1991-11-15 Resolution 46 - Laserfiche WebLink

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~~ w FORM OF ADDENDUM TO LEASE Addendum to Lease Between South Bend Redevelopment Authority, as Lessor, and South Bend Redevelopment Commission, as Lessee (Stadium Facility) THIS ADDENDUM, entered into as of the lst day of November, 1991 (the."Addendum"), between South Bend Redevelopment Authority, a body corporate and politic organized and existing under IC 36-7-14.5 (the "Authority"), and South Bend Redevelopment Commission (the "Lessee"), WITNESSETH- In consideration of the mutual covenants herein contained, it is agreed that the lease previously entered into between the Lessee as of June 1, 1988 and which was recorded in the office of the Recorder of St. Joseph County, Indiana (the "Lease"), shall be amended as follows: follows: 1. Section 3 of the Lease is amended to read as Section 3. Rental Payments. (a) During the term of this Lease, .the Lessee agrees to pay rental for said premises at the total yearly rate provided for in the total yearly rental amount schedule attached hereto as Exhibit C. Such rental shall be paid from the Stadium Principal and Interest Account of the Redevelopment District Bond Fund. All rentals payable under the terms of this Lease shall be paid to the Trustee or to such other bank or trust company as may from time to time succeed the Trustee under. the Trust Agreement. All payments so made shall be considered. as payments to the Authority of the rental payable hereunder. The Lessee shall receive a credit on such rental payment in an amount equal to the amount then in the South Bend Redevelopment Authority Stadium Facility Sinking Fund created by Section 3.01 of the Trust Agreement. The Lessee shall also receive credit for any Bond maturing within seven (7) days of the date of -the lease rental payment. (b) As additional rental included in the amounts listed in Exhibit C, the Lessee agrees to pay all fees, charges and reimbursement of expenses of the Trustee under the Trust Agreement and all prudent charges and expenses of the Authority incurred in the performance of its obligations hereunder. follows: 2. Section 4 of the Lease is amended to read as Section 4. Rental Payment Dates. The first- rental installment in the amount of Four Hundred Sixty-Four Thousand Six Hundred Dollars ($464,600) shall be due on February 28, 1992. • Thereafter such rentals shall be payable in advance in semiannual installments on February 28 and August 28 of each year as provided for in the lease payment schedule attached hereto as Exhibit D.