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Authorizing Assignment Interests of max Koenig and Irving Rosenberg $350,000 Economic Development Revenue Bond to Memorial Health Properties
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Authorizing Assignment Interests of max Koenig and Irving Rosenberg $350,000 Economic Development Revenue Bond to Memorial Health Properties
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4/18/2013 9:22:53 AM
Creation date
4/18/2013 9:09:23 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
1/23/1984
Ord-Res Number
7290-84
Bill Number
3-84
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ASSIGNMENT AND ASSUMPTION <br />OF <br />LEASE AND TRUST INDENTURE <br />This Assignment and Assumption of Lease and Trust;Indenture <br />entered into this 3rd day of February, 1984, by and between MAX <br />KOENIG and IRVING ROSENBERG, Assignees of Michiana Wholesale, Inc., <br />as "Grantors ", and MEMORIAL HEALTH PROPERTIES, INC., an Indiana <br />corporation, as "Grantee ", <br />W I T N E S S E T H: <br />WHEREAS, on the lst day of September, 1976, the City of <br />South Bend, Indiana, the South Bend Economic Development Commission, <br />Michiana Wholesale, Inc., an Indiana corporation, and-The National <br />Bank and Trust Company, of South Bend, Indiana, entered into a <br />"Lease and Trust Indenture ", hereinafter referred to as "Lease ", <br />dealing with a bond issue in the principal amount of $350,000, pay- <br />able in monthly installments over a period of fifteen (15) years from <br />revenues derived from real estate described in Exhibit A, herewith <br />attached; and <br />WHEREAS, subsequent to the execution of said Lease, Michiana <br />Wholesale, Inc., as Lessee, for good and valuable consideration, sold, <br />assigned and transferred all of its right, title and interest in and <br />to said Lease to Grantors; and <br />WHEREAS, Grantors now propose to sell, transfer and assign all <br />of their right, title and interest in and to said Lease and Trust <br />Indenture to Memorial Health Properties, Inc., an Indiana corporation; <br />and <br />WHEREAS, the sale, assignment and transfer of Grantors' <br />interest to Memorial Health Properties, Inc. is in the best economic <br />interest of the City of South Bend and the future utilization of said <br />real estate; and , <br />
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