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<br />In order to more accurately describe the real estate which is the subject of this appraisal, the ~"
<br />appraiser has defined the following description as taken from the survey documents provided by
<br />Danch, Hamer & Associates, Inc., and reproduced herein as several exhibits. As tekn therefrom, ~+
<br />the description of the real estate considered in this appraisal report is described as follows:
<br />That part of the Southeast Quarter of Section 11, Township 37 North, Range 2
<br />East, Portage Township, City of South Bend, St. Joseph County, Indiana which
<br />is described as follows: to-wit:
<br />Commencing at the intersection of the South line of said Section 11 and the
<br />centerline of Chapin Street, thence along the centerline of said Chapin Street
<br />North 00° 03'37" East, 522.37 feet; thence South 89° 55'05" East, 40.50 feet to a
<br />point on the east right-of--way line of Chapin Street and the Point of Beginning of
<br />this description; thence continuing South 89° 55'05" East, 231.00 feet; thence
<br />North 00° 04'33" West, 140.91 feet: thence South 89° 57' 19" West, 230.82 feet
<br />to the East right-of--way line,of Chapin Street; thence North 00° 03'37" East
<br />along said East right-of--way line of Chapin Street 100.02 feet to the South right-
<br />of-way line of the relocated United Drive; thence North 89° 57' 19" East, 270.36
<br />feet; thence along a curve to the right having a radius of 370.00 feet and an arc
<br />length of 110.78 feet; thence South 72° 53'22" East, 81.72 feet; thence along a
<br />curve to the left having a radius of 230.00 feet and an arc length of 89.91 feet;
<br />thence North 86° 47'37" East, 16.70 feet; thence South 00° 00'32" West, 185.06
<br />feet; thence South 29° 42'31" West, 561.00 feet to a point on the North right-of-
<br />way line of Sample Street; thence North 83° 57'53" West, 186.39; thence along a
<br />curve to the right having a radius of 100.00 feet, an arc length of 154.14 feet, a
<br />chord length of 139.33 feet and a chord bearing North 46° 14'36" West; thence
<br />North 00° 08' 19" East, along the east right-of--way line of Chapin Street, 385.50
<br />feet to the point of beginning, containing 6.72 acres, more or less.
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<br />The reader is cautioned that this description is prepared by the appraiser expressly for the
<br />purposes of this appraisal. The reader should obtain an accurate survey of the real estate
<br />including a description thereof prepared by a competent land surveyor.
<br />The subject property is located at the northeast corner of the intersection of Sample Street and
<br />Chapin Street and is situated in the near southwest section of the City of South Bend, proximate
<br />to downtown South Bend and the Coveleski Stadium and is surrounded by a mix of light
<br />industrial, manufacturing and warehouse land uses. As discussed above, the area surrounding.
<br />the subject is in the process of substantial municipal redevelopment evidenced by the recent
<br />acquisition of the former South Bend Lathe facility immediately south of the subject along
<br />Sample Street and the demolition and redevelopment of the form Oliver Chilled Plow Works site
<br />to the west, across Chapin Street.
<br />The subject site is located at the northeast corner of the intersection of Sample Street and Chapin
<br />Street in the near southwest quarter of the City of South Bend in the area known as the "Inner
<br />Belt" industrial area. The site is irregular in shape and consists, in part, of land formerly
<br />occupied by the relocated United Drive and features an area of 6.72 acres, more or less. The site
<br />is generally level and clear and offers space for the building and a large area for expansion and
<br />H1INTfT~1GT~>P~1 RE,ILTY ~~DVISt:);t~
<br />APPRAISAL OF UNITED BEVERAGE COMPANY
<br />OFFICES AND WAREHOUSE FACII.ITY
<br />840 SOUTH UNITED DRIVE
<br />SOUTH BEND, INDIANA ~ 4
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