Approving an Interlocal Agreement btw. City of South Bend & St. Joseph County Airport Authority

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10,000 feet, and expands in width from 1,000 feet at its inner and lower edge to 4,000 feet at its outer and upper edge. C. Transitional Surfaces The Transitional Surface starts at the edge of the 50:1 surface and extends upward at a 7:1 slope until it intersects the Horizontal Surface, an imaginary surface that is horizontal and at an elevation 150 feet above the Established Elevation of the South Bend Regional Airport. d. Horizontal Surface The Horizontal Surface is a surface that is 150 feet above the Established Elevation of the South Bend Regional Airport and is bounded by arcs swung, at a 10,000 foot radius, from the physical ends of Runways 9R, 27L, 18 and 36; with said arcs connected by straight lines from the tangent points of each adjacent arc. 2. Parties agree to enter into a lease of the land shown on Exhibit "A" for a period of twenty (20) years, unless terminated sooner according to the terms of this Agreement by either party. In addition the parties agree there may be up to four (4), five (5) year options for an extension of the Lease as further negotiated in good faith between the parties. The Parties acknowledge that Exhibit "A" represents an initial parcel of real estate to construct Phase I of the training facility. The Parties further acknowledge that there is additional property of the Airport Authority that could constitute the full training facility, which property is described in the attached Exhibit "B ". Upon receipt of an offer to rent any portion of land in the land described in Exhibit B (hereinafter referred to as "Offer ") Airport Authority shall grant unto City the exclusive and irrevocable right of first refusal and first option to lease (hereinafter referred to as "Option to Lease ") said land upon the terms and conditions hereinafter set forth: a. The Option to Lease may only be exercised by City within 60 days from notification by Airport Authority that it has received an Offer. b. If the Offer is a lease, regardless of the term of the lease, the term of city's Option to Lease shall be for the remainder of the 20 years of this Interlocal Agreement. C. If any portion of the land described in the Offer is outside the land as described in Exhibit B, the Option to Lease only applies to that portion of the land inside Exhibit B. d. If the land involved in the Offer is not adjacent to Exhibit A, the Option to Lease shall also include such land within Exhibit B as City reasonably deems necessary to connect Exhibit A with the land in the Offer. OA