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HomeMy WebLinkAboutNo. 2246 approving a form of dev agreement with JF+A Properties,LTD/CII&P, County Mayo/SB LLC and related matters• RESOLUTION NO. d D I & A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING A FORM OF DEVELOPMENT AGREEMENT WITH JF +A PROPERTIES, LTD. /CII &P AND COUNTY MAYO /SB, LLC AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission ( "Commission ") is the governing body of the City of South Bend Department of Redevelopment established under the Redevelopment of Cities and Towns Act of 1953, as amended, being Indiana Code § 36- 7 -14 -1 et seq. (the "Act"); and WHEREAS, redevelopment and the stimulation of economic development are of benefit to the health and welfare of the people of Indiana and the citizens of the City of South Bend, Indiana (the "City "), are public uses and purposes for which public money may be spent and are a public utility and benefit; and WHEREAS, the Commission has the power and duty to investigate, study, and develop •areas within the corporate boundaries of the South Bend Redevelopment District (the "District ") that the Commission has determined to be blighted, stagnant or deteriorating in order to encourage economic development and redevelopment; and WHEREAS, the property commonly referred to as Lot 3A of the Blackthorn Corporate Office Park and more particularly described at Exhibit A (the "Site ") of the form of the Contract for Sale of Land for Private Development attached hereto as Attachment A (the "Purchase Contract") is located within the corporate boundaries of the City, the South Bend Redevelopment District (the "District "), and the Airport Economic Development Area (the "Area"), which Area has been previously designated by the Commission as an economic development area in accordance with the Act; and WHEREAS, the Commission has previously offered the Site for disposition in accordance with Indiana Code § 36-7 -14-22 and has awarded the development of the Site to JF +A Properties, Ltd. /CII &P (the "Developer ") pursuant to a bid submitted by the Developer in which the Developer proposed constructing, developing and equipping a hotel development project worth approximately Seventeen Million Dollars ($17,000,000) complimentary to the use of the Blackthorn Golf Course; and WHEREAS, Marathon Pipe Line LLC ( "MPL ") is the beneficiary of (i) that Right of Way Agreement granted 5/15/1957 and recorded 5/27/1957 in the St. Joseph County Recorders Office at Book 567, pages 113 -114, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office f as Record Number 9328170 (collectively, "Easement No. 1 "); (ii) that Right of Way Agreement granted 6/8/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 21, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328168 (collectively, "Easement No. 2 "); and (iii) that Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 19, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328169 (collectively, "Easement No. 3 "; and collectively with Easement No. 1 and Easement No. 2, the "Pipeline Easements "); and WHEREAS, it appears that the Site is subject to the Easement No. 2 and Easement No. 3 and provides MPL an easement of thirty (30) feet on either side of the centerline of its current pipeline for a total of sixty (60) feet; and WHEREAS, MPL has withheld its approval of the portion of the Project subject to Easement No. 2 and Easement No. 3 pending the execution of a Development Agreement with the South Bend Redevelopment Authority (the "Authority "), the South Bend Redevelopment Commission and the Developer and the settlement of other disputes MPL contends that is has with the Authority; and WHEREAS, MPL, the Developer and the Authority represent that it has agreed to the terms of a Settlement Agreement and Release (the "Settlement Agreement ") which provides for MPL to approve the portion of the Project subject to Easements No. 2 and Easement No. 3; and WHEREAS the Developer has represented to the Commission that he is prepared to P P P p proceed with the Project and to negotiate, finalize and execute the Purchase Contract; and WHEREAS, the Commission previously has authorized the construction of certain utility improvements, including the relocation of a water line and a sewer line (the "Utility Improvements "), along with the relocation of a cart path and a water line for the golf course sprinkling systems (the "Additional Improvements" and with the Utility Improvements, the "Site Improvements "); and WHEREAS, the Board of Public Works of the City of South Bend (the "Board ") has awarded a bid for the Site Improvements subject to the Developer's execution of a Purchase Contract with the Commission; provided that the Board is able to issue a notice to proceed in accordance with the Indiana Code § 36 -1 -12; and WHEREAS, the Commission desires to approve the form of the Purchase Contract and the documents contained or contemplated therein, including but not limited to a Utility Easement, a Deed and the other certificates and agreements attached thereto or contemplated therein (collectively, the "Purchase Documents ") and to authorize the President of the Commission (the "President ") or the Vice - President of the Commission (the "Vice- President ") to 2 F: IDATAISHAREV egall WpdatalSEPlEconomic DevelopmentDIackthorn HotelWesolution Approving Form Of Blackthorn Hotel Development Agreement.Doc execute, and the Vice - President or Secretary of the Commission (the "Secretary ") to attest, the Development Documents, with such changes as such executing and attesting officers may approve upon the advice of legal counsel; and WHEREAS, the Commission further authorizes the Developer to execute the Purchase Contract in the form attached hereto as Attachment A with such changes approved by legal counsel for the limited purpose of acting as a guarantee for awarding of the contact for the Site Improvements, which guarantee, to become enforceable, shall be subject to the Commission's final approval and execution; NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Commission hereby approves the Purchase Documents in the form attached hereto as Attachment A, including the Purchase Contract, the Deed and the other certificates and agreements attached thereto or contemplated therein. 2. The Commission hereby authorizes legal counsel to negotiate the Purchase Documents with the Developer and to allow the Developer to execute the Purchase Contract as a guarantee for the Site Improvements, which Purchase Contract shall be enforceable only upon the Commission's execution of the Purchase Contract. 3. The Commission hereby authorizes the President or the Vice - President to execute, • and the Vice - President or Secretary to attest, the Purchase Documents with such changes either in form or in substance as such executing and attesting officers may approve upon the advice of legal counsel with such approval to be conclusively evidenced by such execution and attestation. 4. The staff is hereby authorized to administer the Purchase Documents, upon their execution, and the President, Vice - President, the Secretary, and the Director of Economic Development of the Department of Redevelopment are each authorized to execute any administrative certificates or documents related to the administration of the Purchase Documents on behalf of the Commission. 5. This Resolution shall be in full force and effect after its adoption by the South Bend Redevelopment Commission. 3 F: IDATAISHARE1LegallWpdatalSEPlEconomic DevelopmentWIackthorn HoteAResolution Approving Form Of Blackthorn Hotel Development Agreement.Doc • ADOPTED at a meeting of the South Bend Redevelopment Commission held on May 19, 2006 at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. South Bend Redevelopment Commission CITY OF SOUTH BEND, DEPARTMENT OF REDEVELOPMENT Signature Printed Name and We South Bend Redevelopment Commission 4 F. IDATA6SHAREILegallWpdataLSEPIEconomic DevelopmentWIackthorn HoteAResolution Approving Form Of Blackthorn Hotel Development Agreement.Doc ATTACHMENT A Form of Contract Sale of Land for Private Development • CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT THIS CONTRACT FOR SALE OF LAND FOR PRIVATE DEVELOPMENT (this or the "Agreement "), made on May 1, 2006, between JF +A PROPERTIES, LTD. /CII &P, a Sub -S Corporation organized under the laws of the State of Illinois and having its principal place of business at 272 E. Deerpath Road, Suite 244, Lake Forest, Illinois 60045 (the "General Manager "), on behalf of itself and COUNTY MAYO /SB, LLC, an Illinois limited liability Company (the "Company" and with the General Manager, the "Developer "), as its sole managing member and the SOUTH BEND REDEVELOPMENT COMMISSION, the governing body of the City of South Bend, Indiana, Department of Redevelopment, established and operating under Indiana Code § 36- 7 -14 -1 et seq., as amended (the "Act"), having its office at 1200 County -City Building, South Bend, Indiana (the "Commission"). RECITTALS: WHEREAS, the Commission has investigated areas within the corporate boundaries of the City of South Bend, Indiana (the "City ") and has prepared and approved the Airport Economic • Development Area Development Plan ( "Plan ") to develop the area known as the Airport Economic Development Area, a copy of which Plan and amendments thereto have been recorded in the St. Joseph County Recorder's Office; and WHEREAS, the Commission has offered to sell and the Developer is willing to buy the property described in Exhibit A of this Agreement (the "Property") to provide for the development of the Property accordance with the Plan, this Agreement, and the Site Plans (as defined herein) (the "Project "); and WHEREAS, the Commission believes that developing the Property in accordance with this Agreement is in the best interest of the health, safety and welfare of the City and its residents and complies with the public purposes and provisions of the Act and applicable federal, state and local laws under which the development has been undertaken and is being assisted; and WHEREAS, the Property is subject to certain easements of record, including but not limited to (i) a sewer, water and utility easement provided the City (the "Utility Easement ") and (ii) a certain Right of Way Agreement recorded at Deed Record 568, page 21, as amended by the Partial Release of Right of Way Agreement dated July 16, 1993, and recorded July 22, 1993 in the Office of the Recorder of St. Joseph County as Instrument No. 9328168, and a certain Right of Way Agreement recorded at Deed Record 568, page 19, as amended by the Partial Release of Right of Way Agreement dated July 16, 1993, and recorded July 22, 1993 in the Office of the Recorder of St. Joseph County as Instrument No. 9328169 (collectively, the "Marathon Easements "); and • WHEREAS, the Developer desires that a certain sewer line and a water line within the Utility Easement be relocated to provide for the development of the Project (the "Utility Improvements "); and WHEREAS, the Commission, in reliance upon the Developer's commitment to complete the Project, desires to complete the Utility Improvements and amend the Utility Easement consistent with the plans set forth at Exhibit B to provide for the development of the Project; and WHEREAS, the South Bend Redevelopment Authority (the "Authority ") currently owns the Property and has negotiated a Settlement Agreement and Release with Marathon, a copy of which is attached hereto as Exhibit F (the "Settlement Agreement "), which is in the process of being approved and executed by Marathon and the Authority; and WHEREAS, the Settlement Agreement provides for the execution of (i) the Easement Amendment with License (the `Basement Amendment "), a copy of which is set forth in the Settlement Agreement, which amends the Marathon Easements and (ii) a Development Agreement, a copy of which is set forth in Settlement Agreement, which provides certain terms and conditions by which improvements to the Project subject to the Marathon Easements may be constructed and operated (the "Development Agreement "); and WHEREAS, the Easement Amendment and the Development Agreement were negotiated with Marathon, with the advice and consent of the Developer, and the Development Agreement requires the execution of the Developer; and WHEREAS, the Development Agreement must be recorded prior to any work commencing on the Utility Improvements on the portion of the Property subject to the Marathon Easements, as amended by the Easement Amendment; and WHEREAS, the Developer desires to commit to (i) the completion of the Project and the purchase of the Property at this time to allow for the timely completion of the Utility Improvements and (ii) subject to the execution of the Settlement Agreement by the various parties, the execution of the Development Agreement; and WHEREAS, the Commission desires to replat and rezone a portion of the Property to clarify the Property's boundaries and encumbrances; and WHEREAS, the Commission and the Developer desires to have the Property transferred to the Company upon the completion of the replatting process and the fulfillment of the closing conditions set forth herein; NOW, THEREFORE, in consideration of the mutual promises and obligations in this Agreement, the parties agree as follows: • SECTION I. SALE, PURCHASE PRICE. . Subject to all of the terms of this Agreement, the Commission agrees to sell and the Developer agrees to purchase the Property for the sum of Three Hundred Thirty Nine Thousand Two Hundred and 00 /100 Dollars ($339,200.00) ( "Purchase Price "), to be paid in cash or by certified check when the deed conveying the Property to the Company is delivered to the Developer. SECTION II. CONVEYANCE OF PROPERTY. A. Form of Deed. Subject to the transfers of the Properly to the Commission and the terms of this Agreement, the Commission shall convey to the Developer title to the Property by quit claim deed in the form set forth at Exhibit C ( "Deed "). In addition to the other conditions, covenants and restrictions in this Agreement, such conveyance and title shall be subject to: 1. Building and use restrictions in the Plan (and its covenants) and this Agreement. 2. Applicable building codes and zoning ordinances. 3. Any and all other covenants, restrictions, easements and reservations of record. • 4. Declaration of Protective Covenants and Restrictions of the Blackthorn Corporate Center ( "Covenants "), dated as of the 19th day of March, 1993, and as amended from time to time, and the Blackthorn Corporate Center Development Guidelines ( "Guidelines "), dated as of the 19th day of March, 1993, and as amended from time to time. 5. An amended Utility Easement in the form set forth at Exhibit D. 6. Marathon Easements as amended by the Easement Amendment with License set forth at Exhibit F. 7. Development Agreement in the form set forth at Exhibit F. B. Time and Place of Closing on Sale of the Property. Subject to the terms and conditions of this Agreement, the Commission shall deliver the Deed and possession of the Property to the Developer on August 31, 2006 or earlier if the parties mutually agree in writing. Conveyance shall be made at the offices of City of South Bend Department of Redevelopment. Fees for closing services provided by the title company shall be borne by the Commission. The Developer shall accept the conveyance and pay the Purchase Price to the Commission at that time and place. Prior to closing and as a condition precedent thereto, Developer must execute the Development Agreement as set forth at Exhibit F and provide to the Commission evidence • satisfactory to the Commission of a binding commitment by a financial institution for financing of the Project. C. Apportionment of Current Taxes. The Commission shall bear the portion of the current taxes (if any) on the Property which are a lien on the date of delivery of the Deed to the Developer. D. Recordation of Deed. The Commission shall promptly record the Deed in the St. Joseph County Recorder's Office and shall pay the costs for recording the Deed. E. Title Insurance. The Commission shall furnish the Developer a title insurance policy which insures the Developer's title in a sum equal to the Purchase Price and subject only to those items provided for in the Agreement. F. Condition Precedent to Closing. Prior to, and as a condition precedent to closing, the Commission shall provide to Developer an ALTA Land Survey of the Property. SECTION 1II. FAITHFUL PERFORMANCE GUARANTEE A. Amount. At or prior to the time of executing this Agreement, the Developer shall deliver to the Commission a faithful Performance Guarantee ( "Deposit ") in a form satisfactory to the Commission in the amount of Thirty Three Thousand Nine Hundred Twenty and 00 /100 Dollars ($33,920.00) as security for performing its obligations under this Agreement. B. Retention by Commission. If before the issuance of a Certification of Completion as provided in Section VI of this Agreement, the Developer defaults in its obligations under this Agreement and fails to cure such defect as this Agreement provides, then the Commission may exercise any and all rights it may have pursuant to the Deposit without any reduction, offset, or recoupment, as liquidated damages. Exercise of these rights shall be in addition to any other remedies and shall not waive any other right under this Agreement or other laws. C. Return to Developer. Upon issuing the Certificate of Completion upon completion of redevelopment as required by this Agreement, the Commission shall return the Deposit to the Developer. SECTION IV. NATURE OF IMPROVEMENTS; TIME FOR COMMENCEMENT AND COMPLETION. A. Nature of Improvements. The construction of