Purchase Agreement - Jorge Marin 918 21st Street

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PURCHASE AGREEMENT THIS AGREEMENT, entered into this )rday of Q,Y ekl , 2017, by and between, Jorge H. Marin, 918 21" St., South Bend, Indiana 46615, hereinafter referred to as the "Seller," and the City of South Bend, acting by and through its Board of Public Works ("Board"), a municipal corporation of the State of Indiana, hereinafter referred to as the "City." WITNESSETH: WHEREAS, IC 32-24-1 establishes the procedures for the acquisition of property to be condemned by the City; and WHEREAS, the Board is empowered to carry out the provisions of said statute; and WHEREAS, the City has determined that the acquisition of 918 2I't St. ("Property") is in the best interest of the City and its future public safety needs; and WHEREAS, consistent with the statutory requirements of IC 32-24-1, the Board conducted two (2) appraisals of the Property and submitted an offer equal to the average of those appraisals in the amount of Fifty Three Thousand Five Hundred Dollars and 00/100 ($53,500); and WHEREAS, the Seller accepts the City's offer; and NOW, THEREFORE, it is agreed by and between the parties hereto, and for and in consideration of the promises and the mutual covenants herein contained, as follows: The City agrees to buy the Property located in St. Joseph County, Indiana: Key No.: 018-6027-0748 for the sum of $53,500, 2. The City agrees to pay the purchase price and all closing and title commitment costs to Seller at the time of closing. Seller may remain in possession of the Property until September 15, 2017. 3. Seller agrees to remove any and all liens which may exist on the Property at or prior to closing, including prorated real estate taxes. 4. Seller, upon the approval of the City, may remove personal property affixed to the Property prior to closing. 5. Seller agrees to leave the Property in "as in" condition, with the exception of the pre - approved removal of personal property, and maintain sufficient property and liability insurance, until the date of possession.