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South Bend Redevelopment Commission <br />Special Meeting - January 23, 1998 <br />6. NEW BUSINESS (CONT.) <br />g. continued.... <br />Area. (Memorial Hospital of South <br />Bend, Inc.) <br />Bruce Bancroft stated that he and <br />Ms. Bruneel have been working together <br />to finalize the Groundlease, the <br />Development Agreement and a number of <br />Easements that pertain to the Memorial <br />Health Plex project. <br />He also stated that when the contracts <br />were originally signed in December of <br />1996, the legal description, the size of the <br />buildings and a number of details were <br />not yet finalized. The Groundlease, the <br />Development Agreement and the <br />Easement documents all have been <br />finalized and are now available for the <br />Commission's consideration. The <br />Memorial Health Plex project closing is <br />scheduled to take place in a week. At that <br />time, Memorial Hospital will pay the <br />Department of Redevelopment, a single, <br />lump sum rent payment of $92,800 and <br />Memorial will make a "good faith" <br />deposit that is required under the <br />agreement. <br />Mr. Bancroft noted that most of the <br />Agreements were signed by Phil <br />Newbold on behalf of Memorial Hospital. <br />Anne Bruneel reported that the Amended <br />and Restated Agreement for the Lease <br />and Development of Real Property will <br />amend and restate, in its entirety, the <br />F:\ HOME\ CPHIPPS \WPDATA \COMMSN\012398.MIN -7- <br />