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AMENDMENT TO ACCEPTED COUNTER -OFFER The City of South Bend Redevelopment Commission (the "Commission ") and the City of South Bend Department of Public Works, acting by and through its Board of Public Works (the "Board ") (collectively, the "City ") hereby submits the following amendment to counter- offer to that Acquisition Purchase Offer of Gates and Gates Realty, LLC, (hereafter "Owner") set forth in the Commission 's letter dated June 13, 2007 concerning the real estate commonly known as 4223 South Main Street, South Bend, Indiana, and further identified by Tax Key Numbers 23- 1025 -1431 and 23- 1025 -1432 (the "4223 Main Street Property "). This Amendment to the Accepted Counter -Offer modifies the extent and number of properties that were previously agreed to and referred to as "Excess Crossover Project Parcels ". Owner proposes to sell to the Board a portion of the 4223, 4315 and 4319 Main Street and 4418 S. Lafayette Blvd. Properties (1) in consideration of and in exchange for the following which the Owner acknowledges has a value to it of an amount of no less than $65,500.00: (a) The demolition and removal of the structures existing on all other real property of the Owner located within the area bordered by Metalmation Drive, South Main Street, Ireland Road and Lafayette Boulevard (the "Development Block ") under the supervision of the Commission and through forces arranged by the City and further including an assessment and accompanying report and testing or other analysis as deemed necessary or appropriate for the presence of asbestos and other hazardous substances or materials or similar environmental concerns in or around the structures to be demolished (collectively, the "Demolition Related Activities ") and with no cost to Owner arising therefrom. Owner agrees to reimburse the Commission any amounts necessarily incurred by the Commission in excess of $65,500 in performing the Demolition Related Activities after first consulting with Owner over the need and expected costs for same. (b) The transfer and conveyance by the Board to Owner of title to the excess or remainder of the 4309 South Main Street — Key No. 23- 1025 -1433 not to be used in connection with the Main - Lafayette Crossover Project (the "Crossover Project "), at no cost to Owner but subject to any rights of way or easements created by or as a result of the Crossover Project. The area of transfer is detailed on Attachment "B ". (c) The conveyance by the Board to the Owner of title to the following properties located within the Development Block, commonly known as: (i) 201 W. Ireland Road - Key No. 23- 1025 -1358; and (d) The construction of a storm water detention facility for benefit of Owner as detailed on Attachment "A ". The ownership of which shall be maintained by the Board with drainage easement rights for benefit of the following developed parcels: (i) 4223 South Main Street — Key No. 23- 1025 -1431; (ii) 4309 South Main Street — Key No. 23- 1025 -1433; (iii) 4315 South Main Street — Key No. 23- 1025 -1434; (iv) 4319 South Main Street — Key No. 23- 1025 -1349; and, (v) 4418 South Lafayette Blvd. — Key No. 23- 1025 -1364. For the purposes of off -site drainage capacity. The developed parcels are depicted on Attachment "D ". -1-