No. 1015 approving a sublease of real property to the COSB

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C RESOLUTION NO. 1015 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING A SUBLEASE OF REAL PROPERTY TO THE CITY OF SOUTH BEND WHEREAS, the South Bend Redevelopment Commission is lessee of the following described real property owned by the South Bend Redevelopment Authority (the "Authority ") under the Lease - Purchase Agreement dated as of November 1, 1989, and approved and modified on the 16th day of February, 1990, (the "Lease "): A parcel of land in the West Half (1 /2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty -seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Nineteen (19) and Twenty (20) 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 Southwest corner of Lot 18, also being the East right -of -way line of Rush Street, and the North right -of -way line of a 12.50 foot alley; thence North 89 041140" East 100.00 feet along said North right -of -way line to the point of beginning; thence North 00 101154" West, 40.00 feet; thence North 89 141140" East, 110.11 feet to the West right -of -way line of Lincolnway; thence South 37 021140" East, 50.12 feet to the North right -of -way line of a 12.50 foot alley; thence South 89 041140" West, 140.50 feet along said North right -of -way line to the point of beginning. Commonly known as 618 Lincolnway East (the "Real Property "); and WHEREAS, the Commission is desirous of subleasing the Real Property to the City of South Bend, Indiana; and WHEREAS, the City of South Bend is desirous of leasing the Real Property from the Commission; and WHEREAS, pursuant to I.C. 36- 9 -6 -3, the Board of Public Works of the City of South Bend (the "Board ") has custody of and may maintain all real property of the City of South Bend; and WHEREAS, pursuant to I.C. 36- 1 -11 -8, the City of South Bend, acting by and through the Board, may exchange or transfer property with another governmental entity upon terms and conditions agreed upon by the two (2) entities as evidenced by the adoption of substantially identical resolutions of each entity; and WHEREAS, the Commission has agreed to sublease the Real Property 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