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RESOLUTION NO. 3660 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION APPROVING THE CERTIFICATE OF COMPLETION <br />FOR PROPERTY BROS LLC AND AUTHORIZING RELATED ACTS <br />WHEREAS, the South Bend Redevelopment Commission ("Commission") <br />exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953 <br />(Ind. Code § 36-7-14 et seq., the “Act”); and <br />WHEREAS, in furtherance of its purposes under the Act, the Commission <br />entered into a certain Real Estate Purchase Agreement by and between the Commission <br />and Property Bros LLC (the “Buyer”), dated June 13, 2024, as further amended by the <br />First Amendment to Real Estate Purchase Agreement dated December 11, 2025 (the <br />“Agreement”); and <br />WHEREAS, under the original Agreement, three parcels of property were <br />conveyed to Buyer in exchange for Buyer’s agreement to complete certain Post-Closing <br />Development Obligations on those three parcels; and <br />WHEREAS, the Buyer has performed all of its Post-Closing Development <br />Obligations with regard to two of the parcels (the “Completed Parcels”), and the <br />Commission wishes to acknowledge and affirm such completion the Completed Parcels <br />by issuing a Certificate of Completion; and <br />WHEREAS, the Commission and the Buyer agreed to create a voluntary process <br />to allow Buyer to reconvey the remaining parcel of the Property that was not developed <br />(the “Undeveloped Parcel”) back to the Commission; and <br />WHEREAS, the Commission desires to issue a Certificate of Completion for <br />the Completed Parcels, and upon confirmation of the reconveyance of the Undeveloped <br />Parcel to the Commission and proper recordation thereof, cause the Certificate of <br />Completion recorded. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend <br />Redevelopment Commission as follows: <br />1.The Commission hereby approves and the Certificate of Completion <br />for the Completed Parcels in the form attached hereto as Exhibit A and authorizes <br />the President and Secretary of the Commission to execute and attest, respectively, <br />said Certificate of Completion. <br />2.The Certificate of Completion shall be held in escrow by the City’s <br />Department of Community Investment until the Undeveloped Parcel is reconveyed to