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It <br />MAIL DEED TO: <br />City of South Bend Department <br />of Redevelopment <br />227 W. Jefferson, Suite 1200 <br />South Bend, IN 46601 <br />MAIL TAX BILL TO: <br />County Mayo /SB, LLC <br />c/o JF +A Properties, Ltd. /CII &P <br />272 E. Deerpath Road, Suite 244 <br />Lake Forest, IL 60045 <br />AUDITOR'S RECORD <br />Transfer No. <br />Taxing Unit. <br />Date <br />Tax Key No. <br />QUIT CLAIM DEED <br />(Private Redevelopment) <br />THIS INDENTURE WITNESSETH, that the City of South Bend, Department of <br />Redevelopment, in St. Joseph County, Indiana ( "Grantor "), conveys and quit claims to <br />County Mayo /SB, LLC ( "Grantee "), for and in consideration of Ten and 00 /100 Dollars <br />($10.00), the receipt of which is hereby acknowledged, the following described real estate <br />in the City of South Bend, St. Joseph County, Indiana ("Real Estate "): <br />See attached Exhibit A <br />SECTION I. This Deed is subject to the covenants, conditions, restrictions, and <br />provisions of the Contract for Sale of Land for Private Redevelopment entered into <br />between the Grantor and the Grantee dated March 24, 2006, a copy of which was recorded <br />on May 2006, as Document No. , in the Office of the <br />Recorder in St. Joseph County, Indiana ( "Agreement "). <br />The Grantee may not convey this Real Estate, or any part thereof, without the <br />consent of the Grantor until the Certificate of Completion, as described in the Agreement, <br />releasing the Grantee from the obligations of the Agreement as to this Real Estate, or such <br />part thereof then to be conveyed, has been placed on record. This provision, however, in <br />no way prohibits conveyance of the Real Estate incidental to a judicial foreclosure sale nor <br />prevents the Grantee from mortgaging this Real Estate in order to obtain funds for the <br />purchase of Real Estate hereby conveyed and for erecting improvements thereon in <br />conformity with the Economic Development Plan for the Airport Economic Development <br />Area ( "Plan") and applicable provisions of the Zoning Ordinance of the City of South <br />Bend, Indiana. <br />The terms and covenants of the Agreement pertaining to the redevelopment of the <br />Real Estate and to the improvements shall be deemed covenants running with the land. <br />It is specifically agreed that the Grantee shall promptly begin and diligently <br />prosecute to completion the redevelopment of the Real Estate through the construction of <br />the improvements thereon, as provided in the Agreement, and as represented to the Grantor <br />in public documents of the Grantor, including but not limited to the bid proposal submitted <br />to the Grantor by Grantee ( "Project "). Such construction shall be begun no later than sixty <br />(60) days of the recording of this Deed, and qualify for a certificate of occupancy from the <br />1 <br />