No. 1080 approving a sublease of real property to the COSB

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I. to the City of South Bend, and the City of South Bend, acting by and through the Board, has agreed to sublease the Real Property from the Commission under the terms and conditions of a sublease containing terms and conditions which are substantially similar to those embodied in the Lease, with the exception that the rent paid by the City to the Commision pursuant to said sublease shall be nominal in amount. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. That the sublease of the following described real property by the South Bend Redevelopment Commission to the City of South Bend, acting by and through its Board of Public Works: A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 13 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's Office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right -of -way line of Rush Street and the South right -of -way line of a 12.50 foot alley; thence North 89 041140" East (bearing assumed), 110.00 feet along said South right -of -way line to the Point of Beginning; thence continuing North 89 041140" East, 55.00 feet; thence South 00 001154" East, 166.00 feet to the North right -of -way line of South Street; thence South 89 041140" West, 55.00 feet along said South right -of -way line; thence North 00 °01'54" West, 166.00 feet to the South right -of -way line of a 12.50 foot alley and the Point of Beginning and containing 0.2096 acres, more or less, and is subject to all easements, restrictions and or covenants of record. Commonly known as 611 East South Street (the "Real Property ") under terms and conditions that are substantially similar to those embodied in the Lease, shall be, and hereby is, approved, subject to the adoption of a resolution by the Board of Public Works of the City of South Bend, substantially identical in its terms and conditions as this resolution, and, further, subject to the approval of the South Bend Redevelopment Authority. 2. That the President and Secretary of the Commission shall be, and hereby are, authorized, respectively, to execute and attest to the execution of a sublease containing terms and conditions which are substantially similar to those embodied in the Lease, with the exception that the rent paid by the City to the Commisison shall be nominal in amount.