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Council of the City, the documents approved by said Ordinance, the Act, and <br />the procedure established by the Act. <br />"Real Property" shall mean that property described in "Exhibit <br />A ", attached hereto and made a part hereof, together with all improvements <br />constructed prior to the project financed by the revenues from the sale of <br />the Bonds and existing thereon on the date of this Indenture, and all rights, <br />easements, and appurtenances therein and thereto, which real property is <br />owned by the City of South Bend, Indiana, for the use and benefit of. its Devel- <br />opment Commission. <br />"Facility" shall mean the addition to the nursing home to be constructed <br />on the Real Property by the Commission. <br />"Leased Premises" shall mean the Real Property and the Facility <br />to be constructed on the Real Property together with equipment, furnishings, <br />and fixtures of the Facility, being more particularly described and defined <br />by the plans and specifications approved by the parties. <br />"Lease" means the lease of the Leased Premises provided for in <br />a Lease Agreement executed by the Lessor and Lessee on , 1973, <br />and as from time to time amended or supplemented by agreement of the parties <br />as herein provided. <br />"Lease Term" means the duration of the leasehold estate in the Leased <br />Premises created by the Lease. <br />ARTICLE II. <br />Basic Terms <br />Section 2.1: The said City and the Commission have leased the above described <br />real estate to the Lessee, and the terms and conditions of said Lease are described <br />as a net net lease. The rents called for in said Lease shall be equal to the <br />total cost of amortizing the Six hundred thousand Dollars ($600,000.00) of <br />Bonds at the rate of seven and one -half percent (7.5%) per annum over the term <br />of said Lease of ten (10) years. The project calls for the construction and <br />equipping of the said Facility according to the plans and specifications submitted <br />by the Lessee and approved by the Commission. The proceeds of the sale of <br />the Bonds shall be held by the Trustee and shall be invested from time to time <br />as provided in this Indenture and distributed as directed by the Commission <br />for the purposes of paying for the construction and equipping of the said Leased <br />Premises. There shall be included in the disbursement of said funds all costs, <br />- 3 - <br />