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2 <br />South Bend, IN 46628 <br />Sellers shall return a signed copy of this Agreement to the following representative <br />(“Buyer’s Representative”): <br />Executive Director of Community Investment <br />City of South Bend <br />215 S. Dr. Martin Luther King Jr. Blvd. <br />Suite 500 <br />South Bend, Indiana 46601 <br />With a copy to: <br />South Bend Legal Department <br />Attn: Corporation Counsel <br />City of South Bend <br />215 S. Dr. Martin Luther King Jr. Blvd <br />Suite 600 <br />South Bend, Indiana 46601 <br />All the terms and conditions of this Agreement will be effective and binding upon the <br />Parties and their successors and assigns at the time the Agreement is fully signed by <br />Buyer and Sellers (the “Contract Date”). <br />2. PURCHASE PRICE <br />A.Purchase Price. The purchase price for the Property shall be Three <br />Hundred Seventy-Four Thousand Dollars ($374,000.00) (the “Purchase Price”), payable <br />by Buyer to Sellers as described in Section 7 (the “Closing,” the date of which is the <br />“Closing Date”). <br />B.Earnest Money Deposit. Within thirty (30) business days after the <br />Contract Date, Buyer will deliver to Sellers the sum of Five Thousand Dollars <br />($5,000.00), which Sellers will hold as an earnest money deposit (the “Earnest Money <br />Deposit”). Sellers will be responsible for disposing of the Earnest Money Deposit in <br />accordance with the terms of this Agreement. The Earnest Money Deposit shall be <br />credited against the Purchase Price at the Closing or, if no Closing occurs, refunded or <br />forfeited as provided below. <br />3.WAIVER OF OPTION TRIGGER CONDITION <br />The Parties acknowledge that they previously entered into a certain Option to Purchase <br />Agreement dated January 23, 2025 (“Option Agreement”), which conditioned the <br />Buyer’s right to purchase the Property upon the occurrence of a specified trigger event <br />(the “Option Trigger”). Sellers acknowledge that the Option Trigger has not yet