Project on the Property shall be substantially of the same size, scope and nature as that specified in the advertisement for bids and as proposed by the Developer in its bid to the Commission for disposition and development of the Property. In awarding the bid to the Developer, the Commission relied upon all representations, descriptions, discussions, drawings and other representations by the Developer of the Project. Those matters are incorporated into this Agreement by reference together with the bid packet of the Developer as well as the narrative description of the Project submitted with the bid, as amended and a copy of all of which are attached to this Agreement as Exhibit E (the "Site Plans "). B. Time for Construction. Construction of the Project on the Property shall begin within 60 days of the latter of: (i) the Closing Date or (ii) the completion of the Utility Improvements. The Project shall qualify for the award of a certificate of occupancy from the Building Commissioner of the City of South Bend, Indiana, within fifteen (15) months after commencement of construction. SECTION V. TIME FOR CERTAIN OTHER ACTIONS. A. Time for Submitting Plans for Design Development Review. The Developer shall submit for approval by the Department of Redevelopment the Site Plan, in final form, detailing building materials, construction, and landscaping which must be approved prior to the commencement of construction. The approved final Site Plan (the "Final Site Plan ") shall be recorded as an addendum to this Contract for Sale of Land in the form set forth at Exhibit E and serve the Commission in its determination that Developer has completed the Project and is entitled to the Certificate of Completion as provided in Section VI. B. Time for Submittiniz Financial Commitment. Prior to closing on the sale of the Property, the Developer shall submit to the Commission evidence satisfactory to the Commission of isbinding commitments for financing the Project. C. Time for Awarding of Utility Improvement. Prior to closing on the sale of the Property, the City shall award a contract for the Utility Improvements. SECTION VI. COMPLETION. A. Certificate of Completion. Promptly after the Developer completes the Project under this Agreement and in substantial accordance with the Final Site Plan, the Commission shall furnish the Developer with a Certificate of Completion. This Certificate shall be a conclusive determination of satisfaction and termination of all covenants, requirements, obligations and the like in the Agreement and Deed, except the covenants of Section VII of the Agreement and Section III of the Deed. After the issuance of the Certificate of Completion by the Commission, neither the Commission nor any other party shall thereafter have or be entitled to exercise any rights, remedies, or controls otherwise available with respect to the Property as a result of a default in or breach of any provisions of the Agreement or the Deed by the Developer or any successor in interest or assign, unless: a. the Developer, any lessee, or any other successor in interest or assign defaults or breaches the covenants of Section VII of the Agreement or Section III of the Deed, and b. the right, remedy or control relates to such default or breach. B. Form of Certification. Each Certification provided for in this Section shall be in such form as to be recordable in the St. Joseph County Recorder's Office. C. Refusal or Failure to Provide Certification. If the Commission refuses or fails to provide Certification within thirty (30) days after the Developer's written request, the Commission shall provide the Developer with a written statement indicating how the Developer failed to comply with the provisions of this Agreement and giving the measures necessary, in the Commission's opinion, for the Developer to take in order to obtain such certification. SECTION VII. RESTRICTIONS UPON USE OF PROPERTY. A. Agreements of Developer. The Developer agrees and the Deed shall state that the Developer and its successors and assigns shall: Devote the Property only to uses under the Plan; and 2. Not discriminate on the basis of race, color, creed, sex or national origin in the sale, lease, rental, use or occupancy of the Property. B. Enforceability of Covenants. The parties agree and the Deed shall expressly state that the covenants in this Section shall be covenants running with the land and, except only as otherwise specifically provided in the Agreement, shall be binding for the benefit of and shall be enforceable by: 1. the Commission; 2. its successors and assigns; 3. the City of South Bend; 4. any successors in interest to the Property. The covenants shall be enforceable against: the Developer; 2. its successors and assigns; 3. every successor in interest to the Property; and 4. any party in possession or occupancy of the Property. The parties further agree that the covenants in subsection VII(A)(1) shall remain in effect from the date of the Deed until December 31, 2015. The covenants in subsection VII(A)(2) shall remain in effect without limitation as to time but shall bind the Developer, each successor in interest to the Property, and each party in possession only for the time that the party or successor shall have title to, an interest in, or possession of the Property. The terms "uses specified in the Plan" and "land use" shall include the land and all buildings, housing and other requirements or restrictions of the Plan pertaining to such land uses and improvements to the Property. C. Beneficiaries of Covenants. The parties also agree that the Commission and its successors and assigns shall be deemed beneficiaries of the covenants in this Section. The Deed shall state that the covenants shall run in favor of the Commission for the entire period the covenants shall be in force and effect, regardless of whether the Commission has at any time been, or is the owner of any land or interest in any land in favor of which such covenants relate. If the above covenants are breached, the Commission shall have all of the rights and remedies to which they or any other beneficiary of the covenant may be entitled. SECTION VIII. PROHIBITIONS AGAINST ASSIGNMENT AND TRANSFER A. Representations as to Development. The Developer represents and agrees that its purchase of the Property and its other undertakings under this Agreement are and will be used for development of the Property and not for speculation in land holding. The Developer further recognizes that: 1. in view of the importance of the development of the Property to the general welfare of the City, 2. the substantial financial and other public assistance that has been made available by law and by the federal and local governments for the purpose of making such development possible, and 3. the fact that a transfer in ownership of the Developer is for practical purposes a transfer or disposition of the Property then owned by the Developer; the qualifications and identity of the Developer and its members, shareholders, and/or partners are of particular concern to the City and the Commission. The Developer further recognizes that it is due to such qualifications and identity that the Commission is entering into this Agreement with the Developer, and in so doing is further willing to accept and rely on the obligations of the Developer for the faithful performance of all undertakings and covenants. IsB. Prohibition Against Transfer of Interest. The Developer agrees that any transactions with respect to the equity of the Developer, including any increased capitalization, merger, transfer or transfers of ownership of the outstanding stock of the Developer, or otherwise, which results in the ownership by persons who are not presently members or shareholders of the Developer of 50% or more of the outstanding equity of the Developer at any time prior to the date of issuance of a Certificate of Completion, will constitute a violation of this Agreement unless the Commission has given prior written approval to such transfer or transfers, which approval will not be unreasonably withheld. C. Prohibition Against Transfer of Property or Assignment of Agreement. The Developer represents and agrees for itself, its successors and assigns, that except for security for obtaining financing needed to enable the Developer to make the improvements under this Agreement; and except for any other purpose authorized by this Agreement, the Developer has not made or will not make prior to receiving the Certificate of Completion: (a) any total or partial sale, assignment, conveyance, or lease; or (b) any trust or power; or (c) any transfer in any other mode or form, with respect to the Agreement or the Property or any part thereof, any interest therein; or (d) any contract or agreement to do any of the above without prior written approval of the Commission, which approval shall not be unreasonably withheld. D. Approval of Qualifications Prior to Transfer. The Commission may require as conditions precedent to any approval of transfer or assignment any and all information regarding the qualifications, financial responsibility, legal status, experience, background, and any and all other information it deems necessary or desirable in order to achieve and safeguard the purposes of the Act, the Plan, and this Agreement. E. No Transfer of Developer's Oblijzations. Absent specific written agreement by the Commission to the contrary, no transfer or approval by the Commission thereof shall relieve the Developer or any other party bound in any way by the Agreement or otherwise with respect to the construction of the improvements and completion of the Project from any of its obligations with respect thereto. F. Information as to Interest. The Developer agrees that during the period between execution of this Agreement and the Commission's issuance of the Certificate of Completion, the Developer will promptly notify the Commission of any and all changes in the ownership of stock or partnership interest, or any other act or transaction involving or resulting in any change in the ownership of such interest in the Developer or the relative distribution thereof, of which it or any of its officers have been notified or otherwise have knowledge or information, and which results in the ownership of 50% or more of all outstanding equity of the Developer by persons who are not presently shareholders or members of the Developer. 1 ] SECTION IX. MORTGAGE FINANCING; RIGHTS OF MORTGAGEES. A. Limitation Upon Encumbrance of Property. Prior to the Commission's issuing a Certificate of Completion, the Developer shall not: 1. engage in any transaction creating any encumbrance upon the Property, whether by express agreement or operation of law; or 2. allow any encumbrance to be made on the Property, except for obtaining funds needed to make the improvements constituting the Project. Before securing any financing by mortgage or similar lien instrument with regard to any part of the Property, the Developer shall notify the Commission. The Developer shall promptly notify the Commission of any encumbrance that has been attached to the Property, whether by the Developer's voluntary act or otherwise. For any mortgage financing made under this Agreement, the Property may, at the Developer's option, be divided into several parts if such subdivision: in the Commission's opinion is not inconsistent with the purpose of the Plan, the Project and this Agreement; and 2. is approved in advance in writing by the Commission. Any subdivision under this section must also be approved by any other local government agencies whose action is required for such subdivision under local or state law. B. Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this Agreement any mortgage holder authorized by the Agreement shall not be obligated by this Agreement to construct or complete the Project or to guarantee such construction or completion. No covenants or provisions in the Deed shall be construed so to obligate such holder unless the holder assumes ownership of the Project. Nothing in this Agreement shall be construed to permit or authorize any such holder to use the Property in any manner not provided for or permitted in the Plan or this Agreement or to construct any improvements other than those provided for or permitted in the Plan or this Agreement. C. Copy of Notice of Default to Mortgagee. _ Whenever the Commission delivers a notice or demand to the Developer with respect to any breach or default under this Agreement the Commission shall at the same time forward a copy of such notice or demand to each holder of any mortgage authorized by the Agreement at the last address of such holder as shown in the records of the Commission. • D. Mortga eeg 's Option to Cure Defaults. After any breach or default referred to in subsection C, above, each such holder shall have the right at its option: 1, to cure or remedy such breach or default to the extent that it relates to the part of the Property covered by its mortgage; and 2. to add the cost of doing so to the mortgage debt and the lien of its mortgage. Such holder shall not undertake or continue the construction beyond the extent necessary to conserve or protect those improvements or construction already made without first having expressly assumed the obligation to complete the construction on the property. This assumption shall be made by written agreement pursuant to terms and conditions satisfactory to the Commission. Any holder who properly completes the Project shall be entitled to request a Certificate of Completion under the same terms and conditions provided for the Developer under Section VI. E. Commission's Option to Payortgage Debt or Purchase Property. In any case, where after default or breach by the Developer or any successor in interest under the Agreement, any mortgage holder of any part of the Property: 1. has, but does not exercise, the option to complete the improvements relating to the part of the Property covered by its mortgage or for which it has obtained title, and such failure continues for a period of sixty (60) days after the holder has been notified or informed of the default or breach; or 2. begins construction but does not complete such construction within the period as agreed upon by the Commission and such holder (which period shall in any event be at least as long as the period prescribed for such construction or completion in the Agreement), and such default shall not have been cured within sixty (60) days after written demand by the Commission so to do, the Commission shall have the option of paying to the holder the amount of the mortgage debt and securing an assignment of the mortgage and the debt secured under it, and every mortgage instrument made prior to the Commission's issuance of a Certificate of Completion of construction with respect to the Property by the Developer or successor in interest shall so provide. In the event ownership of any part of the Property has vested in such holder by way of foreclosure or action in lieu of foreclosure, the Commission shall be entitled, at its option, to a conveyance of any part of the Property (as the case may be) upon delivering to such holder an amount equal to the sum of: i. the mortgage debt at the time of foreclosure or action in lieu of foreclosure, less all appropriate credits, including those resulting from collection and application of rentals and other income received during foreclosure proceedings; iii. all expense with respect to the foreclosure; iii. the net expense, if any, exclusive of general overhead, incurred by such holder in and as a direct result of the subsequent management of the Property; iv. the costs of any improvements made by such holder; and V. an amount equivalent to the interest that would have accrued on the aggregate of such amounts had all such amounts become part of the mortgage debt and such debt had continued in existence. F. Commission's Option to Cure Mortgage Default. Prior to the Commission's issuance of a Certificate of Completion, if the Developer or any successor in interest defaults or breaches any of its obligations under any mortgage or other instrument creating an encumbrance or lien upon any part of the Property, the Commission at its option may cure such default or breach. If this occurs, the Developer or successor in interest shall reimburse the Commission for all costs incurred by the Commission in curing such default or breach. Such reimbursement shall be in addition to and without limitation upon any other rights or remedies to which the Commission is entitled. Any such lien shall be subject always to the lien (including any lien contemplated, because of advances yet to be made) of any then existing mortgages on the Property authorized by the Agreement, including any lien contemplated, because of advances yet to be made. G. Mortgage and Holder. For the purposes of this Agreement, the term "mortgage" shall include a deed of trust or other instrument creating an encumbrance or lien upon any part of the Property as security for a loan to construct and otherwise finance the Project; the term "holder" in reference to a mortgage shall include any insurer or guarantor of any obligation or condition secured by such mortgage or deed of trust, including, but not limited to, the Federal Housing Commissioner, the Administrator of Veterans Affairs, and any successor in office of either such official. SECTION X. REMEDIES. A. In General. Except as otherwise provided in the Agreement, upon any default in or breach of the Agreement by either party or any successor to such party, such party (or successor), upon written notice from the other, shall proceed immediately to cure or remedy such default or breach within thirty (30) days after receiving the notice. If action is not taken or not diligently pursued, or the default or breach is not cured or remedied within a reasonable time, the aggrieved party may institute proceedings necessary or desirable in its opinion to cure and remedy the default or breach, including, but not limited to, proceedings to compel specific performance by the party in default or breach of its obligations. B. Termination by Developer Prior to Conveyance. 