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No. 2387 approving a proposed Lease between the Redevelopment Authority, as Lessor, and the Recevelopment Commission, as Lessee, for certain land and public improvements, approving preliminary plans, specificatiosn and cost estimates, setting a public he
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No. 2387 approving a proposed Lease between the Redevelopment Authority, as Lessor, and the Recevelopment Commission, as Lessee, for certain land and public improvements, approving preliminary plans, specificatiosn and cost estimates, setting a public he
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LEASE <br />This Lease entered into as of the 15~h day of October, 2007, between the SOUTH <br />BEND REDEVELOPMENT AUTHORITY, a body corporate and politic organized and existing <br />under Indiana Code 36-7-14.5 (the "Authority") and the SOUTH BEND REDEVELOPMENT <br />COMMISSION, the governing body of the City of South Bend Department of Redevelopment <br />and the Redevelopment District of the City of South Bend, Indiana (the "Lessee"), acting for and <br />on behalf of the City of South Bend, Indiana. <br />WITNESSETH: <br />Section 1. Definitions. The terms defined in this Section 1 shall for all purposes <br />of this Lease have the meanings herein specified unless the context otherwise requires. <br />"Act" means Indiana Code 36-7-14.5, as the same from time to time may <br />be amended or supplemented. <br />"Authority" means the South Bend Redevelopment Authority, a body <br />corporate and politic organized and existing under the Act, or if said Authority shall be <br />abolished, the authority, board, body, instrumentality or agency succeeding to the <br />principal functions thereof. <br />"Bonds" means South Bend Redevelopment Authority Lease Rental <br />Revenue Bonds (Eddy Street Commons Pmject). <br />"Eddy Street Commons Principal and Interest Account" means the <br />account by that name created in the Redevelopment District Bond Fund by the Lease <br />Resolution. <br />"Lease" means this Lease as the same may be amended, modified or <br />supplemented by any amendments or modifications hereof or supplements hereto entered <br />into in accordance with the provisions hereof. <br />"Lessee" means the South Bend Redevelopment Commission, the <br />governing body of the City of South Bend Department of Redevelopment and the <br />Redevelopment District of the City of South Bend, Indiana, or if said Commission shall <br />be abolished, the commission, board, body or agency succeeding to the principal <br />functions thereof. <br />"Lease Resolution" means the resolution of the Commission passed on <br />2007, establishing funds for the payment of lease rentals. <br />"Permitted Encumbrances" means those items listed in Exhibit A hereto <br />and any future (a) liens for taxes not then delinquent, (b) this Lease and the Trust <br />Agreement, leases, subleases and other agreements permitted pursuant to Section 13 <br />hereof, (c) utility, access and other easements and rights-of--way, restrictions and <br />exceptions that Lessee certifies will not interfere with or impair the Project, (d) any <br />mechanics', laborers', materialmen's, suppliers' or vendors' lien or right in respect thereof <br />BDDBO l 4905105v l <br />
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