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the Act, has determined to construct the Project within the <br />limits of the City of South Bend, Indiana. <br />It is now deemed advisable to authorize the execution <br />and delivery by the City of a Memorandum of Intent expressing <br />formally and in writing the understanding heretofore formally <br />agreed upon by the City and Claeys Realty, an Indiana partner- <br />ship, the Borrower. <br />NOW, THEREFORE, be it resolved by the Common Council <br />of the City of South Bend, Indiana, as follows: <br />SECTION 1. The Mayor is hereby authorized and directed <br />to execute a Memorandum of Intent by and between the City and <br />Claeys Realty, an Indiana partnership, the Borrower, and the <br />City Clerk is hereby authorized and directed to affix the seal <br />of the City thereto and to attest the same; and said Mayor and <br />City Clerk are hereby authorized and directed to cause said <br />Memorandum of Intent to be delivered to, accepted, and executed <br />by Claeys Realty, an Indiana partnership, said Memorandum of <br />Intent, which is hereby approved and incorporated by reference <br />and made a part of this authorizing resolution, to be in sub- <br />stantially the form attached hereto. <br />SECTION 2. All resolutions and orders, or parts there- <br />of, in conflict with the provisions of this resolution are, to <br />the extent of such conflicts, hereby repealed and this resolu- <br />tion shall be in immediate effect from and after its adoption. <br />This Inducement Resolution shall be in full force and <br />effect from and after its adoption by the Common Council and <br />approval by the Mayor. <br />PRESENTED 9-/-57_ &/ <br />NOT APPROVED Irene Gcmmion <br />ADOPTED P_ / CITY CLERK, SOU-ill. orND, IND. <br />414* A�L - <br />Member of the Common Council <br />-2- <br />