1. If the Commission does not tender conveyance or possession of the Property in the manner and condition and by the date provided in the Agreement, and any such failure is not cured within forty -five (45) days after the date of written demand by the Developer, the Agreement shall be terminated at the option of the Developer, by written notice to the Commission, and, except for return of the Deposit, neither the Commission nor the Developer shall have any further rights against or liability to the other under the Agreement: 2. If the Developer furnishes evidence reasonably satisfactory to the Commission that, after and despite reasonably diligent effort for a period of sixty (60) days after the date of this Agreement, it has been unable to obtain mortgage financing for the Project on a basis and on terms that would generally be considered satisfactory by builders or contractors for construction of the nature and type of the Project, the Developer shall, after having submitted such evidence and if so requested by the Commission, continue to make diligent efforts to obtain such financing for a period of sixty (60) days after such request. If the Developer fails to obtain financing after efforts listed above, then the Agreement shall, at the option of the Commission or the Developer, be terminated by written notice thereof to the other party, and neither the Commission nor the Developer shall have any further rights against or liability to the other under the Agreement excepting that (i) the Commission will retain the performance guarantee (Deposit) as provided under Section III herein and (ii) the Developer shall reimburse the Commission for the Utility Improvements provided for in Section XI. C. Termination by Commission Prior to Conveyance. In the event that: a. prior to conveyance of the Property to the Developer and in violation of the Agreement: i. the Developer (or successor in interest) assigns or attempts to assign the Agreement or any rights therein or the Property, or ii. there is any change in the ownership of the Developer or with respect to the identity of the parties holding an ownership interest in the Developer or the degree thereof, which the Commission reasonably has refused to approve; or b. the Developer does not submit reasonably satisfactory architectural and site plans, or evidence of necessary equity capital and mortgage financing, in satisfactory form and in the manner and by the dates respectively provided in the Agreement therefor; or C. the Developer does not pay the Purchase Price and take title to the Property upon tender of conveyance by the Commission pursuant to the Agreement, then the Agreement and any rights of the Developer in the Agreement and the Property shall, at the option of the Commission, without need of the consent of the Developer, be terminated: Provided, however, that with respect to any default or failure referred to in subdivisions (a), (b), or (c) of this Section X.C. a period ofthirty (3 0) days shall be given to cure such failure or default after the date of . written demand by the Commission shall be given to cure such failure or default. In the event of any default or failure referred to in subdivisions (a) (b) or (c) of this Section X.C., which remains uncured by the Developer after notice and opportunity to cure have been provided by the Commission, the Deposit shall be retained by the Commission as liquidated damages and as its property without any deduction, offset, or recoupment whatsoever, and the Developer shall be required to reimburse the Commission for the Utility Improvements made pursuant to Section XI hereof. Other than the foregoing, neither the Developer (or successor in interest) nor the Commission shall have any further rights against or liability to the other under the Agreement. D. Revestina Title in Commission upon Happening of Event Subsequent to Convey to Developer. If subsequent to conveying any part of the Property to the Developer and prior to the issuance of a Certificate of Completion regarding the Project by the Commission: 1. the Developer (or successor in interest) shall default in or violate its obligations with respect to the construction of the Project, including the nature and the dates for the beginning and completion thereof, or shall abandon or substantially suspend construction work, and any such default, violation, abandonment, or suspension shall not be cured, ended, or remedied within three (3) months (six (6) months, if the default is with respect to the date of completion of the construction) after written demand by the Commission so to do; or 2. the Developer (or successor in interest) shall fail to pay real estate taxes or assessments on the Property when due, or shall place thereon any encumbrance or lien unauthorized by the Agreement, or shall cause any levy or attachment to be made, or any materialmen's or mechanics' lien, or any other unauthorized encumbrance or lien to attach, and such taxes or assessments are not paid, or the encumbrance or lien removed or discharged or provision reasonably satisfactory to the Commission made for such payment, removal, or discharge, within ninety (90) days after written demand by the Commission so to do; or 3. there is, in violation of the Agreement, any transfer of any part of the Property, or any change in the ownership or distribution of the stock or controlling interest of the Developer, or with respect to the identity of the parties in control of the Developer or the degree thereof as provided in Section VIII, and such violation shall not be cured within sixty (60) days after written demand by the Commission to the Developer, then the Commission shall have the right to re -enter and take possession of the Property and to terminate and revest in the Commission the estate conveyed by the Deed to the Developer. The intent of this provision, together with other provisions of the Agreement, is that the conveyance of the Property to the Developer shall be made upon, and that the Deed shall contain, a condition subsequent to the effect that the event of any default, failure, violation, or other action or inaction by the Developer specified in this paragraph D the Developer's failure to remedy, end, or abrogate such default, failure, violation, or other action or inaction, within the period and in the manner stated in such subdivisions, the Commission at its option may declare a termination in favor of the Commission of the title, and of all the rights and interest in and to the Property conveyed by the Deed to the Developer, and that such title and all rights and interests of the Developer, and any assigns or successors in interest to and in the Property, shall revert to the Commission; provided, that such condition subsequent and any revesting of title as a result thereof in the Commission: 1. shall always be subject to and limited by, and shall not defeat, render invalid, or limit in any way, (i) the lien of any mortgage authorized by the Agreement, and (ii) any rights or interests provided in the Agreement for the protection of the holders of such mortgages; and 2. shall not apply to individual parts of the Property, if any, (or in the case of parts leased, the leasehold interest) on which the construction thereon has been completed under the Agreement and for which a Certificate of Completion has been issued as provided in Section VI. In addition to, and without in any way limiting the Commission's right to reentry as provided for in the preceding paragraph, the Developer shall reimburse the Commission for the Utility Improvements made pursuant to Section XI hereof and the Commission shall have the right to retain the Deposit, as provided in Section III hereof, without any deduction, offset or recoupment whatsoever, in the event of a default, violation or failure of the Developer as specified in the preceding paragraph. E. Resale of Reacquired Property; Disposition of Proceeds. Upon the revesting in the Commission of title to the Property or any part thereof as provided in paragraph D above, the Commission shall, pursuant to its responsibilities under State law, use its best efforts to resell the Property or part thereof (subject to such mortgage liens and leasehold interests as set forth in paragraph D above) as soon and in such manner as the Commission shall find feasible and consistent with the objectives of State law and of the Plan to a qualified and responsible party or parties (as determined by the Commission) who will assume the obligation of making or completing the construction of the Project in its stead or of another project as shall be satisfactory to the Commission and in accordance with the uses specified for such Property or part thereof in the Plan. Upon such resale of the Property, the proceeds shall be applied: First, to reimburse the Commission, on its own behalf or on behalf of the City, for all costs and expenses incurred by the Commission, including but not limited to: a. salaries of personnel, in connection with the recapture, management, and resale of the Property or part thereof, but less any income derived by the Commission from the Property or part thereof in connection with recapture such management or resale; 40 b. all taxes, assessments, and water and sewer charges with respect to the Property or part thereof, or, in the event the Property is exempt from taxation or assessment or such charges during the period of ownership thereof by the Commission, an amount, if paid, equal to such taxes, assessments, or charges, as determined by the appropriate assessing officials, as would have been payable if the Property were not so exempt; C. any payments made or needed to be made to discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title in the Commission or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults, or acts of the Developer, its successors or transferees; d. any expenditures made or obligations incurred in making or completing the construction or any part thereof on the Property or part thereof, including but not limited to the Utility Improvements made pursuant to Section XI; e. and any amounts otherwise owing the Commission by the Developer and its successor or transferee; and 2. Second, to reimburse the Developer, its successor or transferee, up to the amount equal to: a. the sum of the Purchase Price paid by it for the Property (or allocable to the part thereof) and the cash actually invested by the Developer in construction on the Property or part thereof, less b. any gains or income withdrawn or made by the Developer from the Agreement or the Property. Any balance remaining after such reimbursements shall be retained by the Commission as its property. F. Other Rights and Remedies of Commission, Waiver by Delay. The Commission shall have the right to institute such actions or proceedings as it may deem desirable for effectuating the purposes of this Section X. This would include the right to execute and record or file among the public land records in the office in which the Deed is recorded a written declaration of the termination of all the right, title, and interest of the Developer, and (except for such individual parts upon which construction has been completed under the Agreement and for which a Certificate of Completion as provided in Section VI is to be delivered, and subject to such mortgage liens and leasehold interests as provided in Section X, paragraph D hereof) its successors in interest and assigns, in the Property, and the revesting of title in the Commission. Any delay by the Commission in instituting or prosecuting any such actions or proceedings or otherwise asserting its rights under this Section X shall not operate as a waiver of such rights or to deprive it of or limit such rights in any way. This provision intends that the Commission should not be constrained, so as to avoid the risk of being deprived of or limited in the exercise of the remedy provided in this paragraph because of concepts of waiver, laches, or otherwise, to exercise such remedy at a time when it may still hope otherwise to resolve the problems created by the default involved; nor shall any waiver in fact made by the Commission with respect to any specific default by the Developer under this paragraph be considered or treated as a waiver of the Commission's rights to any other defaults by the Developer under this paragraph or with respect to the particular default except to the extent specifically waived in writing. G. Enforced Delay in Performance for Causes Beyond Control of Party. For the purposes of any of the provisions of the Agreement, neither the Commission nor the Developer, as the case may be, nor any successors in interest, shall be considered in breach of or in default in its obligations with respect to the preparation of the Property for the Project, or the beginning and completion of construction, or progress in respect thereto, in the event of enforced delay in the performance of such obligations due to unforeseeable causes beyond its control and without its fault or negligence. These include, but are not limited to, acts of God, acts of the public enemy, acts of the federal government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes, and unusually severe weather, or delays of subcontractors due to such causes. The purpose and intent of this provision is that in the event of the occurrence of any such enforced delay, the time or times for performance of the obligations of the Commission with respect to the preparation of the Property for development or of the Developer with respect to construction of the Project as the case may be, shall be extended for the period of the enforced delays as determined by the Commission: Provided, That the party seeking the benefit of the provisions of this paragraph shall, within ten (10) days after the beginning of the enforced delay, have first notified the other party thereof in writing and of the cause or causes thereof, and shall have requested an extension for the period of the enforced delay. H. Rights and Remedies Cumulative. The rights and remedies of the parties to the Agreement, whether provided by law or by the Agreement, shall be cumulative. The exercise by either party of any one or more of such remedies shall not preclude the exercise, at the same or different times, of any other such remedies for the same default or breach or of any of its remedies for any other default or breach by the other party. No waiver made by either such party with respect to the performance, manner or time thereof, any obligation of the other party, or any condition to its own obligation under the Agreement shall be considered a waiver of any rights of the party making the waiver with respect to that particular obligation of the other party or condition to its own obligation beyond those expressly waived in writing and to the extent thereof, or a waiver of any respect in regard to any other rights of the party making the waiver or any other obligations of the other party. I. Party in Position of Surety With Respect to Obligations. The Developer, for itself, its successors and assigns, and for all other persons who are or who shall become liable upon or subject to any obligation or burden under the Agreement, whether by express or implied assumption or 10 otherwise, hereby waives, to the fullest extent permitted by law, any and all claims or defenses otherwise available on the ground of its or their being or having become a person in the position of a • surety, whether real, personal, or otherwise or whether by agreement or operation of law, including, without limitation on the generality of the foregoing, any and all claims and defenses based upon extension of time, indulgence, or modification of terms of contract. SECTION XI. EASEMENTS, DEVELOPMENT AGREEMENT AND IMPROVEMENTS A. Utility Improvements. The Commission hereby agrees to construct and provide for the Utility Improvements, which is anticipated to cost the Commission approximately $140,000.00. In the evident that the Developer defaults under this Agreement or otherwise fails to proceed with the Project, the Developer shall reimburse the Commission for its costs associated with the Utility Improvements. To induce the Commission to award a bid for the Utility Improvements, the Developer may execute this Agreement prior to the Commission's execution and final approval thereof, and in such case such execution and release of the Developer's signature page (whether by facsimile or original), shall bind the Developer to the terms of this Agreement, provided that the Commission may only enforce the terms thereof after the Commission executes this Agreement in the same form as executed by the Developer. The Developer acknowledges that the Utility Improvements may not commence on the • portion of the Property subject to the Marathon Easements, as amended by the Easement Agreement with License, until the Development Agreement attached hereto as Exhibit F is executed by all parties and recorded. To the extent that the Commission awards a bid for the Utility Improvements and the Utility Improvements are delayed because the Developer has not delivered its signature page to the Authority, any damages or charges incurred by the Authority or the Commission as a result of such delay shall be the obligation and responsibility