Award Bid - Sale of City Owned Property 1129 Lawrence Street - Kimberly Bloch

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PURCHASE AGREEMENT This Purchase Agreement ("Agreement"), entered into this %t day of�, 20 M, by and between the Civil City of South Bend, Indiana, by and through its contracting body, the Board of Public Works ("Seller") and Kimberly S. Bloch, 922 Deep Wood Dr. Mishawaka, IN 46544, in his/her individual capacity. ("Buyer") (Each a "Party" and together the "Parties"). WITNESSETH: WHEREAS, I.C. 36-1-11 establishes the procedure for the sale and rental of real property owned by the City of South Bend; and WHEREAS, the Board of Public Works (hereinafter referred to as the "Board") is empowered to carry out the provisions of said statute; and WHEREAS, the Board has determined that: 1. The highest and best use of certain real property owned by the City is by sale to an abutting property owner; 2. The cost to the public of maintaining said real property owned by the City equals or exceeds the established fair market value of said property; 3. It is economically unjustifiable to sell real property owned by the City in accordance with the procedures set forth in I.C. 36-1-11-4, the A. Seller has custody of and may maintain and dispose of all real property owned by the City of South Bend, Indiana (the "City") pursuant to IC. 36-1-11 ("Act"). B. Seller owns certain real property located at 1129 N. Lawrence St., South Bend, Indiana, 46617 and more particularly described in attached Exhibit A (the "Property"). C. Pursuant to the Act, Seller requested to advertise the sale of the Property on June 261h, 2018. D. Pursuant to the Act and its advertisement on June 26th, 2018, Seller opened bids for the purchase of the Property at a public hearing on July 20', 2018. E. Buyer was the highest and most responsive bid. F. Seller desires to sell the Property to Buyer on the teens stated in this Agreement. THEREFORE, in consideration of the mutual covenants and promises in this Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, Buyers and Seller agree as follows: