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r[JRC =.ASE AGREEMENT <br />THIS A-GREEMENT, e- =ered into <br />1997, b and b �.. this day a� Y e_we�n r=r' ccn Home D r ----- <br />referred tO a5 the "Dev=_O pr n Drea as, In`., her2� T:arte= <br />a municipal corporation: -p� and the Civil C_ty of South Bend, <br />referred to as the "Cit�c; the State of Indiana, hereinafter <br />WITNESSETH: <br />WHEREAS, I.C. 36-1-it-4.2 allows the City <br />not acquired through emir 1 to sell property <br />ent domain for the purpose of promoting <br />an economic development project or facilitating compatible land <br />use planning; and <br />WHEREAS, the Board of Public Works (hereinafter referred to <br />as the "Board"), is empowered to carry out the provisions of said <br />statute; and <br />WHEREAS, the City has offered to sell and the Developer is <br />willing to buy the property described in Exhibit A (Property) <br />Which is made a part of this agreement and to redevelop the <br />Property according to this agreement (Agreement); and <br />WHEREAS, the City believes that developing the Property <br />according to the Agreement is in the best interest of the health, <br />safety and welfare of the City and its residents. <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 />SECTION I. SALE, PURCHASE PRICE. <br />Subject to all of the terms of this Agreement, the City <br />agrees to sell and the Developer agrees to purchase the Property <br />for One Thousand Nine Hundred Dollars Price), to be paid in cash or by certi($1,900.00)(Purchase <br />fied check when the deed <br />conveying the property to the Developer is delivered. <br />SECTION II. CONVEYANCE OF PROPERTY. <br />the <br />A. Form of Deed. Subject to the terms of this Agreement, <br />quitCclaimity <br />shall convey <br />n ey to the Developer title to the Property by <br />B. Time and Place of Closin r on Sa?e of the Property. <br />Subject to the terms and conditions r; <br />City shall deliver the Deed and t.._s Agreement, the <br />possessiC. of the Property to the <br />