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11 T 1 <br />"' r PAILCO <br />O P T I O N <br />THIS INDENTURE WITNESSETH: = <br />Land Developers Company, Inc. <br />WHEREAS,is now the owner in fee <br />simple of all lots and parcels of land comprising the propmseci T'lat ax - <br />Section "A" , McKinley Terrace, an Addition to the City of South Bend, St. <br />Joseph County, Indiana, and <br />WHEREAS, said Plat does not make any provision for playground or <br />park facilities, and <br />WHEREAS, the Municipal City of South Bend, acting by and through <br />its Board of Park Commissioners has suggested that such provision be made <br />in the said Plat to be finally approved by the City Planning Commission, and <br />WHEREAS, the area hereinafter described will be bounded by Preston <br />and Sarin Streets, and <br />WHEREAS, upon final approval of said Plat, the owner will proceed <br />to improve said area by the construction of grades, curbs, sidewalks, pave- <br />ments, sewers, water system and utilities. <br />NOW, THEREFORE, upon the terms and conditions hereinafter set <br />forth said owner does hereby give and grant unto said Municipal City of South <br />Bend and/or its Board of Park Commissioners the option to acquire for play— <br />ground purposes a parcel of real estate in said area described as follows, <br />to -wit: <br />Lots Numbered 299, 300, 301, in the proposed Plat of <br />Section "A", McKinley Terrace, an Addition to the <br />City of South Bend. <br />1. This option shall immediately expire in the event the Plat <br />of said Addition is not finally approved according to law. <br />2. This option shall also become null and void if not exercised <br />on or before June 1, 1954. <br />