No. 2584 approving the execution of a purchase agreement for the transfer of real property from the SBRC to the SB Public Transportation Corp.

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• agreements with the South Bend Department of Redevelopment including but not limited to the Airport Economic Development Area Plan and the lien of non- delinquent taxes, zoning ordinances and building codes. (2) Provide a fully insured Closing through the Title Company (as hereafter defined) at the expense of Purchaser and Seller who shall equally share the insured closing expense, at which Title Company shall markup and agree to insure marketable title in Purchaser subject only to Permitted Exceptions (as hereafter defined) effective as of the moment of Closing. Seller shall pay all title insurance premiums and charges with the exception of charges for any extended coverage which shall be paid by Purchaser. (3) Deliver to Purchaser possession of the Property, free and clear of all leases, tenancies, and occupancies, except those to which Purchaser has agreed the title may be subject. (4) Furnish evidence of its capacity and authority to sell the Property and close this transaction pursuant to a resolution passed and approved by the South Bend Redevelopment Commission. (5) Execute and deliver any other documents or instruments which may be necessary or reasonably required by Purchaser or the Title Company to complete the sale of the Property and close this transaction, and make any pre - construction and construction documents and plans available to Purchaser upon request. B. Purchaser shall: (1) Make payment to Seller of the Purchase Price according to the terms set forth at Paragraph 2 of this Agreement. (2) Furnish evidence of its capacity and authority to purchase the Property and close this transaction pursuant to a Resolution passed and approved by Transpo's Board of Directors. (3) Execute and deliver any other documents or instruments which may be necessary or reasonably required by Seller or the Title Company to complete the sale of the Property and close this transaction. 6. Risk of Loss. Risk of loss shall remain on Seller prior to Closing. 7. Conditions Precedent to Purchaser's Obligations. In addition to any other condition of or contingency set forth in this Agreement, Purchaser's obligations under this Agreement are subject to the following contingencies, which contingencies, if not satisfied or waived by Purchaser in writing at Closing, shall constitute grounds for Purchaser to terminate this Contract by its written notice to Seller. OPERATIONS FACILITY 0)