The matter of First Bank and Trust Company

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r the City of South Bend to be signed by its Mayor and by its city clerk and further desires to enter into a lease not to exceed 22 years duration to be known as a net net net lease sufficient to pay the principal and interest of these bonds and obtain title at the end of the lease, and WHEREAS , the exact amount of industrial revenue bonds is to be determined by the cost of the project. The cost of the project is to include the existing mortgage on the JMS Building, additional remodeling to the existing JMS Building, purchase of real estate adjacent to the JMS Building and erection of a new building on said adjacent land, and WHEREAS , by virtue of the net net net lease , the First Bank and Trust Company of South Bend as Trustee for Land Trust #29-5121 indicates its intention to pay all expenses of the operation, maintenance, insurance, property taxes , whatever of the facility, THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana that the resolution and findings of the Economic Development Commission pertaining to this project be approved and incorporated in this resolution, and THEREFORE , be it resolved by the Common Council of the City of South Bend, Indiana that the statement of public service on the part of the Economic Development commission, of the Area Plan Commission and of the South Bend School Corporation be accepted and approved, and THEREFORE, be it resolved that the South Bend City Common Council authorize the Economic Development Commission of the City of South Bend to proceed to make preliminary agreements with the proposed lessee, the First Bank and Trust Company of South Bend as Trustee for Land Trust #29-5121 , in the nature of a conditional commitment to enter into a lease with the First Bank and Trust Company of South Bend as Trustee for Land Trust #29-5121 , and THEREFORE, be it resolved that the Economic Development Commission of the City of South Bend shall, as soon as the new lease form is property prepared, submit the same to the Clerk of the City of South Bend to be prepared by a member of the Common Council as a proposed ordinance for the acceptance of same and issuance of revenue bonds to cover the amount of money needed. Peter J. Nemet , Presi(feht South Bend Cit Common Council FILED to CLEWS OMCH Irene Gammon CITY CLERK.SDOTN"a,IND. ist E zrW RMIN 9 s- CoMmEE OF THE 31d REANN "SEP 2 0 1972 xaT AMON REFS M PASSM q a 5--7