No. 2246 approving a form of dev agreement with JF+A Properties,LTD/CII&P, County Mayo/SB LLC and related matters

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• CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT THIS CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT (this or the "Agreement "), made on May 1, 2006, between JF +A PROPERTIES, LTD. /CII &P, a Sub -S Corporation organized under the laws of the State of Illinois and having its principal place of business at 272 E. Deerpath Road, Suite 244, Lake Forest, Illinois 60045 (the "General Manager "), on behalf of itself and COUNTY MAYO /SB, LLC, an Illinois limited liability Company (the "Company" and with the General Manager, the "Developer "), as its sole managing member and the SOUTH BEND REDEVELOPMENT COMMISSION, the governing body of the City of South Bend, Indiana, Department of Redevelopment, established and operating under Indiana Code § 36- 7 -14 -1 et seq., as amended (the "Act"), having its office at 1200 County -City Building, South Bend, Indiana (the "Commission"). RECITTALS: WHEREAS, the Commission has investigated areas within the corporate boundaries of the City of South Bend, Indiana (the "City ") and has prepared and approved the Airport Economic • Development Area Development Plan ( "Plan ") to develop the area known as the Airport Economic Development Area, a copy of which Plan and amendments thereto have been recorded in the St. Joseph County Recorder's Office; and WHEREAS, the Commission has offered to sell and the Developer is willing to buy the property described in Exhibit A of this Agreement (the "Property") to provide for the development of the Property accordance with the Plan, this Agreement, and the Site Plans (as defined herein) (the "Project "); and WHEREAS, the Commission believes that developing the Property in accordance with this Agreement is in the best interest of the health, safety and welfare of the City and its residents and complies with the public purposes and provisions of the Act and applicable federal, state and local laws under which the development has been undertaken and is being assisted; and WHEREAS, the Property is subject to certain easements of record, including but not limited to (i) a sewer, water and utility easement provided the City (the "Utility Easement ") and (ii) a certain Right of Way Agreement recorded at Deed Record 568, page 21, as amended by the Partial Release of Right of Way Agreement dated July 16, 1993, and recorded July 22, 1993 in the Office of the Recorder of St. Joseph County as Instrument No. 9328168, and a certain Right of Way Agreement recorded at Deed Record 568, page 19, as amended by the Partial Release of Right of Way Agreement dated July 16, 1993, and recorded July 22, 1993 in the Office of the Recorder of St. Joseph County as Instrument No. 9328169 (collectively, the "Marathon Easements "); and •