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WAIVER OF THE RIGHT OF REDEMPTION <br />By and Between <br />South Bend Redevelopment Commission <br />The statutory heirs of Louise Franklin <br />(1509 S. Kendall St.) <br />June 30, 2014 <br />THIS WAIVER OF THE RIGHT OF REDEMPTION, dated as of the 30th <br />day of June, 2014, is made and entered into between the South Bend Redevelopment <br />Commission, for and on behalf of the City of South Bend, Department of Redevelopment <br />(the "City ") and the statutory heirs of Louise Franklin (collectively, the "Owner "). <br />RECITALS <br />WHEREAS, the City desired to acquire a parcel of real property, including all <br />improvements thereon, at the time owned by the Owner for the redevelopment purposes <br />of the City, which parcel is more particularly described at Exhibit A (the "Property"); and <br />WHEREAS, the City entered into a Purchase Agreement with the Owner on May <br />23, 2013 to acquire the Property; and <br />WHEREAS, the Purchase Agreement became invalid when it was discovered that <br />liens were attached to the property; and <br />WHEREAS, the Owner became delinquent on property taxes for the Property; <br />and <br />WHEREAS, the Property was put on the delinquent property tax list pursuant to <br />IC 6- 1.1 -24; and <br />WHEREAS, the City purchased the Property in a tax sale pursuant to the <br />regulations in IC 6- 1.1 -24; and <br />WHEREAS, the tax sale adhered to the procedures for conducting a tax sale under <br />IC 6- 1.1 -24; and <br />WHEREAS, the Owner has the right to redeem the Property if the Owner pays the <br />amount specified in IC 6- 1.1 -25 -2; and <br />WHEREAS, the City will receive a tax deed for the Property free of all liens, <br />mortgages, and encumbrances, excluding tax warrants, if the Owner does not redeem the <br />Property pursuant to IC 6- 1.1 -25 -4; and <br />