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No. 2168 approving/authorizing execution of an agency agreement by/between the SB development commission and the City of South Bend, IN, board of public works relating to real property and improvements located at 1303, 1315, 1321-1323 S. Michigan St.
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No. 2168 approving/authorizing execution of an agency agreement by/between the SB development commission and the City of South Bend, IN, board of public works relating to real property and improvements located at 1303, 1315, 1321-1323 S. Michigan St.
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10/18/2012 1:40:24 PM
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3/8/2011 11:48:55 AM
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Agreement relating to the Kitty Kat Properties. <br />WHEREAS, the Commission and the Board desire to enter into this Agency <br />Agreement ("Agency Agreement") in order to permit the Commission to execute the Purchase <br />Agreement, a form of which is attached hereto and incorporated herein as Exhibit A, and to <br />acquire the Kitty Kat Properties on behalf of the City in settlement of the Lawsuit with Kitty <br />Kat, Inc., pursuant to the terms and conditions contained herein; and <br />WHEREAS, the Commission desires to act as the agent of the Board for the purposes <br />of taking title to the Kitty Kat Properties in settlement of the Lawsuit with Kitty Kat, Inc. <br />NOW, THEREFORE, in consideration of the mutual covenants and promises herein, <br />and for other good and valuable consideration, the receipt of which is hereby acknowledged, <br />the parties agree as follows: <br />1. The Board hereby empowers and appoints the Commission to act as the Board's <br />agent for the limited purpose of executing the Purchase Agreement with Arthur T. Ford and <br />Linette L. Ford which Purchase Agreement shall provide for the transfer of the Kitty Kat <br />Properties to the Commission and shall further provide for the release, remise, acquittal and <br />dismissal forever of any and all claims by Arthur T. Ford, as principal for and on behalf of <br />JR's Kitty Kat Lounge, Inc., arising out of or resulting from the lawsuit against the City of <br />South Bend filed in St. Joseph Superior Court as Cause No. 71D07-0010-CP-01348 and <br />captioned J R. 's Kitty Kat Lounge, Inc. et al. v. The City ofSouth Bend, an Indiana municipal <br />corporation, et al.. <br />2. The Board hereby empowers and appoints the Commission to act as the Board's <br />0 agent for the limited purpose of closing the real estate transaction among and between Arthur <br />
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