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No. 1146 approving and accepting the transfer of real property from the St. Joseph County Airport Authority
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No. 1146 approving and accepting the transfer of real property from the St. Joseph County Airport Authority
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10/18/2012 2:52:08 PM
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10/21/2011 1:49:06 PM
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0 0 <br />(1) "Redevelopment" shall mean the South Bend Redevelopment <br />Commission, governing body of the City of South Bend, Department of <br />Redevelopment, established under and operating pursuant to I.C. <br />36 -7 -14, and having its offices at 1200 County -City Building, South <br />Bend, Indiana 46601. <br />(m) "Redevelopment Closing" shall mean the consummation of <br />the purchase and sale of the Airport Land in accordance with the <br />terms of this Agreement upon completion of all conditions precedent <br />herein required to the reasonable satisfaction of Redevelopment's <br />counsel. <br />(n) "Redevelopment Expenses" shall mean all expenses <br />incurred by Redevelopment in undertaking its obligations hereunder <br />relating to the planning, marketing, disposition, and management of <br />the Blackthorn Corporate Center, as set forth in more detail at <br />Section 2.(c), hereinbelow. <br />(o) "Redevelopment Land" shall mean approximately 170 acres <br />of real property situated in St. Joseph County, Indiana, in an area <br />commonly known as the Airport Economic Development Area. <br />2. SALE, PURCHASE PRICE <br />(a) Subject to all of the terms of this Agreement, and for <br />the sum of Ten Dollars ($10.00) and other good and valuable <br />consideration, as set forth below, Airport agrees to sell and the <br />Redevelopment agrees to purchase the Airport Land. <br />(b) Airport and Redevelopment agree and restate that the <br />purpose of said conveyance is to facilitate the development of <br />Blackthorn Corporate Center. <br />to: <br />(c) In connection with the foregoing, Redevelopment agrees <br />1. Undertake, either directly or through Developer, the <br />planning, marketing, disposition, and management of the <br />Blackthorn Corporate Center, including the development and <br />creation of covenants, conditions, restrictions, and <br />easements pertaining to the Project Site to ensure that the <br />Project Site will be maintained as an attractive park -like <br />setting for business with ample landscaped areas, attractive <br />high quality structures, proper and desirable uses and <br />appropriate development of the Project Site; and to protect <br />against improper and undesirable uses of the Project Site; <br />to guard against the construction of improvements built of <br />improper materials or design; to encourage the construction <br />of attractive improvements in appropriate locations; to <br />prevent hazardous and inharmonious development of the <br />Project Site; to secure and maintain proper setbacks and <br />adequate free spaces between structures; and generally to <br />provide a high type and quality of development of the <br />Project Site. <br />-3- <br />
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