No. 0846 approving modifications to and execution of a lease between the SBRA and the SBRC for the St. Joseph/Wayne parking facility and other related matters

Home Browse Search

L E A S E This Lease entered into as of the first day of June, 1988 between SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and politic organized and existing under Indiana Code 36 -7 -14.5 (the "Authority ") and SOUTH BEND REDEVELOPMENT COMMISSION (the "Lessee "). WITNESSETH: Section 1. Definitions. The terms defined in this Section 1 shall for all purposes of this Lease have the meanings herein specified unless the context otherwise requires. "Act" means Indiana Code 36 -7 -14.5, as the same from time to time may be amended or supplemented. "Authority" means the South Bend Redevelopment Authority, a body corporate and politic organized and existing under the Act. "Bonds" means South Bend Redevelopment Authority Lease Rental Revenue Bonds (Parking Facility Project). "Facility" means the real estate in South Bend, Indiana, described in Exhibit A hereto, and a parking garage facility (the "Garage ") to be erected thereon by the Authority or its agent according to plans and specifications prepared for the Authority by CWA Walker, Inc., project architects of Indianapolis, Indiana. The above - mentioned plans and specifications may be changed, additional construction work may be performed and equipment may be purchased by the Authority, but only with the approval of the Lessee, and only if such changes or modifications, additional construction work or equipment do not alter the character of the Building or reduce the value thereof. Any such additional construction work or additional equipment shall be part of the property covered by this Lease. The above - mentioned plans have been filed with and approved by the Lessee. "Lease" means this Lease as the same may be amended, modified or supplemented by any amendments or modifications hereof and supplements hereto entered into in accordance with the provisions hereof. "Lessee" means the South Bend Redevelopment Commission or if said Commission shall be abolished the commission, board, body or agency succeeding to the principal functions thereof. "Lease Resolution" means the resolution of the Authority passed on June 17, 1988, establishing funds for the payment of lease rentals.