1990-12-21 Resolution 28 - Laserfiche WebLink

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jL 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 C 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. "Trust Agreements" means, collectively, the Trust Agreement {Tax-Exempt Improvements) and the Trust Agreement (Taxable Improvements) as defined herein. "Trust Agreement (Taxable Improvements)" ,means the Trust. Agreement dated as of December 1, 1990., between the Authority and the Trustee; securing the Taxable Bonds., as defined herein.. "Trust Agreement (Tax-Exempt Improvements)" means the Trust Agreement dated as of December 1, 1990, between the Authority and the Trustee, securing the Tax-Exempt Bonds, as defined herein. ~ "Trustee" means Society Bank, 202 South Michigan Street, South Bend., Indiana 4.6601, 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 Proj ect. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Projects: 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., each beginning on the dates. the. Tax-Exempt Project or the Taxable Project are complete and ready for use, and ending on the day prior to such dates twenty-two (22) years thereafter. However, the term of this Lease shall terminate as to either or both of the Projects at the earlier. of (a) the exercise of the option to purchase by Lessee and payment of the option price, or (b) the payment or defeasance of all obligations of Lessor incurred (i) to finance-the cost of the leased property, (ii) to refund such obligations, (iii) to refund such refunding obligations,. or (iv) to improve the leased property. The dates the Tax-Exempt Project and the Taxable Project are complete and ready for use shall be endorsed on this Lease at the -3- \rlhill\sthbnd\airport\Seneral\lease.amd;tmg;12-21-90;9:OOe.m.