6B1 Waiver of Right of Redemption 1509 S. Kendall

Home Browse Search

WHEREAS, the City maintains a desire to acquire the Property; and WHEREAS, the City has presented the Owner with an offer for the Owner to waive all rights of redemption in exchange for a monetary amount; and WHEREAS, the Owner has agreed to the City's offer and the parties desire to memorialize their agreement pursuant to the terms and conditions set forth herein. NOW, THEREFORE, the Parties hereby agree and represent as follows: 1. The Owner hereby agrees to waive all rights of redemption in the Property in exchange for the sum of Fifty Nine Thousand, One Hundred and 00 /100 Dollars ($59,100.00) less the amount the City has to pay to acquire a clean title for the Property, subject to the following terms: a. The Owner agrees to not redeem the Property pursuant to IC 6- 1.1 -25. b. The City agrees to pay the Owner the sum of Fifty Nine Thousand, One Hundred and 00 /100 Dollars ($59,100.00) less all costs and other amounts incurred by the City to acquire a clean title for the Property and less the payment of legal fees in the amount of Four Thousand and 00/100 Dollars ($4,000.00) to Jones Obenchain, LLP. C. The City will pay the Owner after the expiration of the right of redemption period and only after the City receives the Tax Deed for the Property pursuant to IC 6- 1.1- 25 -4.6, and receives evidence of a clean title report from Meridian Title. 2. This Waiver Agreement embodies the entire agreement between the parties and cannot be varied except by the written agreement of the parties. No representation, promise, or inducement not included in the Agreement shall be binding upon the parties hereto. 3. All terms and conditions of this Waiver Agreement are hereby made binding on the successors and permitted assigns of both parties hereto. 4. This Waiver Agreement shall be governed by and construed in accordance with the laws of the State of Indiana and venue for any action shall be St. Joseph County, Indiana. 5. If any provision of this Waiver Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provision of this Waiver Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.