No. 0989 approving the execution of a second addendum to the lease for the SBCDA public improvement project

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v t Not" 3 C 9108978 `-' SECOND ADDENDUM TO LEASE _ c , 'Y? � t ' r'> � � • U SOUTH BEND REDEVELOPMENT AUTHORITY' C', �:r i n TO Jr r,. a SOUTH BEND REDEVELOPMENT COMMISSION T' - `� o (South Bend Central Development Area = i o Public Improvement Project) r+ THIS SECOND ADDENDUM, made and entered into this 1Z —fday of 6C. �! ti` 1991, by and between the South Bend Redevelopment Authority, a body corporate and politic organized and existing under Indiana Code 36 -7 -14.5 (hereinafter with its successors and assigns referred to as the "Authority ") , and the South Bend Redevelopment Commission, the governing body of the South Bend Department of Redevelopment and the Redevelopment District of South Bend, Indiana (hereinafter called the "Lessee "), WITNESSETH: 0lOdf Q In consideration of the mutual covenants herein contained it is agreed that the Lease (South Bend Central Development Area Public Improvement Project) previously entered into between said parties as of the first day of November, 1989, as amended by an addendum dated April 6, 1990, shall be further amended as follows: follows: 1. Section 2 of the Lease is amended to read as Section 2. Lease of Project. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Project: TO HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee for a term beginning on the date of execution of this Lease, and ending on the day prior to the date which is twenty -two (22) years after the date the Project is complete and ready for use. However, the term of this Lease shall terminate at the earlier of (a) the exercise of the option to purchase by Lessee and payment of the option price, or (b) the payment or defeasance of all obligations