HomeMy WebLinkAbout#3036- Deed; OPTION FOR PLAT Lots numbered 299,300,301 in the proposed plat of Section A, McKinley Terrace3036
2/16/1953
Option for Plat
LOT NO. Lots 299, 3 00,3 01
SUB: McKinley Terrace
Land Developers, Inc.
Description:
Lots numbered 299,300,301 in the proposed plat of
Section A, McKinley Terrace
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O P T I O N
THIS INDENTURE WITNESSETH: =
Land Developers Company, Inc.
WHEREAS,is now the owner in fee
simple of all lots and parcels of land comprising the propmseci T'lat ax -
Section "A" , McKinley Terrace, an Addition to the City of South Bend, St.
Joseph County, Indiana, and
WHEREAS, said Plat does not make any provision for playground or
park facilities, and
WHEREAS, the Municipal City of South Bend, acting by and through
its Board of Park Commissioners has suggested that such provision be made
in the said Plat to be finally approved by the City Planning Commission, and
WHEREAS, the area hereinafter described will be bounded by Preston
and Sarin Streets, and
WHEREAS, upon final approval of said Plat, the owner will proceed
to improve said area by the construction of grades, curbs, sidewalks, pave-
ments, sewers, water system and utilities.
NOW, THEREFORE, upon the terms and conditions hereinafter set
forth said owner does hereby give and grant unto said Municipal City of South
Bend and/or its Board of Park Commissioners the option to acquire for play—
ground purposes a parcel of real estate in said area described as follows,
to -wit:
Lots Numbered 299, 300, 301, in the proposed Plat of
Section "A", McKinley Terrace, an Addition to the
City of South Bend.
1. This option shall immediately expire in the event the Plat
of said Addition is not finally approved according to law.
2. This option shall also become null and void if not exercised
on or before June 1, 1954.
3. Upon the exercise of such option, the optionee shall pay for
said above described real estate on the basis of cost to optionor, but not to
exceed Five Hundred Dollars ($500_00) an acre.
4. The optionee shall upon demand pay either to the proper public
authority or to the owner, as the case may be, the proportionate pro-rata cost
of all public improvements constructed by the owner and adjoining and/or
kpertaining to the above described parcel of real estate.
5. The deed of conveyance of the owner upon the exercise of such
loption shall be made subject to all utility easements and to such public
?improvement assessments as may fall due in respect to said above described
arcel after the date of such instrument.
6. Upon the exercise of such option, the optionee shall also
reimburse the owner for any part of the costs of said improvements which it
shall have paid prior to such exercise and to the date of such instrument of
conveyance.
IN WITNESS WHEREOF, the said owner has caused this instrument
be executed in its name and on its behalf by its President, attested by its
ecretary and its corporate seal to be affixed this l0 day of
95 � .
Land Developers Company, Inc.
By
P esident
T TEST;
Secretary
Olt A,