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WHEREAS, F Cubed desires to locate at Ignition Park, a technology park under development in the City which is located in the Area; however, F Cubed anticipates being located for a period of time at innovation Park or temporarily located elsewhere on University property; and WHEREAS, the Commission has previously approved a form of Economic Development Memorandum of Upderstanding (the "MOU "), which MOU sets forth the understanding of the parties thereto regarding F Cubed relocating its South Bend Operations to Ignition Park upon completion of the same and upon lease terms reasonably acceptable to F Cubed, and the Commission undertaking certain actions necessary to provide certain economic incentives to F Cubed consisting of the acquisition of the Equipment as described in the MOU; and WHEREAS, the Commission will undertake a competitive bidding process to acquire the Equipment (the "Bidding Process "); and WHEREAS, following the Commission's acquisition of the Equipment, the Commission desires to dispose of the Equipment by lease pursuant to the provisions of Indiana Code 36- 7 -14 -22 in order to make the Equipment available for use in furtherance of the Plan; and WHEREAS, pursuant iollndiana Code 5- 22- 22- 1(cx4), the provisions of Indiana Code 5 -22 -22 do not apply to the disposal of personal property by a redevelopment commission established under the Act; and WHEREAS, Indiana Code 36 -7 -14 -12.2 allows a redevelopment commission established under the Act to acquire by purchase any personal property needed for the redevelopment of areas needing redevelopment that are located within the corporate boundaries of the unit, and lease or otherwise dispose of such property on the terms and conditions that such redevelopment commission considers best for the unit and its inhabitants; and -2- DMS-US 51065232v2