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Community & Economic Development
1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: South Bend Redevelopment Commission
From: Don Inks �)e�c
Subject: Cressy Listing Contract Amendment for 401 N. Bendix (Bosch Faciltiy)
Date: December 9, 2011
The original Listing Contract only provided for a sale of the property. It has become apparent as we
meet with prospects that we may need to consider lease options. The attached Amendment to Listing
Contract incorporates language to cover this possibility.
Document2 Whet W Do Today Makes A DWrsmos 1
AMENDMENT TO LISTING CONTRACT DATED MARCH 22, 2012
BETWEEN
GRUBB & ELLIS I CRESSY & EVERETT AND CITY OF SOUTH BEND REDEVELOPMENT
FOR PROPERTY AT 401 N. BENDIX DR., SOTUH BEND, IN
This Listing Contract ( "Agreement ") between Grubb & Ellis ICressy & Everett and City of South Bend
Redevelopment dated March 22, 2012 for 401 N. Bendix Dr., South Bend, IN sets forth the following
changes:
3. EXCLUSIVE LISTING: The first two (2) lines of this section are amended to read "In
consideration of the Broker listing for sale or lease and undertaking to find a purchaser or tenant for the
real estate described above, the Owner hereby grants and gives the Broker the exclusive right and
authority to sell, lease or exchange the same....."
4. BROKER'S FEE: The first sentence of this section is amended to read "In the event the
Broker finds a purchaser or tenant ready, willing and able to buy or lease said real estate, or should said
real estate be sold or leased by or through the Broker, the Owner or otherwise, during said time for the
price and upon the terms named herein, or should the entity which currently owns the real estate be
transferred by means of a stock transfer or any other transfer of interest during the term of this
Agreement for any other price or terms, or consideration acceptable to the Owner, the Owner agrees to
pay the Broker as commission a sum equal to the greater of $150,000 or 7% of the sum for which said
property is sold, leased or exchanged if a co- broker is the procuring cause or a commission equal to the
greater of $100,000 or 5% of the sum for which the property is sold, leased or exchanged if the listing
team of Tim Mehall, Ed Bradley and George Cressy is the procuring cause."
All other terms, conditions and provisions of the Agreement shall remain in full force and effect .
OWNER
Grubb & Ellis I Cressy & Everett
By: By:
Its: Its:
Date: Date: