5A3 Purchase Agreement (1522-1526 Prairie Ave.) - Fully Executed

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REAL ESTATE PURCHASE AGREEMENT This Real Estate Purchase Agreement (this “Agreement”) is made on April 9, 2026 (the “Contract Date”), by and between the City of South Bend, Indiana, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (“Seller”) and GTO Masonry LLC, an Indiana Limited Liability Company with registered offices at 62420 Old County Road 17, Goshen, IN 46526 (“Buyer”) (each a “Party” and together the “Parties”). RECITALS A. Seller exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953, as amended, being Ind. Code 36-7-14 (the “Act”). B. In furtherance of its purposes under the Act, Seller owns three (3) parcels of real property located in South Bend, Indiana (the “City”) commonly known as 1522, 1524, and 1526 Prairie Ave, and more particularly described in attached Exhibit A (the “Property”). C. Pursuant to the Act, Seller adopted its Resolution No. 3432 on April 26, 2018, whereby Seller established offering prices for the Property and other nearby parcels, of which the offering price of Thirty-Three Thousand Five Hundred Dollars ($33,500) was established for 1522 and 1524 Prairie Ave, and the offering price of Ten Thousand Six Hundred Fifty Dollars ($10,650) was established for 1526 Prairie Ave and one other adjacent parcel. D. Pursuant to the Act, on April 26, 2018, Seller authorized the publication, on May 4, 2018 and May 11, 2018, respectively, of a notice of its intent to sell the Property and other nearby parcels and its desire to receive bids for said Property and other parcels on or before May 24, 2018, at 9:30A.M. E. On May 24, 2018, at 9:30A.M., Seller received no bids for the Property or other parcels offered. F. Buyer subsequently expressed interest in purchasing the Property for purposes of constructing an office and distribution center. G. Having satisfied the conditions stated in Section 22 of the Act, Seller now desires to sell the Property to Buyer on the terms stated in this Agreement. THEREFORE, in consideration of the mutual covenants and promises in this Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, Buyer and Seller agree as follows: 1. RECITALS The recitals above are hereby incorporated into this Agreement by reference.