03-08-10 Council Agenda & Packet

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record, as shown on a title commitment policy issued by Meridian Title Corporation. In the event that the Project does not proceed for any reason whatsoever, SBHF shall disclaim any right or interest in the Project Site and shall take those steps necessary to ensure that title to the real property constituting the Project Site is revested in the City. IV. SALVATION ARMY COMMITMENTS. The Salvation Array shall execute an agreement with SBHF providing for acceptance of title to the Project Site and completion of the Project. Said agreement shall include those terms and conditions described at Section II(B)(3), above. The Salvation Army understands that the City will not make any transfer of real property constituting to the Project Site to SBHF or to The Salvation Army until the Works Board and the .Parr Commission have each received (i) duplicate originals of a fully executed agreement between SBHF and The Salvation Army and (ii) satisfactory evidence that The Salvation Army has approvals necessary to proceed with the Project and (iii) that The Salvation Army has all funds necessary to complete the Project. The Salvation Army shall accept title to the real property constituting the Project Site from SBHF for the sum of Twenty and 001100 Dollars ($20.00) for each of the two (2) parcels constituting the Project Site depicted and described at Exhibits "Al" and "A2" as Parcel A and Parcel B. Such conveyance of property from SBHF to The Salvation Army shall be in "as is" condition by way of a quit claim deed and shall be subject to all restrictions and easements of record as shown on a title commitment policy issued by Meridian 'Title Corporation. In the event that the Project does not proceed for any reason whatsoever, The Salvation Army shall disclaun any right or interest in the Project Site and shall take those steps necessary to ensure that title to the real property constituting the Project Site is reverted in the City. V. MISCELLANSOUS. I. The Parties agree to continue to work together to develop a plan for Project Site development and construction on the Project Site that is consistent with the City's design guidelines for the Project area. 2. In entering into this MQU, the City has relied upon The Salvation Array's representation that The Salvation Army will construct a RJKCCC on the Project Site for the purpose of Rilfilling its mission, and the Center will be available for use and enjoyment by the citizens of South Bend and the surrounding area. 3. This transaction shall not proceed beyond the execution of this non- binding MOU in the event that The Salvation Army and SBHF do not enter into an agreement concerning development of the Project Site as described in Section III above. 6 MoU2finni (3)