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LEASE <br />CW This Lease entered into as of the 1st day of March, 1992 <br />between the SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate <br />and politic organized and existing under Indiana Code 36 -7 -14.5 <br />(the "Authority) and the SOUTH BEND REDEVELOPMENT COMMISSION, the <br />governing body of the South Bend Department of Redevelopment and <br />the Redevelopment. District of the City of South Bend, Indiana (the <br />"Lessee ") , acting for and on behalf of the City of South Bend, <br />Indiana. <br />WITNESSETH: <br />Section 1. Definitions. The terms defined in this <br />Section 1 shall for all purposes of this Lease have the meanings <br />herein specified unless the context otherwise requires. <br />"Act" means Indiana Code 36 -7 -14.5, as the same from time to <br />time may be amended or supplemented. <br />"Authority" means the South Bend Redevelopment Authority, a <br />body corporate and politic organized and existing under the Act, <br />or if said Authority shall be abolished, the authority, board, <br />body, instrumentality or agency succeeding to the principal <br />functions thereof. <br />"Bonds" means South Bend Redevelopment Authority Taxable Lease <br />Rental Revenue Bonds (Palais Royale). <br />"Lease" means this Lease as the same may be amended, modified <br />or supplemented by any amendments or modifications hereof or <br />supplements hereto entered into in accordance with the provisions <br />hereof. <br />"Lessee" means the South Bend Redevelopment Commission, the <br />governing body of the South Bend Department of Redevelopment and <br />the Redevelopment District of the City of South Bend, Indiana, or <br />if said Commission shall be abolished, the commission, board, body <br />or agency succeeding to the principal functions thereof. <br />"Lease Resolution" <br />passed on <br />of lease <br />rentals. <br />means the resolution of the Commission <br />1992, establishing funds for the payment <br />_ "Palais Royale Principal and Interest Account" means the <br />account by that name created in the Redevelopment District Bond <br />Fund by the Lease Resolution. <br />"Permitted Encumbrances" means those items listed in Exhibit <br />A hereto and any future (a) liens for taxes not then delinquent, <br />(b) this Lease and the Trust Agreement, leases, subleases and other <br />agreements permitted pursuant to Section 13 hereof, (c) utility, <br />access and other easements and rights -of -way, restrictions and <br />