5A4 Purchase Agreement (Scott St. NNN) - Fully Executed

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AUDITOR’S RECORD TRANSFER NO.________ TAXING UNIT _____________ DATE ___________________ KEY NO. See attached Exhibit 1 SPECIAL WARRANTY DEED THIS INDENTURE WITNESSETH, that the City of South Bend, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission, 215 S. Dr. Martin Luther King Jr. Blvd, Suite 500, South Bend, Indiana (the “Grantor”) CONVEYS AND SPECIALLY WARRANTS to Near Northwest Neighborhood, Inc., an Indiana non-profit corporation, with its registered address being 1007 Portage Ave., South Bend, Indiana 46616 (the “Grantee”), for and in consideration of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the following real estate located in St. Joseph County, Indiana (the “Property”): See attached Exhibit 1 The Grantor warrants title to the Property only insofar as it might be affected by any act of the Grantor during its ownership thereof and not otherwise. The Grantor hereby conveys the Property to the Grantee free and clear of all leases or licenses; subject to real property taxes and assessments; subject to all easements, covenants, conditions, restrictions, and other matters of record; subject to rights of way for roads and such matters as would be disclosed by an accurate survey and inspection of the Property; subject to all applicable building codes and zoning ordinances; and subject to all provisions and objectives contained in the Commission’s 2025 River West Development Area Plan, as thereafter amended from time to time, and any design review guidelines associated therewith. Grantor and Grantee covenant and agree that Grantor conveys the Property to Grantee subject to the requirement that Grantee, and its successors and assigns, may use the Property solely for (i) income-based, multi-family housing, and market-rate multifamily housing; and (ii) any other use consented to in writing by Grantor, and Grantee shall not discriminate in the lease, rental, use, occupancy, or enjoyment of the Property or any improvements constructed on the Property. This restriction will at all times be subject to any mortgages recorded against the Property, and any foreclosure or deed in lieu of foreclosure with regard to any such mortgage shall automatically without further action terminate this restriction. Pursuant to Section 9 of the Real Estate Purchase Agreement, the Grantor conveys the Property to the Grantee by this deed subject to certain conditions subsequent. In the event that Grantee fails to perform the Property Improvements, or satisfactorily to prove such performance, then in accordance with Section 10 of the Real Estate Purchase Agreement, the Grantor shall have the right to re-enter and take possession of the Property and to terminate and revest in the Grantor Page 1 of 4