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NOW THEREFORE, BE IT RESOVLED by the South Bend Redevelopment Commission as follows: Section 1. The Commission hereby finds it has fully complied with all terms and provisions of the Contract and the Development Agreement, and further finds Jeffcourt has (i) breached the terms and conditions of both the Contract and the Development Agreement; (ii) has been provided with notice of the defaults; (iii) failed to cure the defaults; and (iv) there is a reasonable basis for the Commission to terminate both the Contract and the Development Agreement. Section 2. Based upon the findings described in this Resolution, the Commission hereby terminates the Development Agreement between the Commission and Jeffcourt recorded April 6, 2009, in the Office of the St. Joseph County, Indiana Recorder as Instrument Number 0911110, and the Contract for the Sale of Land for Private Development and the First Amendment to Contract for Sale of Private Development recorded April 6, 2009 in the Office of the St. Joseph County, Indiana Recorder as Instrument Numbers 0911111 and 0911112. Section 3. The Resolution shall be in full force and effect after its adoption by the Commission. Section 4. Commission staff members are authorized to execute on behalf of the Commission any documents necessary and take all further actions to carry out the intent of this Resolution, including but not limited to, recording this Resolution in the Office of the Recorder of St. Joseph County, Indiana providing constructive notice of this termination. ADOPTED at a meeting of the South Bend Redevelopment Commission held on August 23, 2011, at 4:00 p.m. in room 1308, County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. {SIGNATURES CONTAINED ON FOLLOWING PAGE) 2