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South Bend Redevelopment Commission <br />Regular Me Ling - May 15, 1981 <br />3. APPROVAL OF CLAIMS (continued) <br />P.E.A. - 312 LOANS <br />Art Keel <br />Art Kell & Scotmar L.D.W. <br />TOTAL <br />GRAND TOTAL <br />4. COMMUNICATIONS <br />$ 416.99 <br />386.41 <br />$ 803,40 <br />$24;221.29 <br />Mr. Mc ahon explained that we have received an official <br />notice from John Phair, the managing partner of Columbia <br />Place Pssociates, of his attempt to pursue an IRB in the <br />amount of $1,550,000. <br />COLUMBIA PLACE ASSOCIATES <br />3043 NORTH NORWAY MAPLE COURT <br />SOUTH BEND, INDIANA 46628 <br />May 12, 1981 <br />South Bend epartment of Redevelopment <br />County-City Building, 12th Floor <br />South Bend, Indiana 46601 <br />Gentlemen: <br />As required by Section 601 of the Contract for Sale of Land for <br />Private Redevelopment dated November 7, 1975, between the South <br />Bend Department of Redevelopment and St. Joseph River Bend De- <br />velopment C rporation, this will inform you that Columbia Place <br />Associates (the "Purchaser "), and St. Joseph River Bend Develop- <br />ment Corpor tion, are executing a Mortgage, Loan and Security <br />Agreement in favor of the City of South Bend, Indiana (the "City ") <br />imposing a Lien on the real estate described in Exhibit A, <br />attached to this letter, to secure the loan from the City to the <br />Purchaser in the amount of $1,550,000.00 from the proceeds of <br />the sale by the City of its Economic Development Revenue Bonds <br />(Columbia PlZace Associates Project), Series 1981. <br />Sincerely, <br />S/ <br />John T. Phair, <br />Managing Partner <br />3 <br />LETTER FROM JOHN T. PHAIR <br />WAS RECEIVED AND PLACED ON <br />FILE RELATING TO COLUMBIA <br />PLACE ASSOCIATES PROJECT <br />