07/23/73 Board of Public Works Minutes

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REGULAR MEETING JULY 23, 1973 Company, formerly The American Oil Company, hereinafter referred to as Seller, and the Civil City of South Bend, a municipal corporation of the State oflndiana, hereinafter referred to as Buyer, WITNESSETH: WHEREAS, the Seller is the owner of certain real: estate located at the Southeast corner of the Intersection of Ireland Road and Miami Road in the City of South Bend, Indiana, and the Buyer in the construction of certain improvements in the widening of said intersection requires the acquisition of a part ofthe Seller's property as hereinafter set forth; and WHEREAS, the parties hereto have agreed to the terms of the sale of the hereinafter described real estate and have agreed that the Buyer should have an immediate right of entry upon said real estate at the time of the execution of this Agreement. NOW, THEREFORE, it is agreed by and between the parties hereto and for and in consideration of the premises and the mutual covenants herein contained as .follows: 1. The Seller agrees to sell:and the Buyer agrees to buy the real estate located in St, Joseph County,. State of Indiana as described in Exhibit A attached hereto and made a part hereof, ,in ,accordance with the terms and conditions herein set forth. 2. The consideration paid for the acquisition of said real estate shall be the sum of Twenty -Three Thousand, Seven Hundred and Fifty Dollars ($23,750.00). This amount shall be paid at the time of closing. 3. The Seller agrees to obtain, and the Buyer agrees to pay the cost thereof, a binder of title insurance in an amount equal to the pur- chase price. Such binder shall insure title in the Seller and shall contain a covenant to insure such title in the Buyer upon appropriate conveyance. The Buyer shall, after receiving such binder, examine it and certify to the Seller any defect in title. The Seller shall have reasonable time to correct such defect and deliver to the Buyer any corrective material. Such defect in title shall be corrected at the expense of the Seller. 4. Closing shall take place within twenty-one days (21) after the binder for title insurance showing merchantable title in the Seller is delivered to the Buyer. At the time of closing the Seller shall execute and deliver a Warranty Deed conveying the real estate in accordance with this Agreement. 5. No pro ration of taxes shall be made by the parties in the making of this sale, the Seller to be responsible for the payment of all taxes which are unpaid. 6. Upon the execution of this Agreement, the Buyer shall have an immediate right of entry upon said real estate for the purpose of survey, grading, leveling, filling, draining, paving, building, repairing, and rebuilding streets and highways together with any culverts, ramps and cuts as may be necessary. The Seller agrees to move at his expense any signs or other structures located upon the subject property. Such removal and relocation shall be completed within fourteen (14) days from the date of this Agreement. 7. The Buyer agress that there shall be no decrease in the width of the access driveways nor in the number of such access ways to the Seller's property, and that at the point where the access drives join public streets there shall be a change in grade not to exceed six (6) inches. 8. The Buyer agrees to save -'and hold harmless the Seller from any and all liability, claim of damage, or cause of actrcon resulting from or arising out of or incident to the right of entry herein granted. The Buyer further agrees not to unreasonably interfere with theingress and egress to Seller's adjacent service station site and agrees that all work in the area will be completed as soon as possible. 1 1 1