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1 <br />REAL ESTATE TRANSFER AGREEMENT <br />This Real Estate Transfer Agreement (“Agreement”) is made effective by and <br />between the St. Joseph County Airport Authority, by and through its governing body, the <br />St. Joseph County Airport Authority Board (the “Airport Authority”), with offices at 4477 <br />Progress Dr, South Bend, IN 46628 and the City of South Bend, Indiana, Department of <br />Redevelopment, by and through its governing body, the South Bend Redevelopment <br />Commission, with an address of 227 W. Jefferson Boulevard, Suite 1400S, South Bend, <br />Indiana 46601 (“Commission”) (each a “Party” and together the “Parties”). <br />RECITALS <br />A.The Commission exists and operates pursuant to the Redevelopment of <br />Cities and Towns Act of 1953, as amended, cited as Indiana Code 36-7-14 (the “Act”). <br />B.The Airport Authority exists and operates pursuant to Indiana Code 8-33- <br />2 regarding Local Airport Authorities. <br />B.The Airport Authority owns certain real property and all improvements <br />thereon located at 4208 Cleveland Road in South Bend, Indiana (the “City”), and more <br />particularly described in attached Exhibit A (the “Airport Authority Property”). <br />C.The Commission owns certain other real property and all improvements <br />thereon consisting of four parcels, namely Parcel Nos. 71-03-33-301-008.000-009, 71-03- <br />33-301-015.000-026, 71-03-33-301-904.000-009, and 71-03-33-326-004.000-026, which <br />bear the addresses of 1743 N Commerce Dr and 1705 Commerce Dr, SOUTH BEND, IN <br />46628 (“Commission’s Property”), in the City and more particularly described in attached <br />Exhibit B (the “Commission Property”). <br />D.The Airport Authority desires to transfer the Airport Authority Property to <br />the Commission in consideration of the Commission’s transfer of the Commission Property <br />to the Airport Authority under this Agreement. <br />E.The Airport Authority Property is situated in the River West Development <br />Area. <br />F. The Commission Property is situated in the River West Development Area. <br />G.The Act allows the Commission to acquire property needed for <br />redevelopment or economic development purposes and further allows the Commission to <br />accept gifts of property needed for the redevelopment of project areas. <br />H.The Act further provides that appraisals are not required when acquiring or <br />disposing of real property with other governmental agencies.