Real Estate Donation Agreement - 210 Broadway St. for Residential Redevelopment – 466 Works Community Development

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REAL ESTATE DONATION AGREEMENT By and Between City of South Bend, Indiana Board of Public Works and 466 Works Community Development Corporation October 13, 2020 Section 1. Parties. This Real Estate Donation Agreement ("Agreement") is entered into this 13th day of October 2020, by and between the City of South Bend, Indiana Board of Public Works (the "Donor") and 466 Works Community Development Corporation, an Indiana non- profit corporation (the "Donee"). Donor exists pursuant to Indiana Code Section 36-4-9-5, holds real property owned by the City of South Bend, Indiana (the "City") pursuant to Indiana Code Section 36-9-6-3, and may dispose of such real property in accordance with Indiana Code Chapter 36-1-11. Donee is an Indiana non-profit corporation organized for religious, charitable, scientific, literary, and educational purposes and is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. Section 2. Property. Donor owns a parcel of real property located in the City and described in Exhibit A attached to and made a part of this Agreement (the "Property"). Section 3. Donation. Donor agrees to convey the Property to Donee pursuant to Indiana Code Section 36-1-11-1(b)(7) as a gift and for no consideration, and Donee agrees to accept the Property from Donor for the purposes and uses hereinafter specified, subject and according to the terms and conditions of this Agreement. Section 4. Time and Place of Closing; Costs. The closing of the transaction contemplated in this Agreement shall take place at a time and place mutually acceptable to Donor and Donee ("Closing"). Donee will pay all closing costs associated with the donation contemplated in this Agreement, including, without limitation, any title company service fees, costs of obtaining title insurance, and all document recording fees. Section 5. Deed and Other Documents. At Closing, Donor agrees to deliver a Special Warranty Deed (the "Deed") conveying the Property to Donee and substantially in the form of the deeds attached hereto as Exhibit B. Donor and Donee agree to any other documents reasonably required to close the transaction. Section 6. Possession. Donor shall deliver possession of the Property to Donee at Closing, free and clear of any rights of other persons to occupy or use the Property. Section 7. Use of Property; Conditions Subsequent; Remedies. (a) Donee will use the Property for the development of a residential housing unit in accordance with the City's Southeast Neighborhood Master Plan.