HomeMy WebLinkAbout#3027- Deed; OPTION TO PURCHASE - zikersf �
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5/29/1959
Option to Purchase f
Ziker Cleaners
Description:
0 p T 1 0 N
For One ("')'1.00) Dollar and other valuable consideration,
the undersigned herewith ;rant to the City of South Bend an
option to purchase the real estate described as Sollows:
A parcel of land thirty-nine and seven tenths
(39.7) feet in width Forth and South taken off of
the South end of the entire width of Lots One and
Two (1 and 2) Knoblock's Subdivision, and a parcel
of land thirty-nine and seven tenths (39.7) feet
in width North and South taken off of the South
end of the entire width of the Last one-half (1/2)
of Lot Numbered Thirty-eight (38) in Denniston
and Fellows Addition to the City of South Bend,
Indiana. Said real estate sold hereunder has a
frontage on Sample Street of approximately one
hundred fourteen and one --half (1141) feet and a
depth of thirty-nine and seven tenths (39.7) feet,
said real estate to be more accurately described
in a deed of conveyance.
The purchase price for said real estate shall be Sixty -El ;h
Thousand (;AGE, 000. 00) Dollars, and is based on the following
estimate of valuation and damages:
Severance damage to remaining property 9,750.00
For the condemnation of existing portion
of building and taking of land 40, 000. 00
For damages to Ziker Cleaners 18,250.00
Total $68 , 000.00
The foregoing sum will be accepted as full compensation for
but not limited to, that portion of the building situated on the
above described real estate, taking of the land, cost of removal
of machinery, replacement, new electric wiring, steam and plumb-
ing connections, and heating service and connections.
We agree to furnish the City of South Bend for examination
an abstract of title certified to date, disclosing merchantable
title in said real estate, free and clear of encumbrances. The
grantors will pay the taxes on the above described real estate f
the year 1958 due and payable in the year 1959, and that hart of
the 1959 taxes due and payable in the year 1960 prorated to the
date of closing. The purchase price is to be paid in full upon
delivery of a warranty deed to the City of South Bend.
it is further agreed that we shall cause the existing build
ing located on the Teal estate to be conveyed, to be removed, at
our expense. We shall have the right to retain all materials
salvaged as a result of the wrecking of said building. It is
agreed that possession of said real estate shall be given to the
City of South Dend, Indiana on or before October 15, 1959, and
that at the time possession is given there will be no structure
on said land above the ;round.
It is a further condition of this option that the City of
South Bend agrees to pay in full the consideration of Sixty-eight
Thousand ($68,000.00) Dollars herein named, upon the approval of
title to said real estate and the delivery of a warranty deed
thereto. Payment shall not be withheld pending delivery of
possession of the real estate.
This option shall remain open for a period of ten (10)
days from the date hereof.
Dated this 22nd day of !,iay, 1959.
Joe Ziker
1,
ZIMER CLEANERS, INC.
E
Y
Dresident