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6. Possession of such property shall be given to the <br />Optionee as of the date of the closing of the transaction. <br />7. The granting of this option shall be binding on the <br />assigns and representatives of the Optionor. <br />Dated this day of February, 1961. <br />PLACE AND COMPANY, INC. <br />By h &w � <br />Andrew S. Place, President <br />Optionor <br />ACKNOWLEDGMENT AND ACCEPTANCE <br />Receipt of the foregoing executed option is hereby <br />acknowledged and accepted by the City of South Bend, Board of <br />ck <br />Public Works and Safety, this `] day of_F-e��, 1961. <br />.Anthony J. Sabo <br />Irvin J. S th <br />Edwin L. Davies <br />d S. Andrys <br />Constituting all the members of <br />-the Board of Public Works and <br />Safety of the City of South Bend. <br />- 3 - <br />