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• <br />• <br />WHEREAS, the Commission has completed its acquisition procedures for the <br />Property and sufficient funds are available for the purchase of the Property; <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission that: <br />1. The Commission hereby finds that the consideration, although above the <br />appraisal value, is reasonable considering the circumstances and the evidence provided <br />by the Owners and that it is in the best interest of the citizens of the City and the South <br />Bend Redevelopment District and consistent with the purposes and requirements set forth <br />in Indiana Code ~ 36-7-14 to accept the Purchase Price set forth in the counteroffer. <br />2. The Commission hereby approves and accepts the form of Purchase <br />Agreement and authorizes the President and the Secretary to execute and attest, <br />respectively, the Purchase Agreement with such changes in form or in substance as they <br />deem to be necessary or appropriate to complete the transfer, with such approval to be <br />conclusively evidenced by as such execution and attestation, respectively. The President <br />and/or Secretary are each authorized to execute and deliver any other documentation <br />necessary to complete the acquisition of the Property. Legal counsel for the Commission <br />is further authorized to close the transaction on behalf of the Commission and execute <br />any incidental closing documents necessary to complete the transaction. If desirable to <br />facilitate the closing on this property, staff is further authorized to engage Meridian Title <br />Company to assist with the closing of this transaction. <br />3. The Secretary of the Commission is instnicted to place a copy of the <br />Counteroffer and the form of Purchase Agreement presented to the Commission with this <br />Resolution in the records and minutes of this meeting. <br />ADOPTED at the Regular Meeting of the South Bend Redevelopment <br />Commission held on November 2, 2007, at Madison Center Meeting Room West, 403 <br />East Madison Street, South Bend, Indiana 46617. <br />CITY OF SOUTH BEND, <br />,- DEPARTMENT EVELOPMENT <br />9 ~~. ~'.' <br />s;gnatt„-e <br />. -' <br />Marcia I. Jones, President <br />Printed Nnme and Title <br />ATTEST: <br />~ ~ <br />sign ,- ~ <br />K 1 G. King, V'ce-Pr sident <br />Printed 'mne and Tilie <br />South Bend Redevelopment Commission <br />South Bend Redevelopment Commission <br />