#2890- Deed; QUIT-CLAIM DEED East 25 ft. lot 25, Richland 1st Addition

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PURCHASE AGREEMENT THIS AGREEMENT, entered into this /Yc"' day of 7%'2 200-JY4Y ten► cl between, MARTIN BLAD FARMS. INC.�g8995 MAYFLOWE ROAD, SOUTH Bl✓M?01), INDIANA 46619 hereinafter referred to as the "Buyer," and the Civil City of South Bend, a mwiicipaI corporation of the State of Indiana, hereinafter referred to as the "City." WITNESSETH: WHEREAS, I. C. 36-1-11 establishes the procedures for the sale and rental of real property owned by the City of South Bend; and WHEREAS, theboard of Public Works (hereinafter refen•ed to as the "Board") is empowered to carry out the provisions of said statute; and WHEREAS, the Board has determined that: l . The highest and best use of certain real property owned by the City is by sale to an abutting landowncr, 2. The cost to the public of maintaining said real properties owned by the City equals or exceeds the established fair market value of said real properties; 3. It is economically unjustifiable to sell real property owned by the City in accordance with the procedures set forth in I. C. 36-1-11-4. WHEREAS, the Board has determined that the assessed value of said real property is less than TWO THOUSAND DOLLARS ($2,000.00) ; and WHEREAS, pursuant to I. C. 36-1-11-5, the Board is empowered to negotiate and sell said real property to the abutting landowner who submits the highest offer for said real property; and WHEREAS, the offer of the Buyer in the amount of Four Hundred Fourteen Dollars ($414.25) was offered and accepted as the best offer for said property. NOW, THEREFORE, it is agreed by and between the parties hereto, and for and in consideration of the promises and the mutual covenants herein contained, as follows: 1. The City agrees to sell and Buyer agrees to buy the following property located in St. Joseph County, Indiana: Key No. 18-8.110-4154 East 25 ft. of Lot 25, Richland, IS' Addition for the sum of $414.25. 2. Buyer agrees to pay the purchase price and recording fee in full at the time of closing. 3. Buyer agrees to pay all title and abstract costs involved in said transaction which i Shall desire or request. t 4 The conve ante of the aforementioned real properties is made so long as the lots are not used as a building site for purposed of a new, single-family construction site. 5. At the time to closing and after a submission of a receipt for the total Purchase has been submitted by the Controller to the Board of Public Works, the Board shall Claim deed for each of the properties to be prepared, which deed shallp price attested to by the City Clerk with the Seal of the City affixed, which , cause a r and be signed by the Mayor and St. Joseph County Recorder's Office. Shall then be recorded with the