Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting —July 12, 2011 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />(3) Operation, Maintenance and Easement <br />Agreement (South Bend Marriott) <br />Estoppel and Release (Atrium). <br />The Redevelopment Commission is being <br />asked to certify it has reviewed the two <br />Estoppel and Release Agreements and to the <br />best of its knowledge, the statements <br />contained therein are true, correct and <br />complete in all material respects. The <br />Commission is also being asked to release <br />Host from its obligations upon closing of the <br />sale of the Hotel and the ground lessee's <br />interest in the land underlying the Hotel by <br />Buyer, and upon Buyer's assumption in <br />writing of all of Host's rights, duties, and <br />obligations related to the Walkway <br />Agreement. <br />The Estoppels essentially indicate that Host <br />and FBCLP (First Bank Center Limited <br />Partnership) are in compliance with the <br />Walkway Agreement (Construction, <br />Easement, Restriction and Operating <br />Agreement), the Common Facilities <br />Management Agreement and the Operation, <br />Maintenance and Easement Agreement, <br />except for "Common Facilities Items Not in <br />Good Condition or Repair" which is attached <br />to the Estoppels as an Exhibit. The Estopples <br />also indicate there is no default in any of <br />these Agreements and no amendments other <br />than identified. <br />In order to make a recommendation to the <br />Redevelopment Commission regarding these <br />Estoppel's, staff has had the City Attorney's <br />office review the estoppels and attached <br />15 <br />