No. 2065 approving acquisition of real property to facilitate the studebaker national museum relocation project and approving the execution of a ground lease and other related documents associated with studebaker museum relocation project (SBCDA)

Home Browse Search

C4 Lessor and Ground Lessee hereby agree as follows: Section 1. GROUND LEASE PREMISES. Pursuant to the terms hereof, Ground Lessor hereby subleases, grants, demises and transfers over to Ground Lessee the Ground Lease Premises. Section 2. GROUND LESSOR WARRANTIES. Ground Lessor hereby warrants that: (1) Ground Lessor is the lawful holder of fee simple title to the Ground Lease Premises; (ii) Ground Lessor has the full and absolute right to sublease the Ground Lease Premises to the Ground Lessee pursuant to the terms hereof; and (iii) Ground Lessor is a not - for - profit corporation, organized and validly existing under the laws of the State of Indiana. This Ground Lease and all agreements, instruments and documents herein provided to be executed by Ground Lessor have been duly authorized by necessary or appropriate corporate action taken. Section 3. TERM. The term of this Ground Lease shall be for twenty (20) years ( "Term ") commencing on July 1, 2004, (`Commencement Date ") and shall end twenty (20) years after SNM begins use of any of the Shared Use Facilities as that term is defined and used in the Agreement between Northern Indiana Historical Society, Inc., St. Joseph County, Studebaker National Museum, Inc., and the City of South Bend, Inc., dated the 2 "d day of February, 2004, as may be amended, modified or replaced from time to time ( "Shared Use Agreement "), or such earlier date of termination as and if provided for herein or as shall be agreed to in writing by the Ground Lessor and the Ground Lessee, provided that the Term shall automatically terminate without prior notice with the end of the term or termination of Ground Lessee's rights to use the "Shared Use Facilities ". Ground Lessor and Ground Lessee agree to confirm the actual scheduled termination date, based upon the commencement of use as provided for herein, by written certificate in the form attached hereto as Exhibit E ( "Termination Date "). As used herein, the expression "term hereof" or any similar expression refers to the Term. Section 4. USE OF GROUND LEASE PREMISES. 4.1 Compliance with Rules and Regulations. Neither Ground Lessor nor Ground Lessee shall use or permit the Ground Lease Premises to be used contrary to any terms of the Ground Lease or the Shared Use Agreement or in violation of any valid present or future laws. ordinances, rules or regulations of any public governmental authority at any time applicable thereto relating to sanitation or the public health, safety or welfare. 4.2 Use. Ground Lessor has entered into an agreement with Studebaker National Museum, Inc., ( "SNM ") to occupy and operate the Studebaker Museum and to allow SNM to have the use and benefits of the Improvement. Unless otherwise mutually agreed by the parties