of the Developer. B. Easements of Record. The Developer hereby agrees to purchase the Property subject to the easements of record, including the Marathon Easements, as amended by the Easement Amendment with License, and the Development Agreement, and to construct the Project. The Developer hereby acknowledges the terms and conditions of the Marathon Easements, as amended by the Easement Amendment with License, and the Development Agreement and that it has independently investigated and reviewed, to its satisfaction, the documents of the Commission pertaining to the Marathon Easements, the Settlement Agreement and Release, the Easement Amendment with License and the Development Agreement and has not relied solely upon the representations of the Commission. The Developer shall be responsible for and shall indemnify, defend, and safe harmless the Commission, the City or any entity related thereto (collectively, the "City Entities ") from all claims, suits, actions, damages and costs arising out of any and all damage due to acts of the Developer or its contractors, agents or employees, with respect to the easements of record, including but not limited to the Marathon Easements, as amended by the Easement Amendment with License, the Development Agreement, and the Settlement Agreement. It is expressly understood that the City Entities shall have no obligation to reimburse the Developer for any damages paid or incurred by the Developer as a result of an action enforcing any easement of record or the Development Agreement. The provisions of this paragraph shall survive the termination of this Agreement. SECTION XII MISCELLANEOUS. A. Conflict of Interest; Commission Representatives Not Individually Liable. No member, official, or employee of the Commission shall have any personal interest, direct or indirect, in the Agreement, nor shall any such member, official, or employee participate in any decision relating to the Agreement which affects his personal interests or the interests of any corporation, limited liability company, partnership, or association in which he /she is, directly or indirectly, interested. No member, official, or employee of the Commission shall be personally liable to the Developer, or any successor in interest, in the event of any default or breach by the Commission or for any amount which may become due to the Developer or successor or assign or on any obligations under the terms of the Agreement. B. Recordation. This Agreement shall be recorded in the office of the St. Joseph County Recorder immediately prior to the closing on the Project unless one of the parties thereto records this agreement on its own accord. C. Equal Employment Opportunity. The Developer, for itself and its successors and assigns, agrees that during the construction of the Project: 1. The Developer will not discriminate against any employee or applicant for employment because of race, color, religion, sex, or national origin. The Developer agrees to post in conspicuous places, available to employees and applicants for employment, notices setting forth the provisions of this nondiscrimination clause. 2. The Developer will state, in all solicitations or advertisements for employees placed by or on behalf of the Developer, that all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, or national origin. D. Provisions Not Merged With Deed. None of the provisions of the Agreement are intended to or shall be merged by reason of any Deed transferring title to the Property from the Commission to the Developer or any successor in interest, and any such Deed shall not be deemed to affect or impair the provisions and covenants of the Agreement. E. Titles of Articles and Sections. Any titles of the several parts, sections, and paragraphs of the Agreement are inserted for convenience or reference only and shall be disregarded in construing or interpreting any of its provisions. • F. Counterparts. This Agreement may be executed in counterparts, all of which shall be deemed originals. G. Notices and Demands. A notice, demand, or other communication under the Agreement by either parry to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally, and i. in the case of the Developer, is addressed to or delivered personally to the Developer as follows: General Manager JF +A Properties, Ltd. /CII &P 272 E. Deerpath Road, Suite 244 Lake Forest, Illinois 60045 ATTN- James Follensbee, President Compm County Mayo /SB, LLC c/o JF +A Properties, Ltd. /CII &P 272 E. Deerpath Road, Suite 244 Lake Forest, Illinois 60045 ATTN: James Follensbee, President With copy to Michael A. Moynihan, Esq. Freeborn & Peters, LLP Suite 3000 311 South Wacker Drive Chicago, Illinois 60606 ii. in the case of the Commission is addressed to or delivered personally to the Commission as follows: South Bend Redevelopment Commission 1200 County -City Building 227 West Jefferson Boulevard South Bend, Indiana 46601 ATTN: President With copy to Cheryl A. Greene, Esq. Department of Law City of South Bend, Indiana 1400 County -City Building 227 West Jefferson Boulevard South Bend, Indiana 46601 or at such other address with respect to either such parry as that party may from time to time designate in writing and forward to the other as provided in this Section. H. Governing Law. This agreement shall be interpreted and enforced according to the laws of the State of Indiana. I. Corporate Authority. The undersigned person executing and delivering this Agreement on behalf of the General Manager represents and certifies that he is the duly authorized officer of the General Manager and has been fully empowered, by proper action by the General Manager and the Company to execute and deliver this Agreement and that all necessary corporate action has been taken and done by General Manager and the Company. The undersigned persons executing and delivering this Agreement on behalf of the Commission represent and certify that they are the duly authorized officers of the Commission and have been fully empowered, by proper action by the Commission to execute and deliver this Agreement and that all necessary corporate action has been taken and done by Commission. (remainder of this page intentionally left blank) I� E IN WITNESS WHEREOF, the Parties hereby execute this Agreement on the date first written above. SOUTH BEND REDEVELOPMENT COMMISSION on behalf of City of South Bend, Department of Redevelopment Printed Name and Title ATTEST: Signature Printed Name and Title 0 STATE OF INDIANA ) )SS: ST. JOSEPH COUNTY ) Before me, the undersigned, a Notary Public in and for said County and State, personally appeared the South Bend Redevelopment Commission, on behalf of the City of South Bend, Department of Redevelopment, by , the of the South Bend Redevelopment Commission, and , the of the South Bend Redevelopment Commission, and acknowledged the execution of the foregoing Contract for Sale of Land for Private Development. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on , 2006. My Commission Expires: Notary Public Residing in St. Joseph County, IN 1 STATE OF ) )SS: COUNTY OF ) JF +A PROPERTIES, LTD. /CII &P, an Illinois Sub -S Corporation NO James Follensbee, President COUNTY MAYO /SB, LLC, an Illinois limited liability company By: JF +A PROPERTIES, LTD. /CII &P, its sole Managing Member James Follensbee, President Before me, the undersigned, a Notary Public in and for said County and State, personally appeared James Follensbee, President of JF +A Properties, Ltd. /CII &P on behalf of JF +A Properties, Ltd. /CII &P and County Mayor /SB, LLC, as its sole managing member, and acknowledged the execution of the foregoing Contract for Sale of Land for Private Development. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on , 2006. My Commission Expires: Notary Public Residing in _ This instrument was prepared by: Shawn E. Peterson, Assistant City Attorney, City of South Bend. 1400 County -City Building, South Bend, IN 46601. El EXHIBIT A Legal Description of Property The Site, as defined in this Agreement, shall consist and apply to only the following parcels: Lot 3A Lot 3A Blackthorn Corporate Office Park Major Subdivision #Two Section Three, recorded May 29, 2001 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 0123942 (Such property shall be referred to herein as "Lot 3A ".) Lot 7 A part of Lot seven (7) in Blackthorn Corporate Office Park as recorded under Instrument Number 9438010 in the Office of the Recorder of St. Joseph County, Indiana, particularly described as follows: Beginning at a Northerly corner of said Lot 7, which corner being common with the most westerly corner of lot 3A in Blackthorn Corporate Office Park, Minor #10, as recorded under Instrument Number 0123942 in the Office of said Recorder; Thence South 38 degrees 59 minutes 52 seconds East along a common line to said Lots 7 and 3A, a distance of 375.00 feet to the most Southerly corner of said Lot 3A; Thence North 57 degrees 05 minutes 00 seconds West, a distance of 125.29 feet; Thence North 38 degrees 59 minutes 52 seconds West parallel to said common line of Lot 7 and Lot 3A, a distance of 256.85 feet to a point on the Southeasterly right of way line of Nimtz Parkway, said point on a non- tangent curve concave to the Northwest having a radius of 790.00 feet, a central angle of 2 degrees 55 minutes 06 seconds and chord of 40.23 feet bearing North 57 degrees 11 minutes 35 seconds East; Thence Northeasterly along said curve, a distance of 40.24 feet to the point of beginning. (Such property shall be referred to herein as "Lot 7 ".) 0 EXHIBIT B [sewer relocation plans] • 0 EXHIBIT C [Form of Deed] u i It MAIL DEED TO: City of South Bend Department of Redevelopment 227 W. Jefferson, Suite 1200 South Bend, IN 46601 MAIL TAX BILL TO: County Mayo /SB, LLC c/o JF +A Properties, Ltd. /CII &P 272 E. Deerpath Road, Suite 244 Lake Forest, IL 60045 AUDITOR'S RECORD Transfer No. Taxing Unit. Date Tax Key No. QUIT CLAIM DEED (Private Redevelopment) THIS INDENTURE WITNESSETH, that the City of South Bend, Department of Redevelopment, in St. Joseph County, Indiana ( "Grantor "), conveys and quit claims to County Mayo /SB, LLC ( "Grantee "), for and in consideration of Ten and 00 /100 Dollars ($10.00), the receipt of which is hereby acknowledged, the following described real estate in the City of South Bend, St. Joseph County, Indiana ("Real Estate "): See attached Exhibit A SECTION I. This Deed is subject to the covenants, conditions, restrictions, and provisions of the Contract for Sale of Land for Private Redevelopment entered into between the Grantor and the Grantee dated March 24, 2006, a copy of which was recorded on May 2006, as Document No. , in the Office of the Recorder in St. Joseph County, Indiana ( "Agreement "). The Grantee may not convey this Real Estate, or any part thereof, without the consent of the Grantor until the Certificate of Completion, as described in the Agreement, releasing the Grantee from the obligations of the Agreement as to this Real Estate, or such part thereof then to be conveyed, has been placed on record. This provision, however, in no way prohibits conveyance of the Real Estate incidental to a judicial foreclosure sale nor prevents the Grantee from mortgaging this Real Estate in order to obtain funds for the purchase of Real Estate hereby conveyed and for erecting improvements thereon in conformity with the Economic Development Plan for the Airport Economic Development Area ( "Plan") and applicable provisions of the Zoning Ordinance of the City of South Bend, Indiana. The terms and covenants of the Agreement pertaining to the redevelopment of the Real Estate and to the improvements shall be deemed covenants running with the land. It is specifically agreed that the Grantee shall promptly begin and diligently prosecute to completion the redevelopment of the Real Estate through the construction of the improvements thereon, as provided in the Agreement, and as represented to the Grantor in public documents of the Grantor, including but not limited to the bid proposal submitted to the Grantor by Grantee ( "Project "). Such construction shall be begun no later than sixty (60) days of the recording of this Deed, and qualify for a certificate of occupancy from the 1 • Building Commissioner of the City of South Bend within twelve months (12) months thereafter. Promptly after completion of the Project, the Grantor will furnish the Grantee with an appropriate instrument so certified. Such certification by the Grantor shall be (and it shall be so provided in the certification itself) a conclusive determination of satisfaction and termination of all covenants, requirements, obligations and the like in the Agreement, and in this Deed, except the covenants of Section VII of the Agreement and Section III herein for the limited time set forth therein. All certifications provided for herein shall be in such form as will enable them to be recorded with the Office of the Recorder of St. Joseph County. SECTION II. In the event the Grantee herein, prior to the recording of the Certificate of Completion hereinabove referred to, shall: (a) default in or violate any obligations with respect to the construction of the improvements provided for in this Deed and the Agreement, or abandon or substantially suspend construction work, and any default, or violation, abandonment, or suspension is not cured, ended, or remedied within three (3) months (six (6) months if the default is with respect to the date for the completion of the improvements) after written demand by the Grantor so to do; or (b) fail to pay real estate taxes or assessments on the Real Estate or any part thereof when due, or shall place thereon any encumbrance or lien not authorized by the Agreement with the Grantor, or shall suffer any levy or attachment to be made, or any materialmen's or mechanic's liens or any other unauthorized encumbrances or lien to attach, and such taxes or assessments are not paid or the encumbrance or lien removed or discharged, or provisions satisfactory to the Grantor made for such payments, removal or discharge, within ninety (90) days after written demand by the Grantor so to do; or (c) in violation of the Agreement or of this Deed, transfer the Real Estate or any part thereof, or if there is any change in the ownership or partnership interests, or to the identity of the parties in control of the Grantee or either of them or the degree thereof, and such violation is not cured within sixty (60) days after written demand by the Grantor; then the Grantor shall have the right to re -enter and take possession of the Real Estate and to terminate and revest in the Grantor the estate conveyed by this Deed to the Grantee, its assigns or successors in interest. Such reversion of title shall, however, be subject to the lien of any outstanding mortgage authorized by the Agreement. 2 • SECTION III. The Grantee agrees for itself and its successors and assigns to or of the Real Estate any part thereof, hereinabove described, that the Grantee and such successors and assigns shall (a) devote the Real Estate to, and only to, and in accordance with the uses specified in the Plan; (b) not discriminate upon the basis of race, sex, color, religion, or national origin in the sale, lease or rental or in the use or occupancy of the Property or any improvements erected or to be erected thereon, or any part thereof. It is intended and agreed that the above and foregoing agreements and covenants shall be covenants running with the land; and that they shall, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in this Deed, be binding, to the fullest extent permitted by law and equity, for the benefit and in favor of, and enforceable by, the Grantor, its successors and assigns, and the City, and any successor in interest to the Real Estate, or any part thereof, and the owner of any other land or any interest in such land in the Airport Economic Development Area which is subject to the land use requirements and restrictions of the Plan, and the United States (in the case of covenant in clause (b)) against the Grantee, its successors and assigns, and every successor in interest to the Real Estate, or any part thereof. It is further intended and agreed that the agreement and covenant provided in clause (a) shall remain in effect until December 31, 2015 (at which time such agreement and covenant shall terminate) and the agreements and covenants provided in clause (b) shall remain in effect without limitation as to time; provided, however, that such agreements and covenants shall be binding on the Grantee itself, each successor in interest to the Real Estate, and every part thereof, and each party in possession or occupancy, respectively, only for the period as such successor or party shall have title to, or an interest in, or possession or occupancy of, the Real Estate or part thereof. The terms "uses specified in the Plan" and "land use" referring to provisions of the Plan, or similar language, in this Deed shall include the land and all buildings, housing, and other requirements or restrictions of the Plan pertaining to such land. SECTION IV. In amplification, and not in restriction, of the provisions of this Deed, it is intended and agreed that the Grantor and its successors and assigns shall be deemed beneficiaries of the agreements and covenants provided herein, and the United States shall be deemed a beneficiary of the covenants in clause (b) of Section III hereof, both for and in their own right, and also for the purposes of protecting the interest of the community and the other parties, public or private, in whose favor or for whose benefit these agreements and covenants have been provided. Such agreements and covenants shall run in favor of the Grantor and the United States, for the entire period during which such isagreements and covenants shall be in force and effect, without regard to whether the 3 • • Grantor or the United States has at any time been, remains, or is an owner of any land or interest therein to, or in favor of, which such agreements and covenants relate. The Grantor shall have the right in the event of any breach of any such agreement or covenant, and the United States shall have the right in the event of any breach of the covenant provided in clause (b) of Section III hereof, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of agreement or covenant, to which it or any other beneficiaries of such agreement or covenant may be entitled. SECTION V. This Deed is also given subject to: (a) Easements, Restrictions, and Agreements of record. (b) Covenants, Conditions, and Restrictions contained in the Plan. (c) Provisions of the zoning ordinances of the City of South Bend, Indiana, insofar as they affect this real estate. In the event any of the terms, conditions, obligations or restrictions herein conflict with those contained in the Agreement, the terms, conditions, obligations and restrictions of the Agreement, when read together as a whole, shall prevail. SECTION IV. Grantor certifies under oath that no Indiana Gross Income Tax is due or payable in respect to the transfer made by this deed. (remainder of this page is intentionally left blank) n IN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed in its behalf by its duly authorized officers on May , 2006. CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT, by and through the South Bend Redevelopment Commission GRANTOR am Printed: Its: ATTEST: an Printed: Its: STATE OF INDIANA ) ) SS: ST. JOSEPH COUNTY ) Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared City of South Bend, Department of Redevelopment, by and , known to me to be the and , respectively of the South Bend Redevelopment Commission, and acknowledged the execution of the foregoing Deed. