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CONTRACT FOR PURCHASE AND SALE This CONTRACT OF PURCHASE AND SALE (hereinafter "Agreement"), dated this day of January, 201 1, between Enyart Electric Motor Repair, Inc. (the `'Company") and the SOUTH BEND REDEVELOPMENT COMMISSION (the "Commission"), the governing body of the Department of Redevelopment of the City of South Bend, Indiana, existing and operating under the provisions of Indiana Code § 36-7-14, as amended; WITNESSETH: 1. The Commission is the owner of record of land in the Airport Economic Development Area commonly known as 1313 Prairie Avenue, South Bend, Indiana and more particularly described at Exhibit A (the "Property"). The Commission has completed the disposition process under Indiana Code ~ 36-7-14-22 and desires to sell the Property to the Company under the terms and conditions set forth herein pursuant to Indiana Code § 36-7-14- 22(h). 2. The Commission shall convey the Property to the Company in exchange for a purchase price of $165,000.00 (the ``Purchase Price"). 3. The Commission hereby represents that it is not aware of any easements or encumbrances other than those of record. At Closing, the Commission shall convey the Property to the Company by quitclaim deed in the form set forth at Exhibit B subject to the following: (a) Applicable zoning laws and regulations; and (b) All easements, conditions, reservations, leases, licenses, access agreements and restrictions as may appear of record, be apparent by an inspection of the Property, or of which the Company has actual or constructive knowledge. As a government entity, the Commission is exempt from taxation under Indiana law, and therefore, no taxes should have accrued against the Property while the Commission is the owner of the Property. The Company agrees to accept the Property under the above-described circumstances and subject to the above-described restrictions and encumbrance provided that the