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Post - Closing Undertaking
This Post - Closing Undertaking is made on January 8, 2014 (the "Closing Date "), by
the SOUTH BEND REDEVELOPMENT COMMISSION (the "Commission "), to and in
favor of CURTIS PRODUCTS, INC., an Indiana corporation ( "Purchaser ").
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WHEREAS, the Commission and Purchaser, entered into that certain Contract for
Purchase and Sale, dated as of December 12, 2013 (the "Purchase Agreement "), with respect to
improved land commonly known as 401 North Bendix Drive, South Bend, Indiana 46628 (the
"Property");
WHEREAS, in connection with the sale and purchase of the Property, the Commission
has provided to Purchaser an ALTA survey of the Property, which indicates that an alley remains
un- vacated, beginning at the eastern boundary of the Property, south of Linden Avenue (the
"Alley ") and that the Property is on both the north and south side of the entire Alley;
WHEREAS, Purchaser wishes to vacate the alley, but is willing to conclude the purchase
of the Property without taking action to do so in reliance upon the Commission's undertaking
and
IN CONSIDERATION OF the Commission's receipt of the Purchase Price (as set forth
in the Purchase Agreement) and other good and valuable consideration in hand paid by Purchaser
to the Commission, the receipt and sufficiency of which are hereby acknowledged and confessed
by the Commission, the Commission does hereby agree for the benefit of Purchaser as follows:
AGREEMENTS
1. Recitals. The foregoing recitals are true, correct and by this reference
incorporated herein.
2. Definitions. Unless otherwise defined herein, all capitalized terms have the
meanings ascribed to such terms in the Purchase Agreement.
3. Cooperation. The Commission does agree to cooperate with Purchaser as
Purchaser may reasonably request in filing purchaser's application with the City of South Bend
(and other appropriate agencies) to vacate the Alley and have the Alley become part of the
Property.
4. Binding Effect. This undertaking shall be binding upon and inure to the benefit of
Purchaser, the Commission and their respective successors and assigns.
5. Governing Law. This undertaking shall be subject to and governed by the laws of
the State of Indiana.
6. Counterparts; Electronic Signatures. A party hereto may deliver executed
signature pages to this undertaking by facsimile or other electronic transmission to the other
party hereto, which facsimile or other electronic copy shall be deemed to be an original executed
signature page. This undertaking may be executed in any number of counterparts, each of which
shall be deemed an original and all of which counterparts together shall constitute one agreement
with the same effect as if the parties hereto had signed the same signature page.
IN WITNESS WHEREOF, The Commission and Purchaser have caused this
undertaking to be executed effective as of the date first above written.
THE COMMISSION:
SOUTH BEND REDEVELOPMENT
COMMISSION
ATTEST:
AJIA By:
David A. Varner, Vice President David P. Relos, At Representative
SBDS02 447084v1
PURCHASER:
CURTIS PRODUCTS, INC.
By:
David Heckaman, President
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