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the _ day of 52006. (SEAL) My Commission Expires: • Notary Public Residing in _ (Signature Page of Deed) County, Indiana • STATE OF SS: COUNTY ) ACCEPTED: COUNTY MAYO /SB, LLC, an Illinois limited liability company By: JF +A PROPERTIES, LTD. /CII &P, its sole Managing Member to James Follensbee, President Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared James Follensbee known to me to be the President of JF +A Properties, Ltd. /CII &P, the sole Managing Member of County Mayo /SB, LLC and acknowledged the execution of the foregoing Deed. Is, IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the _ day of May _, 2006. • (SEAL) Notary Public Residing in County, My Commission Expires: This instrument was prepared by Shawn E. Peterson, Assistant City Attorney, City of South Bend, 1400 County-City Building, South Bend, Indiana 46601. EXHIBIT D [Form of Utility Easement] • r� GRANT OF PERMANENT UTILITY EASEMENT THIS INDENTURE, made this _ day of May, 2006 by and between COUNTY MAYO /SB, LLC (hereinafter "Grantor "), and the CITY OF SOUTH BEND, INDIANA (hereinafter "Grantee "). WITNESSETH: That for One Dollar ($1.00) and other good and valuable consideration, the receipt of which Grantor hereby acknowledges, Grantor hereby grants, conveys, and warrants to Grantee a permanent easement of the nature and at the location hereinafter set forth and described for the installation, construction, operation, maintenance, adjustment, replacement, repair, alteration, removal, modernization, and use of utility systems, including a sanitary sewer system, a water system, other similar utility systems and related facilities, together with the right of ingress to and egress from said easement for the purpose of installing, constructing, operating, maintaining, adjusting, replacing, repairing, altering, removing, and modernizing said systems and other equipment or facilities incident thereto, in, upon, over and under the following described real estate in the City of South Bend, St. Joseph County, State of Indiana, briefly described at Exhibit A: The easement granted herein shall pertain to the air, surface, and subsurface rights and interests of the Grantor, for the use and benefit of the Grantee, and its successors, successors in interest and assigns, to the nature and extent Grantee may desire said rights and interests to accomplish and carry out the general purpose of this conveyance as the same has been hereinabove expressed. The easement hereby granted expressly includes the right and privilege at reasonable times to clean and remove from said easement such timber, brush, debris or obstructions interfering with the utility systems in said easement. Grantee shall restore the area disturbed by its work to as near the original conditions as is reasonably practicable. The Grantors reserve the right to use and occupy the surface area on and over the easement provided that said use and occupancy does not in any way conflict or obstruct the Grantee's right to use said surface for the purpose and intentions hereinabove expressed. The easement granted herein and its associated benefits and obligations, shall constitute covenants running with the real estate, and shall be binding upon the Grantor and be an obligation thereof of every person or entity how or hereafter having any fee, leasehold, or other interest in all or any part of the said real estate. This indenture shall bind and inure to the benefit of the respective successors and assigns of the parties hereto. The Grantor hereby covenants with Grantee that it is lawfully seized and possessed of the parcel of real estate hereinabove described; that it has a good and lawful right to sell and convey; and that it will warrant and forever defend the title and quiet possession thereto against the lawful claims of all persons whomsoever. Grantor hereby releases any and all claims from whatsoever cause, incidental to the exercise of any rights herein granted, except for damage to Grantor caused by the intentional or negligent act or omission of Grantee, its agents, employees, or licensees. (remainder of this page is intentionally left blank) • • • • • IN WITNESS WHEREOF, the said Grantor has executed this Grant of Permanent Utility Easment on the date first set forth above. COUNTY MAYO /SB, LLC, an Illinois limited liability company By: JF +A PROPERTIES, LTD. /CII &P, its sole Managing Member in STATE OF ) )SS: COUNTY OF ) James Follensbee, President Before me, the undersigned, a Notary Public in and for said County and State, personally appeared James Follensbee, President of JF +A Properties, Ltd. /CII &P on behalf of County Mayor /SB, LLC, as its sole managing member, and acknowledged the execution of the foregoing Grant of Permanent Utility Easement. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on , 2006. My Commission Expires: Notary Public Residing in _ ACCEPTANCE The City of South Bend, by and through its Board of Public Works, accepts this Grant of Permanent Utility Easement. Dated this day of , 2006. CITY OF SOUTH BEND, INDIANA BOARD OF PUBLIC WORKS Gary Gilot Carl Littrell Don Inks Attest: Angela K. Jacob, Clerk STATE OF INDIANA ) )SS: COUNTY OF ST JOSEPH ) Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Gary Gilot, Carl Littrell, and Don Inks, the members of the City of South Bend, Board of Public Works, and acknowledged the acceptance of the foregoing Grant of Permanent Utility Easement. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on , 2006. My Commission Expires: Notary Public Residing in _ EXHIBIT A Legal Description of Permanent Utility Easement �7- i EXHIBIT E [Site Plans] C E COUNTY MAYO IRISH INN & PUB COUNTY MAYO IRISH INN & PUB LOT 3, BLACKTHORN CORPORATE CENTER CITY OF SOUTH BEND, INDIANA DEVELOPMENT PROFILE COUNTY MAYO IRISH INN & PUB, LLC Owner c/o JF +A PROPERTIES, LTD. /CII Manager 269 Market Square Lake Forest, Illinois 60045 (847)234 =1477 FAX: (847)234 -1607 E -Mail: JFJFA @aol.com JAMES FOLLENSBEE + ASSOCIATES, LTD. Architects Planners Engineers 269 Market Square Lake Forest, Illinois 60045 (847) 234 -1476 FAX: (847) 234 -1607 JFA PROJECT: 2030 MARCH, 2001 4 COUNTY MAYO IRISH INN & PUB South Bend., Indiana JF +A PROPERTIES, LTD. /CII PROJECT NO. 2030 PRELIMINARY DEVELOPMENT PROFILE COVER SHEET ARTIST'S RENDERING TABLE OF CONTENTS TABLE OF CONTENTS COUNTY MAYO IRISH INN & PUB DEVELOPMENT PROFILE COUNTY MAYO IRISH INN & PUB VERNON HILLS, ILLINOIS I. EXECUTIVE SUMMARY COUNTY MAYO IRISH INN & PUB 1.1 Property Description and Location ES.1 1.2 Development Profile and Formal Submission ES-2 of Proposal Forms 1.3 Contract Documents and Project Manual ES.2 -3 1.4 The Irish Pub Concept ( "IPC ") ES.3 1.5 The "Inn" ES.3 -4 - • The Irish Pub Concept Graphics 4 Pages 1.6 Owner's. Legal Structure ES.4 • The Blarney Shuffle Graphic 1 Page 1.7 Developer and Management Team ES.5 1.8 Project Architect ES.5 1.9 Irish Pub Design Firm ES.6 1.10 The Pub's and Inn's Design ES.6 • Interior Furnishings Graphic I Page • Proposed Stained Glass Design Graphic 1 Page TABLE OF CONTENTS (Continued) 1.11 Project Financing ES.7 1.12 Project Schedule ES.7 1.13 Final Development Profile and Submission ES.7 of Proposal Forms 1.14 Location Maps ES.8 • Partial Map State of Indiana showing proposed Lot 3 - Blackthorn Corporate Park. 1 Page • Detail Map - Blackthorn Corporate Park and Golf Course 1 Page • Detail Map - Blackthorn Corporate Park and Golf Course 1 Page II. PRELIMINARY ARCHITECTURAL EXHIBITS Sheet No. Description 1 Title Sheet A.1 Preliminary Site Plan L A.2 Basement Plan A.3 Lower Level Plan AA Upper Level Plan A.5 Roof Plan L A.6 Elevations III. APPLICANT'S CORPORATIONS AND AFFILIATES f 1.0 Executive Summary - James Follensbee Owned Corporations 6 Pages . and Affiliates Dtd. February 13, 2001. t illy, sous'. Attllt ? xr !� X11 }� 4 s. � # lit �f Jl 7 S i Mir � p } i � 1 &AIL' j _� � � rte' -•Cr i►z �. t i i zr, iJ _ " a \! � fit'. ��ti:. , •_ - . � - _ -- a _ .10 _ r j COUNTY MAYO IRISH INN & PUB South Bend., Indiana JF +A PROPERTIES, LTD. /CII PROJECT NO. 2030 PRELIMINARY DEVELOPMENT PROFILE I. EXECUTIVE SUMMARY COUNTY MAYO IRISH INN & PUB 1.1 Property Description and Location The COUNTY MAYO IRISH INN & PUB is a 52 -Unit multi -use lodging and food service facility designed as a traditional Irish Inn & Pub that is proposed to be developed on Lot No. 3 consisting of 4.57 acres located immediately adjacent to the Blackthorn Municipal Golf Course and five (5) minutes from the South Bend Regional Airport accessible immediately off the Indiana East West Tollway at Route 31, in South Bend, Indiana. The site is located approximately 15 minutes driving time to the east of Exit 77 providing access to Notre Dame University. The site is controlled and owned by the South Bend Redevelopment Commission and Authority, and is offered through its real estate agent - Stone Real Estate Group, also of South Bend, Indiana.. JF +A Properties, Ltd. /CII proposes to submit its formal Development Profile and required Proposal Forms and Faithful Performance Guarantee of t $36,600.00 in certified funds for the fee simple purchase of Lot #3 prior to the end of February for consideration by the South Bend Redevelopment Commission and Authority at their first March, 2001 meeting. The site's purchase cost per the Blackthorn Corporate Office Park Lot List Price published on 9/1/99 is $366,000 or approximately $80,000 /acre, subject to negotiations to re -route part of a Marathon Oil Company .oil line easement which passes currently through Lot No. 3. This oil _line easement may be re- located in accordance with discussions held with Mr. Owen Rock of the Redevelopment Commission and Authority by JF +A Properties, Ltd. /CII. The design concept for County Mayo Irish Inn & Pub (South Bend) is most similar to that conceived for County Mayo Irish Inn & Pub, a 44 -Unit multi -use lodging and food service facility being developed at 350 N. Milwaukee Avenue, Vernon Hills, Lake County, Illinois. The South Bend site will allow a larger unit count allowing the proto -type Irish Inn & Pub design to have equal residential wings which was not feasible at the Vernon Hills, Illinois site. 1.2 Development Profile and Formal Submission of Proposal Forms A complete Development Profile addressing all applicable design parameters, building materials and aesthetics of the proposal for the development of Lot #3 with a Traditional County Mayo Irish Inn & Pub, together with the South Bend Re- Development Commission and Authority's Proposal Forms and Supplements are currently being prepared for submission and presentation for the Commissions's first March, 2001 meeting. JF +A Properties, Ltd. /CII envisions utilizing the same consultants and interior design team members being used for the Vernon Hills, Illinois County Mayo Irish Inn & Pub Venture, inclusive of the Irish Pub Concept and the design and out - fitting services of Gemmell, Griffin & Dunbar, Ltd. of Dublin, Ireland to bring significant design and cost efficiencies to the development process for County Mayo Irish Inn & Pub (South Bend). 1.3 Contract Documents and Project Manual JF +A Properties, Ltd. /CII has spent the past six (6) years developing the design and specifications and establishing the many professional relationships that are unique to the development of our County Mayo Irish Inns & Pubs. Our pubs are organized under the Irish Pub Concept developed by the Guinness /Bass Import Company worldwide with un- equaled success in offering traditional Irish hospitality, food, beverages & music in authentic traditional pub designs and out - fitting. (SEE: "The Irish Pub Concept" portion of this P Preliminary Development Profile). The traditional Irish Inn features up -scale rooms, suites, and furnishings incorporating four poster beds, "On- Command" TV services, the latest in Kohler whirlpool baths and showers, custom designed carpeting, lamps and framed art all combined in traditional Georgian Architecture. Our Contract Documents are produced with our long term consultants utilizing AutoCad drafting systems thereby allowing the development process to move very quickly from plan approvals into construction. Our Project Manuals incorporate all Bidding Requirements, Contract Forms, Conditions of the Contract & Specifications to assure that our real estate investments are properly constructed and operated in accordance with all applicable local codes and ordinances and our own development standards which largely exceed national code requirements. Each County Mayo Irish Inn & Pub, while sharing several common structural and design features common to our original- prototype, will be sited, furnished and designed to incorporate local aesthetics and ambience. The proposed location adjacent to the nationally recognized Blackthorn Municipal Golf Course with its Irish Links design provides for a perfect setting for our Irish Inn & Pub which will compliment the existing course and be most attractive to visitors and residents of South Bend, Indiana with its famous institutions of higher education largely based upon similar heritages. ES-2 a L= y 1.3 Contract Documents and Project Manual (Continued.) Of significant distinction, is the concept in of itself, in providing a traditional Irish Inn and Pub combined in a singular offering up- scaled lodging, a full service restaurant within a traditional Irish Pub, with outdoor dining and a Blarney Everything Irish Gift Store, providing the best in Irish hospitality and staffing. 1.4 The Irish Pub Concept ( "IPC ") The Irish Pub Concept ( "IPC ") has in the past four (4) years been brought to the United States, having been previously developed worldwide, by Guinness Brewing Company and has enjoyed immediate market acceptance in several locations in the Chicago area that have opened in the past three (3) years such as: The Kerry Piper in Willowbrook, Fado's in downtown Chicago, McNallys in downtown St. Charles, and Elmhurst, Quigley's in Naperville, The Curragh in Schaumburg, Johnny O'Hagan's, the Irish Oak, Chief O'Neills, and Cullen's Pub, all in Chicago. While no two Irish pubs look alike, they all have similar features. The design and decor (tables, snugs, bar casework, display cases, wall treatment, and fixtures) replicate fixtures and surroundings that one would find in Dublin. In addition to .the authenticity of design, the pubs market real Irish drinks, many food dishes that are native to Ireland and, of course, they feature live Irish music and entertainment. The recent success of Irish based major films, the Riverdance, the Irish Tenors, various Irish Fests and the Fleaghs (festivals) sponsored by The Guinness Brewing Company have generated a strong awakening to many aspects of the Irish culture further serving to strongly kindle and peak the public's awareness and the financial success of these authentic Irish Pubs. The Irish beverages include up to eight (8) different beers and ales on tap that are imported from Ireland and the United Kingdom. There are no televisions sets above the bar and no Monday Night Football. Conversation, Irish Music and food, hospitality and kinship attract the patrons, with waiting lines and standing room only common in these pubs. (SEE: The Irish Pub Concept Graphics following this sheet) 1.5 The "Inn" The "Inn" component will be a "high -end" lodging experience that will attract the Corporate executive during the week and couples & families on the weekends. The spacious guestrooms and suites will feature designer case goods, four poster beds and plush linens, and offer all the amenities that are normally found in a 5 -star hotel from whirlpool baths, "On- Command TV Service ", plush-bathrobes and turn -down service to signature toiletries. The rooms-will also be high tech or "smartrooms ". ES.3 Ja THE IRISL"J' P-UB CONCE,',PT 1 �r IT'S TIME TO OPEN ol Ak . t + p � ff jf1 r- f . f — - - THE IRISH PUS (:O?NCF11 I - 11 `.