6. C (3) Agreement for Services with Downtown South Bend

Home Browse Search

covenants and agreements of this Agreement, including the agreement to deliver possession for any reason herein provided; and all the parties to this Agreement agree that the covenants and agreements herein contained shall be binding upon, apply and inure to their respective heirs, executors, administrators, successors and assigns. 18. It is agreed that all payments herein provided to be made shall be made without relief from valuation or appraisement laws, and all payments required to be made which shall not be made at the time due shall bear interest at the rate of six percent (6 %) per annum from the date of delinquency. 19. That upon signing this Agreement, the Provider shall deliver to the South Bend Department of Redevelopment a Certificate of Public Liability Insurance naming the City of South Bend, the South Bend Department of Redevelopment and the South Bend Redevelopment Commission as additional insureds, against liability for injury to persons and /or persons occurring in or about the Parking Lot. Such insurance shall be kept in full force and effect during the term of this Agreement in an amount not less than $700,000 for any one person and not less than $5,000,000 for any one incident. 20. That property taxes assessed or levied against the Parking Lots, if any, shall be paid or discharged by the Provider. 21. That the Provider shall have the right to make any alterations necessary to improve the Parking Lots, for use as a surface parking lot, upon written approval by the Executive Director of the South Bend Department of Community and Economic Development. Said approval shall not be unreasonably withheld. 22. That this Agreement may be terminated by thirty (30) days advanced written notice of either party as follows: Redevelopment Commission 1200 County -City Building South Bend, Indiana 46601 Downtown South Bend c/o DTSB Board Chair 217 S. Michigan St. South Bend, Indiana 46601 23. That the Parking Lots leased hereunder shall not be sublet and/or assigned without the express, prior written approval of the Commission. Any provisions in any Agreement providing protection or benefit to the Provider shall provide the same protection or benefit to the Commission. 24. That any income received by the Provider from the operation of a Parking Lot or by subletting or assigning this Agreement shall be used for the purpose of paying costs associated with the operating and maintenance of said Parking Lot and for the following additional purposes: (i) Planning or managing development or improvement activities;