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NOW, THEREFORE, BE IT RESOLVED, that the South Bend <br />Economic Development Commission approve the request of.South Bend <br />Tool and Die Co., Inc. to assign, transfer and convev its <br />interest in the Project to Art Iron, Inc. with the understanding <br />that Art Iron, Inc. shall assume the obligations of the Developer <br />and shall become primarily liable for the obligations under the <br />Loan Agreement and the Indenture; and <br />BE IT FURTHER RESOLVED, that the South Bend Economic <br />Development Commission consents to the sale, assignment and <br />conveyance of <br />the <br />Project <br />from South Bend <br />Tool and Die Co., <br />Inc. <br />to Art Iron, <br />Inc. <br />with <br />the understanding <br />that Art Iron, <br />Inc. <br />shall assume the obligations of South Bend Tool and Die Co., Inc. <br />and the Guarantor under the Loan Agreement and Indenture of <br />Trust; and <br />BE IT FURTHER RESOLVED, that the Mayor and City Clerk <br />are authorized to execute all documents necessary to consummate <br />the assignments and conveyances described herein, including the <br />First Amendment to Lease Agreement and the First Amendment of <br />Indenture of Trust. <br />DATED THIS 2nd day of December, 1983. <br />SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION <br />By <br />Jerry Hammes, President <br />By <br />Walter M. Szymkowiak, Vice President <br />By <br />Walter A. Mucha, Secretary <br />-2- <br />