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WHEREAS, the U. S. Department of Housing and Urban Development has <br />approved A. G.A. Realty Company and the First Bank and Trust Company of <br />South Bend as Trustee for Land Trust No. 29 -5121 as Redevelopers for <br />Disposition Parcels 4 -70 and part of 4 -72, as described in Exhibit A attach- <br />ed hereto; <br />Now, Therefore, Be It <br />RESOLVED, by the South Bend Redevelopment Commission, the governing <br />body of the City of South Bend Department of Redevelopment, that: <br />1. The bid proposal of the First Bank and Trust Company of South Bend, <br />Indiana, as Trustee for Land Trust No. 29 -5121 is not less than the offering <br />price of the Commission for uses in accordance with the Urban Renewal Plan, <br />and said bid proposal is determined by the Redevelopment Commission to be <br />the highest and best bid. <br />2. Said Redevelopment Commission hereby accepts and approves A.G.A. <br />Realty Company, an Indiana partnership, as a Redeveloper under said bid <br />proposal, together with the First Bank and Trust Company of South Bend, Indiana, <br />as Trustee for Land Trust No. 29 -5121, for the redevelopment of Disposition <br />Parcel 4 -70 and part of Parcel 4 -72 in the Central Downtown Project, Indiana <br />R -66 as described in Exhibit A attached hereto. <br />3. The Executive Director of the Department of Redevelopment is hereby <br />authorized to have prepared a Contract for Sale of Land for Private Redevelop- <br />ment and Quit Claim Deed(s) for the purpose of conveying said Disposition <br />Parcels 4 -70 and part of Parcel 4 -72, as described in Exhibit A attached hereto, <br />to said Redevelopers. <br />4. The President of the South Bend Redevelopment Commission is hereby <br />authorized to execute said Contract for Sale of Land for Private Redevelopment <br />and Quit Claim Deed(s) and the Secretary of said Redevelopment Commission is <br />hereby authorized to attest said Contract and Deed(s). <br />5. The Construction Plans of the Redevelopers are hereby approved, and <br />the evidence of equity capital and mortgage financing is hereby accepted as <br />adequate. <br />C- <br />-2- <br />