#2889- Deed; QUIT-CLAIM DEED 25 ft. East side of Lot 16, Richland 1st Addition

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PURCHASE AGREEMENT THIS AGREEMENT, entered into this _ day of 2003, by and between, G&M PROPERTIES 14299 DAY ROAD MISI-IAWA rN IANA 46545 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-I-1 1 establishes the procedures for the sale and rental of real property owned by the City of South Bend; and WHEREAS, the board ofPublic Works (hereinafter referred to as the "Board") is empowered to carry out the provisions of said statute; and WHEREAS, the Board has determined that: 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 properties owned by the City equals or exceeds the established fair market value of said real properties; 3. It is economically unjustifiable to sell real property owned by the City in accordance with the procedures set forth in 1. 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, pursuant to I. C. 36-1-1 I-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 offer of the Buyer in the amount of Two Hundred Six Dollars ($206,00) was offered and accepted as the best offer for said property. NOW, THEREFORE, it is agreed by and between theherein contained, as a rties hereto, a-followd for and in consideration of the promises and the mutual covenants 1. The City agrees to sell and Buyer agrees to buy the following property located in St. Joseph County,' Indiana: Key No. 18-8110-4143 West 35ft. Of Lot 15, Richland I` Addition Coy the surn of $206.00. 2. Buyer agrees to pay the purchase price and recording fee in full at the time of closing. Buyer agrees to pay all title and abstract costs involved in said transaction which it shall desire or request. 4. The conve ance of the aforementioned real properties is made so lonb as the lots are not used as a building site for purposed of a new, single-family construction site. 5. At the time to closing and after a submission of a receipt for the total purchase price has been submitted by the Controller to the Board of Public Works, the Board shall cause a Quit - Claim deed for each of the properties to be prepared, which deed shall be signed by the Mayor and attested to by the City Clerk with the Seal of the City affixed, which shall then be recorded with the St. Joseph County Recorder's Office.