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E <br />E <br />Aa <br />RESOLUTION NO. -7> 1 � -7 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION RESCINDING ITS APPROVAL OF A <br />CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE AND APPROVING <br />AND AUTHORIZING EXECUTION OF CONTRACT FOR PURCHASE AND SALE OF <br />REAL ESTATE CONTAINING CERTAIN REVISED TERMS AND APPROVING THE <br />EXECUTION OF DOCUMENTS <br />Stamping Plant Property; Sample-Ewing Development Area <br />WHEREAS, in accordance with the powers and duties granted to the South Bend <br />Redevelopment Commission ("Commission") by I.C. 36-7-14, et seq., at its public meeting of <br />August 19, 2005, the Commission approved and executed a Contract for Purchase and Sale of Real <br />Estate with the South Bend Public Transportation Corporation ("Transpo") related to the property <br />commonly known as the South Bend Stamping Plant located within the Sample-Ewing Development <br />Area; and <br />WHEREAS, subsequent to the Commission's approval of the aforementioned contract, there <br />have been certain changed conditions including, but not limited to, the timing of the transaction, <br />which necessitate the preparation and execution of a new agreement between the Commission and <br />Transpo to reflect the changed conditions; and <br />WHEREAS, the Commission also desires to enter into certain formal agreements with <br />Transpo that are consistent with the concepts expressed in a new Contract for Purchase and Sale of <br />Real Estate as presented at the Commission's meeting on November 18, 2005 including, but not <br />limited to, those documents necessary to effect closing of the transaction; and <br />WHEREAS, the Commission recognizes that time is of the essence in order to accomplish <br />various redevelopment activities within the Sample-Ewing Development Area. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />1) The Contract for Sale and Purchase of Real Estate with Transpo as approved by <br />the Commission on August 19, 2005, shall be and hereby is rescinded. <br />CADocurnents and Settings\akolata\Local Setfings\Ternp\Res_RescindAug I 905ContractApproval 051118.doc <br />