No. 2525 approving execution of an addendum to the second addendum to lease between the SBRA and South Bend Centruy Center Project and establishing certain funds and accts relating to the pmt of the rentals therefor

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• RESOLUTION NO. 2525 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING OF THE EXECUTION OF AN ADDENDUM TO THE SECOND ADDENDUM TO LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION FOR THE CENTURY CENTER PROJECT AND ESTABLISHING CERTAIN FUNDS AND ACCOUNTS RELATING TO THE PAYMENT OF THE RENTALS THEREFOR WHEREAS, the South Bend Redevelopment Authority (the "Authority ") has been created pursuant to Indiana Code 36 -7 -14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South Bend, Indiana, to finance local public improvements for lease to the South Bend Redevelopment Commission (the "Commission "); and WHEREAS, the Authority intends to issue its lease rental revenue bonds in an aggregate principal amount of Four Million Six Hundred Fifty -five Thousand and 00 /100 Dollars (4,655,000.00) pursuant to Indiana Code 36 -7- 14.5 -19 and a Trust Agreement (the "Trust Agreement ") between the Authority and U.S. Bank National Association, as trustee (the "Trustee "), the proceeds of which are to be used to finance (i) the following improvements to the Century Center: the addition of skylight safety film, the replacement of boilers and chillers, repairs on Island Park, the replacement of the fire alarm and security systems, the renovation of seven (7) restrooms, the renovation of C Hall, the replacement of the roofs, site lighting additions, exterior masonry work, and additional enhancements to the building, grounds and streetscape including, but not limited to, street level and river level interior and exterior signage, enhancement to the upper level offices, and enhancement to the front of building and viewing park and related improvements, and (ii) the acquisition of an interest in certain improvements previously financed with the issuance of the St. Joseph County, Indiana, Special Tax Bonds of 1992, which were refunded with the issuance of the St. Joseph County, Indiana, Special Tax Bonds of 1998 (collectively, the "Project "); and WHEREAS, the Authority previously entered into a Second Addendum to the Lease dated as of November 1, 1993 between the Authority and the Commission dated as of June 1, 2008 (the "Second Addendum to Lease "), whereby the Authority will lease to the Commission, as lessee (the "Lessee "), the Project; and WHEREAS, the St. Joseph County Hotel -Motel Tax Board of Managers (the "Board of Mangers ") adopted a resolution on June 4, 2008, pledging a portion of the Hotel -Motel • Tax Revenues (the "Hotel Motel Tax Revenues ") distributed to the Board of Managers annually BDDB01 5453611 v 1