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-PURCHASE OCT 29 <br />``LGMEMENT 2007 <br />THIS AGREEMENT, entered into this By <br />between, REV. SAM FRISON 312 EAST CALVE day of Co <br />hereinafter referred to as the "Buyer," and the Civil C T 2001, by an <br />Of the State of Lzdiaita, hereinafter referred t SOUTH BEND INDIANA 46613 <br />City of South Bend, a in <br />corporation <br />o as the "City." <br />WITNESSETH: <br />WHEREAS, I. C. 36-1-1 I establishes the procedures for the sale and rental of real property <br />owned by the City of South Bend; and <br />iv cWHEREAS, tl7e board "id statute; <br />Works (I��rainafter referred to as the Board-� <br />ut tine provisions ovisios of said and <br />al-rygis one <br />nowcred <br />WHEREAS, the Board has determined that: <br />1. The highest and best use of certain real property owned b Y the City is by sale to an <br />abutting landowner; <br />2. The cost to the public of maintaining said real properties own <br />or exceeds the established fair market value of said real properties; <br />ed by the City equals <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 s <br />than TWO THOUSAND DOLLARS ($2,000.00) <br />and <br />aid real property is Less <br />WHEREAS, the Board appointed a licensed independent appraiser Particular real property; and <br />PP ser who appraised the <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 P P y at said price; and <br />WHEREAS, pursuant to I. C. 36-1-11-5, the Board is empowered to negotiate and <br />real property to the abutting landowner who submits the highest offer for said real sell said <br />WHEREAS, the offer of the Buyer in the amount of three hund propertY� and <br />Dollars was offered and accepted as the best offer for said property, red seventy five ($375.00) <br />NOW, THEREFORE, it is agreed by and between the parties hereto, and f <br />consideration of the promises and the mutual covenants herein contained, as follows: <br />or and in <br />I • The City agrees to sell and Buyer agrees to buy the foil r <br />Joseph County, Indiana: g property located in St. <br />1522 Catalpa Street <br />Key No. 18-8025-0999 <br />for the sum of $375.00. <br />3• <br />2• Buyer agrees to pay the purchase price and recordin <br />g fee in full at the time of closing. <br />Buyer agrees to pay all title and abstract costs <br />shall desire or•request• involved in said transaction which it <br />4• Tlie c°rrVe ante not used as a of the aforementioned <br />building site for -real Properties is made so long as <br />purposed of a new, single-family construction site. the lots are <br />