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,)(1r) CONTRACT FOR PURCHASE AND SALE This CONTRACT OF PURCHASE AND SALE (hereinafter "Agreement "), dated this atok"- day of , 2011, between DATA REALTY NORTHERN INDIANA, LLC (the "Company ") qd the SOUTH BEND REDEVELOPMENT COMMISSION (the "Commission "), the governing body of the Department of Redevelopment of the City of South Bend, Indiana, existing and operating under the provisions of Indiana Code § 36 -7 -14, as amended; WITNESSETH: 1. The Property. The Commission is the owner of record of land in the Ignition Park Planned Unit Development ( "IPPUD ") with the legal description as follows: See Exhibit "A" Consisting of more or less 5.0 acres (the "Property ") The Property is further depicted on the Minor Subdivision attached as Exhibit "B ". The Commission has completed the disposition process under Indiana Code § 36 -7 -14- 22 and desires to sell the Property to the Company under the terms and conditions set forth herein pursuant to Indiana Code § 36- 7- 14- 22(h). 2. The Purchase Price. The Commission shall convey the Property to the Company in exchange for cash in the amount of One Hundred Thirty -one Thousand Two Hundred Fifty and 00 /100 Dollars ($131,250.00), and the conditions contained in paragraph 6 of the Agreement (the "Purchase Price "). 3. Conveyance of Property. The Commission hereby represents it is not aware of any easements or encumbrances other than those of record. At Closing, the Commission shall convey the Property to the Company by Limited Warranty Deed in the form set forth at Exhibit "C" subject to the following: (a) Applicable zoning laws and regulations; (b) Seller will convey title to the Property subject only to real property taxes not yet due and payable, all easements, conditions, reservations, leases, licenses, access agreements and restrictions as may appear of record, be apparent by an inspection of the Property, or of which the Company has actual or constructive knowledge and to such other exceptions as may be approved as provided below. Following the execution of this Agreement, Company shall obtain, at Commission's expense, (i) not later than thirty (30) days after the date of