Award Bid - Sale of City Property for 142 N. Chicago & 722 N LaPorte Ave. - Victor Lopez

Home Browse Search

2. PURCHASE PRICE The purchase price for the Property shall be One Thousand Nine Hundred Seventeen Dollars ($1,917.00) (the "Property Purchase Price"), payable by Buyer to Seller as described in Section 7 (the "Closing," the date of which is the "Closing Date"). The purchase price for the Allen Property shall be Nine Hundred Twenty -Five Dollars ($925.00) (the "Allen Property Purchase Price"), payable by Seller to Buyer as described in Section 7. 3. PRESERVATION OF TITLE AND CONDITION A. Buyer represents and warrants that he has not taken any action or allowed any action to be taken by others to cause the Allen Property to become subject to any new interests, liens, restrictions, easements, covenants, reservations or other matters affecting the Buyer's title thereto, and will not suffer any new interest, liens, restrictions, easements, covenants, reservations, or other matters affecting the Buyer's title thereto to occur up to the date of Closing (such matters are referred to as "Encumbrances"). Seller represents and warrants that it has not taken any action or allowed any action to be taken by others to cause any Encumbrances to arise with regard to the Property and will not suffer any Encumbrances to arise up to the date of Closing. B. Further, Buyer covenants that he will not alter the condition of the Allen Property at any time after the date of this Agreement, and Buyer will not release any hazardous substances on or near the Allen Property or otherwise collect or store hazardous substances or other materials, goods, refuse or debris at the Allen Property. Likewise, Seller covenants that it will not alter the condition of the Property at any time after the date of this Agreement, and Seller will not release any hazardous substances on or near the Property or otherwise collect or store hazardous substances or other materials, goods, refuse or debris at the Property. 4. PARTIES' REPRESENTATIONS AND WARRANTIES The undersigned Seller represents and warrants to Buyer that Seller owns fee simple title to the Property and is fully empowered to sell the Property to Buyer under the terms and conditions stated in this Agreement. The undersigned Buyer represents and warrants to Seller that Buyer owns fee simple title to the Allen Property and is fully empowered to sell the Allen Property to Seller under the terms and conditions stated in this Agreement. The Buyer further represents and warrants that he is not delinquent on the payment of any real property taxes for any properties owned within the City. 5. CLOSING A. 1'imin , off Cloi ag. The transfer of titles contemplated by this Agreement (the "Closing") shall be held at the office of the Department of Community Investment, 1400 S. County -City Building, 227 W Jefferson Ave, South Bend, Indiana 46601, on a 0)