1994-06-07 Resolution 92 - Laserfiche WebLink

Home Browse Search

"Redevelopment District Bond Fund" means the Redevelopment District Bond Fund of the Lessee authorized by Indiana Code 36-7-14-27 and the Century Center Portion Lease Resolution and the Hall of Fame Portion Lease Resolution. "Trust Agreements" means the trust agreements between the Authority and the Trustee, securing the Bonds. "Trustee" means Norwest Bank Indiana, N.A., South Bend, Indiana, as trustee pursuant to the Trust Agreements, and any successor trustee. 2. Section 2 of the Lease is amended to read as follows: Section 2. Lease of Project. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Project: TO HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances thereunto belonging, unto the Lessee. The term of this Lease shall not exceed twenty-four (24) years, beginning with respect to the Century Center Portion on the date the Century Center Portion is complete and ready for use, and ending on the day prior to such date at most twenty- . four (24) years thereafter, and beginning with respect to the Hall of Fame Portion on the date that the Hall of Fame Portion is complete and ready for use, and ending on the day prior to such date at most twenty-four (24) years thereafter. However, the term of this Lease shall terminate as to either or both of the Hall of Fame Portion or the Century Center Portion of the Project 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. The dates that each of the Century Center Portion and the Hall of Fame Portion are complete and ready for use shall be endorsed on this Lease at the end hereof by the parties hereto as soon as the same can be done after such completion dates and such endorsements shall be recorded as addenda to this Lease. The Authority hereby represents that it is possessed of, or will acquire, a good and indefeasible estate in fee simple or an insurable right-of-way easement subject only to Permitted Encumbrances, to the above-described real estate, and the Authority warrants and will defend the same against all claims whatsoever not suffered or caused by the acts or omissions of the Lessee. U -2-