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1 <br />REAL ESTATE PURCHASE AGREEMENT <br />This Real Estate Purchase Agreement (“Agreement”) is made by and between <br />Adrian J. Long and Briana C. Long, each an individual, and together holding title to the <br />Property (as later defined) as LONG ADRIAN J & BRIANA C HW (collectively, the <br />“Sellers”) and the City of South Bend, Indiana, Department of Redevelopment, by and <br />through its governing body, the South Bend Redevelopment Commission, with an <br />address of 215 S. Dr. Martin Luther King Jr. Blvd, Suite 500, South Bend, Indiana 46601 <br />(“Buyer”) (each a “Party” and together the “Parties”). <br />RECITALS <br />A.Buyer exists and operates pursuant to the Redevelopment of Cities and <br />Towns Act of 1953, as amended, cited as Indiana Code 36-7-14 (the “Act”). <br />B.In furtherance of its purposes under the Act, Buyer desires to purchase <br />from Sellers certain real property located at 4124 Old Cleveland Rd in South Bend, <br />Indiana (the “City”), and more particularly described in attached Exhibit A (the <br />“Property”). <br />C.The Property is situated in the River West Development Area, is set forth <br />on the acquisition list related thereto pursuant to Buyer’s Resolution No. 1238, and Buyer <br />has obtained two independent appraisals of the Property in accordance with the Act. <br />D.The Parties entered into a certain Option to Purchase Agreement, dated <br />January 23, 2025 (the “Option Agreement”), in which the Sellers agreed to grant the <br />Buyer an exclusive option to purchase the Property. <br />E.The Option Trigger specified in the Option Agreement has not yet <br />occurred, but Sellers have expressed their desire to waive the condition and request to <br />proceed with the sale of the Property now, with the terms otherwise set forth in the <br />Option Agreement and as set forth herein, in accordance with Section 36-7-14-19 of the <br />Act. <br />THEREFORE, in consideration of the mutual covenants and promises in this <br />Agreement and other good and valuable consideration, the receipt of which is hereby <br />acknowledged, Buyer and Sellers agree as follows: <br />1.OFFER AND ACCEPTANCE <br />A copy of this Agreement, signed by Sellers, constitutes Sellers’ offer to sell the Property <br />and once signed by Buyer, constitutes Buyer’s offer to purchase the Property on the terms <br />stated in this Agreement. A copy signed by Buyer shall be delivered to the Sellers as <br />follows: <br />Adrian & Briana Long <br />4124 Old Cleveland Road