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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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0 0 <br />revert to Airport, unless otherwise agreed by Airport and <br />Redevelopment in a separate written agreement recorded in the office <br />of the St. Joseph County Recorder. <br />E. Promptly after Closing, Airport shall furnish <br />Redevelopment with a Certificate of Payment and Release from Reverter <br />Provision. This Certificate and Release shall be conclusive <br />determination of satisfaction of the requirements of 2.D. of this <br />Agreement and section (a) of the Deed. After issuance of the <br />Certificate and Release by Airport, neither the Airport nor any other <br />party shall thereafter have or be entitled to exercise any rights, <br />remedies, or controls granted or reserved in 2.D. of this Agreement <br />and /or section (a) of the Deed with respect to that portion of the <br />Airport Land to which the Certificate and Release pertain. Each <br />Certification and Release shall be in such form as to be recordable <br />in the office of the St. Joseph County Recorder's Office. <br />F. If the Airport refuses or fails to provide <br />Certification and Release within thirty (30) days after <br />Redevelopment's request, the Airport shall provide Redevelopment with <br />a written statement indicating how Redevelopment failed to comply <br />with the provisions of this Agreement and giving the measures <br />necessary, in the Airport's opinion, for Redevelopment to take in <br />order to obtain such certification. If, within forty -five (45) days <br />of its receipt of Redevelopment's written request for certification, <br />the Airport fails or refuses to provide such written statement <br />indicating how Redevelopment failed to comply with the provisions of <br />this Agreement, Certification and Release shall be deemed granted. <br />Proof of the mailing of such written statement by the Airport shall <br />be conclusive evidence of the Airport's compliance with the <br />requirements of this subsection. Redevelopment may file of record an <br />affidavit at any time after the expiration of such forty -five (45) <br />day period, with a copy of Redevelopment's request attached, as <br />evidence of such deemed Certification and Release. <br />G. Redevelopment agrees to use its best efforts to dispose <br />of the Airport Land in such a manner that best serves the development <br />of Blackthorn Corporate Center. <br />3. TITLE TO AIRPORT LAND <br />(a) State of Title to be Conveyed. On or before March 19, <br />1993, Airport shall convey to Redevelopment, its nominees, successors <br />or assigns, by general Warranty Deed, good and merchantable and <br />insurable fee simple title with the possibility of reverter, as <br />provided herein, to the Airport Land free from all liens, <br />encumbrances, restrictions, rights -of -way and other matters, <br />excepting only the "permitted exceptions" described as follows: (i) <br />the lien of general real estate taxes not yet due and payable; (ii) <br />liens or encumbrances of a definite or ascertainable amount and which <br />will be paid and discharged in full by or for Airport at or prior to <br />the Closing; and (iii) liens, encumbrances and restrictions of record <br />as shown on the Title Commitment issued by the York Title and Escrow <br />Corporation on February 24, 1993 under Commitment No. 101750K -32 that <br />are approved and accepted by Redevelopment. <br />-5- <br />
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