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#2576- Deed; PURCHASE AGREEMENT 1711 Marietta
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#2576- Deed; PURCHASE AGREEMENT 1711 Marietta
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PURCHASE AGREEMENT <br />THIS AGREEMENT, entered into day of <br />, 1994, by and between Sandra L. Pfaller, <br />hereinafter referred to as the "Buyer," and the Civil City of <br />South Bend, a municipal corporation of the State of Indiana, <br />hereinafter referred to as the "City." <br />WITNESSETH: <br />WHEREAS, I.C. 36-1-11 establishes the procedures for the <br />sale and rental of real property owned by the City of South Bend; <br />and <br />WHEREAS, the Board or Public Works (hereinafter referred to <br />as the "Board") is empowered to carry out the provisions of said <br />.4'CS tt3t ei ztnC1 <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 <br />property owned by the City equals or exceeds the established fair <br />market value 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 property is less than TWO THOUSAND DOLLARS ($2,000); <br />and <br />WHEREAS, the Board appointed a licensed independent <br />appraiser who appraised the particular real property; and <br />WHEREAS, based upon the appraisal submitted, the Board has <br />established an offering price for the said property, and <br />published notice of its intention to sell said property at said <br />price; and <br />WHEREAS, pursuant to I.C. 36-1-11-5, the Board is empowered <br />to negotiate and sell said real property to the abutting <br />landowner who submits the highest offer for said real property; <br />and <br />WHEREAS, the offer of the Buyer in the amount of Three <br />Hundred and Ten Dollars ($310.00), was offered and accepted as <br />the best offer for said property. <br />NOW, THEREFORE, it is agreed by and between the parties <br />hereto, and for and in consideration of the promises and the <br />mutual covenants herein contained, as follows: <br />1. The City agrees to sell and Buyer agrees to buy the <br />following property located in St. Joseph County, Indiana: <br />Key #: 18-7047-1842.01. Lots 72 & 73 33 FT S. END PT <br />EA H STUDEBAKERS 1ST, more commonly known as 1713 <br />Marietta <br />for the sum of $310.00. <br />2. Buyer agrees to pay the purchase price and recording <br />fee in full at the time of closing. <br />Buyer agrees to pay all <br />:d in said transaction which <br />title and abstract costs <br />it shall desire or request. <br />
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