#1948- Deed; QUIT-CLAIM DEED 33 ft E End Lot 6

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PURCHASE AGREEMENT THIS AGREEMENT, entered into this �`1 day of 1996, by and between Robert Morrell and Dionisia Morrell, husband and wife, hereinafter referred to as the "Buyers," and the Civil City of South Bend, a municipal corporation of the State of Indiana, hereinafter referred to as the "City." WITNESSETH: WHEREAS, I.C. 36-1-11 establishes the procedures for the sale and rental of real property owned by the City of South Bend; and WHEREAS, the Board of Public Works (hereinafter referred to as the "Board") is empowered to carry out the provisions of said statute; and WHEREAS, the Board has determined that: 1. The highest and best use of certain real property owned by the City is by sale to an abutting landowner; 2. The cost to the public of maintaining said real property owned by the City equals or exceeds the estimated fair market value of said real property; 3. It is economically unjustifiable to sell real property owned by the City in accordance with the procedures set forth in I.C. 36-1-11-4. WHEREAS, the Board has determined that the assessed value of said real property is less than TWO THOUSAND DOLLARS ($2,000); and WHEREAS, the Board published notice of its intention to sell said property; and WHEREAS, pursuant to I.C. 36-1---11-5, the Board is empowered to negotiate and sell said real property to the abutting landowner who submits the highest offer for said real property; and WHEREAS, the Buyers made an offer to purchase the property in the amount of One Hundred Dollars ($100.00), this offer being the only offer received; and WHEREAS, the City accepted the offer of Buyers in the amount of One Hundred Dollars ($100.00). 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 sell and Buyers agree to buy the following property located in St. Joseph County, Indiana: Key Number: 18-7042-1649 33 ft E End Lot 6 Dubails lst 123 East Dayton, South Bend, Indiana. for the sum of $100.00. 2. Buyers agree to pay the purchase price, recording fee, and advertising costs in full at the time of closing. 3. Buyers agree to pay all title and abstract costs involved in said transaction which it shall desire or request.