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South Bend Redevelopment Commission <br />Regular Meeting— November 16, 2001 <br />6. NEW BUSINESS (CONT.) <br />D. Sample -Ewing Development Area <br />(2) Continued... <br />Works properties to South Bend or its <br />designee. <br />The properties would come to the <br />Redevelopment Commission because that's <br />who had sent out the purchase offer. <br />2. In consideration for such, South Bend <br />would assume all property taxes (real <br />and personal) related to the properties <br />which are due and owing St. Joseph <br />County as of the transfer date. <br />3. South Bend would agree not to pursue <br />any property claims, including <br />environmental claims, against Allied; <br />except that South Bend would reserve <br />any and all rights to pursue its filed <br />claims against Allied and to collect on <br />those claims, but only to the extent such <br />claims can be satisfied out of applicable <br />insurance proceeds (either recovered in a <br />bankruptcy settlement or outside the <br />bankruptcy case). (Note all parties <br />reserve their rights as to South Bend's <br />filed claims). This means that we have <br />the right to pursue a claim, and they have <br />the right to object to our claim. <br />4. Allied will provide timely notice to <br />South Bend and its counsel of any and <br />all settlement agreement(s) reached with <br />any and all applicable insurance <br />companies and any motions filed with <br />the bankruptcy court seeking approval of <br />such agreements. <br />10 <br />