Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.

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�D 0 • • The sum of $1.00 for the Project. Section 11.2. 2tion and Cbli ation to Purchase Project in Certain Events. T e Lessee s all al so nave, an is hereby granted, the option, and obligation in the case of subsection (d) hereof, to purchase the Project prior to the full payment of all of the Bonds (or provisions for payment thereof having been made in accordance with provisions of the Indenture), if any of the following shall have occurred: (a) The Project shall have been damaged or destroyed as set forth in Section 7.1 hereof (i) to such extent that, in the opinion of the Lessee, it or they cannot be reasonably restored with a period of six (6) consecu- tive months to the condition thereof immediately preceding such damage or destruction, or (ii) to such extent that, in the opinion of the Lessee, the Lessee is thereby prevented from carrying on its normal operations for a period of six (6) consecutive months,. or (iii) to such extent that the cost of restoration thereof would exceed by more than $100,000 the Net Proceeds of insurance carried thereon pursuant to the requirements of Section 6.3 hereof. (b) Title to, or the temporary use of, all or substantially all the Project shall have been taken under the exercise of the power of eminent domain by any governmental authority, or person, firm or cor- poration acting under governmental authority (including such a taking or takings as results, in the opinion of an Independent Engineer as expressed in a certificate filed with the Lessor and the Trustee, in the Lessee being thereby prevented from carrying on its normal operations therein for a period of at least six (6) consecutive months). (c) As a result of any changes in the Constitu- tion of Indiana or the Constitution of the United States of America, or of legislative or administrative action (whether state or federal), or by final decree, judgment or order of any court or administrative body (whether state or federal) entered after the contest thereof by the Lessee in good faith, this Lease shall have become void or unenforceable or impossible of performance in accordance with the intent and purpose of the parties as expressed in this agreement, or unreasonable burdens or excessive liabilities shall have been imposed on the Lessor or the Lessee including without limitation federal, state or other ad valorem, property, income or other taxes not being imposed on the date of this Lease. .,ova 299 ;, : 247 XI-2