HomeMy WebLinkAbout5B2 Memorandum of Option (Claey's and Machalleck)
MEMORANDUM OF OPTION AGREEMENT
This Memorandum of Option Agreement (this “Memorandum”) is entered into as
of the 14 day of April, 2022 (the “Effective Date”), by and between South Bend
Redevelopment Commission, governing body of the Department of Redevelopment of the
City of South Bend, Indiana (the “Commission”), and Gregg Claeys (“Claeys”) and
Michael D. Machalleck (“Machalleck”), each an individual (together, Claeys and
Machalleck are referred to as the "Developer") (the Commission and the Developer are
each sometimes referred to herein as a "Party" or collectively as the "Parties").
WITNESSETH
WHEREAS, the Developer is the owner of that certain real estate situated in the
City of South Bend, County of St. Joseph and State of Indiana, comprising 5 parcels and
described on Exhibits A and B, attached hereto and made a part hereof as if fully rewritten
herein (the “Real Estate”); and
WHEREAS, as of the date hereof, the Commission and the Developer entered into
an Option Agreement (the “Agreement”) whereby the Developer granted the Commission
an exclusive option (the “Option”) to purchase the Real Estate (the “Option Property”)
upon terms and conditions more particularly set forth in the Agreement; and
WHEREAS, the parties are desirous of placing their interests therein as a matter of
record.
NOW, THEREFORE, in consideration of the mutual covenants herein contained
and the parties intending to be legally bound thereby, the parties hereto hereby agree as
follows:
1. The term of the Option commenced upon the Effective Date and shall
continue until 11:59 p.m. on the second (2nd) anniversary thereof, unless earlier terminated
pursuant to terms set forth in the Agreement.
2. This Memorandum may be executed in any number of counterparts, each of
which counterpart, when so executed and delivered, shall be an original, but all such
counterparts when taken together shall constitute but one and the same Memorandum.
3. The recitals set forth above are true and correct and are hereby incorporated
herein by reference.
IN WITNESS WHEREOF, the parties have executed this Memorandum as of the
day and year first above written.
SOUTH BEND REDEVELOPMENT
COMMISSION
By:
Marcia I. Jones, President
ATTEST:
By:
Troy Warner, Secretary
STATE OF INDIANA )
) SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for said State, personally
appeared Marcia I. Jones and Troy Warner, known by me to be President and Secretary,
respectively, of the Commission in the foregoing Memorandum, and who, in such capacity,
acknowledged the execution of the same, being authorized so to do.
WITNESS my hand and Notarial Seal this day of _______________,
2022.
____________________________________
____________________, Notary Public
Residing in County, IN
My Commission Expires: _______________________
GREGG CLAEYS
STATE OF INDIANA )
) SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for said State, personally
appeared Gregg Claeys, being an individual set forth as the Developer in the above
Memorandum of Option and acknowledged the execution of the same as his free and
voluntary act and deed.
WITNESS my hand and Notarial Seal this day of _______________,
2015.
____________________________________
____________________, Notary Public
Residing in County, IN
My Commission Expires: _______________________
MICHAEL D. MACHALLECK
STATE OF INDIANA )
) SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for said State, personally
appeared Michael D. Machalleck, being an individual set forth as the Developer in the
above Memorandum of Option and acknowledged the execution of the same as his free
and voluntary act and deed.
WITNESS my hand and Notarial Seal this day of _______________,
2015.
____________________________________
____________________, Notary Public
Residing in County, IN
My Commission Expires: _______________________
This instrument was prepared by Sandra L. Kennedy, Corporation Counsel, City of South Bend, Indiana, 227
W. Jefferson Boulevard, 1200S, South Bend, Indiana 46601.
I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security
number in this document, unless required by law. Sandra L. Kennedy
EXHIBIT A
Parcel 1:
Lots 1 & 2 and the Vacated Alley N and Adjacent in Touhey & Hagery’s Subdivision of
Lot 59 Bol.
Parcel No. 018-3043-1650
Parcel 2:
Lots 3 & 4 in Touhey & Hagery’s Subdivision of Lot 59 Bol.
Parcel No. 018-3043-1653
Commonly known as 525 S Taylor St., South Bend, Indiana
EXHIBIT B
Parcel 1:
Property Address: 522 S Taylor St
South Bend, IN
Legal Description: 31’S End Lot 14 Vails Sub Blk 10
Tax Key Number: 018-3014-0512
State Parcel ID: 71-08-11-427-032.000-026
Parcel 2:
Property Address: Vacant Lot on Taylor St and South St
South Bend, IN
Legal Description: Lot 15 & 16 Ex 34 Ft E End Vails Sub Blk 10
Tax Key Number: 018-3014-0513
State Parcel ID: 71-08-11-427-011.000-026
Parcel 3:
Property Address: Vacant Lot on South St
South Bend, IN
Legal Description: 34 Ft. E End of Lots 15 & 16 Vails Sub Blk 10
Tax Key Number: 018-3014-0514
State Parcel ID: 71-08-11-427-012.000-026