� Tlk l- VO OPEN lolli W- to ircla, ;,_I in11�r.,,c i bt its hubs. a,l ,Il,faal th;,1 transcendN ; latitm,Jim But, until riots-. feet Public „n, .uuicil,:nrd the rich rewards of transph;iiing Irish Pub, Irom Ireland to other markets. Olvningaii Irish Pill, is:lllabout rcctc.nir1; a wann attnosphc•rc of c•llil,crnent that sets Irish Pubs apart front all other, -and niA, -, than one of the fastmi t;ro,ciiig .,nd nH„t aara.tiec leverage -driWl t[,ncc1111 in ncc csorld. As consumers Itt-toi 7c ctt•1 moic dc-n;:mding. Irish 1ptibs pruslx•r. 1 heir unitlite :ipixod i, capable of rel,licuim-, s,+ i+ +nc a, t.+rc i, iA,-, w recreate that atahenlic t tl .117d ,Iair:+l atmosphere. (;uinne„ «i,h ,heir on7plerc understandingofoho• Irnil Pidb t on.;pt cite help nc'sy anti rsistiny, VtlhGc:tn, rapture the tragic ingredients nr ,: s;arr for commcr: i.11 success, by amnc•crin„ rh m ccith c11.ciali,ts in every element DI the r7113, thaticcs [ri,h hubs their tmique apikai. What's Different is What Works Every Irish pub shoul,l lk dift":i nt t cuulsc ,ere are no nto pubs in ht 111 d dl,il .rc Ait.t: takes a special Mete{ „f dco,r .tnd di ink.,. music and staff, 10tH jilt(.n:nrrs rrirrn to "ct the essential ambience of in Irish piib ci.arth t; right. Designing and Reproducing an Authentic Irish pub Five concept siN les hat c been de clopcd which capture the c,scr..c of lri,li pid, design. Each design Athilc cnt:arra;ing diversity has very dcf,nirc charlcrcristies. Through the hish Pni, t:ump.lm..i tt orld leader in the design and unlstrutii nw d Irish Pubs, anti other tilt( fi;riltl firms, a full turn -kcr ,oni:, ran b: pro•:idi.d that invokes the site ,ur,cl, design, 'Mufacrurr anti Iiuittl; of our Hoot,. I ht_ aeess is tried and icstcd anti gLiicraii delivers a high qualirr. Dull, ol,rr.16wi'll 1,111, within twrnti -four t;.<ic, .,r , .ttrc•r planning and iitcn,ifr::.lhf Fhe Right Staff is vital ,hnt„i ri,c frhh Pub ,1�C_ il; 11kt1 J,:ath i 1 c;il ?:,j ii i t;:c: v orltf Irish Music Charms I-lie World .;s; -i. i;. .,...))�riun,iif,:. .; ?,,i,la itl•! rl „n.la:- l,ri' .gip- ,at�iin. c c'iu�rrl cllatr + -it;. a11+l. ir1 turn, +_I j t:l, r i .tl_ i,in,r + +alcr uiu i<.il 1t:cs, t 1YT�'q Ii” 111, t;t f (loin, It 17 1111 1( f .i:, i inns €,(creel t;ith rl;s i;7fc,lil,I it .s clul,cm, T.1 Ir,;, pul,, I i"l- ititi'i,.. till ll.tr111 rhi ttt�ll 1-i f l If, I'd I P1 11 ,,l If)), H II' MISH PUB C'ONCEPT - H'S'l IN11- M ON N ff THEVICIORIAN DI, BLIN ITI) (.1 NH U. K 11 Born q1' iiiuiakhi�: o- F, 'i:; P, andinsi.itema, wj , wfi—ll ra-alb the dr-s terho, ,L, thepalette. Wo l lnte?iOIN mosaii-sand polisheelandeb' px,li skib, hfwnl, gLw, the mitined wid, f: Fado Atlanta, CA "The ldd`Pub h^,;m^'d,pth and lit, ius,vohnu`, If you are interested in learning '"ore about the Irish Pub Concept, please contact: properties, ltd. 269 market square lake tore, t Illinois 60045 phone (1847) 234,1477) or Thu Guinness Import ComnanN Commercial Development Department 6Landrnark Sgnana Stamford, CTO890 (203) 359-7276 please We: This /"tr(d"*,.'.,^^,'�,'°*'.`..`',-`�''',^_'..�,=,'�,�`'~``. . 1.5 The "Inn" (Continued.) All of the rooms will have double telephone service with fax modem and internet ports wired to the Inn's Office Center to facilitate business transactions and duplication of documents. Five (5) Guest Suites named alter prominent families from County Mayo, each with their own Irish Pub Corners to facilitate suite entertaining, are included in the 52 guest accommodations at the Inn. There will be seven (7) conference rooms including an exquisitely furnished board room - The Ashford- Croaghpatrick Room - with a peat burning fireplace, to support the operation of the Inn. There will be one reception area for both the Inn and Pub. (As part of the Irish custom, there will even be a "back door" to the Pub that the regular customers may favor.) In addition, there will be a Blarney Irish Gift Shop that will feature traditional Irish merchandise including Waterford Crystal, Beleek China, Claddagh gold and silver jewelry, and the favorite Irish sweaters, caps, shawls and scarves. Other areas of the shop will feature Irish books, CD's and tapes, together with County Mayo Merchandise. The Blarney Irish Gift Shop will be operated by the Owner of several very successful Blarney Irish Gift Shops in the Chicago area to allow cross - merchandising between such established stores and County Mayo's Blarney Irish Gift Shop. (SEE: The Blarney Shuffle Graphic) The COUNTY MAYO IRISH INN & PUB at South Bend will be one of the first traditional Irish Pubs to combine the "IPC" with full service overnight lodging. The IPC has been successfully launched in the Chicago area with the free standing Irish Pubs addressed above which have all reported annualized sales volumes in excess of $2 million. As noted, the Irish Lodging component has not been launched in the South Bend area. However, several successful Irish Inns and Pub have been developed in Wisconsin. The County Clare Irish Inn & Pub in downtown Milwaukee, developed by Classic Inns of Wisconsin approximately four (4) years ago, has enjoyed a huge success since opening and is frequented by many Chicago area residents. Our County Mayo location cn Milwaukee Avenue in Vernon Hills, Illinois, scheduled for construction in March, 2001 , has been received very well prior to its construction with local business men and potential patrons already seeking to effect reservations in this offering. Our marketing for County Mayo at South Bend will benefit from the marketing efforts made for County Mayo/Vernon Hills and Walsh's Irish Pub scheduled for construction in March, 2001 in Rockford, Illinois. 1.6 Owner's Legal ,Structure County Mayo Irish Inn & Pub, LLC is a limited liability company organized under the Illinois Limited Liability Company Act. This legal structure allows the entity the ease of operation of a partnership, but have the protection of a corporation. A similar Limited Liability Company titled County Mayo /South Bend, LLC will be incorporated as the Owner entity for the proposed County Mayo Irish Inn & Pub /South Bend. ESA 4.J .�i S� Cd u W CIS Ell 1.7 Developer and Management Team JF +A Properties, Ltd. /CII ( "JF +A ") of Labe Forest, Illinois, an affiliate of James Follensbee + Associates, Ltd., is the developer of County Mayo Irish Inn & Pub and the adjacent Woodbine Office Center, a two - story, 38,000 Square Foot Classical Office Building to be located just south of County Mayo on an adjacent site, located in Vernon Hills, Labe County, Illinois; and Walsh's Irish Pub located in Rockford, Winnebago County, Illinois, and the proposed County Mayo Irish Inn & Pub at South Bend, Indiana. JF +A's management team consists of James Follensbee, President, a registered architect for over forty years, Judy Follensbee, Executive Vice President and Marketing Coordinator, Thomas A. Marcet, CPA, Chief Financial Officer, with over 30 years experience in corporate finance and the hospitality business, and Marl Eiden, Esq., a principal in the firm 1 of Eiden & O'Donnell, Ltd. Technical support, architectural, engineering, planning and interior design services is provided to JF +A by James Follensbee + Associates, Ltd. and its consulting engineers. JF +A and its affiliates have successfully developed Adult Congregate Living Facilities ( "ACLF "s), Independent and Assisted Living Facilities, Market Rate Rental Apartments, Office Buildings, and a variety of Planned Unit Developments, in addition to large Residential Communities and custom single family homes. An Executive Summary of James Follensbee owned corporations and affiliates has been respectfully included as an exhibit with this Preliminary Development Profile for the South Bend Re- Development Commission and Authority and its staff. 1.8 Project Architect James Follensbee + Associates, Ltd. ("JFA!'), an Architectural, Planning & Engineering Firm located in Labe Forest, Illinois will function as the Project Architect and Project Coordinator for County Mayo Irish Inn & Pub, LLC. JFA, formed in 1968, is in its 34th year of operations _ and is licensed to practice in all states by virtue of its NCARB National Certificate. JFA will employ several consulting firms to facilitate the professional design and construction of County Mayo, including Engineering Consultants, Ltd., Project Mechanical & Electrical Engineers, Beer Gorski & Graff, Ltd., Project Structural Engineers, Byczek Enterprises, Commercial Kitchen Designers, and Gemmell, Griffin & Dunbar, Ltd., pub designers and out - fitters from Dublin, Ireland, among other firms which have worked with JFA over the past twenty years. ES.5 1.9 Irish Pub Design Firm Gemmell Griffin & Dunbar, Ltd. ( "GGD ") of Dublin, Ireland will function under contract with County Mayo Irish Inn & Pub, LLC as the Irish Pub Design Firm and will assist the Construction Manager's work forces in the actual construction of the bar casework, special ceilings, display cases, snugs, and all the Irish Corner Pubs located in the five suites, in addition to special door casework for the entrance to Walsh's Pub, Cockles Restaurant and the Blarney Irish Gift Shop. The GGD firm established in 1980 and incorporated in 1985, has established itself as the market leader in the providing of the highest quality design and furnishing of Irish Pubs worldwide, including several recently opened pubs in the U.S. and Canada. (SEE: County Mayo Casework Graphic) 1.10 The Pub's and Inn's Design County Mayo Irish Inn & Pub will feature teakwood stained in a mahogany finish in the Victorian style of many elegant pubs located throughout Ireland and will feature custom designed and fabricated stained glass windows and screens with classical recessed coffered ceilings and Victorian lighting fixtures. Flooring will consist of green porcelain floors, walnut hardwood hand stroked floors both planked and inlayed with special ceramic tiles to establish a quality Irish Victorian Pub ambience. The Pub will consist of a dining area named "Cockles ", a large Snug with peat burning fireplace named in honor of a significant Irishman from South Bend., Indiana to be chosen, and "Walsh's Pub" in the actual bar area with another peat burning fireplace and a variety of table and snug seating options. The Inn will feature classic Georgian Style Architecture with white stucco finish, green roofing & window frames and classic Pub Signage; entrances and casework features with the basic building system utilizing the Matrix System Precast Aerated Autoclaved Concrete ( "PAAC ") which provides excellent insulating values, sound attenuation and - fire resistant qualities to the construction. Irish Family Crests from County Mayo will be featured in the. facade treatment in addition to stained glass windows overlooking the outdoor dining area facing the 18th hole and adjacent ponds of the Blackthorn Golf Course. Existing trees will be incorporated into the construction to the degree feasible with additional landscaping and site improvements to establish the Irish character of the Inn & Pub. (SEE: Interior Furnishings and Stained Glass Design Graphics) ES-6 iy 2 � ��'.. � � ��. :.: pdµ f.:o •�� £: s own p $, �4. 1.11 Project Financing JF +A Properties, Ltd. /CII, Manager, for the proposed County Mayo Irish Inn & Pub /South Bend has arranged for 100% equity financing for this proposed Venture with its investment partner, Parkhurst Development of West Vancouver, B.C., Canada, who currently is participating in several real estate developments with JF +A Properties, Ltd. /CII and its affiliates, and provides its equity investments through its merchant bank - R -Banx Capital Corporation of Calgary, Alberta, Canada and the Toronto Dominion Bank (T.D. Bank) of Toronto, Canada. Parkhurst Development is controlled by a private family in Canada who has real estate holdings worldwide and will function as an investment partner with JF +A Properties, Ltd. /CII in this proposed Venture. JF +A Properties, Ltd. /CII will oversee the construction with a U.S. Bank and Chicago Title Company functioning as our construction disbursement entities during construction. JF +A Properties, Ltd. /CII will be solely responsible for the management of the completed facility with its corporate officers and on- site management team. 1.12 Project Schedule Assuming that JF +A Properties, Ltd. /CII may receive a favorable hearing and approval by the South Bend Re- Development Commission & Authority and its staff to our proposal to purchase Lot #3 to develop County Mayo Irish Inn & Pub, and is able to effect a mutually f agreeable Purchase Contract after such acceptance of our proposal, JF +A Properties, Ltd. /CII is prepared to purchase the development site and immediately commence its Contract Documents for all applicable approvals and competitive bidding. It is anticipated that such development activities may be completed on or before early June, 2001, with construction commencing immediately thereafter insofar as financing has been previously arranged. Construction and furnishing of County Mayo is anticipated to take twelve (12) months due to the quality and finish casework involved in this Venture, with a projected completion date in Summer, 2002. 1.13 Final Development Profile and Suhmission of Proposal Forms This Preliminary Development Profile is intended to indicate JF +A Properties, Ltd. /CII's interest in purchasing Lot #3 from the South Bend Re- development Commission & Authority, while it completes its final Development Profile and Proposal Forms for formal submission with all required attachments to the South Bend Re- Development Commission & Authority ( "SBRC&A ")and its staff. ES.7 1. 14 Location Maps: The following Location Maps, immediately after this page, disclose the subject site and surrounding improvements: • Partial Map State of Indiana showing proposed Lot 3 - Blackthorn Corporate Park • Detail Map - Blackthorn Corporate Park and Golf Course • Detail Map - Blackthorn Corporate Park & Golf Course. JF +A Properties, Ltd. /CII's formal submission will he tendered prior to the end of February as required for consideration of the SBRC&A and its staff at its first meeting in March, 2001, per our confirmation with Mr. Owen Rock, Assistant Director, Division of Economic Development, City of South Bend,, Indiana. I Es.s S I �1-44 0-5 0. It I pIr UJI L, s �!E n t 12 Nt. cn IIII r _ _ j -MT ca -44, ca m�n�au 9ThllopaJAaRiio� TIOYIO >IIV17d wvia II `agaq fimog a0 juD z Co9iytZ(Uti YYH /Lti-YFG(L4RJ 1LL73LVliOd1[07 IRMOHIMVX sva�v siohII7II :isaxoa �IKi q1p ��g)ww15►aoe eld9n 'ml�¢Yt7 s�'�di1.Yovdv a( 8nd�i N[jII HSnII .T--i Y �.n6.ea u'Ra /m S � L n; )- n'enavXMHSMOXViaxiNnO:) OIKVW Lt, ' 96•S � n 1081 elms o ° Ell O � V V � vvv �q a� 0 cn A� U� O v, O � Cyr 11b lb Hill f i lop / Ise pry °�`�� O c1f�1'•13� ?7 Q'iO,dO �`' q I IN Ran lmmrju so Ay ! l� ir4 9 u ZIP OO No:>- 10y@vd(df.-1m`I'd yNVTQt'a -(Igaq HinoS dO .UID �v 4091-K7(Lt9 ) xva wirocz(LRO 56009 SION M `15$UOd Tr'"I -)LU SLV -ao"OD NUGHIN'JH'18 3vy[1Zi1S Jmrir f692 +df £ ��� rUJ•Qy7'S311y3dONd Y v(� 1-rl'i (!49) RucUd 9►008 R�Bt»AI RyR� • R�ROtz mrVew 9P2 H�Si�lI7I t(`1�V r� Ise�ol KdN�610 uo6UBUR alRUUeld • *Ve114�1R -Hlld'.' 