Resolution No 45-2022 - Accepting Purchase of Real Property SBCSC Admin. Building

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Assistant Superintendent of Business and Finance 215 South Dr. Martin Luther King Jr. Blvd. South Bend, Indiana 46601 Seller shall return a signed copy of this Agreement to the following representative (“Buyer’s Representative”): Daniel T. Parker Controller Department of Administration and Finance City of South Bend 1200 N. County-City Building 227 W. Jefferson Blvd. South Bend, Indiana 46601 3.PURCHASE PRICE The purchase price for the Property shall be Two Million Eight Hundred Thousand Dollars ($2,800,000.00) (the “Purchase Price”), payable by Buyer to Seller via wire in US Dollars at the closing described in Section 14 below (the “Closing,” the date of which is the “Closing Date”). 4.BUYER’S DUE DILIGENCE A.Investigation. Buyer’s obligation to complete the purchase of the Property is conditioned upon the satisfactory completion, in Buyer’s discretion, of Buyer’s Due Diligence, including, without limitation, Buyer’s examination, at Buyer’s sole expense, of zoning and land use matters, environmental matters, and real property title matters. B.Due Diligence Period. Buyer shall have a period of one hundred twenty (120) days following the Contract Date to complete its survey, inspection, and examination of the Property in accordance with this Section 4 (the “Due Diligence Period”). Buyer may provide written notice to Seller, to the representative described in Section 2 above, that Buyer waives the remainder of the one hundred twenty (120) day Due Diligence Period. Upon such written notice, the Parties may proceed to Closing prior to the expiration of the Due Diligence Period described in this Section. C.Authorizations During Due Diligence Period. During the Due Diligence Period, Seller authorizes Buyer at Buyer’s expense to: (i)enter upon the Property during reasonable times during Seller’s normal business hours and with advance notice to Seller, or to request Seller’s permission for Buyer’s agents to enter upon the Property for purposes of examination or inspection; provided, that Buyer may not take any action upon the Property which defaces, threatens, or damages the Property or reduces the value thereof. Buyer may not conduct any testing at the Property without Seller’s express prior written consent. Further provided, Buyer shall promptly restore the Property to substantially the same condition prior to entry. Said inspections are to be at Buyer’s expense by qualified, proficient, licensed inspectors or contractors selected by Buyer. Inspections may include, but are not limited to, the presence of asbestos, hazardous and/or toxic materials, underground storage tanks and any other