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RESOLUTION NO. 1586 <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION APPROVING OF THE TRANSFER OF TITLE TO <br />CERTAIN REAL PROPERTY OWNED BY THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY TO THE COMMISSION, <br />AUTHORIZING THE SUBSEQUENT TRANSFER OF SAID REAL <br />PROPERTY AND CERTAIN ACTIONS RELATED THERETO <br />WHEREAS, the South Bend Redevelopment Commission (the "Commission ") <br />previously entered into a lease between the South Bend Redevelopment Authority (the "Authority ") <br />(the "Authority ") dated as of November 1, 1989, as subsequently amended (the "Lease "), pursuant <br />to which the Authority leases certain land and public improvements (the "Project ") to the <br />Commission; and <br />WHEREAS, the Commission has requested and the Authority has previously <br />approved of the transfer of title to certain real property which constitutes a portion of the Project to <br />the Commission, which real property is described at Exhibit A attached hereto and incorporated <br />herein (the "Real Property"), for the purpose of permitting the Commission to authorize and approve <br />of the transfer of title to the Real Property to South Bend Leased Housing Associates Limited <br />Partnership ( "Housing Associates "), as successor in interest to Monroe Park Associates, as a result <br />of Housing Associates exercising its option to purchase the Real Property pursuant to a sublease <br />Ark dated as of September 1, 1992, between the Commission and Housing Associates, as successor in <br />interest to Monroe Park Associates (the "Sublease "); and <br />WHEREAS, to complete such transactions, the Commission now desires to authorize <br />the execution of (i) an addendum to lease between the Authority and the Commission and (ii) in <br />ce consideration of the purchase price set forth in the Sublease (the "Option Price ") and certain other <br />