79�f1�d7M�P7h1C7t�I OA VW Y `L LL-VNfloo "all CelRtxsvR Y RwQ9UR��0J eaUlR( 'J"7"7 NPII HS[Nl O CYSV A1N(lOJ f i lop / Ise pry °�`�� O c1f�1'•13� ?7 Q'iO,dO �`' q I IN Ran lmmrju so Ay ! l� ir4 9 u ZIP OO �v ll11'' : 4 LLa o _ � tai ,t ,.t 0 SETTLEMENT AGREEMENT AND RELEASE This Agreement is made and entered into this day of , 2006 between the SOUTH BEND REDEVELOPMENT AUTHORITY ( "SBRA ") and MARATHON PIPE LINE LLC, a Delaware limited liability company ( "MPL "): RECITALS WHEREAS, MPL owns (i) that Right of Way Agreement granted 5/15/1957 and recorded 5/27/1957 in the St. Joseph County Recorders Office at Book 567, pages 113 -114, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328170 (collectively, "Easement No. F); (ii) that Right of Way Agreement granted 6/8/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 21, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328168 (collectively, "Easement No. 2 "); and (iii) that Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 19, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328169 (collectively, "Easement No. 3 "; and collectively with Easement No. 1 and Easement No. 2, the "Pipeline Easements "); and WHEREAS, the SBRA owns several parcels of property encumbered by the Pipeline Easements, which property is more particularly defined and described at Exhibit A (the "Site ") and is depicted at Exhibit B; and WHEREAS, the SBRA desires to provide for the development of Lot 3A and a portion of Lot 7 (as such terms are defined in Exhibit A and depicted at Exhibit B) as depicted at Exhibit C identified infra as a hotel it believes complimentary to the uses of the surrounding golf course and office park (collectively, the "Hotel Site "); and WHEREAS, the SBRA contends it is obligated to convey the Hotel Site to the South Bend Redevelopment Commission (the "Commission ") pursuant the terms of a certain agreement previously executed between the SBRA and the Commission, and in anticipation thereof, the Commission has entered into a certain Contract for Sale of Land for Private Development, by and among the Commission, JF +A Properties, Ltd. /CII &P and County Mayo /SB, LLC (collectively, the "Developer "); and WHEREAS, the SBRA and the Developer anticipate conducting improvements on the Hotel Site, including portions of the Hotel Site subject to the Pipeline Easements, pursuant to the plans and specifications set forth at Exhibit C (the "Proposed Developer Improvements "); and WHEREAS, an asphalt drive that runs through the Easement No. 1 has been constructed on Lot 1 B and Lot I C subsequent to the execution of Easement No. 1 (the "Asphalt Drive "), which MPL contends was constructed without MPL's consent and infringes upon its rights set forth in said Easement No. 1; and WHEREAS, the SBRA desires for the Asphalt Drive to exist under the conditions and for Page 1 of 6 ' s .1. • the consideration set forth in the Easement Amendment With License attached hereto as Exhibit D and to provide for the Proposed Developer Improvements depicted at Exhibit C under the terms and conditions of the Development Agreement attached hereto as Exhibit E; WHEREAS, the owner of the property commonly referred to as Lot IA depicted at Exhibit B and more particularly described at Exhibit F constructed a building closer than fifty (50) feet of the pipeline against MPL's express requests and recommendations and without the written consent required pursuant to Easement No. 1 (the "Lot IA Encroachment "); and WHEREAS, the Pipeline Easements currently provide MPL, among other rights, rights with respect to certain restrictions on the uses of the property within thirty (30) feet of the MPL's pipeline as it lays at the time of the recording of this Agreement; and WHEREAS, MPL desires an option to relocate a portion of its pipeline currently located within the boundaries set forth in the Pipeline Easements as amended to ensure a minimum fifty (50) foot setback from the building constructed on Lot lA in contravention of said setback requirement and against MPL's express requests and recommendations, thereby resolving any remaining dispute that may exist between the SBRA and MPL regarding the Lot IA Encroachment; and WHEREAS, MPL, among other things, desires to prohibit impediments to the safe and efficient operation, maintenance, repair, and replacement of its pipeline, and to compliance with •laws and regulations governing pipelines and their operation, including, but not limited to, buildings, structures and other obstructions within fifty (50) feet of the pipeline to the extent it is not already entitled to do so pursuant to the Pipeline Easements; and WHEREAS, the SBRA considers the use of and revenues from the golf course on Lot 7 (as defined at Exhibit A) of great importance to the Commission and the SBRA in part because the SBRA represents that golf course is subject to financing obligations dependent upon the continued use and receipt of revenues for such use. The SBRA states that the off - season of the golf course is between November 1 and March 31; and WHEREAS, MPL considers the Pipeline Easements to be a valuable and essential asset, and both the safe and efficient operation of its pipelines and its full use and enjoyment of the Pipeline Easements of great importance; and WHEREAS, the SBRA and MPL desire to resolve any remaining disputes known to date that exist between the parties regarding the Asphalt Drive and the Proposed Developer Improvements on Lot 3A and the portion of Lot 7 as set forth at Exhibit C; NOW THEREFORE: 1. EASEMENT AMENDMENT WITH LICENSE. In consideration of the foregoing and following mutual promises and representations, the SBRA and MPL agree to amend the Pipeline Easements as provided by the Easement Amendment With License for the Asphalt Drive attached as Exhibit D. Said Easement Amendment With License shall be executed contemporaneously with this Agreement. The SBRA shall record the Easement Amendment With License before any transfer, sale, assignment or other divestment of any interest in and /or title to any portion of the Site, but in any event, no later than two (2) business Page 2 of 6 days of the receipt of a complete and fully executed original of this Agreement, so that the Easement Amendment With License appears in the chain of title of any and all subsequent owners of any and all property encumbered by each of the Pipeline Easements, specifically, Easement No. 1, Easement No. 2 and Easement No. 3. The SBRA shall provide a minimum of four (4) copies of the recorded original Easement Amendment With License fully executed by the SBRA to MPL within three (3) business days of the SBRA's receipt of the recorded original Easement Amendment With License's recording. 2. DEVELOPMENT AGREEMENT. In consideration of the foregoing and following mutual promises and representations, the SBRA and MPL agree to execute the Development Agreement attached as Exhibit E. The SBRA shall further obtain the authorized signature of each Developer acknowledging its review of and agreement to be bound by the Development Agreement. Said Development Agreement shall be executed by MPL within fifteen (15) business days of its receipt of proof of the successful recording of the Easement Amendment With License together with a written warranty from the SBRC covenanting that it remained the owner of the Site and all portions thereof from the date the Easement Amendment With License was executed until after its recording, and that it did not transfer, sell, assign or otherwise divest itself of its ownership interest in any land, or any portion thereof, encumbered by any of the Pipeline Easements as amended before the Easement Amendment With License was recorded. The SBRA shall record the Development Agreement within thirty (30) days of its execution and shall provide a minimum of four (4) copies of the recorded original Development I* Agreement fully executed by the SBRA to MPL within ten (10) days of the Development Agreement's recording. The SBRA shall not sell, assign, transfer or otherwise divest itself of its fee simple interest in and title to Lot 3A and the portion of Lot 7 impacted by the Development Agreement until the Development Agreement is successfully recorded so that the Development Agreement appears in the chain of title of any and all subsequent owners of any and all property impacted by the Development Agreement. 3. RELEASE. Effective with the successful recording of the Easement Amendment With License and the Development Agreement attached hereto as Exhibits D and E, respectively, as set forth in numbered paragraphs 1 and 2 above, and not before, MPL and the SBRA mutually release each other and no other person or entity from any Claim relating to or arising from any act or omission of the other involving the Lot lA Dispute from the time the pipeline was laid to the date of this Agreement to the extent such a dispute exists. "Claim" includes without limit any claim, liability, loss, damage, cost or expense and includes without limit such for personal injury or death, property damage, environmental damage, remediation, lost business and /or profit and lost use. Nothing in this Agreement shall be construed to release any claim or right against any owner, occupant or invitee of Lot IA or any damage to the pipeline that may have been caused by the construction of the Asphalt Drive over the pipeline on Lot 1 B and Lot 1 C. 4 WARRANTY. The SBRA covenants that: (i) the SBRA owns the Site in fee simple absolute and has right, title and power to grant the rights granted herein; (ii) MPL shall quietly enjoy its Pipeline Easements as amended by the Easement Amendment With License; and (iii) the SBRA shall execute any further necessary assurance of title and documents required to effect recording of the Easement Amendment With License and Development Agreement, respectively. Any individual signing this Agreement in a representative capacity further Page 3 of 6 • • warrants full authority and power from the purported principal to fully bind the principal to all terms and conditions contained herein. 5. EFFECT OF AGREEMENT. It is understood that the SBRA intends to convey certain portions of the Site to the Commission after recording the Easement Amendment With License and the Development Agreement and that the Commission further intends to dispose of portions of the Site to provide for its development. This Agreement shall bind and benefit the parties' heirs, legal representatives, successors and assigns. Subsequent to the successful recording of the Easement Amendment With License and Development Agreement, any rights granted hereunder are divisible and assignable in whole or part and any obligations incurred hereunder shall follow the underlying property. Subsequent to the successful recording of the Easement Amendment With License and Development Agreement and their incorporation into the applicable chain(s) of title prior to the SBRA's transfer, sale, assignment or other divestment of its interest and title to any portion of the Site, any violation of the rights or obligations set forth in this Agreement or the Easement Amendment With License or the Development Agreement regarding one parcel of the Site shall not effect the rights or obligations of the parties with respect with respect to another parcel of the Site. This Agreement's terms shall be independent of, and unless otherwise expressly stated, survive execution of any further agreements. If any provision of this Agreement is deemed void, invalid, or unenforceable by a court or tribunal of competent jurisdiction, such provisions shall be stricken without effect on the remaining provisions. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof or preclude the exercise of any other right, power, or privilege hereunder. This Agreement shall be construed and interpreted according to the laws of the State of Indiana. (the remainder of the page is intentionally left blank) Page 4 of 6 r� Marathon Pipe Line LLC By: (Signature) Nathan H. Muehl (Printed Name) Its: Manager, Damage Prevention & R /O/W Relations (Title) Witnessed by: (Witness #1 Signature) (Witness #1 Printed Name) (Witness #2 Signature) (Witness #2 Printed Name) State of Ohio } } ss. County of Hancock } Before me, a notary public, this day of 2006, personally appeared Marathon Pipe Line LLC, by Nathan H. Muehl, its Manager, Damage Prevention & R /O/W Relations, and acknowledged the execution of the foregoing instrument for and on behalf of Marathon Pipe Line LLC, and and who also witnessed the execution thereof. (SEAL) My commission expires: Ll (Notary Public Signature) (Printed Name) Page 5 of 6 • South Bend Redevelopment Authority By: (Signature) (Printed Name) Its: (Title) WITNESSED BY: (Witness #1 Signature) 1 Its Secretary (Witness #2 Signature) (Witness #2 Printed Name) State of Indiana } ss County of St. Joseph } Before me, a notary public, this day of , 2006, personally appeared the South Bend Redevelopment Authority, by its , and , its Secretary, and and acknowledged the execution of the foregoing instrument for and on behalf of the South Bend Redevelopment Authority. (SEAL) (Notary Public Signature) (Printed Name) My commission expires: Prepared by Barbara J. Meier, Attorney, Barnes & Thornburg, 11 S. Meridian Street, Indianapolis, Indiana 460204 and Shawn E. Peterson, Assistant City Attorney, City of South Bend, Indiana, 1400 County -City Building, 227 W. Jefferson Blvd. South Bend, IN 46601. Page 6 of 6 EXHIBIT A Legal Description of Site The Site, as defined in this Agreement, shall consist and apply to only the following parcels: Lot 1B Lot 1 B Blackthorn Corporate Office Park Minor #3 recorded October 30, 1995, Record Number 9536275 (Such property shall be referred to herein as "Lot 1B ".) Lots 1C Lot 1 C Blackthorn Corporate Office Park Minor 43 recorded October 30, 1995, Record Number 9536275 (Such property shall be referred to herein as "Lot 1 C ".) Lot 3A Lot 3A Blackthorn Corporate Office Park Major Subdivision #Two Section Three, recorded May 29, 2001 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 0123942 40 Such property shall be referred to herein as "Lot 3A ". ( p P Y ) Lot 7 Lot 7 Blackthorn Corporate Office Park. recorded October 7, 1994 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 9438010 (Such property shall be referred to herein as "Lot 7 ".) Lot 8 Lot 8 Blackthorn Corporate Office Park Minor Sub #7 recorded 7/13/98, Record Number 9836274 ( "Lot 8 ") (Such property shall be referred to herein as "Lot 8 ".) 0 t t • EXHIBIT B Diagram of Site t 0 EXHIBIT C Proposed Developer Improvements EXHIBIT D Form of Easement Amendment With License t • • • EXHIBIT E Form of Development Agreement �J EASEMENT AMENDMENT WITH LICENSE This Agreement is made and entered into this _ of , 2006 between the SOUTH BEND REDEVELOPMENT AUTHORITY (the "Grantor ") and MARATHON PIPE LINE LLC, a Delaware limited liability company (the "Grantee "): WHEREAS, the Grantee owns (i) that Right of Way Agreement granted 5/15/1957 and recorded 5/27/1957 in the St. Joseph County Recorders Office at Book 567, pages 113 -114, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328170 (collectively, "Easement No. I "); (ii) that Right of Way Agreement granted 6/8/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 21, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328168 (collectively, "Easement No. 2 "); and (iii) that Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 19, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328169 (collectively, "Easement No. 3 "; and collectively with Easement No. 1 and Easement No. 2, the "Pipeline Easements "); and WHEREAS, Grantor owns several parcels of property encumbered by the Pipeline Easements, which property is more particularly defined and described at Exhibit A (the "Site ") and depicted at Exhibit B; and WHEREAS, the "existing asphalt entrance drive" as depicted in Exhibit B that crosses and is subject to Easement No. 1 (the "Asphalt Drive ")was constructed on Lot 1 B and Lot 1 C without Grantee's consent; and NOW THEREFORE, in consideration of the following mutual promises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantee is willing to permit the Asphalt Drive to so encroach upon Grantee's Easement No. 1 as depicted in Exhibit C and Grantor and Grantee agree to amend the Pipeline Easements as follows: 1. EASEMENTS. Grantor hereby grants an additional twenty (20) feet of easement on either side of outermost boundaries of the Pipeline Easements as they currently exist, for a total easement extending fifty (50) feet on either side of the pipeline as it currently exists, under the same terms, for the same purposes and with the same understandings, rights of ingress and egress, and covenants as presently set forth in said Pipeline Easements (a) except that the express right of Grantee herein (successor to Marathon Pipe Line Company, identified in said Pipeline Easements pursuant to the 1993 amendments as "Grantor ") to control vegetation under the Pipeline Easements as amended by this Agreement shall be limited to thirty (30) feet on either side of the pipeline; and (b) except that Easement No. 1 as amended shall increase to include the portions of Lot 113 and Lot 7 shaded at Exhibit C to allow for the option of relocating the pipeline to the approximate center of Easement No. 1 as amended by this Agreement (Easement 1, Easement No. 2 and Easement No. 3 as amended by this Agreement, collectively, the "Amended Pipeline Easements "). This Agreement shall not be construed to affect or release the Page 1 of 5 • Pipeline Easements on property other than the Site. The irrigation pumping station depicted at Exhibit D, to the extent it may be considered an encroachment to the Amended Pipeline Easements as a result of the additional easement width granted under this Section, shall not be considered an encroachment to the Amended Pipeline Easements. The Grantor expressly reserves its right to the full use and enjoyment of the Site subject to the Grantee's full use and enjoyment of the Amended Pipeline Easements. Grantor represents that the Grantor currently uses a portion of Lot 7 (as defined in Exhibit A and depicted in Exhibit B) as a golf course, and that the current off - season of the golf course is between November 1 and March 31. Notwithstanding the foregoing sentence, nothing shall prevent or delay the Grantee from performing maintenance and repairs that the Grantee determines to be necessary or advisable in the Grantee's sole discretion. Grantee shall continue to use reasonable efforts to schedule improvements or upgrades of its pipeline(s) to the extent practical and prudent to minimize interference with the golf course's business. 