Authorizing the Board of Public Works to approve the sale of lots numbered 20 and 21 of J. Miller's addition to the City of South Bend, commonly known as 2222 Lincoln Way West to Youth Facilities, Inc.

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AUG 4 13160 BID OF YOUTH FACILITIES, INC. v�. t (f ` `� }�C� UM. gLITIES, INC., an Indiana not -for- profit corpo- BARBARA J. GYE ration, hereby submits a bid to the City of South Bend, Indiana, for.the purchase of a parcel of real estate located at 2222 Lincoln Way West, and more particularly described as Lots 20 and 21 of J. Miller's Addition to the City of South Bend, Indiana, pur- suant to Notice of Sale of Real Estate published by the City of South Bend, Indiana, which bid is as follows: Bidder offers to purchase the aforesaid property for the sum of Twenty- Thousand Dollars ($20,000.00) and, to concurrently with the closing of the purchase of said property enter into a Lease - Purchase Agreement with the City of South Bend, Indiana, for continual and uninterrupted use of the facility by the City of South Bend, Indiana, during the entire period of ownership of the pro- perty by bidder for use by the City of South Bend for its Youth Services Bureau. The rental amount under the Lease /Purchase Agree- ment shall be Four Hundred Forty -four and 89/100 - - - - - Dollars ($444.89 ) per month, a sum determined by amortizing the Twenty Thousand Dollar ($20,000.00) purchase price of the property over a term of five ( 5 ) years, together with interest thereon at the rate of twelve (12 %) percent per annum. The Lease /Purchase Agree- ment shall be a true "net" lease to Bidder, providing that all ex- penses of operation, maintenance and repair of the building, of whatever nature and kind, including but not limited to real estate taxes, utility charges, remodeling expenses, insurance premiums on all insurance, (liability and casualty), repairs and replacement of the building or any portion thereof which may be damaged by