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No. 0924 reducing the annual rental on the lease for the SBCDA public improvement project and approving the execution of an addendum to the lease
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No. 0924 reducing the annual rental on the lease for the SBCDA public improvement project and approving the execution of an addendum to the lease
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10/18/2012 3:12:59 PM
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access and other easements and rights -of -way, restrictions and <br />exceptions that Lessee certifies will not interfere with or impair <br />the Project, (d) any mechanics', laborers', materialmen's, suppliers' <br />to or vendors' lien or right in respect thereof if payment is not yet <br />due and payable and (e) such minor defects, irregularities, <br />encumbrances, easements, rights -of -way and clouds on title as do not, <br />in the opinion of the Trustee, materially impair the Authority's <br />interest in or Lessee's use of the Project. <br />"Project" means the real estate (including all right -of -way <br />easements contained therein) in South Bend, Indiana, and improvements <br />to be made thereon by the Authority or its agent according to plans <br />and specifications prepared by the project engineers (a list of which <br />is described in Exhibit B hereto), all as described in Exhibit C <br />hereto. The above mentioned plans and specifications and the Project <br />may be changed and additional construction work may be performed and <br />improvements may be purchased by the Authority, but only with the <br />approval of the Lessee (which approval shall not be withheld by the <br />Lessee in the event of the inability of the Authority to acquire <br />timely and at a reasonable price all of those real property interests <br />constituting part of the Project which must be obtained by eminent <br />domain), 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 />"Redevelopment District Bond Fund" means the Redevelopment <br />District Bond Fund of Lessee authorized by Indiana Code 36- 7 -14 -27 <br />and the Lease Resolution. <br />"South Bend Central Development Area Public Improvement <br />Project Principal and Interest Account" means the account by that <br />name created in the Redevelopment District Bond Fund by the Lease <br />Resolution. <br />"Trust Agreement" means the Trust Agreement dated as of <br />November 1, 1989, between the Authority and the Trustee, securing the <br />Bonds. <br />"Trustee" means First Interstate Bank of Northern Indiana, <br />N.A., 112 West Jefferson Boulevard, South Bend, Indiana, as Trustee <br />pursuant to the Trust Agreement, 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 Authority <br />does hereby lease, demise and let to the Lessee the Project: TO HAVE <br />AND TO HOLD the same with all rights, privileges, easements and <br />appurtenances thereunto belonging, unto the Lessee for a term of <br />-2- <br />
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