Interlocal Cooperative Agreement - Development of Real Property in Renewable Energy Drive Subdivision

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Page 1 of 16 INTERLOCAL COOPERATIVE AGREEMENT Between THE INDIANA DEPARTMENT OF TRANSPORTATION And CITY OF SOUTH BEND Concerning DEVELOPMENT OF REAL PROPERTY in RENEWABLE ENERGY DRIVE SUBDIVISION SECTION ONE This Interlocal Agreement (“Agreement”) is made by and between the State of Indiana (“State”), acting by and through the Indiana Department of Transportation (hereinafter referred to as “INDOT”), and the City of South Bend, Indiana, acting by and through its Board of Public Works (hereinafter referred to as the “CITY”), collectively referred to as the “PARTIES”, is executed pursuant to the terms and conditions set forth herein and shall be effective as of the date of approval by the Office of the Indiana Attorney General. In consideration of those mutual undertakings and covenants, the PARTIES agree as follows: RECITALS WHEREAS, INDOT seeks to develop and construct a new maintenance facility for its Mishawaka region, which will also include a salt building and an equipment storage building (hereafter, “Mishawaka Unit Site”); and WHEREAS, INDOT has located real property in the CITY that INDOT has determined would be an ideal location for the Mishawaka Unit Site, based on the location of the Property, due to its access to state roads INDOT is responsible for maintaining, as well the available size of the property for sale; and WHEREAS, INDOT is seeking to purchase a portion of this real property (“Property”) pursuant to the terms and conditions outlined in the Real Estate Offer and Purchase Agreement (“Purchase Agreement”), attached as Exhibit 1 and incorporated by reference, from Martin Blad Farms, Inc. (“Seller”); a copy of the real estate description for the Property is attached to the Purchase Agreement as Exhibit A, incorporated by reference; and WHEREAS, INDOT seeks to complete all necessary development, design, engineering, construction, and other work needed to construct the Mishawaka Unit Site (the “Facility Project”) and has an interest in ensuring that it has the ability to oversee the professionals and contractors involved with the development of the Property to ensure that all services and work performed are to INDOT’s satisfaction; and WHEREAS, the Seller cannot proceed forward with the sale of the Property to INDOT unless the Property is subdivided from the Seller’s larger parcel, and under Indiana law, this subdivision approval comes from the CITY; and WHEREAS, INDOT seeks to enter into an agreement with the CITY regarding developments needed on the Property, which includes construction and connection of a water main system, as well as other specific improvements, to provide assurances needed for the CITY to approve a subdivision of the Property from the Seller’s larger parcel; and