Purchase Agreement - Two (2) Vacant Residential Lots Adjacent to City Retention Basin for Upcoming Park

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1 PURCHASE AGREEMENT THIS AGREEMENT, entered into this ____ day of ____________, 2021, by and between, Dwayne Borkholder, a private individual, with an address of 11601 Stanton Rd., Bremen, IN 46506, hereinafter referred to as the “Seller,” and the City of South Bend, acting by and through its Board of Public Works (“Board”), a municipal corporation of the State of Indiana, hereinafter referred to as the “City.” WITNESSETH: WHEREAS, IC 32-24-1 establishes the procedures for the acquisition of property for certain public purposes by the City; and WHEREAS, the Board is empowered to carry out the provisions of said statute; and WHEREAS, the City has determined that the acquisition of 3612 E. Washington St., South Bend, IN 46615 and Vac. Lot 36th Lot 51, South Bend, IN 46615 (“Property”) is in the best interest of the City to incorporate these properties with the City’s adjacent retention basin and for future projects; and WHEREAS, consistent with the statutory requirements of IC 32-24-1, the Board conducted two (2) appraisals of the Property and submitted an offer equal to the average of those appraisals in the amount of Sixteen Thousand Two Hundred and Fifty Dollars ($16,250.00); and WHEREAS, the Seller accepted the City’s offer; and NOW, THEREFORE, it is agreed by and between the parties hereto, and for and in consideration of the promises and the mutual covenants herein contained, as follows: 1. The City agrees to buy the Property located in St. Joseph County, Indiana: Parcel Number: 71-09-08-279-002.000-026 Tax ID: 018-5062-2158 Legal Description: LOT 51 & EAST 1/2 VAC ST BELMONT ADD Commonly Known As: VAC LOT 36TH LOT 51, SOUTH BEND, IN 46615 Parcel Number: 71-09-08-279-001.000-026 Tax ID: 018-5062-2156 Legal Description: LOT 52 & EAST 1/2 VAC ST BELMONT ADD Commonly Known As: 3612 E. WASHINGTON ST., SOUTH BEND, IN 46615 for the sum of $16,250.00 (“purchase price”). 24th. August