#2563- Deed; QUIT-CLAIM DEED Ed F. Dubails Sub 841 South Grant

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PURCHASE AGREEMENT TS AGREEMENT, entered into this j r day of _ , I92G it' and HI between Richard James, hereinafter referred to as the "Buyer," 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 ($2,000.00); 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 Buyer made an offer to purchase the property in the amount of Fifty Dollars ($50.00), this offer being the only offer received; and WHEREAS, the City accepted an offer of Buyer in the amount of Fifty Dollars ($50.00). 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 Buyer agrees to buy the following property located in St. Joseph County, Indiana; Key Number 18-4004-0138 841 South Grant Street for the sum of $50.00. 2. Buyer agrees to pay the purchase price, recording fee, and advertising costs in full at the time of closing. 3. Buyer agrees to pay all title and abstract costs involved in said transaction which it shall desire or request. 4. The conveyance of the aforementioned real property is made so long as the lot is not used for a building site for purposes of a new, single-family construction site.