No. 2251 accepting transfer of real property from the South Bend Redevelopment Authority

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• done after such completion dates and such endorsement shall be re:orded as an addendum to this Tease. The Authority hereby represents that it is possessed of, or will acquire, a gaud and indefeasible estate in fee simple or an insurable right-af-way easement subject only to Fermitted Encumbrances, to the above-described real estate, and the Authority warrants and will. defend the same against all claims whatsoever not suffered or caused by the acts ar omissions of the Lessee. 2. Section l4 of the Lease is amended by deleting the entire text b£ said 5ectiot~ 14 and substituting the €c.~llowing as the text of Section 14: • Section l4. Uption to Purchase. (a) Tax- Exempt Fraject. The Authority herek~y grants to the Lessee the right and option, on any rental, payment date, upon thirty day$' written notice tc~ the Authority, to purchase the Tax-Exempt F~oject at a price equal to the amount required to enable the Authority to provide €or the redemption of all outstanding T~;x-exempt Bonds, all premiums payable an the redemption thereof, and accrued ar~d unpaid interest thereon, and to pay the cost of redeeming the Tax-Exempt Bonds and liquidating the Authority if it is to be liquidated. zf the Lessee exercises it option to purchase the Tax--;~xemgt Project, the Lessee shall pay to the Trustee thact portion of the purchase puce which is required to provide far the payment o€ all Tax-Exempt Bonds, including all premiums payable an the redemption thereof, accrued and unpaid interest thereon and costs of redertptign thereof. Such payment shall not be made until the Trustee gives the Lessee a written statement that such amount will be sufficient t4 retire all Ta,x-Exempt Bonds including all premiums payable on the redemption thereof and accrued and unpaid interest. The remainder of such purchase price, if any, shall be paid by the Lessee to the Authority. (b) Taxable Project. The Authority hereby grants to the Lessee the right and option, an any rental payment date, upon thirty days` written notice to the Aut~cU"ity, to purchase all of a pant cf the Taxable Project. If the Lessee determines to purchase all of the Taxable Project, the purchase pricQ shall e+~~tal the amount required to e~-able tha Authority to provida far the • iedemptian o€ akl outstanding Tax-Exempt Bands, X11 prern~ums payable an the redemption thereof, and accrued and unpa~.d ~.nterest thereon, and to pay the cost of redeeming ehe Tax-E.xeiupt 3onds ann -2-