1988-06-17 Resolution 7 - Laserfiche WebLink

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in the opinion of counsel satisfactory to Trustee, materially impair the Authority's title or Lessee's use of the Facility. "Redevelopment District Bond Fund" means the Redevelopment District Bond Fund of Lessee. "Stadium Principal and Interest.Accoun~riC~aBondhFundcbyntheY that name created in the Redevelopment Dis Lease Resolution. "Trust Agreement" means the TrustdA~heeTrusteetesecuring the June 1,.1988 between the. Authority an Bonds. "Trustee" means First IaseTrusteeBpursuantotohthe Trustna, N.A., South Bend, Indiana, 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 Facility•,ons hereinespecified the rentals and other terms and conditi. Authority does hereby lease, demise and let to the Lessee the Facility: TO HAVE AND TO HOLD the same with all rights, unto privileges, easements and appurtenances thereunto belonging the Lessee for a term of nine and one-half (9-1/2).years being isition on September 1, 1988, the date of~the acqu' beginning the Authority, and ending on March 1, 1998 of the Facility by However, the term of this Lease shall terminatLesseehandapaymentf (a) the exercise of the option to purchase by of the option price, or (b) the payment or defeasance of all to finance the cost of the obligations of Lessor incurred (i) (iii) to refund leased property, (ii) to refund such obligations, obligations, or (iv) to improve the leased such refunding ossessed property. The AuthoratyohGrand indefeasiblehestatelinpfee simple of, or will acquire, g to the above-described .subject only to Permitted Encumbrances, real estate, and the Authority warrants and will defend the acts against all claims whatsoever not suffered or caused by or omissions of the Lessee. a During the term of this Section 3. Ren~Payments.rental for said premises at the Lease, the Lessee agrees to PaY 000,000) per year. Such Rental rate of One Million Dollars ($1, shall be paid from the Stadium Principal and Interest ableuunder the Redevelopment District Bond Fuada toltheeTrusteeaor to such the terms of this Lease shall be p other bank or trust company as may from time to time succeed the Trustee under the Trust Agreement. All payments so madeasable be considered as payments to the Authority of the rentals p Y -2-