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Approving a Lease for the St Joseph/Wayne Parking Facility
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Approving a Lease for the St Joseph/Wayne Parking Facility
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Last modified
11/28/2012 1:52:19 PM
Creation date
11/28/2012 1:52:12 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/23/1988
Ord-Res Number
7875-88
Bill Number
28-88
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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 (Parking Garage Facility) . <br /> "Facility"means the real estate in South Bend, Indiana, <br /> described in Exhibit A hereto, and a parking garage facility (the <br /> "Garage") to be erected thereon by the Authority according to <br /> plans and specifications prepared for the Authority by <br /> , project architects of , <br /> Indiana. The above-mentioned plans and specifications may be <br /> changed, additional construction work may be performed and <br /> equipment may be purchased by the Authority, but only with the <br /> approval of the Lessee, and only if such changes or <br /> modifications, additional construction work or equipment do not <br /> alter the character of the Building or reduce the value thereof. <br /> Any such additional construction work or additional equipment <br /> shall be part of the property covered by this Lease. The above- <br /> mentioned plans have been filed with and approved by the Lessee. <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 />
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