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computing the total interest on all of the Bonds from the date <br />with a net interest rate of 7.0189 %, which bid was accepted; and <br />WHEREAS, this will result in a lower annual Lease payment <br />for the Project; and <br />WHEREAS, the Commission desires to approve and execute <br />an addendum to the Lease (the "Addendum "), a copy of which is <br />hereby attached as Exhibit A, reflecting such lower annual Lease <br />payments for the Project and making certain other amendments to the <br />Lease; <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />s <br />REDEVELOPMENT COMMISSION, AS FOLLOWS: <br />1. The second paragraph of Section Four of the Lease <br />is amended to read as follows: <br />After the sale of the Bonds issued by the Authority to <br />pay the cost of the acquisition of the property therefor <br />and other expenses incidental thereto, the sum of the <br />first and second semiannual rental installments and the <br />sum of the third and fourth semiannual rental <br />installments, and so on, shall be reduced to an amount <br />equal to the multiple of One Thousand Dollars ($1,000) <br />next highest to the highest sum of principal and interest <br />due in any year ending on a Bond maturity date on such <br />Bonds plus Three Thousand Dollars ($3,000), payable in <br />equal semiannual installments. Such amount of reduced <br />annual rental shall be endorsed on this Lease at the end <br />hereof by the parties hereto as soon as the same can be <br />done after the sale of said Bonds, and such endorsement <br />shall be recorded as an addendum to this Lease. <br />2. The Lease shall be amended to reduce the annual <br />rental payments as set forth in Exhibit A attached hereto. The <br />Commission hereby approves all other amendments to the Lease set <br />forth in Exhibit A attached hereto. <br />-2- <br />thereof <br />to their maturities and deducting <br />therefrom the <br />premium <br />j <br />bid, if <br />any, or adding thereto the amount of <br />any discount, <br />if any, <br />with a net interest rate of 7.0189 %, which bid was accepted; and <br />WHEREAS, this will result in a lower annual Lease payment <br />for the Project; and <br />WHEREAS, the Commission desires to approve and execute <br />an addendum to the Lease (the "Addendum "), a copy of which is <br />hereby attached as Exhibit A, reflecting such lower annual Lease <br />payments for the Project and making certain other amendments to the <br />Lease; <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />s <br />REDEVELOPMENT COMMISSION, AS FOLLOWS: <br />1. The second paragraph of Section Four of the Lease <br />is amended to read as follows: <br />After the sale of the Bonds issued by the Authority to <br />pay the cost of the acquisition of the property therefor <br />and other expenses incidental thereto, the sum of the <br />first and second semiannual rental installments and the <br />sum of the third and fourth semiannual rental <br />installments, and so on, shall be reduced to an amount <br />equal to the multiple of One Thousand Dollars ($1,000) <br />next highest to the highest sum of principal and interest <br />due in any year ending on a Bond maturity date on such <br />Bonds plus Three Thousand Dollars ($3,000), payable in <br />equal semiannual installments. Such amount of reduced <br />annual rental shall be endorsed on this Lease at the end <br />hereof by the parties hereto as soon as the same can be <br />done after the sale of said Bonds, and such endorsement <br />shall be recorded as an addendum to this Lease. <br />2. The Lease shall be amended to reduce the annual <br />rental payments as set forth in Exhibit A attached hereto. The <br />Commission hereby approves all other amendments to the Lease set <br />forth in Exhibit A attached hereto. <br />-2- <br />