No. 1014 approving a sublease of real property to the COSB

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11 RESOLUTION NO. 1014 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 14 and 21 of John Rush's lst 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 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), 165.00 feet along said South right -of -way line; thence South 00 001154" East, 54.53 feet to the point of beginning; thence North 89 041140" East, 86.28 feet; thence North 71 041140" East, 31.43 feet to the Southwesterly right -of -way line of Lincolnway; thence South 37 021140" East, 62.30 feet along said Southwesterly right -of -way line; thence South 89 041140" West, 153.89 feet to the West line of Lot 14 of said John Rush's First Addition; thence North 00 001154" West, 40.00 feet to the point of beginning. Commonly known as 626 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