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AGREEMENT TO Bi1Y AND SELL REAL ESTATE <br /> This Agreement To Buy And Sell Real Estate ("Agreement") is made and entered <br /> into on (the "Contract Date"), by and between New Birth Christian Ministries <br /> Inc, ("Seller") and the City of South Bend, Indiana, by and through its Board of Public <br /> Works ("Buyer" or the"Board")(each a"Party"and together the"Parties"). <br /> RECITALS <br /> A. The Board has custody of and may maintain all real property owned by the <br /> City of South Bend, Indiana(the"City")pursuant to I.C. 36-9-6-3. <br /> B. The City, acting by and through the Board, may purchase land or structures <br /> in accordance with the requirements of Ind. Code §36-1-10.5. <br /> C. The Board desires to purchase from Seller certain real property located at <br /> 749 Harison Ave., South Bend,Indiana,and more particularly described in attached Exhibit <br /> A(the "Property"). <br /> D. Seller desires to sell the Property to the Board on the terms and conditions <br /> stated in this Agreement. <br /> THEREFORE, in consideration of the mutual covenants and promises in this <br /> Agreement and other good and valuable consideration, the receipt and sufficiency of which <br /> are hereby acknowledged, Buyer and Seller agree as follows: <br /> 1. SALE OF PROPERTY AND PURCHASE PRICE <br /> Subject to the terms and conditions of this Agreement,Seller agrees to sell,convey,assign, <br /> and transfer to Buyer the Property at Closing (defined below). The purchase price for the <br /> Property shall be One Hundred and Eighty-Eight Thousand Five Hundred Dollars <br /> ($188,500.00) (the "Purchase Price"), payable by Buyer to Seller at the Closing as <br /> described in Section 11. <br /> 2. }3UYER'S DUE DILIGENCE <br /> A. Investigation. Seller acknowledges that Buyer's determination to purchase <br /> the Property requires a process of investigation (Buyer's "Due Diligence") into various <br /> matters. Therefore, Buyer's obligation to complete the purchase of the Property is <br /> conditioned upon the satisfactory completion, in Buyer's discretion, of Buyer's Due <br /> Diligence, including, without limitation, Buyer's examination, at Buyer's sole expense, <br /> of zoning and land use matters, environmental matters, real property title matters, and the <br /> like, as applicable. <br /> B. Authorizations During Due Diligence Period. Seller authorizes Buyer, as <br /> of the Contract Date and continuing until the end of the Due Diligence Period (as defined <br /> 1 <br />