Real Property Transfer Agreement - Affordable HomeMatters Indiana LLC Intend Indiana

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REAL PROPERTY TRANSFER AGREEMENT This Real Property Transfer Agreement is entered into as of February 25, 2025 (the "Effective Date"), by and between the City of South Bend, acting by and through its Board of Public Works, of 1300 N. County -City Building, 227 W. Jefferson Blvd., South Bend, Indiana 46601 (the "City") and Affordable HomeMatters Indiana LLC, an Indiana non-profit corporation, with its registered address being 1704 Bellefontaine St., Indianapolis, Indiana 46202 (the "Affordable HomeMatters Indiana") (each a "Party," and together the "Parties"). RECITALS A. The City is a municipal corporation existing and operating pursuant to the laws of the State of Indiana. B. Intend Indiana ("Intend") is an Indiana non-profit corporation organized exclusively to conduct, support, encourage, and assist such charitable, educational, and other programs and projects as are described both in Section 170(c)(2)(B) and 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. C. Affordable HomeMatters Indiana LLC ("Affordable HomeMatters Indiana") is a single member limited liability company owned and operated by Intend to advance the charitable purpose of Intend. D. The City owns the certain real property described in attached Exhibit A (the "Property"). E. Intend, through Affordable HomeMatters Indiana, desires to acquire ownership of the Properties from the City for the opportunity to apply for funding to build affordable housing and desires to enter into an agreement for acquisition of the properties. F. Pursuant to LC. 36-1-11-1(b)(7), a sale or lease of property by the City to an Indiana non-profit corporation organized for educational, literary, scientific, religious, or charitable purposes that is exempt from federal income taxation under Section 501 of the Internal Revenue Code is not subject to the disposition requirements of I.C. 36-1-11. G. The City, acting by and through the Board of Public Works, has determined that conveying the Property to the Intend under the terms of this Agreement is in the best interests of the residents of the City. NOW, THEREFORE, in consideration of the mutual covenants stated herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Intend agree as follows: