1992-10-02 Resolution 69 - Laserfiche WebLink

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discretion, grant, and the title defects which are the subject. of such exceptions are deemed by the Redevelopment in its sole • discretion to materially impair the intended use and occupancy of-the Airport Land or which materially impair the marketability of title of the Airport Land then Redevelopment shall have the right, within ten (10) days thereafter, to give written notice to Airport that Redevelopment waives such title defects or objections and elects to proceed to acquire the Airport Land without any abatement of the Purchase Price and to take title to the Airport Land subject to such defects or objections.; otherwise, this Agreement shall be automatically cancelled and. rescinded and the rights and obligations of the parties hereto shall thereupon cease. 4. RESTRICTIONS UPON USE OF AIRPORT LAND (a) Agreements of Redevelopment. In order to protect and provide for the future expansion, growth and development of the Michiana Regional Airport, which borders the Airport Land, Redevelopment agrees and the Deed shall state that Redevelopment and its successors and assigns shall: 1. Devote the Airport Land only to use for the operation of a public golf course, or other recreational use as may be approved by the Airport, in writing. 2. Unless otherwise approved in writing by Airpart, at no time use or suffer the use of any or all of the Airport Land be used for commercial, residential, office, industrial, or other similar use. 3. At no time construct, erect, or suffer, any structure on the Airport Land in excess of feet in height. In addition, Redevelopment agrees and the Deed shall state that: 1. The provisions of Indiana Code 34-1-52-5 shall be applicable to the Airport Land conveyed to Redevelopment herein and that Redevelopment, its successors and assigns shall not initiate or support action in any court or before any governmental agency if the purpose of the action is to claim or allege that the public uss airport operations or any of the operations or any of the operation's appurtenances are a private use or a public nuisance: Provided, however, that this prohibition shall be effective only so long as the public use airport operations is operated in accordance. with the rules of the Indiana Department of Transportation, Division of Aeronautics, or its successor, and there is no significant change in the hours of operation of the public use airport operation, and the public use airport operations are not operated in a negligent manner. 2. That Redevelopment., its successor and assigns shall not initiate or support action in any court or before any governmental agency if the purpose. of such operation is to interfere with, restrict, or reduce. the operation of the Michiana -5-