02-09-15 Agenda, Packet and Committee Meeting Notice

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LEASE This Lease entered into as of the 1st day of February, 2015, between the SOUTH BEND REDEVELOPMENT AUTHORITY (the "Authority "), a body corporate and politic organized and existing under Indiana Code 36 -7 -14.5, and the CITY OF SOUTH BEND, INDIANA, REDEVELOPMENT COMMISSION (the "Commission "), the governing body of the City of South Bend, Indiana, Department of Redevelopment and the Redevelopment District of the City of South Bend, Indiana (the "Lessee "), acting for and on behalf of the City of South Bend, Indiana. WITNESSETH: Section 1. Definitions. The terms defined in this Section 1 shall for all purposes of this Lease have the meanings herein specified unless the context otherwise requires. "2015 Infrastructure Project Principal and Interest Account" means the account by that name created in the Redevelopment Bond Fund by the Lease Resolution. "Act" means Indiana Code 36 -7 -14.5, as the same from time to time may be amended or supplemented. "Authority" means the South Bend Redevelopment Authority, a body corporate and politic organized and existing under the Act, or if said Authority shall be abolished, the authority, board, body, instrumentality or agency succeeding to the principal functions thereof. "Bonds" means South Bend Redevelopment Authority Lease Rental Revenue Bonds, Series 2015. "Lease" means this Lease as the same may be amended, modified or supplemented by any amendments or modifications hereof or supplements hereto entered into in accordance with the provisions hereof. "Lessee" means the City of South Bend, Indiana, Redevelopment Commission, the governing body of the South Bend Department of Redevelopment and the Redevelopment District of the City of South Bend, Indiana, or if said Commission shall be abolished, the commission, board, body or agency succeeding to the principal functions thereof. "Lease Resolution" means the resolution of the Commission passed on 2015, establishing funds for the payment of lease rentals. "Permitted Encumbrances" means those items listed in Exhibit A hereto and any future (a) liens for taxes not then delinquent, (b) this Lease and the Trust Agreement, leases, subleases and other agreements permitted pursuant to Section 13 hereof, (c) utility, access and other easements and rights -of -way, restrictions and exceptions that Lessee certifies will not interfere with or impair the Project, (d) any mechanics', laborers', materialmen's, suppliers' or vendors' lien or right in respect thereof if payment is not yet due and payable and (e) such minor US.55393881.03