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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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1/16/2012 2:31:45 PM
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a , <br />-2- <br />WHEREAS, the award of the sale of <br />the Bonds will permit a <br />reduction in the annual rental payments <br />on the Lease pursuant to <br />Section 4 of the Lease; and <br />WHEREAS, the Commission desires to <br />approve and execute an <br />addendum to the Lease (the "Addendum "), a <br />copy of which is attached <br />hereto as Exhibit "A ", reflecting such lower annual Lease payments <br />and making certain other amendments to the <br />Lease; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE <br />SOUTH BEND REDEVELOPMENT <br />COMMISSION, AS FOLLOWS: <br />1. The Lease shall be amended to <br />reduce the annual rental <br />payments as set forth in Exhibit "A" hereto. The Commission herby <br />approves all other amendments to the Lease <br />set forth in Exhibit "A" <br />hereto. <br />2. All remaining terms, covenants and conditions as set forth <br />in the Lease shall remain in full force and <br />effect. <br />3. The President and Secretary of <br />the Commission are hereby <br />authorized and directed to execute and <br />attest, respectively, the <br />Addendum and the Amended and Restated <br />Lease attached hereto as <br />Exhibit "B ". <br />4. This resolution shall be in full <br />force and effect after its <br />adoption by the Commission. <br />-2- <br />
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