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No. 0638 extinguishing demand note obligation of Rahn Properties II
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No. 0638 extinguishing demand note obligation of Rahn Properties II
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10/18/2012 3:58:35 PM
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RESOLUTION NO. 638 <br />RESOLUTION OF THE SOUTH BEND DEPARTMENT OF REDEVELOP- <br />MENT EXTINGUISHING DEMAND NOTE OBLIGATION OF RAHN <br />PROPERTIES II <br />WHEREAS, on the 18th day of October, 1979, RAHN Properties II by <br />William R. Hansen, attorney in fact on behalf of JVJ South Bend Joint <br />Venture, a general partner and by Peter Roberts, a general partner on be- <br />half of RAHN /SBM, hereinafter referred to as the "Redeveloper ", executed <br />a Demand Note in favor of the South Bend Department of Redevelopment, <br />hereinafter referred to as the "Agency ", in the amount of ten thousand <br />dollars ($10,000.00); <br />WHEREAS, said Demand Note was executed by the Redeveloper to comply <br />with the good faith deposit provisions of Part II, Article I, Section 101 <br />of the Ground Lease executed on October 22, 1979 by the Agency and the <br />Redeveloper; <br />WHEREAS, the provisions of Section 101(d) of said Ground Lease pro- <br />vide in pertinent part that upon the receipt by the Agency of specified <br />items that the deposit of the Redeveloper shall be returned; <br />WHEREAS, all items as specified in Section 101(d) have, as of this <br />date, been received by the Agency; <br />WHEREAS, the Redeveloper has submitted its request to the Agency <br />for the return of the note; and <br />WHEREAS, the original executed copy of the note has not been located <br />in the records of the Agency; <br />NOW, THEREFORE, BE IT RESOLVED, that the delivery to the Redeveloper <br />of a true and correct copy of the original of said note and the cancellation <br />noted on said copy shall constitute the return and the delivery of said <br />original note and the full extinguishment of any and all obligations repre- <br />sented thereby on behalf of the Redeveloper; <br />BE IT FURTHER RESOLVED, that a true and correct copy of the original <br />of said note be cancelled by the Agency and delivered to the Redeveloper <br />and proof of said delivery be filed with the Agency. <br />CITY OF SOUTH BEND DEPARTMENT <br />OF REDEVELOPMENT <br />. Jay N mt Pres' ent 2 <br />Attest , -/ <br />er uonaiason, Secretary <br />Date: .5 - /_ $ / <br />
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