No. 1066 approving execution of a lease between the SBRA and the SBRC for certain land and a building located thereon, and regarding other related matters

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EXHIBIT B NOTICE OF EXECUTION AND APPROVAL OF LEASE (Palais Royale Acquisition) The South Bend Redevelopment Commission (the "Commission ") , governing body of the Redevelopment District of the City of South Bend, Indiana (the "Redevelopment District ") , has executed a Lease dated as of March 1, 1992, with the South Bend Redevelopment Authority (the "Redevelopment Authority ") providing for the acquisition by lease /purchase by the Commission from the Redevelopment Authority of certain land and a building located thereon more commonly known as the Palais Royale (the "Project ") as described in said Lease. After a public hearing held on the proposed lease by the Commission on May 1, 1992, at which all interested parties were provided the opportunity to be heard, the Commission adopted its Resolution No. 1053 which, among other things, authorized and directed the President or Vice President and Secretary of the Commission, on behalf of the City of South Bend, to execute and deliver the Lease in substantially the form presented at the meeting and found that the rental payments to be paid by the Commission are fair and reasonable and that the use of the Project throughout the term of the Lease will serve the public purpose of the City of South Bend and is in the best interests of its residents. The Common Council of the City of South Bend adopted an Ordinance approving the Lease on May 11, 1992, and the State Board