Right of Way - South Gibson School Ciorp, South Gibson School Ciorp_4/16/1980.. � � � '
9
WARRANTY DEED
T1iIS INDENTURE WITNESSETH, That ROBERT D. BAIN and EUGENE D. BAIN, .
of Vanderburgh County, in the State of Indiana, Convey and L9arrant
to SOUTH GIBSON SCHOOL CORPORATION of Gibson County,,in the State
of Indiana,.for and in consideration of the sum of One Dollar ($1.00)
and other valuable considerations, the receipt whereof is hereby
acknowledged, the following described Real Estate in Gibson County,
ar the State of Indiar.a, to-wit:
Part of the South half of the Northwest quarter of Sectibn
nineteen (19), Township three (3) South, Rang•e ten (10) TAest
in Gibson County, Indiana and more particularly described as
follows: Commencing at a rail road spike at the Soutneast
corner of the South half of the iJOrthwest quarter of Section
nineteen (19); thence North 69 degrees 22 minutes hest alor.g
the South line of the said half quarter section seven hundred
t�;enty-six (726) feet to a rail road spike at the point of
beyinniiig; thence continue North 89 degrees 22 minutes ��est
along the South line of the said half quarter section three
hundred ninety-six (396) feet to a rail road spike; thence
Vortn and parallel to the East line of the said half quarter
s�ction one thousand three hundred thirty-eight and ninety
hundredths (1338.90) feet to an iron in the I�orth line of
the said half quarter section; thence South 89 degrees 52
minutes 30 seconds East along the Nortki line of the said �/
half quarter section three hundred ninety-six (396) feet to �11C
ati iron; thence South and parallel to the East line of the �
said half quarter section one thousand three hundred thirty- �
._ __ _ fi.�e an�. thzrty-se��en fi�ndred*hs (?335.37) feet to the place.
of beginniiig, containing 12.16 acres, more or less. SAVE and •
EY.Ci:PT.LNG the coal hereto o� r�onveyed underlying said raal
estate.
'1'he Grantors reserv� unto themselves the right of possession
• until June 1, 1980 exc�pt tlie Grante� shall l�ave the riyht
immediately after the delivery of this Deed to come on the
property for the purpose of making soil borings. _
The Grantors reserve unto themselves the growing wheat crop
and the right to harvest said crop. The Grantee shall pay
Grantors for any and all damage incurred to t�he wheat crop
by any activities of the Grantee on said proporty. The wheat •
crop shall be harvested on or before July 1, 1960.
The Grantors reserve and retain unto themselves, their heirs ,
and assigns, the oil and gas lying under the above described
real estate, however, no surface rights are reserved and no�
operation whatsoever for the purpose of mining, exploring
and operating for and producing oil and gas shall be authorized
or be permittad on the surface of said real estate.
'Che word "site" as it hereinafter appears means the above des-
cribeei 12.16 acres together with the 6.98 acras located immed-
iatc.ly east thereof, s�:d bci .g purc!:ase3 by the Grar.tee from
P.oy titi'arren and L•'arl �•:arren. Prior to the time students occupy
the �chool building to be built on the site, the Grantee shall
erect a diain-link fence at leaet six (6) feet in height along
tlic wce;t L,ounc'iary linu of the 12.16 �crus; sn.id f�iicu to bo
aLli: Lo liold hogs, yltcc��, cnl•llc, mul�:s ancl h��rses. This
chain-].ink fence shull be maintain�ei Uy the Grsntee so long as
the sitc is used by ttie Grantee for school purposes.
I7i the event ttiat a school building is not erected on the site
:•:ithin ten (10) years after this date, the Grantors, their
heirs or assigns, shall have the option to repurchase the said
12.16 acres at a repurchase price of Twelve Thousand Dollars
($12,000.00) per acre,.and the period during whicli this option
a+,...,_. _
. a. .�. .�.. �.: - 'o�.:.+e:ri.: �S.t`�"".'- ..'+'..=.a. G.�lI: v.-:.ws ec ��_'-- � a_ �y; '"�:y� t t'Y - i'"��'wi.a-ae?i,.'a.. < _=i�a
��
.. � . '� - . ' �
may be exercised by ttie Grantors snall extend for a period of
tnree (3) months from and after said ten (10) year period.
However, this option to repurchase said real estate shall
terminate upon the happening of any of the following:
(a) issuance of general obligation bonds by the Grantee
for the construction of a school building on the site; '
(b) issuance of bonds by a school building corporation ,
wtiich has entered into a lease of the said site, or
any portion thereof, and a building to the Grantee; "
(c) final approval by the State Board of Tax Commissioners �'
of a lease as required by I.C. 21-5-12 of a for profit °
school building corporation of the site, or any portion _
thereof, and a building to Grantee.
It is understood that "issuance" as used in both (a) and (b)
means delivery.to the purchaser and receipt of payment therefor.
The Grantors rescrve tlie ri�ht until June 1, 1980 to remove
any of their fencing, fence posts or buildings which may be
located on tlie above described real estate.
Tiie Grantors shall pay the 1979 taxes and assessments due and �
payable in 1980 and the Grantee shall pay the 1980 taxes and
assessments due and payable in 1981 and all taxes and assess-
ments due and payable thereafter.
In Sditness T9hereof, The said ROBERT D. BAIN and EUGENE D. BAI\
have hereunto set their hands and seals, this ilth day of npril
1980.
��I�Z''�"'J �LJ� ` �{�,�,,,., � -- (sEaL) ~
Ro ert D. Bain
: ' -�
C� � �// .
Cter;r?:.u;,�: �/ ).C? �e�c.. (SEAL)
Eugene D. F�ain '
�
STATE OF INDIAivA, vanderburgh COUNTY, .ss:
Before me, the undersigned, a Notary Public in and for said
County und Stnte, this ltcn day of n��rll , 1980, camo
ROBERT D. &�IN and EUGENE D. BAIN,,and acknowledged the execution of
the foregoing�instrument.
Witness my hand and official seal. •
(.�,Ci';' -( r � t "� �,r.�.s�:'•7_/
Cynthia.G.1Cooper Notary Pub c resi ing in
Diy commission expires: vanderburah "' ��ti�•ty, 3:idian;..
8-21-83
This instrument prepared by Loren G. McGregor, Attorney.