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Real Property Transfer Agreement - 710 & 714 N. Harrison Dvlpmnt. of Affordable Housing – Cross Community, Inc.
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Real Property Transfer Agreement - 710 & 714 N. Harrison Dvlpmnt. of Affordable Housing – Cross Community, Inc.
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8/10/2021 2:41:43 PM
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Board of Public Works
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Contracts
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8/10/2021
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1 <br />REAL PROPERTY TRANSFER AGREEMENT <br /> <br /> This Real Property Transfer Agreement is entered into as of August 10, 2021 (the <br />“Effective Date”), by and between the City of South Bend, acting by and through its Board of <br />Public Works, of 1300 N. County-City Building, 227 W. Jefferson Blvd., South Bend, Indiana <br />46601 (the “City”) and Cross Community, Inc., an Indiana non-profit corporation, with its <br />registered address being 707 Sherman Avenue, South Bend, IN, 46616 (the “Organization”) (each <br />a “Party,” and together the “Parties”). <br /> <br />RECITALS <br /> <br />A. The City is a municipal corporation existing and operating pursuant to the laws of <br />the State of Indiana. <br /> <br />B. The Organization is an Indiana non-profit corporation organized exclusively to <br />conduct, support, encourage, and assist such charitable, educational, and other programs and <br />projects as are described both in Section 170(c)(2)(B) and 501(c)(3) of the Internal Revenue Code <br />and is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. <br /> <br />C. The City and the Organization have entered into an Agreement for Programs and <br />Services, dated December 20, 2018, as amended by the First Addendum to Agreement for <br />Programs and Services, dated July 28, 2020, as amended by the Second Addendum to Agreement <br />for Programs and Services, dated August 10, 2021 (together, the “Services Agreement”). <br /> <br />D. The City owns the certain real property described in attached Exhibit A (the <br />“Property”). <br /> <br />E. In accordance with the terms of the Services Agreement, the Organization desires <br />to acquire ownership of the Property from the City. <br /> <br />F. Pursuant to I.C. 36-1-11-1(b)(7), a sale or lease of property by the City to an Indiana <br />non-profit corporation organized for educational, literary, scientific, religious, or charitable <br />purposes that is exempt from federal income taxation under Section 501 of the Internal Revenue <br />Code is not subject to the disposition requirements of I.C. 36-1-11. <br /> <br />G. The City, acting by and through the Board of Public Works, has determined that <br />conveying the Property to the Organization under the terms of this Agreement and in accordance <br />with the Services Agreement is in the best interests of the residents of the City. <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants stated herein, and other <br />good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br />the City and the Organization agree as follows: <br />
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