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South Bend Redevelopment Commission <br />Regular Meeting —July 12, 2011 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />(4) Construction, Easement, Restriction and <br />Operating Agreement (South Bend <br />Marriott) Estoppel and Release (Walkway <br />Agreement). <br />The second agreement has to do with the <br />walkway from the hotel over to the Century <br />Center. The situation is similar where the <br />two entities maintain their own buildings. <br />Century Center maintains the walkway and <br />gets reimbursed by the hotel. <br />Based upon extensive investigation, there <br />aren't any issues with regard to repairs. The <br />city is not assuming any responsibilities. <br />There aren't any issues other than what's <br />being disclosed in the estoppel agreements. <br />There is a time crunch. The closing should <br />take place before the end of July and these <br />documents will help facilitate that closing. <br />Mr. Inks questioned releasing information to <br />which Mr. Nussbaum responded that the <br />MOU contemplated that so long as the new <br />buyer (Jenna Hotel Investments) agreed to <br />assume all of the responsibilities of the <br />MOU, Host Hotels would then be released <br />from that responsibility. After evaluating <br />Jenna, its finances and projects around the <br />country, he believes this is a better situation <br />for the city. <br />Ms. King asked if signing this agreement in <br />any way precludes Jenna's responsibility <br />going forward. Mr. Nussbaum's response <br />was no. <br />Mr. Downes asked if a representative from <br />18 <br />