No. 0994 approving a sublease of real property to the COSB

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�q 7 RESOLUTION NO. 994 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 Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the East right -of -way line of Carroll Street and the South right -of -way line of South Street; thence South 89 039147" East (bearing assumed), 141.50 feet along said South right -of -way line to the Point of Beginning; thence continuing South 89 039'47" East, 50.00 feet along said South right -of -way line; thence South 00 000100" East, 115.50 feet to the North right -of -way line of a 14.00 foot alley; thence North 89 °39147" West, 50.00 feet along said North right -of -way line; thence North 00 000100" West, 115.50 feet to the South right -of -way line of South Street and the Point of Beginning, and containing 0.1326 acres, more or less, and is subject to all easements, restrictions and or convenants of record, commonly known as 312 East South Street, South Bend; 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