HomeMy WebLinkAbout6D(1) Agreement Regarding Real Estate for Transpo OperationsC~~ ~ ~ ~~
AGREEMENT REGARDING REAL ESTATE
THIS AGREEMENT is made and entered into by and between CITY OF SOUTH
BEND, by its Redevelopment Commission, the governing body of the City of South Bend
Department of Redevelopment ("City") and SOUTH BEND PUBLIC TRANSPORTATION
CORPORATION, a municipal corporation existing under the laws of the State of Indiana
("Transpo").
WHEREAS, the City and Transpo are parties to a certain Contract for Purchase and Sale
of Real Estate (the "Purchase Agreement") for the sale by the City and purchase by Transpo of
certain property located at 1000 South Franklin Street, South Bend, Indiana 46601 and
commonly known as a portion of the former South Bend Stamping Plant, containing 22 acres
more or less ("Property"); and
WHEREAS, Transpo intends to construct a new Operations/Administration/Maintenance
Facility (the "Facility") on the Property utilizing, in part, federal funds through a grant (the
"Federal Grant") from the Federal Transit Administration ("FTA"); and
WHEREAS, the Purchase Agreement, at paragraph 10, provides, among other things, that
there are no environmental defects on the Property (the "Environmental Representation")• and
WHEREAS, Transpo closed on the purchase of the Property from the City in reliance
upon the Environmental Representation; and
WHEREAS, the FTA has requested of Transpo, as a condition precedent to the approval
of the Federal Grant, that the City execute this Agreement in which it agrees to indemnify
Transpo for the cost of any environmental remediation required on the Property.
NOW, THEREFORE, for and in good consideration of the sum of Ten Dollars ($10.00)
and other good and valuable consideration, the receipt and legal sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
1. Environmental Indemnification. The City agrees to indemnify and hold harmless
Transpo against and in respect of, any and all damages, claims, losses, liabilities and expenses
which may be imposed upon, incurred by or asserted against Transpo arising out of, in
connection with or relating to any environmental defect in contravention of the Environmental
Representation.
2. Multiple Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be considered an original with counterparts signed by one
party when combined with counterparts signed by other parties to this Agreement constituting
an original contract.
STAMPING PLANT
IN WITNESS WHEREOF, the undersigned executed and delivered this Agreement
Regarding Real Estate on the date set forth below the name of each.
"TRANSPO"
SOUTH BEND PUBLIC TRANSPORTATION CORPORATION
By:
Its:
Dated:
"CITY"
CITY OF SOUTH BEND, by its Redevelopment Commission
By:
Its:
Dated:
ATTEST:
By:
Its:
Dated:
SBU502 MDH i93~iivl
STAMPING PLANT
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