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PARKER, BRUNNER & HAMILTON <br />ATTORNEYS AT LAW <br />1100 HAZLITT BUILDING <br />ROBERT M. PARKER 120 WEST LASALLE AVENUE <br />THOMAS J. BRUNNER, JR. TELEPHONE <br />JOHN C. HAMILTON SOUTH BEND, INDIANA 46601 <219> 234 -4149 <br />TIMOTHY J. HARTZER <br />April 4, 1984 <br />Members of the South Bend <br />Common Council <br />County -City Building <br />South Bend, Indiana 46601 <br />Re: Proposed Ordinance authorizing the assignment of the <br />interest of Bath, Van Mele and Associates, Inc. successor <br />to Bath Insurance Agency, Inc. <br />Dear Councilmen: <br />The South Bend Economic Development Commission issued Industrial <br />Revenue Bonds to Bath Insurance Agency, Inc. and executed documents <br />entitled Lease and Trust Indenture on March 30, 1979. On February 25, <br />1982 the name of Bath Insurance Agency, Inc. was duly changed to Bath, <br />Van Mele and Associates, Inc. The amount of the Bond issued was for <br />$700,000.00, which Bond is current in its payments and with an unpaid <br />balance of $573,099.73. <br />It is the intent of this Ordinance to assign the right, title, interest, <br />duties and liabilities of Bath, Van Mele and Associates, Inc. under <br />the Trust Indenture to Van Mele Realty Trust. The assignor will <br />remain liable on this obligation if the assignment is approved. <br />The Assignee, who was not a party to the original 1979 Bond issue, <br />will continue to maintain and operate the office building located <br />on the southwest corner of Jefferson Boulevard and Eddy Street in <br />South Bend, Indiana and to lease space to tenants therein, this being <br />the facility which was purchased by the 1979 Economic Development <br />Revenue Bond. <br />Respectfully, <br />Bert .�rker <br />RMP:ms <br />