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No. 2241 approving a development agreement with gameday centers Southeastern, LLC and related matters
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No. 2241 approving a development agreement with gameday centers Southeastern, LLC and related matters
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10/18/2012 1:33:20 PM
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City of South Bend by May 31, 2008. <br />Promptly after completion of the Project, the Grantor will furnish the Grantee with <br />an appropriate instrument so certified. Such certification by the Grantor shall be (and it <br />shall be so provided in the certification itself) a conclusive determination of satisfaction <br />and termination of all covenants, requirements, obligations and the like in the Agreement, <br />and in this Deed, except the covenants of Section VII of the Agreement and Section III <br />herein for the limited time set forth therein. All certifications provided for herein shall be <br />in such form as will enable them to be recorded with the Office of the Recorder of St. <br />Joseph County. <br />SECTION II. In the event the Grantee herein, prior to the recording of the <br />Certificate of Completion hereinabove referred to, shall: <br />(a) default in or violate any obligations with respect to the construction of the <br />improvements provided for in this Deed and the Agreement, or abandon or <br />substantially suspend construction work, and any default, or violation, <br />abandonment, or suspension is not cured, ended, or remedied within three <br />(3) months (six (6) months if the default is with respect to the date for the <br />completion of the improvements) after written demand by the Grantor so to <br />do; or <br />(b) fail to pay real estate taxes or assessments on the Real Estate or any part <br />thereof when due, or shall place thereon any encumbrance or lien not <br />authorized by the Agreement with the Grantor, or shall suffer any levy or <br />attachment to be made, or any materialmen's or mechanic's liens or any <br />other unauthorized encumbrances or lien to attach, and such taxes or <br />assessments are not paid or the encumbrance or lien removed or discharged, <br />or provisions satisfactory to the Grantor made for such payments, removal <br />or discharge, within ninety (90) days after written demand by the Grantor so <br />to do; or <br />(c) in violation of the Agreement or of this Deed, transfer the Real Estate or <br />any part thereof, or if there is any change in the ownership or partnership <br />interests, or to the identity of the parties in control of the Grantee or either <br />of them or the degree thereof, and such violation is not cured within sixty <br />(60) days after written demand by the Grantor; <br />then the Grantor shall have the right to re -enter and take possession of the Real Estate and <br />to terminate and revest in the Grantor the estate conveyed by this Deed to the Grantee, its <br />assigns or successors in interest. Such reversion of title shall, however, be subject to the <br />lien of any outstanding mortgage authorized by the Agreement. <br />2 <br />
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