1993-07-08 Resolution 78 - Laserfiche WebLink

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ADDENDUM TO LEASE Addendum to Lease Between South Bend Redevelopment Authority, as Lessor, and South Bend Redevelopment Commission, as Lessee (Airport Economic Development Area Public Improvement Project) THIS ADDENDUM, entered .into as of the 9th day of .July, 1993 (the "Addendum"), between the South Bend Redevelopment Authority, a body corporate and politic organized and existing under IC 36-7-14.5 (the "Authority"), and the 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 Authority and the Lessee dated as of August 1, 1990, and as amended by the Addendum to Lease enter1991ntbothtofewhich Authority and Lessee dated as of January 29, , were recorded in the office of the Recorder of St. Joseph County, Indiana, (recording numbers 9102772 and 9102773 resp shalllbe (hereinafter collectively referred to as the "Lease"), amended as follows: 1. Section 4(b) of the Lease is amended to read as follows: (b) Taxable Project. The first semiannual rental installment in the amount of One Hundred Forty-Two Thousand and 00/100 Dollars ($142,000) shall be due on January 28, 1994. Thereafter such rentals shall be payable in advance in semiannual installments on January 28 and July 28 of each year as provided for in the lease payment schedule attached hereto as Exhibit E. In the case of the Tax-Exempt Project, the Lessee will not take any action or fail to take any action that would result in the loss of the exclusion from gross income for federal tax purposes of interest on the Bonds pursuant to Section 103(a) as tin Internal Revenue Code of 1986, as amended (the "Code"), effect on the date of delivery of the Bonds, nor will the Lessee act in any manner which would adversely affect such exclusion. The Lessee further covenants that it will no er iod thatlany tBond is do any other act or thing during the P Bond to be an outstanding hereunder which would cause any "arbitrage bond" within the meaning of Section 148 of the Code and the regulations thereunder as in effect on the date of delivery of the Bonds. All officers, members, employees and agents of the Lessee are authorized and directed to provide certifications of facts and est the Lesseeaas of the datelthe Bonds are issuedaand expectations of