Redevelopment Commission Agenda & Packet 06.11.26

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AUDITOR’S RECORD TRANSFER NO. TAXING UNIT DATE KEY NO. See Attached Exhibit 1 SPECIAL WARRANTY DEED THIS INDENTURE WITNESSETH, that the City of South Bend, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission, 215 S. Dr. Martin Luther King Jr. Blvd., Suite 500, South Bend, Indiana (the “Grantor”) CONVEYS AND SPECIALLY WARRANTS to Greater Lowell Holdings LLC, an Indiana Limited Liability Company, with a principal mailing address of P.O. Box 148, South Bend, Indiana 46624- 0148 (the “Grantee”), for and in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the following real estate located in St. Joseph County, Indiana (the “Property”): See Attached Exhibit 1 The Grantor warrants title to the Property only insofar as it might be affected by any act of the Grantor during its ownership thereof and not otherwise. The Grantor hereby conveys the Property to the Grantee free and clear of all leases or licenses; subject to real property taxes and assessments; subject to all easements, covenants, conditions, restrictions, and other matters of record; subject to rights of way for roads and such matters as would be disclosed by an accurate survey and inspection of the Property; subject to all applicable building codes and zoning ordinances; and subject to all provisions and objectives contained in the Commission’s 2024 River East Development Area Plan, as thereafter amended from time to time, and any design review guidelines associated therewith. Pursuant to Section 11 of the Purchase Agreement, the Grantor conveys the Property to the Grantee by this deed subject to certain conditions subsequent. In the event the Grantee fails to perform the Property Improvements in accordance with Section 11(A) of the Purchase Agreement, or comply with its post- closing obligations under Section 11(B) of the Purchase Agreement, including, without limitation, failing to cause a business to commence operation from the Property consistent with Buyer’s Use and to operate such business for a continuous period of not less than one (1) year thereafter, then the Grantor shall have the right to re-enter and take possession of the Property and to terminate and revest in the Grantor the estate conveyed to the Grantee by this deed and all of the Grantee’s rights and interests in the Property without offset or compensation for the value of any improvements to the Property made by the Grantee. The recordation of a Certificate of Completion in accordance with Section 11 of the Purchase Agreement will forever release and discharge the Grantor’s reversionary interest stated in this paragraph. Page 1 of 3