No. 0981 approving a sublease of real property to the COSB (between the SBRC and the Board of Public Works)

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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 emobdied in the Lease, with the exception that 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: 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), 100.00 feet along said South right -of -way line of South Street; thence South 00 °00100" to the East right -of -way line of Carroll Street; thence 00 000100" West, 53.50 feet along said East right -of -way line of Carroll Street to the Point of Beginning and containing 0.1230 acres, more or less, and is subject to all easements, restrictions and or covenants of record, commonly known as 602 South Carroll 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 substantially similar to those embodied in the Lease, with the exception that the rent paid by the 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.