Laserfiche WebLink
ADDENDUM TO LEASE BETWEEN <br />THE SOUTH BEND REDEVELOPMENT AUTHORITY, AS LESSOR, <br />AND THE SOUTH BEND REDEVELOPMENT COMMISSION, AS LESSEE <br />(CENTURY CENTER PROJECT) <br />THIS ADDENDUM, made and entered into as of this 12th day of November, <br />2008, by and between the South Bend Redevelopment Authority, a body corporate and politic <br />organized and existing under Indiana Code 36 -7 -14.5 (hereinafter with its successors and assigns <br />referred to as the "Authority "), and the South Bend Redevelopment Commission, the governing <br />body of the City of South Bend Department of Redevelopment and the Redevelopment District <br />of the City of South Bend, Indiana (hereinafter called the "Lessee "), <br />WITNESSETH: <br />In consideration of the mutual covenants herein contained, it is agreed that the <br />Second Addendum to the Lease dated as of November 1, 1993 previously entered into between <br />said parties as of June 1, 2008 (the "Second Addendum to Lease "), shall be amended as follows: <br />1. The following definitions in Section I of the Second Addendum to Lease <br />are amended to read as follows: <br />"2008 Lease Resolution" means Resolution No. 2525 of the <br />Lessee passed on November 7, 2008, establishing funds for the <br />payment of lease rentals. <br />"2008 Trust Agreement" means the Trust Agreement dated <br />as of November 1, 2008, between the Authority and the Trustee, <br />securing the bonds. <br />2. Section 4 of the Second Addendum to Lease is amended to read as <br />follows: <br />Section 4. Rental Payment Dates and Amounts. The first <br />semiannual rental installment in the amount of One Hundred Ninety -eight Five <br />Hundred Thousand and 00 /100 Dollars ($198,500.00) shall be due on the day that <br />the 2008 Project is complete and ready for use or October 15, 2009, whichever is <br />later. If completion is later than October 15, 2009, the first installment shall be in <br />an amount which provides for rental at the rate of $198,500.00 for the semiannual <br />period in which the Project is complete and ready for use, prorated from the date <br />BDDB01 5453648v1 <br />