MOU - Redevelopment Commission - Leighton Complex's 1998 Ground Lease for Leighton Parking Garage

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Cross -Reference: Document No. 9804643 MEMORANDUM OF ASSIGNMENT AND ASSUMPTION OF GROUND LEASE This Memorandum Of Assignment And Assumption Of Ground Lease (this "Memorandum") is made as of August 10, 2017 (the "Effective Date"), by and between the South Bend Redevelopment Commission (the "Commission"), and the City of South Bend Board of Public Works (the "Board") (each a "Party" and together the "Parties"). RECITALS WHEREAS, pursuant to the Commission's Resolution No. 3361 dated September 15, 2016, and the Board's Resolution No. 44-2016 dated September 27, 2016, the Commission and the Board entered into that certain Assignment And Assumption Of Garage -Related Agreements dated September 27, 2016 (the "Assignment"); and WHEREAS, by the Assignment, the Commission assigned to the Board all of the Commission's rights, interests, and obligations in, to, and under that certain Ground Lease dated January 23, 1998, and recorded on February 3, 1998, as Document No. 9804643 in the Office of the Recorder of St. Joseph County (the "Ground Lease"); and WHEREAS, the Parties desire to place as a matter of public record their respective interests as the assignor and the assignee, respectively, of the Ground Lease. NOW, THEREFORE, the Parties state as follows: 1. Effective on September 27, 2016, the Commission assigned the Ground Lease to the Board, and the Board assumed all rights, interests, and obligations of the Commission under the terms and provisions of the Ground Lease. 2. No third party's consent was required to effect the Parties' assignment and assumption of the Ground Lease under the Assignment. 3. The recitals set forth above are true and correct and are hereby incorporated herein by reference. 4. This Memorandum will be governed by and construed in accordance with the laws of the State of Indiana. [Signature pages follow.]