03-08-10 Council Agenda & Packet

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iv, shall provide for reversion of title to the real property constituting the Project Site to the City in the event that The Salvation Army does not meet its obligation to commence construction of the RJKCCC within twelve (12) months of accepting title to The Project; and V. shall require The Salvation Army to provide written notice to the City Attorney for the City of South Bend of any change in circumstances that would prevent The Salvation Army from completing its development obligations with respect to completion and operation of the RJKCCC. C. Board of Park Corranissioncrs. Pursuant to the powers granted by Indiana law and consistent with the legal process by which the Park Commission is bound, the Park Commission agrees to undertake those steps necessary to effect the transfer to SBHF of Alonzo Watson Park which is depicted and described at Exhibits "AI" and `A2" Parcel B. Transfer of Alonzo Watson Park to SBHF shall be subject to the terms and conditions described at Section II(B)(3), above. The Parties acknowledge and understand that the legal actions necessary for the Park Commission to complete transfer of Alonzo Watson Park to The Salvation Army through SBHF shall include the adoption of a resolution by the Park Commission authorizing transfer of Alonzo Watson Park and a resolution by the South Bend Common Council approving the transfer. 111. SOUTH BEND BE, RITAGE FOUNDATION ON COMMITMENTS. SBHF agrees to facilitate the Project by providing its expertise and services concerning site assembly for the Project and disposition of real property received from the City to The Salvation Anny. SBHF shall execute a written agreement with The Salvation Army providing for completion of the Project and said agreement shall include those terms and conditions described at Section II(B)(3), above. SI31.1F shall provide the Works Board and the Park Commission with duplicate originals of the fully executed agreement between SBHF and The Salvation Army prior to the City malting any transfer of property related to the Project, Upon the City receiving such satisfactory evidence of a binding agreement between SI3HF and The Salvation Army and that the financing necessary to complete the Project has been awarded to The Salvation Army, SBHF shall accept title to the real property constituting the Project Site from the Works Board and Park Commission, respectively, for the sum of Ten and 00 /100 Dollars ($10.04) for each of the two (2) parcels constituting the Project Site. Such conveyance from City to SBHF shall be in "as is" condition by way of a quit claim deed, subject to all restrictions and easements of 5 MOC32f naf (3)