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)

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money shall be imposed against Ground Lessee's ground leasehold interest in and to the Ground Lease Premises or the Improvement, resulting from or arising out of any act or omission of Ground Lessee, or any person claiming under, by or through Ground Lessee, Ground Lessee shall within thirty (30) days after receipt of notice of the imposition of such lien, claim or order cause the same to be discharged, satisfied, cancelled or released, and the Ground Lease Premises and the Improvement to be released therefrom, by the payment of the obligation secured thereby or by the furnishing of a bond or by any other method which may be prescribed or permitted by law. Ground Lessee shall thereupon furnish Ground Lessor with evidence of having done so in form satisfactory and requisite for recording in the Office of the Recorder of St. Joseph County, Indiana. 7.2 Bonding and Litigation. Notwithstanding the foregoing, should Ground Lessee desire to contest the validity of any lien or claim of lien, nothing herein shall preclude Ground Lessee from doing so, providing that Ground Lessee shall have first either (1) posted an appropriate and sufficient bond in favor of claimant and thereby obtained the release of the Ground Lease Premises and the Improvement from such lien. In such event the Ground Lessee shall indemnify and hold the Ground Lessor harmless from and against any and all claims, actions, lawsuits, costs and expenses of any kind or nature arisinor out of such lien or claim of lien. If judgment is obtained by the claimant of any lien, Ground Lessee agrees to pay the same immediately after such judgment shall have become final and the time for appeal therefrom has expired. Ground Lessee shall, at its own expense, defend the interests of Ground Lessee and Ground Lessor in any and all such suits. Ground Lessor may, at its own expense, engage its own counsel and assert its own defenses, in which event Ground Lessee agrees to cooperate with Ground Lessor and make available to Ground Lessor all information and data deemed by Ground Lessor to be necessary or desirable for such defense. Section 8. INSURANCE. 8.1 Statutory Limitation on Ground Lessee's Liability. Ground Lessee is a municipal corporation that is self - insured under provisions of Indiana statutes and local ordinance. Specifically, Ground Lessee is covered by a non - reverting insurance premium and liability reserve fund created by the City of South Bend, Ordinance #6657 -79, pursuant to Indiana Code 34- 13 -3 -4, as amended from time to time. Under said statute, Ground Lessee's liability is limited to: (a) three hundred thousand dollars ($300,000) for a cause of action that accrues before January 1, 2006; (b) five hundred thousand dollars ($500,000) for a cause of action that accrues on or after January 1, 2006, and before January 1, 2008; or (c) seven hundred thousand dollars ($700,000) for a cause of action that accrues on or after January 1, 2008; and (d) for injury to or death of all persons in that occurrence, five million dollars -5-