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REAL ESTATE DONATION AGREEMENT By and Between South Bend Redevelopment Commission Ivy Tech Community College of Indiana (230 East Sample Street, South Bend, Indiana) Section 1. Parties. This Real Estate Donation Agreement ( "Agreement ") is entered into this day of ' 2012, by and between the City of South Bend, Department of Redevelopment, acting by and through the South Bend Redevelopment Commission (referred to as "Donor" in this Agreement) and Ivy Tech Community College of Indiana (referred to as "Donee" in this Agreement). Ivy Tech Community College is an instrumentality of the State of Indiana established under IC 21 -22 and is exempt from federal income taxation under Section 115 of the Internal Revenue Code. Donor is a body corporate and politic established and acting pursuant to the authority granted by IC 36 -7 -14. Donor is authorized to enter into this agreement by IC 36 -7 -14 -12.2. Section 2. Recitals. Donor owns the real property (referred to as "Property" in this Agreement) described in "EXHIBIT A" that is attached to and made a part of this Agreement. Donor desires to donate the Property to Donee for the purposes and uses hereinafter specified, and Donee desires to accept the Property, and any and all improvements located on the Property, subject and according to the terms and conditions of this Agreement. Section 3. Scope of Agreement. Donor agrees to convey the Property to Donee as a gift and for no consideration, and Donee agrees to accept the Property from Donor. Section 4. Use of Property and Reversion. At the appropriate time, Donee will use the Property to help carry out its mission to provide access to educational programs and training services for students, employees, and employers from the City of South Bend, St. Joseph County, and surrounding communities. The Donee represents and agrees for itself, its successors and assigns, that except for security for obtaining financing needed to enable the Donee to make the improvements under this Contract; and except for any other purpose authorized by this Agreement, the Donee has not made nor will it make: (a) any total or partial sale, assignment, conveyance, or lease; or (b) any trust or power; or (c) any transfer in any other mode or form, with respect to the Agreement or the Property or any part thereof, any interest therein; or (d) any contract or agreement to do any of the above.