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RESOLUTION NO. 113
<br />RtZOLUTION AUTHORIZING ACCEPTANCE AND CONSENT TO THE ASSIGNMENT
<br />O CUMMINS ENGINE COMPANY, INC. OF COLUMBUS, INDIANA TO THE
<br />SOUTH BEND LATHE, A DIVISION OF AMSTED INDUSTRIES, INCORPORATED
<br />R LAND IN THE SAMPLE STREET INDIANA R-7 REDEVELOPMENT AREA.
<br />Cummins Engine Company, Inc. of Columbus, Indiana submitted a
<br />written offer meeting the approved minimum price on disposal parcel commonly
<br />referred to as Number 61 Sample Street Redevelopment Project Indiana R -7,
<br />which was approved by the South Bend Redevelopment Commission by appropriate
<br />resolution on October 15, 1964, and
<br />WHEREAS, said Cummins Engine Company, Inc. has assigned its right, title
<br />and interest in and to said real estate described in said offer to South Bend
<br />Lathe, a division of Amsted Industries, Incorporated, and
<br />WHEREkS, the South Bend-Redevelopment Commission has determined that
<br />said Cummi s Engine Company, Inc. has determined that since said real estate
<br />does not a join the real estate used as its foundry in the City of South
<br />Bend, and cannot conveniently use said real estate and that South Bend Lathe,
<br />a division of Amsted Industries, Incorporated, has purchased the real estate
<br />immediatelv adjoining said Parcel Number 6 and can conveniently use the
<br />real estate for the same purposes as contemplated by Cummins Engine Company,
<br />Inc., and that there has been no speculation by Cummins Engine Company, Inc.,
<br />in its assignment of its interest to the South Bend Lathe, a division of
<br />Amsted.Ind stries, Incorporated, and
<br />WHERE S, South Bend Lathe, a division of Amsted Industries, Incorporated,
<br />has filed their Redeveloper's Statement for public disclosure and the
<br />South Bend Redevelopment Commission has determined that South Bend Lathe, a
<br />division o Amsted Industries, Incorporated, possesses the qualifications and
<br />financial resources to acquire and develop the land in accordance with
<br />Urban Rene al Plan, and
<br />WHE , South Bend Lathe, a division of Amsted Industries, Incorporated,
<br />has accepted the assignment of Cummins Engine Company, Inc. in accordance
<br />with their written offer heretofore approved by the Redevelopment Commission,_
<br />NOW, THEREFORE, BE IT RESOLVED.by the South Bend Redevelopment Commission
<br />that subject to the approval of the Regional Office of the Housing and Home
<br />Finance Agency of Region 4, the assignment of Cummins Engine Company, Inc. to
<br />South Bend Lathe, a division of Amsted Industries, Incorporated, for the
<br />purchase of Parcel Number 6 described as follows:
<br />Parcel No. 6 in the Inner Belt Industrial Park, a Subdivision in
<br />the Southeast and Southwest Quarters of Section 11 and the Northeast
<br />.Quarter of Section 14, all in Township 37 North, Range 2 East of the
<br />Second Principal Meridian, City of South Bend, Indiana, the Plat of
<br />which is recorded in Plat Book 21, Page I in the office of the Recorder. of-
<br />St. J eph County, Indiana, and containing 42,826 square feet, more or less.
<br />is hereby a proved and the Commission hereby further consents to the
<br />assignment Df said described real estate from Cummins Engine Company, Inc., to
<br />South Bend ache, a division of Amsted Industries, Inco-rporated, and the said
<br />South Bend ledevelopment Commission hereby further releases Cummins Engine
<br />Company, In of any further liability whatsoever under said Offer to Purchase
<br />the above- scribed real estate now on file with said Commission.
<br />BE IT IFURTHER RESOLVED that the President and Secretary of the South Bend
<br />Redevelopment Commission are hereby authorized and directed to execute the
<br />consent and approval of said assignment by Cummins Engine Company, Inc., to
<br />South Bend Lathe, a division of Amsted Industries, Incorporated.
<br />Adoptel this 21st day of October 1965.
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