HomeMy WebLinkAbout5A2 Second Amendment to Agreement to Buy and Sell Real Estate (618 W Marion)CITY OF SOUTHBEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: June 27, 2019
FROM: David Relos, Property Development Manager
SUBJECT: Second Amendment to Agreement to Buy and Sell Real Estate (618 W. Marion)
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
This Second Amendment to Agreement to Buy and Sell Real Estate (Amendment) is to
extend by 45 days the closing on 618 W. Marion. This property is in a key redevelopment
target area at Charles Martin Dr. and LWW, and is the last property in this block needing
to be acquired. A First Amendment was approved by the Commission on May 9, 2019,
which extended the closing by 30 days.
Staff requests approval of this Amendment, to allow for the eventual acquisition of this
property.
INTERNAL USE ONLY: Project Code: N/�
Total Amount new/change (inc/dec) in budget: _ Breakdown:
Costs: Demolition Amt: _ Other Prof Sery Amt
Acquisition of Land/Bldg (circle one) Amt- _.; Street Const Amt
Building Imp Amt ; Sewers Amt ; Other (specify) Amt.
Going to BPW for Contracting? N
Is this item ready to encumber now? Existing PO#_ _ Inc/Dec $_
EXCELLENCE; ACCOUNTABILITY, INNOVATION 11 INCLUSION i EMPOWERMENT
14005 County -City Building 227 W. Jefferson Blvd. ; South Bend, Indiana 46601 p574.235.9371 f 574.235.9021 www.southbendin.gov
SECOND AMENDMENT TO AGREEMENT TO BUY AND SELL REAL ESTATE
This Second Amendment to Agreement to Buy and Sell Real Estate (this "Second
Amendment") is made effective as of June 27, 2019 (the "Effective Date"), by and between James
B. Williams, Jr., and Doris E. Williams (the "Sellers") and the City of South Bend, Indiana,
Department of Redevelopment, acting by and through its governing body, the South Bend
Redevelopment Commission ("Buyer") (each a "Party" and together the "Parties").
RECITALS
A. Buyer and Sellers entered into that certain Agreement to Buy and Sell Real Estate,
dated March 14, 2019, as amended by a First Amendment to Agreement to Buy and Sell Real
Estate, dated May 9, 2019 (together, the "Agreement"), for the purchase and sale of the Property
(as defined in the Agreement) located in the City of South Bend.
B. Sellers have requested an additional extension of the Closing date due to unforeseen
circumstances.
C. The Parties wish to amend the Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises and obligations in this First
Amendment and the Agreement, the adequacy of which consideration is hereby acknowledged,
the Parties agree as follows:
1. In Section 7.A. of the Agreement, the phrase "sixty (60) days" shall be deleted and
replaced with "one hundred five (105) days."
2. Unless expressly modified by this Second Amendment, the terms and provisions of
the Agreement remain in full force and effect.
3. Capitalized terms used in this Second Amendment will have the meanings set forth
in the Agreement unless otherwise stated herein.
[Signature page follows.]
IN WITNESS WHEREOF, the Parties hereby execute this Second Amendment to
Agreement to Buy and Sell Real Estate to be effective on the Effective Date stated above.
BUYER:
South Bend
Redevelopment Commission
Marcia I. Jones, President
ATTEST:
Quentin Phillips, Secretary
SELLERS:
James B. Williams, Jr.
Doris E. Williams
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