No. 1650 approving the execution of an addendum to the lease dated 11/16/98 between SBRC and the SBRA for the Blackthorn Golf Course Project

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N to which the Authority leases to the Commission the local public improvement known as the Blackthorn Golf Course Project (the "Project "); and WHEREAS, the Commission desires to approve and execute an addendum to the Lease (the "Addendum "), a copy of which is attached hereto as Exhibit A and incorporated herein, to reflect lower rental payments under the Lease. NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment Commission as follows: Section 1. The Addendum attached hereto as Exhibit A is hereby approved and the President or Vice President and Secretary of the Commission are hereby authorized to execute said Addendum in substantially the form presented at this meeting with such changes in form or substance as the President or Secretary of this Commission shall approve, such approval to be conclusively evidenced by the execution thereof. The Addendum shall be effective and the Lease shall be amended as of the date (the "Deposit Date ") when the Authority deposits or causes to be deposited proceeds derived from the sale of the Bonds into an escrow fund to be established by that certain Irrevocable Escrow Deposit Agreement between the Authority and Norwest Bank Indiana, N.A., dated as of November 1, 1998, to reduce the annual rental payments payable in semi - annual installments. The Deposit Date shall be recorded as an endorsement to the Addendum. Section 2. This Resolution shall be in full force and effect after its adoption by the Commission. ::ODMA\PCDOCS \SBDOCS 1\26618\ 1 -2-