No. 1012 approving a sublease of real property to the COSB

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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 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 (1/2) of the Southeast Quarter 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 Fourteen (14) and Twenty -one (21) of John Rush's 1st Addition, as recorded in Plat 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 of a 12.50 foot alley; thence North 89 041140" East (bearing assumed), 165.00 feet along said South right -of -way line to the Point of Beginning; thence continuing North 89 041140" East, 82.06 feet along said South right -of -way line to the Southwest right -of -way line of Lincoln Way; thence South 37 021140" East, 56.16 feet along said Southwest right -of -way line; thence South 71 041140" West, 31.43 feet; thence South 89 °41140" West, 86.28 feet; thence North 00 001154" West, 54.53 feet to the South right -of -way line of a 12.50 foot alley and the point of beginning. Commonly known as 620 -622 Lincolnway East, 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.