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6B (2)
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01-24-12 Packet
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6B (2)
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11/1/2012 11:45:06 AM
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covenants and agreements of this Agreement, including the agreement to deliver possession for <br />any reason herein provided; and all the parties to this Agreement agree that the covenants and <br />agreements herein contained shall be binding upon, apply and inure to their respective heirs, <br />executors, administrators, successors and assigns. <br />18. It is agreed that all payments herein provided to be made shall be made without <br />relief from valuation or appraisement laws, and all payments required to be made which shall not <br />be made at the time due shall bear interest at the rate of six percent (6 %) per annum from the <br />date of delinquency. <br />19. That upon signing this Agreement, the Provider shall deliver to the South Bend <br />Department of Redevelopment a Certificate of Public Liability Insurance naming the City of <br />South Bend, the South Bend Department of Redevelopment and the South Bend Redevelopment <br />Commission as additional insured, against liability for injury to persons and /or persons occurring <br />in or about the Parking Lot. Such insurance shall be kept in full force and effect during the term <br />of this Agreement in an amount not less than $700,000 for any one person and not less than <br />$5,000,000 for any one incident. <br />20. That property taxes assessed or levied against the Parking Lots, if any, shall be <br />paid or discharged by the Provider. <br />21. That the Provider shall have the right to make any alterations necessary to <br />improve the Parking Lots, for use as a surface parking lot, upon written approval by the <br />Executive Director of the South Bend Department of Community and Economic Development. <br />Said approval shall not be unreasonably withheld. <br />22. That this Agreement may be terminated by thirty (30) days advanced written <br />notice of either party as follows: <br />Redevelopment Commission <br />1200 County -City Building <br />South Bend, Indiana 46601 <br />Downtown South Bend <br />c/o DTSB Board Chair <br />217 S. Michigan St. <br />South Bend, Indiana 46601 <br />23. That the Parking Lots leased hereunder shall not be sublet and /or assigned without <br />the express, prior written approval of the Commission. Any provisions in any Agreement <br />providing protection or benefit to the Provider shall provide the same protection or benefit to the <br />Commission. <br />24. That any income received by the Provider from the operation of a Parking Lot or <br />by subletting or assigning this Agreement shall be used for the purpose of paying costs <br />associated with the operating and maintenance of said Parking Lot and for the following <br />additional purposes: <br />18 <br />
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