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Approving a Lease for the Stanley Coveleski Regional Stadium
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Approving a Lease for the Stanley Coveleski Regional Stadium
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11/28/2012 1:17:20 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/9/1988
Ord-Res Number
7873-88
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• <br /> LEASE <br /> This Lease entered into as of the first day of June, 1988 <br /> between SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and <br /> politic organized and existing under Indiana Code 36-7-14.5 (the <br /> "Authority") and SOUTH BEND REDEVELOPMENT COMMISSION (the <br /> "Lessee") . <br /> WITNESSETH: <br /> Section 1. Definitions. The terms defined in this Section 1 <br /> shall for all purposes of this Lease have the meanings herein <br /> specified unless the context otherwise requires. <br /> "Act" means Indiana Code 36-7-14.5, as the same from time to <br /> time may be amended or supplemented. <br /> "Authority" means the South Bend Redevelopment Authority, a <br /> body corporate and politic organized and existing under Indiana <br /> Code 36-7-14.5. <br /> "Bonds" means South Bend Redevelopment Authority Lease Rental <br /> Revenue Bonds (Stadium Facility) . <br /> "Facility" means the real estate in South Bend, Indiana <br /> described in Exhibit A hereto and the stadium thereon more <br /> commonly known as the Stanley Coveleski Regional Stadium. <br /> "Lease" means this Lease as the same may be amended, modified <br /> or supplemented by any amendments or modifications hereof and <br /> supplements hereto entered into in accordance with the provisions <br /> hereof. <br /> "Lessee" means the South Bend Redevelopment Commission or if <br /> said commission shall be abolished the commission, board, body or <br /> agency succeeding to the principal functions thereof. <br /> "Lease Resolution" means the resolution of the Authority <br /> passed on , 1988, authorizing the execution of the <br /> Lease. <br /> "Permitted Encumbrances" means those items listed in <br /> Exhibit B hereto and any future (a) liens for taxes not then <br /> delinquent, (b) this Lease and the Trust Agreement, leases, <br /> subleases and other agreements permitted pursuant to Section 13 <br /> hereof, (c) utility; access and other easements and rights-of- <br /> way, restrictions and exceptions that the Lessee certifies will <br /> not interfere with or impair the Facility, (d) any mechanics' , <br /> laborers' , materialmen's, suppliers' or vendors' lien or right in <br /> respect thereof if payment is not yet due and payable and (e) <br /> such minor defects, irregularities, encumbrances, easements, <br /> rights-of-way and clouds on title as normally exist with respect <br />
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