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No. 0969 approving an amended and restated lease between the SBRA and the RC for the AEDA public improvement project
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No. 0969 approving an amended and restated lease between the SBRA and the RC for the AEDA public improvement project
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Indiana, and improvements to be made thereon by the Authority or <br />its agent according to plans and specifications prepared by Cole <br />Associates, Inc. and Clyde E. Williams and Associates, Inc., <br />project engineers, all as described in Exhibit C hereto. The above <br />mentioned plans and specifications may be changed and additional <br />construction work may be performed and improvements may be <br />purchased by the Authority, but only with the approval of the <br />Lessee, and only if such changes or modifications or additional <br />construction work or improvements do not alter the character of the <br />Project or reduce the value thereof. Any such additional <br />construction work or additional improvements shall be part of the <br />property covered by this Lease. The above - mentioned plans and <br />specifications have been filed with and approved by the Lessee. <br />"Trust Agreements" means, collectively, the Trust Agreement <br />(Tax - Exempt Improvements) and the Trust Agreement (Taxable <br />Improvements) as defined herein. <br />"Trust Agreement (Taxable Improvements)" means the Trust <br />Agreement dated as of December 1, 1990, between the Authority and <br />the Trustee, securing the Taxable Bonds, as defined herein. <br />"Trust Agreement (Tax- Exempt Improvements)" means the Trust <br />Agreement dated as of December 1, 1990, between the Authority and <br />the Trustee, securing the Tax - Exempt Bonds, as defined herein. <br />"Trustee" means Society Bank, 202 South Michigan Street, South <br />Bend, Indiana 46601, as Trustee pursuant to the Trust Agreement, <br />and any successor trustee. <br />Any term not defined herein, which is defined in the Lease <br />Resolution or in the Trust Agreement, shall have the meaning as <br />defined in such resolution or agreement. <br />Section 2. Lease of Project. In consideration of the <br />rentals and other terms and conditions herein specified the <br />Authority does hereby lease, demise and let to the Lessee the <br />Projects: TO HAVE AND TO HOLD the same with all rights, <br />privileges, easements and appurtenances thereunto belonging, unto <br />the Lessee for a term of twenty -two (22) years, each beginning on <br />the dates the Tax - Exempt Project or the Taxable Project are <br />complete and ready for use, and ending on the day prior to such <br />dates twenty -two (22) years thereafter. However, the term of this <br />Lease shall terminate as to either or both of the Projects at the <br />earlier of (a) the exercise of the option to purchase by Lessee and <br />payment of the option price, or (b) the payment or defeasance of <br />all obligations of Lessor incurred (i) to finance the cost of the <br />leased property, (ii) to refund such obligations, (iii) to refund <br />such refunding obligations, or (iv) to improve the leased property. <br />The dates the Tax - Exempt Project and the Taxable Project are <br />complete and ready for use shall be endorsed on this Lease at the <br />-3- <br />\rlhill \sthbnd \airport\ general\ lease.amd;tmg;12- 21- 90;9:OOa.m. <br />
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