HomeMy WebLinkAbout5B5 Third Amendment to REPA (CLOSING DATE)1
THIRD AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT
This Third Amendment To Real Estate Purchase Agreement (this “Third Amendment”) is
made effective as of September 13, 2018 (the “Effective Date”), by and between the City of South
Bend, Indiana, Department of Redevelopment, acting by and through its governing body, the South
Bend Redevelopment Commission (“Seller”) and Franklin Street Technology Park LLC, an
Indiana limited liability company with its principal place of business 814 Marietta Street, South
Bend, Indiana 46601 (“Buyer”) (each a “Party” and together the “Parties”).
RECITALS
A. Buyer and Seller entered into that certain Real Estate Purchase Agreement, dated
February 22, 2018 (“the “Purchase Agreement”), as subsequently amended on May 24, 2018 by
that certain First Amendment to Real Estate Purchase Agreement (the “First Amendment”), and
on June 28, 2018 by that certain Second Amendment to Real Estate Purchase Agreement (the
“Second Amendment” and collectively, the “Agreement”), for the purchase and sale of the
Property (as defined in the Purchase Agreement) located in the City of South Bend.
B. Seller requires additional time to accommodate the removal of utility lines from the
Property.
C. The Parties wish to further amend the Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises and obligations in this
Second Amendment and the Agreement, the adequacy of which consideration is hereby
acknowledged, the Parties agree as follows:
1. Section 10.A. of the Agreement shall be deleted in its entirety and replaced with
the following: “Unless this Agreement is earlier terminated, the Closing shall be held at the office
of the Title Company, and the Closing Date shall be a mutually agreeable date not later than Two
Hundred Forty (240) days after the end of the Due Diligence Period.”
2. Unless expressly modified by this Third Amendment, the terms and provisions of
the Agreement remain in full force and effect.
3. Capitalized terms used in this Third Amendment will have the meanings set forth
in the Agreement unless otherwise stated herein.
SIGNATURE PAGE FOLLOWS