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1/13/2014 12:24:34 PM
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12/10/2013 9:52:53 AM
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AGREEMENT FOR EASEMENT <br />THIS AGREEMENT, made as of January 2, 2014 by and between the City of South <br />Bend, Indiana by and through its Board of Public Works (the "Board ") and Curtis Products, Inc., <br />an Indiana Corporation with offices located in South Bend, Indiana ( "Curtis ") (individually, <br />"Party" or collectively "Parties "). <br />BACKGROUND <br />A. Curtis is purchasing a parcel of land (the "City Parcel ") in the City of South Bend, <br />St. Joseph County, Indiana, the legal description of which appears on Exhibit "A" hereto; and <br />B. An Electric Substation and associated conduit is owned by the Board and is <br />depicted on Exhibit `B" (collectively "Electric Substation "). The Electric Substation provides <br />electrical service to the City Parcel. <br />C. Curtis desires to obtain an access easement to the Electric Substation in order to <br />insure the continuous supply of electricity to the City Parcel. <br />D. The Board is willing to provide Lessee the easement requested pursuant to the <br />terms and conditions provided herein. <br />NOW, THEREFORE, in consideration of the mutual covenants and conditions contained <br />herein, the parties hereto agree as follows: <br />1. Incorporation of Background. The allegations contained in the Background are <br />incorporated into the operative provisions of this Agreement as if fully set out herein. <br />2. Grant of Easement and Term. The Board hereby grants to Curtis an exclusive <br />easement for the purpose of accessing the Electric Substation to facilitate the continuous supply <br />of electrical power to the City Parcel, including but not limited to the installation, storage, <br />maintenance and removal of equipment related to providing electric power to the City Parcel . <br />The term of this easement shall begin after Curtis has supplied the Note and Letter of Credit, as <br />defined in that certain Contract for Purchase and Sale between Curtis and the South Bend <br />Redevelopment Commission (the "Commission "), to the Commission. After Curtis has paid the <br />principal and any other amounts due under the Note, the term of the easement shall become <br />perpetual and this easement shall be permanent. In the event Curtis shall fail to pay the principal <br />and any other amounts due under the Note to the Commission beyond any cure period provided <br />in the Note, the Board shall have the option to terminate the Easement upon written notice to <br />Curtis. In the event that Curtis determines the City Parcel no longer requires electrical power <br />from the Electric Substation, Curtis shall notify the Board in writing and this Easement shall <br />automatically terminate at that time. During the term of this Easement and subject to the Board's <br />retained rights, no person or entity other than Curtis shall be afforded access to the Electric <br />Substation by the Board. Following any termination of this Easement, the Parties agree to <br />cooperate in good faith and execute any documents necessary to remove or otherwise correct <br />references to the Easement in the relevant land records. <br />
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