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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: Redevelopment Commission
From: David Relos, Economic Development Planner Ok-
Subject: Professional Services Agreement — CB Richard Ellis
3rd Amendment of Listing Agreement
Date: August 16, 2012
Attached to this memorandum is the 3rd Amendment of Listing Agreement from
CBRE /Bradley, to extend the listing agreement for the Hotel La Salle and vacant lot at
Colfax & Hill.
This amendment extends the agreement for one year, through August 31, 2013.
In this challenging real estate market, staff believes CBRE is doing a good job marketing
these properties and screening potential interested parties.
Staff requests approval of this 3rd Amendment of Listing Agreement with CBRE, to allow a
one year extension of the listing agreement for these two Commission owned properties.
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Amendment to Listing Agreement
LISTING AGREEMENT AMENDMENT NO. THREE
PROPERTY:
"Colfax & Hill" and "LaSalle Hotel"
LISTING AGREEMENT DATE: September 1, 2009
AMENDMENT EFFECTIVE DATE: August 31, 2012
54-4
Page 1 of 1
This is an amendment to the listing agreement for the sale and/or lease of real estate made and entered into by and between Robert
Bradley Associates, LLC d/b /a CBRE I Bradley ( "Broker ") and The City of South Bend, Department of Redevelopment ( "Seller "),
dated September 1, 2009, and Amended August 31, 2010 and August 29, 2011, for the above referenced property (which Listing
Agreement and all existing amendments, if any, are the "Listing Agreement ").
Broker and Seller have agreed to modify certain terms of the Listing Agreement as provided for herein.
NOW, THEREFORE, in consideration of the responsibilities and mutual covenants in said Listing Agreement and in this Listing
Agreement Amendment, it is mutually covenanted and agreed by and between Broker and Seller the Listing Agreement is amended as
follows:
Paragraph A. Term: The Listing Term shall be extended through August 31, 2013 ;
EXCEPT as specifically amended herein, the Listing Agreement remains in full force and effect. In the event of any inconsistency in
any terms or provision of the Listing Agreement and this Listing Agreement Amendment, the terms and provisions of this Amendment
shall control and govern.
Upon execution by Broker and Seller, this Amendment shall become effective as of the Effective Date stated above.
BROKER:
ROBERT BRADLEY ASSOCIATES, LLC
d/b /a CBRE I BRADLEY, an Indiana
Limited Liability Co
By:
Brad, Waker
Its: CEO/President
Rev. 1/12
SELLER:
The City of South Bend, Department of
Redevelopment
Its: President
Amendment to Listing Agreement
LISTING AGREEMENT AMENDMENT NO. THREE
PROPERTY:
LISTING AGREEMENT DATE:
"Colfax & Hill" and "LaSalle Hotel"
September 1, 2009
AMENDMENT EFFECTIVE DATE: August 31, 2012
Page 1 of 1
L":I;i 4
This is an amendment to the listing agreement for the sale and/or lease of real estate made and entered into by and between Robert
Bradley Associates, LLC d/b /a CBRE I Bradley ( "Broker ") and The City of South Bend, Department of Redevelopment ( "Seller "),
dated September 1, 2009, and Amended August 31, 2010 and August 29, 2011, for the above referenced property (which Listing
Agreement and all existing amendments, if any, are the "Listing Agreement').
Broker and Seller have agreed to modify certain terms of the Listing Agreement as provided for herein.
NOW, THEREFORE, in consideration of the responsibilities and mutual covenants in said Listing Agreement and in this Listing
Agreement Amendment, it is mutually covenanted and agreed by and between Broker and Seller the Listing Agreement is amended as
follows:
Paragraph A. Term: The Listiniz Term shall be extended through August 31 2013 ;
EXCEPT as specifically amended herein, the Listing Agreement remains in full force and effect. In the event of any inconsistency in
any terms or provision of the Listing Agreement and this Listing Agreement Amendment, the terms and provisions of this Amendment
shall control and govern.
Upon execution by Broker and Seller, this Amendment shall become effective as of the Effective Date stated above.
BROKER:
ROBERT BRADLEY ASSOCIATES, LLC
d/b /a CBRE I BRADLEY, an Indiana
Limited Liability C any ----�
By:
Bradley J. To thaker
Its: CEO/President
Rev. 1/12
Uz
SELLER:
The City of South Bend, Department of
Redevelopment
Its: President