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NOW, THEREFORE, for and in consideration of the conveyance <br />of the Airport Land to Redevelopment and of the mutual covenants and <br />promised contained herein, and pursuant to the authority granted the <br />parties under I.C. 36 -1 -7, Redevelopment and Airport agree as <br />follows: <br />1. PREAMBLE <br />Redevelopment and Airport, individually and jointly, confirm <br />their commitment to economic development within the County of St. <br />Joseph. In furtherance of the promotion of economic development in <br />St. Joseph County, Redevelopment intends to construct, equip and <br />establish Blackthorn which will serve as attractive infrastructure to <br />the Blackthorn Corporate Center, to be located adjacent thereto. <br />Redevelopment and Airport undertake hereby the operation and <br />management of Blackthorn. <br />In consideration of the execution of this Agreement, and the <br />payment of One Hundred Dollars ($100.00), the receipt of such sum, <br />and the sufficiency of the entire consideration is hereby <br />acknowledged by Airport, Airport shall convey title to the Airport <br />Land to Redevelopment under the terms and conditions set forth below. <br />2. DEFINITIONS <br />(a) "Agreement" shall mean this agreement, entered into <br />this day of , 1992, by and among Redevelopment <br />and Airport. <br />(b) "Airport" shall mean the St. Joseph County Airport <br />Authority, a municipal corporation organized under and operating <br />pursuant to I.C. 8 -22 -3, and having its offices at 4477 Terminal <br />Drive, South Bend, Indiana 46628. <br />(c) "Airport Land" shall mean approximately 189 acres of <br />real property situated in St.,Joseph County, Indiana, in an area <br />commonly known as the Airport Economic Development Area, and more <br />particularly described at Exhibit "A," hereto. <br />(d) "Blackthorn" shall mean the 18- or 19 -hole public play, <br />first class golf course, clubhouse, maintenance building and related <br />facilities as described by the plans and specifications approved by <br />Redevelopment. <br />(e) "Blackthorn Expenses" shall mean all expenses relating <br />to the operation and maintenance of Blackthorn, including but not <br />limited to those identified at Exhibit "B," hereto, and including all <br />semi - annual lease payments, as identified at Exhibit "C," hereto. <br />(f) "Blackthorn Revenues" shall mean all revenues relating <br />to the operation and maintenance of Blackthorn, including but not <br />limited to those identified at Exhibit "D," hereto. <br />-2- <br />