Real Property Transfer Agreement - 1813 S. Carrol St. for Dvlpmnt. of Affordable Housing – 466 Works Community Dvlpmt. Corp.

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1 REAL PROPERTY TRANSFER AGREEMENT This Real Property Transfer Agreement is entered into as of August 10, 2021 (the “Effective Date”), by and between the City of South Bend, acting by and through its Board of Public Works, of 1300 N. County-City Building, 227 W. Jefferson Blvd., South Bend, Indiana 46601 (the “City”) and 466 Works Community Development Corporation, an Indiana non-profit corporation, with its registered address being 2043 South Bend Avenue, PMB 352, South Bend, IN 46637 (the “Organization”) (each a “Party,” and together the “Parties”). RECITALS A. The City is a municipal corporation existing and operating pursuant to the laws of the State of Indiana. B. The Organization is an Indiana non-profit corporation organized exclusively to conduct, support, encourage, and assist such charitable and other programs and projects as are described both in Section 170(c)(2)(B) and 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. C. The City and the Organization have entered into an Agreement for Programs and Services, dated December 20, 2018, as amended by the First Addendum to Agreement for Programs and Services, dated May 14, 2019, as amended by the Second Addendum to Agreement for Programs and Services, dated November 26, 2019 (together, the “Services Agreement”). D. The City owns the certain real property described in attached Exhibit A (the “Property”). E. In accordance with the terms of the Services Agreement, the Organization desires to acquire ownership of the Property from the City. F. Pursuant to I.C. 36-1-11-1(b)(7), a sale or lease of property by the City to an Indiana non-profit corporation organized for educational, literary, scientific, religious, or charitable purposes that is exempt from federal income taxation under Section 501 of the Internal Revenue Code is not subject to the disposition requirements of I.C. 36-1-11. G. The City, acting by and through the Board of Public Works, has determined that conveying the Property to the Organization under the terms of this Agreement and in accordance with the Services Agreement is in the best interests of the residents of the City. NOW, THEREFORE, in consideration of the mutual covenants stated herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and the Organization agree as follows: