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PERSONAL GUARANTY THIS GUARANTY (this "Guaranty") is dated as of , 2014 by ("Guarantor"), to and for the benefit of South Bend Redevelopment Commission, ("Commission"), its successors and assigns. A. The Commission has determined it is in the best interest of the community to sell certain property located at 6100 Nimtz Parkway and commonly known as the `Blackthorn Golf Course" (the "Property"), in the Airport Economic Development Area, South Bend, Indiana, and has previously approved an offering sheet to provide for the disposition of the Property(the"Offering Sheet"). B. The Commission is now accepting proposals from the public to purchase the Property for the required use as a public 18-hole golf course and clubhouse as set forth in the Offering Sheet made available by the Commission, subject to restrictions as referenced in "An Agreement Among the South Bend Redevelopment Authority, the South Bend Redevelopment Commission, and the St. Joseph County Airport Authority for the Operation and Management of Blackthorn Golf Course, dated October 8, 1992." C. [ /Guarantor] (the "Bidder") has submitted the required bid forms and other pertinent information (collectively, the "Proposal") to the Commission for the Commission's consideration. D. To secure the execution of a disposition agreement between the Commission and the Bidder (the "Agreement") to provide for the purchase of the Property and use thereof in accordance with the Offering Sheet and the terms of the Agreement, the Commission requires the Guarantor to submit a faithful performance guaranty in the amount of ten percent (10%) of the proposed purchase price provided in the Proposal which the Commission has determined may be satisfied by the execution of a Personal Guaranty by or on behalf of the Bidder. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby are acknowledged, Guarantor agrees as follows: 1. Amount of Guaranty. This is a guaranty of payment of the faithful performance guaranty of ten percent (10%) of the amount offered for the purchase of the Property set forth in the Proposal ("Faithful Performance Amount"). The Faithful Performance Amount is equal to Dollars ($ ). 2. Guaranty. Guarantor unconditionally and irrevocably guarantees and promises the punctual payment of the Faithful Performance Amount in legal tender of the United States of America by the Bidder on demand by the Commission if the Bidder is selected by the Commission as the winning bidder, and the Commission determines, in its sole discretion, that the Bidder is not able or willing to enter into the Agreement and conclude the sale of the Property as contemplated by the Offering Sheet on the terms and conditions set forth in this Guaranty. US.54897021.03