Approving the form of and authorizing the execution of an Assignment of Ground Sublease and a revised Lease and Trust Indenture by the City of South Bend

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RESOLUTION NO. -41 a{3- 7 5! A RESOLUTION approving the form of and authorizing the execution of an Assignment of Ground Sublease and a re- vised Lease and Trust Indenture by the City of South Bend, Indiana and approving the form of a Sublease for the purpose of financing facilities for St. Joseph -Brown Building Company and St. Joseph Bank and Trust Company - which transaction was originally approved under Resolution No. 438 -74 by the Common Council of the City of South Bend, Indiana on the 12th day of August, 1974. WHEREAS, the City South Bend, Indiana has approved the acquisition and construction of an economic development project and the leasing of the same to St. Joseph -Brown Building Company and has authorized the issuance and sale of $995,000 principal amount of Economic Development Revenue Bonds, Series 1974 (One Plaza Place Building), for the purpose of paying the cost of acquiring and constructing the economic development project and necessary expenses incidental thereto, and has authorized the execution and delivery of an Indenture securing the bonds and providing for the disbursement of a portion of the proceeds thereof; and prescribing other matters pertaining thereto; and WHEREAS, the City has, in connection with the Project, approved the execution of a lease, dated February 1, 1974, by the City, as Lessor, to St. Joseph -Brown Building Company ( "the Com- pany"), as Lessee, ( "the Lease "); and the Company will enter into a sublease of the Project with St. Joseph Bank and Trust Company which instrument was dated February 1, 1974 ( "the Sublease "), which in- strument was also approved by the City; and WHEREAS, in order that the City may acquire the right, title and interest of the Company in Tract #2 of the Project Site, described in Exhibit A to the Lease, which Tract is owned by Whitcomb and Keller, Inc., an Indiana corporation, which land was leased to St. Joseph Bank and Trust Company, an Indiana banking association,