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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 />(b) Title Insurance Commitment and Policy. <br />1. Redevelopment has procured a preliminary binder of <br />title insurance at its sole expense. Redevelopment is aware of any <br />encumbrances, restrictions, easements, rights -of -way, zoning <br />ordinances, and other matters of record and accepts the Airport Land <br />subject to the same as identified in such preliminary binder. At the <br />date provided at Section 3(a), above, a Policy of Title Insurance or <br />an endorsement to the Title Commitment shall be issued to <br />Redevelopment insuring Redevelopment's fee simple interest in the <br />Airport Land, as of the date provided at Section 3(a), above, in the <br />state required by Section 4(a) above, with all general exceptions <br />deleted, and subject only to the "permitted exceptions ". <br />Redevelopment shall pay for all charges and costs of such Title <br />Insurance Policy. <br />2. Redevelopment waives such title defects or <br />objections and elects to proceed to acquire the Airport Land without <br />any abatement of the Purchase Price and to take title to the Airport <br />Land subject to such defects or objections. <br />4. RESTRICTIONS UPON USE OF AIRPORT LAND <br />(a) Agreements of Redevelopment. In order to protect and <br />„r provide for the future expansion, growth and development of the <br />Michiana Regional Airport, which borders the Airport Land, <br />Redevelopment agrees and the Deed shall state that Redevelopment and <br />its successors and assigns shall at no time construct, erect, or <br />suffer, any structure on the Airport Land to penetrate the Horizontal <br />Surface as defined in FAR Part 77. <br />(b) In addition, Redevelopment agrees and the Deed shall <br />state that: <br />1. The Grantee, and those whose title is derived from the <br />Grantee, covenant that they shall at no time construct, erect, or <br />suffer, any structure on the premises to penetrate the Horizontal <br />Surface defined in FAR Part 77. <br />2. The provisions of Indiana Code 34- 1 -52 -5 shall be <br />applicable to the Airport Land conveyed to Redevelopment herein <br />and that Redevelopment, its successors and assigns shall not <br />initiate or support action in any court or before any <br />governmental agency if the purpose of the action is to claim or <br />allege that the public use airport operations or any of the <br />operations or any of the operation's appurtenances are a private <br />use or a public nuisance: Provided, however, that this <br />prohibition shall be effective only so long as the public use <br />airport operations is operated in accordance with the rules of <br />the Indiana Department of Transportation, Division of <br />Aeronautics, or its successor, and the public use airport <br />operations are not operated in a negligent manner. <br />
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