No. 0982 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 Board, has agreed to sublease the Real Property from 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 the rent paid by the City to the Commission 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 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: Commencing at an iron at the intersection of the South co right -of -way line of South Street and the West right -of -way line of Columbia Street; thence South 00 °00100" West (bearing assumed), 57.75 feet along said West right -of -way line to the Point of Beginning; thence continuing South 00 000100" West, 57.75 feet along said West right -of -way line to the North right -of -way line of a 14.00 foot alley; thence North 89 039147" West, 45.25 feet along said North right -of -way line; thence North 00 000'00" East, 57.75 feet; thence South 89 °39147" East, 45.25 feet to the West right -of -way line of Columbia Street and the Point of Beginning and containing 0.0600 acres, more or less, and is subject to all easements, restrictions and or covenants of record commonly known as 609 South Columbia Street, South Bend, (the "Real Property ") 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 substntially similar to those embodied in the Lease, with the exception that the rent paid by to City to the Commission pursuant to said sublease shall be nominal in amount. 3. That this Resolution shall be in full force and effect upon its adoption by the South Bend Redevelopment Commission.