HomeMy WebLinkAbout5A1 Third Amendment to Agreement to Buy and Sell Real Estate (618 W Marion)CITY OF SOUTHBEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: September 26, 2019
FROM: David Relos, Property Development Manager
SUBJECT: Third 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 Third Amendment to Agreement to Buy and Sell Real Estate (Amendment) is to
extend the closing on 618 W. Marion through October 31, with an expected closing date
of October 28.
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.
Staff requests approval of this Amendment, to allow for the eventual acquisition of this
property.
INTERNAL USE ONLY: Project Code„ N A
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 j INNOVATION I INCLUSION: EMPOWERMENT
14005 County -City Building • 227 W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 f574.235.9021 www.southbendin.gov
HIRD AMENDMENT TO AGREEMENT TO BUY AND SELL REAL ESTATE
This Third Amendment to Agreement to Buy and Sell Real Estate (this "Third
Amendment") is made effective as of September 12, 2019 (the "Effective Date"), by and between
James B. Williams. Jr.. and Doris E. Williams (the "Sellers") and the City of South Bend_ Indian -
Department of Redevelopment, acting by and through its governing body, the South Bend
Redevelopment Commission ("Buver") (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 Buv and Sell Rea i
Estate, dated May 9, 2019, and a Second Amendment to Agreement to Buy and Sell Real Estate,
dated June 27- 2019 (collectively. 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.
The Parties wish to amend the Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises and obligations in this Third
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 "one hundred five (105) days" shall
be deleted and replaced with "two hundred thirty-one (23 1) days."
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.]
N WITNESS WHEREOF. the Parties herebv execute this Third Amendment to
Agreement to Buy and Sell Real Estate to be effective on the Effective Date stated above.
WYE-_
South Bend
Redevelopment Commission
Marcia I. Jones, President
ATTEST:
Quentin Phillips, Secretary
SELLERS:
4=ses
44=s
B. Williams. Jr.
Doris E. Williams