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PURCHASE AGREEMENT <br />THIS AGREEMENT, entered into <br />this <br />day of , <br />1997, by and between William Harris, hereinafter referred to as the <br />"Buyer," and the Civil City of South Bend, a municipal corporation <br />of the State of Indiana, hereinafter referred to as the Fvcity. " <br />WITNESSETH: <br />WHEREAS, I.C. 36-1-11 establishes the procedures for the sale <br />and rental of real property owned by the City of South Bend; and <br />WHEREAS, the Board of Public Works (hereinafter referred to as <br />the "Board") is empowered to carry out the provisions of said <br />statute; and <br />WHEREAS, the Board has determined that: <br />1. The highest and best use of certain real property owned <br />by the City is by sale to an abutting landowner; <br />2. The cost to the public of maintaining said real property <br />owned by the City equals or exceeds the estimated fair market value <br />of said real property; <br />3. It is economically unjustifiable to sell real property <br />owned by the City in accordance with the procedures set forth in <br />I.C. 36-1-11-4. <br />WHEREAS, the Board has determined that the assessed value of <br />said real properties is less than TWO THOUSAND DOLLARS ($2,000.00); <br />and <br />WHEREAS, pursuant to I.C. 36-1-11-5, the Board is empowered to <br />negotiate and sell said real properties to the abutting landowner <br />who submits the highest offer for said real Properties; andWHEREAS, the Buyer made an offer to purchase the properties in <br />the amount of Ten Dollars ($10.00) each, this offer being the only <br />offer received; and <br />WHEREAS, the City accepted the offer of Buyer in the amount of <br />Ten Dollars($10.00) each. <br />NOW, THEREFORE, it is agreed by and between the parties <br />hereto, and for and in consideration of the promises and the mutual <br />covenants herein contained, as follows: <br />1. The City agrees to sell and Buyer agreesto <br />buy the <br />following properties located in St. Joseph County, <br />Key Vs: 18-2025-0800 2221 Smith St. <br />18-2025-0803 2215 Smith St. <br />for the sum of $20.00. <br />2. Buyer agrees to pay all title and abstract costs involved <br />in said transaction which it shall desire or request. <br />