Approving a lease for certain land & public improvements South Bend Redevelopment Authority South Bend Redevelopment Commission

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agreements permitted pursuant to Section 13 hereof, (c) utility, access and other easements and rights-of-way, restrictions and exceptions that Lessee certifies will not interfere with or impair the Project, (d) any mechanics' , laborers' , materialmen's, suppliers ' or vendors' lien or right in respect thereof if payment is not yet due and payable and (e) such minor defects, irregularities, encumbrances, easements, rights-of-way and clouds on title as do not, in the opinion of the Trustee, materially impair the Authority's title or Lessee's use of the Project. "Project" means the real estate (including all right-of-way easements contained therein) in St Joseph County, Indiana, and improvements to be made thereon by the Authority or its agent according to plans and specifications prepared by Cole Associates, Inc. and Clyde E. Williams and Associates, Inc. , project engineers, all as described in Exhibit B hereto. The above mentioned plans and specifications may be changed and additional construction work may be performed and improvements may be purchased by the Authority, but only with the approval of the Lessee, and only if such changes or modifications or additional construction work or improvements do not alter the character of the Project or reduce the value thereof. Any such additional construction work or additional improvements shall be part of the property covered by this Lease. The above-mentioned plans and specifications have been filed with and approved by the Lessee. "Redevelopment District Bond Fund" means the Redevelopment District Bond Fund of Lessee authorized by Indiana Code 36-7-14-27 and the Lease Resolution. "Trust Agreement" means the Trust Agreement dated as of , 1990, between the Authority and the Trustee, securing the Bonds. "Trustee" means , Indiana, as Trustee pursuant to the Trust Agreement, and any successor trustee. Any term not defined herein, which is defined in the Lease Resolution or in the Trust Agreement, shall have the meaning as defined in such resolution or agreement. Section 2. Lease of Project. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Project: TO HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee for a term of twenty-two (22) years, beginning on the date the Project is complete and ready for use, and ending on the day prior to such date twenty-two (22) years thereafter. However, the term -2- \rlhill\sthbnd\airport\lease;dsl;August 30, 1990