Laserfiche WebLink
PURCHASE AGREEMENT <br />1 <br />THIS AGREEMENT, entered into this day of , 2002, by and <br />between, MATTIE B. AND WILLIAM T. HOOVER, 1342 EAT H WARD, SOUTH BEND, <br />INDIANA 46629 hereinafter referred to as the "Buyer," and the Civil City of South Bend, a <br />municipal corporation of the State of Indiana, hereinafter referred to as the "City." <br />WITNESSETH: <br />WHEREAS,1. C. 36-1-11 establishes the procedures for the sale and rental of real property <br />owned by the City of South Bend; and <br />WHEREAS, the board of Public Works (hereinafter referred to as the "Board") is empowered <br />to cant' out the provisions of said statute; and <br />WHEREAS, the Board has determined that: <br />1. The highest and best use of certain real property owned by the City is by sale to an <br />abutting landowner; <br />2. The cost to the public of maintaining said real properties owned by the City equals <br />or exceeds the established fair market value of said real properties; <br />3. It is economically unjustifiable to sell real property owned by the City in accordance <br />with the procedures set forth in I. C. 36-1-11-4. <br />WHEREAS, the Board has determined that the assessed value of said real property is less <br />than TWO THOUSAND DOLLARS ($2,000.00) ; and <br />WHEREAS, the Board appointed a licensed independent appraiser who appraised the <br />particular real property; and <br />WHEREAS, based upon the appraisal submitted, the Board has established an offering price <br />for the said properties, and published notice of its intention to sell said property at said price; and <br />WHEREAS, pursuant to I. C. 36-1-11--5, the Board is empowered to negotiate and sell said <br />real property to the abutting landowner who submits the highest offer for said real property; and <br />WHEREAS, the offer of the Buyer in the amount of three hundred seventy nine dollars and <br />fifty-eight cents ($379.58) was offered and accepted as the best offer for said property. <br />NOW, THEREFORE, it is agreed by and between the parties hereto, and for and in <br />consideration of the promises and the mutual covenants herein contained, as follows: <br />1. The City agrees to sell and Buyer agrees to buy the following property located in St. <br />Joseph County, Indiana: <br />1340 Howard Street <br />Key No. 18-5093-3295 <br />for the sum of $379.58. <br />2. Buyer agrees to pay the purchase price and recording fee in full at the time of closing. <br />3. Buyer agrees to pay all title and abstract costs involved in said transaction which it <br />shall desire or request. <br />4. The conveyance of the aforementioned real properties is made so long as the lots are <br />not used as a building site for purposed of a new, single-family construction site. <br />