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released of and from all such obligations hereunder. Buyer may also designate a nominee to take title to the Real Estate at Closing. 27. Notice of Waiver of Eminent Domain Power. Buyer, having the power of eminent domain, agrees to not exercise a right of eminent domain to acquire the Real Estate. 28. Governing Law. This Agreement shall be interpreted and enforced according to the laws of the State of Indiana. 29. Memorandum of Option. At the request of Buyer, Seller shall execute and deliver to Buyer a memorandum of this Agreement in recordable form which may be recorded at the expense of Buyer to provide third parties record notice of the existence of this Agreement and the rights of Buyer hereunder. 30. Corporate Authority. The undersigned persons executing and delivering this Agreement on behalf of the Seller represent and certify that they are the duly elected officers or authorized signers for Seller and have been fully empowered, by proper resolution of Redevelopment Commission to execute and deliver this Agreement. 31. Board Approval. This option is subject to the approval of Buyer's Library Board of Trustees, which Buyer shall seek to obtain at the next scheduled Board meeting, on October 30, 2013, and the City of South Bend Redevelopment Commission, which shall be sought at its regularly scheduled meeting on November 14, 2013. 32. Time of the Essence. Time is of the essence for the performance of each and every covenant contained herein. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written. SELLER: CITY OF SOUTH BEND REDEVELOPMENT COMMISSION Its: President, Marcia 1. Jones Attest: Secretary, Valerie Schey 10 BUYER: ST. JOSEPH COUNTY PUBLIC LIBRARY By' —k- k Its: Library Direc