2. LICENSE. The Grantee hereby permits the Grantor to operate and maintain the Asphalt Drive depicted at Exhibit C subject to the terms of this Agreement. Grantor acknowledges that this or any other license or consent notwithstanding, anything constructed or existing within the Amended Pipeline Easements may be damaged, destroyed or removed due to Grantee's exercise of easement rights, and does and shall fully release Grantee from any liability arising from such damage, destruction or removal, including, but not limited to, any liability for lost business and /or profit and lost use. Grantee shall use reasonable care to minimize damage to Grantor's facilities. Grantor shall ensure that the Asphalt Drive and its use, any encroachment that may be authorized by the Grantee in the future and its use, and any activity by or on behalf of the Grantor (the "Grantor activities ") within the Amended Pipeline Easements do not interfere with or disrupt Grantee's operations or its pipeline(s), and that Grantor's activities and facilities comply with all applicable Federal, State, and local laws, regulations, ordinances in effect at the time, and, absent written consent to the contrary, with Grantee's applicable operational rules and policies, both as said operational rules and policies exist at the time of this Agreement's recording and as they may be revised from time to time to ensure compliance with all applicable laws, regulations, ordinances and requirements of agencies governing the Grantee's pipeline(s) and operations, and effect the safe and efficient operation of Grantee's pipelines. Copies of the Grantee's operational rules and policies applicable to Grantor activities shall be furnished to the Grantor upon request as Grantor activities are identified to Grantee. The license provided under this Section shall be irrevocable unless the Grantor's use of the permitted improvement is abandoned, voluntarily removed, ordered removed by any court or governmental agency or authority, or materially violates any term of this Agreement. It is expressly acknowledged and agreed that if an applicable Federal, State, or local law, regulation, or ordinance is amended or enacted without an applicable grandfather provision resulting in the Grantee's operation, maintenance or use of its pipeline and enjoyment of the Amended Pipeline Easement being further restricted as a consequence of the use permitted under this Section, the license granted pursuant to this Section shall be immediately revocable to the extent necessary to comply with said law, regulation or ordinance without cost or damage to the Grantee. If Grantee elects to revoke a license, Grantee shall provide written notice of the revocation and reason(s) therefore to the Grantor. If the license is properly revoked pursuant to the terms of this Section, Page 2of5 • • the Grantor shall be solely responsible to cure or remove any offending improvement(s) within thirty (30) days of receipt of notification. If cured, the license revoked shall be reinstated under the same terms and conditions for the offending improvement as altered. Grantor shall indemnify and hold Grantee harmless for any claims, damages, losses, costs and expenses, including reasonable attorneys' fees, resulting from Grantor's failure to cure or remove any offending improvement within thirty (30) days of Grantor's receipt of the written notice of a properly grounded license revocation as provided herein. 3. INDEMNITY AND RELEASE. To the maximum extent permissible by law, the Grantor shall indemnify, defend and hold harmless the Grantee, its affiliates and their employees, contractors and agents from any Claim relating to or arising from (i) any activity by or on behalf of the Grantor within the Site or (ii) the existence or operation of any encroachments of the Amended Pipeline Easements, together with any appurtenances thereto, on the property owned by the Grantor within the Site. Further, Grantor releases Grantee from any Claim arising from any act or omission of the Grantee related to the pipeline laid within the Pipeline Easements amended by this Agreement from the time the pipeline was laid to the date of this instrument. "Claim" includes without limit any claim, liability, loss, damage, cost or expense and includes without limit such for personal injury or death, property damage, environmental damage, remediation, lost business and /or profit and lost use. 4. WARRANTY. Grantor covenants that: (i) Grantor owns the Site in fee simple absolute and has right, title and power to grant the rights granted herein; (ii) Grantee shall quietly enjoy its Amended Pipeline Easements; and (iii) Grantor shall execute any further necessary assurance of title and documents required to effect recording of this Easement Amendment With License. Any individual signing this agreement in a representative capacity further warrants full authority and power from the purported principal to fully bind the principal to all terms and conditions contained herein. 5. EFFECT OF AGREEMENT. This Agreement shall be effective upon recording and shall survive the termination of any license granted above. This Agreement shall run with the land and bind and benefit the parties' respective heirs, legal representatives, successors and assigns. The easement and license rights granted and obligations incurred hereunder are divisible and assignable in whole or part, and shall follow the underlying property. Any violation of the rights or obligations set forth in this Agreement regarding one parcel of the Site shall not effect the rights or obligations with respect to another parcel of the Site. This Agreement's terms shall be independent of, and unless otherwise expressly stated, survive execution of any further agreements. If any provision of this Agreement is deemed void, invalid, or unenforceable by a court or tribunal of competent jurisdiction, such provisions shall be stricken without effect on the remaining provisions. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof or preclude the exercise of any other right, power, or privilege hereunder. This Agreement shall be construed and interpreted according to the laws of the State of Indiana. (the remainder of the page is intentionally left blank) Page 3 of 5 Marathon Pipe Line LLC By: (Signature) Nathan H. Muehl (Printed Name) Its: Manager, Damage Prevention & R /O/W Relations (Title) WITNESSED BY: (Witness #1 Signature) (Witness #1 Printed Name) (Witness #2 Signature) (Witness #2 Printed Name) State of Ohio } } ss. County of Hancock } Before me, a notary public, this 2006, personally appeared Marathon Pipe Line LLC, by Nathan H. Muehl, its Manager, Damage Prevention & R /O/W Relations, who acknowledged the execution of the foregoing instrument for and on behalf of Marathon Pipe Line LLC, and and , who also witnessed the execution thereof. (SEAL) My commission expires: Ll (Notary Public) (Printed Name) Page 4 of 5 ' 4 South Bend Redevelopment Authority By: (Signature) (Printed Name) Its: 0 (Title) WITNESSED BY: (Witness #1 Signature) 1 Its Secretary (Witness #2 Signature) (Witness #2 Printed Name) State of Indiana ) ss County of St. Joseph ) Before me, a notary public, this day of '2006, personally appeared the South Bend Redevelopment Authority, by its ' and , its Secretary, and and acknowledged the execution of the foregoing instrument for and on behalf of the South Bend Redevelopment Authority. (SEAL) (Notary Public Signature) (Printed Name) My commission expires: Prepared by Barbara J. Meier, Attorney, Barnes & Thornburg, 11 S. Meridian Street, Indianapolis, Indiana 460204 and Shawn E. Peterson, Assistant City Attorney, City of South Bend, Indiana, 1400 County -City Building, 227 W. Jefferson Blvd. South Bend, IN 46601. Page 5 of 5 • • EXHIBIT A Description of the Site The Site, as defined in this Agreement, shall consist and apply to only the following parcels: Lot 1B Lot 1 B Blackthorn Corporate Office Park Minor #3 recorded October 30, 1995, Record Number 9536275 (Such property shall be referred to herein as "Lot 1B ".) Lots 1C Lot 1 C Blackthorn Corporate Office Park Minor #3 recorded October 30, 1995, Record Number 9536275 (Such property shall be referred to herein as "Lot 1 C ".) Lot 3A Lot 3A Blackthorn Corporate Office Park Major Subdivision #Two Section Three, recorded May 29, 2001 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 0123942 (Such property shall be referred to herein as "Lot 3A ".) Lot 7 Lot 7 Blackthorn Corporate Office Park. recorded October 7, 1994 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 9438010 (Such property shall be referred to herein as "Lot 7 ".) Lot 8 Lot 8 Blackthorn Corporate Office Park Minor Sub #7 recorded 7/13/98, Record Number 9836274 ( "Lot 8 ") (Such property shall be referred to herein as "Lot 8 ".) 0 EXHIBIT B Site Survey • �J EXHIBIT C Survey of Additional Easement Area Providing for Pipeline Relocation • DEVELOPMENT AGREEMENT THIS Agreement is made and entered into this day of , 2006 by the South Bend Redevelopment Authority, 1200 County -City Building, 227 W. Jefferson Blvd., South Bend, Indiana ( "Owner ") and Marathon Pipe Line LLC, 539 South Main Street, Findlay, Ohio, 45840, a Delaware limited liability company ( "Company "), and is effective upon successful recording prior to the Owner's transfer, assignment, sale or other divestment of its fee simple interest and title in the parcels identified infra. Furthermore, this Agreement has been acknowledged by the South Bend Redevelopment Commission, JF +A Properties, Ltd. /CII &P and County Mayo /SB, LLC (collectively, the "Developer ") and agreed to be bound by its terms. WHEREAS, the Company owns (i) that Right of Way Agreement granted 6/8/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 21, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328168, and as further amended by the Easement Amendment With License executed as of and recorded at the St. Joseph County Recorder's Office as Record Number (collectively, "Easement No. 2 "); and (iii) that Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County Recorders Office at Book 568, page 19, as amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328169 and as further amended by the Easement Amendment With License executed as of and recorded at the St. Joseph County Recorder's Office as Record Number (collectively, "Easement No. 3 "; and collectively with Easement No. 2, the "Pipeline Easements "); and WHEREAS, Owner owns certain land designated Lot 3A and a portion of Lot 7, which are described at Exhibit A and depicted at Exhibit B, burdened by the Pipeline Easements (the "Site "); and WHEREAS, Owner requests that it be allowed to develop the Site which is burdened by the Pipeline Easement as a hotel and the Company wishes to maintain proper standards for this Site development for a hotel and protect its pipeline and Pipeline Easements. NOW, THEREFORE, for and in consideration of the following mutual promises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Owner and Company agree as follows: 1. OWNER ACTIVITY. Owner shall ensure that all construction activity by or on behalf of Owner and the operation and maintenance of any encroachment consented to under this Agreement and its use by or on behalf of the owner, and any encroachment that may be consented to by the Company in the future and its use ( "Owner Activity or Activities ") are conducted in accordance with the Company's applicable operational rules and policies in Page 1 of 8 effect at the time of the Owner Activity, absent written consent to the contrary, and do not disrupt or interfere with the Company's operations or pipeline(s). Copies of applicable rules and policies shall be furnished to Owner upon request. Owner shall further ensure that Owner Activities and resulting work comply with all applicable Federal, State and local laws, regulations and ordinances in effect at the time. Owner shall provide written plans to the Company in advance of all Owner Activity involving any construction work, including, but not limited to, work involving the installation or relocation of any utility, water or waste system, in the Pipeline Easements and shall not begin any such Owner Activity until the Company Engineer or his/her Inspector approves the Owner Activity in writing. Failure to obtain written approval for any Owner Activity or to comply with issues of safety with respect to the pipeline and Company's employees, agents and representatives will result in the shutdown of all Owner Activity at the Site within or impacting the Pipeline Easements or pipeline, including, without limitation, all construction traffic over the Pipeline Easements, at Owner's expense and Owner Activities may not re -start until Owner presents a plan of remediation and same is approved by Company in writing. Owner acknowledges that anything constructed or existing within fifty (50) feet of the pipeline may be damaged, destroyed or removed due to the Company's exercise of easement rights, and does and shall fully release the Company from any liability arising from such damage, destruction or removal, including, but not limited to, any liability for lost business and /or profit and lost use. The Company shall use reasonable care to minimize damage to Owner's resulting facilities. 2. APPROVED PLANS, Exhibit C. Approved Plans as of the date of this agreement are attached as Exhibit C (plans and specifications for certain utility relocations) and D (plans and descriptions for the development of Lot 3A and a portion of Lot 7 as a hotel) (collectively "Developer Improvements "). Exhibits C and D may be altered or additions made by review of both parties and approval being given by the dated signature of the Owner, or his Engineering Representative, and the Company Engineer or his/her Inspector. 3. REIMBURSEMENT FOR ALL COSTS. Owner shall reimburse Company for all costs and expenses reasonably incurred by Company subsequent to the recording of this Agreement to ensure that Owner Activities do not impact the Pipeline Easements or damage the pipeline. Such costs and expenses shall include, but not be limited to, inspections, labor, burden, equipment and reasonable attorney' fees. Owner is responsible for ensuring that no Owner Activities take place at the Site within or affecting the Pipeline Easements or pipeline, including, without limitation, construction traffic over the Pipeline Easements, until Company's inspector has approved of Owner Activities and is present to observe all such Owner Activities. All such costs and expenses of Company will be paid by Owner within 30 days of receipt of the Company's invoice for such costs and expenses. 4. INDEMNITY AND RELEASE. To the maximum extent permissible by law, Owner shall indemnify, defend and hold harmless Company, its affiliates and operators and their employees, contractors and agents from any Claim relating to or arising from (i) any activity by or on behalf of Owner at the Site or (ii) the existence or operation of any encroachments Page 2 of 8 r or appurtenances thereto at the Site. Owner releases Company from any Claim relating to or arising from any act or omission of Company at the Site from the time the pipeline was laid to the date of this instrument. "Claim" includes without limit any claim, liability, loss, damage, cost or expense and includes without limit such for personal injury or death, property damage, environmental damage, remediation, and business loss. If any party to this Agreement fails to keep any term of this Agreement, the offending party shall pay the aggrieved party's costs and reasonable attorneys' fees in enforcing performance. Before any work by or on behalf of Owner within 50 feet of any pipeline laid pursuant to the Pipeline Easements, Owner shall provide, maintain and deliver to Company insurance acceptable to Company which, except for workers' compensation and contractual liability, name Company as an additional insured. 5. WARRANTY. Owner covenants that: (i) Owner owns the Site in fee simple absolute and has right, title and power to grant the rights granted herein; (ii) Company shall quietly enjoy its Pipeline Easements; and (iii) Owner shall execute any further necessary assurance of title. Any individual signing this agreement in a representative capacity further warrants full authority and power from the purported principal to fully bind the principal to all terms and conditions contained herein. 6. EFFECT OF AGREEMENT. This Agreement touches and runs with the land and shall bind and benefit the parties' heirs, legal representatives, successors and assigns. If any provision of this agreement is deemed void, invalid, or unenforceable by a court or tribunal of competent jurisdiction, such provisions shall be stricken without effect on the remaining provisions. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof or preclude the exercise of any other right, power, or privilege hereunder. This Agreement shall be construed and interpreted according to the laws of the State of Indiana. IN WITNESS WHEREOF, Owner and Company have each duly caused this Development Agreement to be executed as of the day and year first above written, and each Developer has acknowledged said Agreement and agreed to be bound by its terms. (the remainder of the page is intentionally left blank) Page 3 of 8 SOUTH BEND REDEVELOPMENT WITNESSED BY: AUTHORITY (Printed Name) (Signature) State of } }ss County of } (Printed Name) (Signature) (Printed Name) (Signature) The foregoing instrument was acknowledged before me this day of , 2006 by of the South Bend Redevelopment Authority, who acknowledged execution of the foregoing instrument, on behalf of the South Bend Redevelopment Authority, which agrees to be bound by its terms, and and who also witnessed the execution thereof. (SEAL) My commission expires: t (Notary Public Signature) (Printed Name) Page 4 of 8 MARATHON PIPE LINE LLC: WITNESSED BY: is Nathan H. Muehl (Printed Name) (Printed Name) (Signature) (Title) (Signature) (Printed Name) (Signature) State of Ohio) ss County of Hancock} The foregoing instrument was acknowledged before me this day of , 2006 by Nathan H. Muehl, Manager, Damage Prevention & R/O /W Relations, Marathon Pipe Line LLC, who acknowledged execution of the foregoing instrument on behalf of Marathon Pipe Line LLC, which agrees to be bound by its terms, and and , who also witnessed the execution thereof. (SEAL) My commission expires: • Page 5 of 8 (Notary Public Signature) (Printed Name) •SOUTH BEND REDEVELOPMENT COMMISSION (Printed Name) (Signature) State of I ss County of WITNESSED BY: (Printed Name) (Signature) (Printed Name) (Signature) The foregoing instrument was acknowledged before me this day of , 2006 by , of the South Bend Redevelopment Commission, who acknowledged execution of the foregoing instrument on behalf of the South Bend Redevelopment Commission, which agrees to be bound by its terms, • and , who also witnessed the execution thereof. (SEAL) My commission expires: is (Notary Public Signature) (Printed Name) Page 6 of 8 0 JF +A PROPERTIES, LTD. /CII &P (Printed Name) (Signature) State of } }ss County of } WITNESSED BY: (Printed Name) (Signature) (Printed Name) (Signature) The foregoing instrument was acknowledged befc 2006 by , Ltd. /CII &P, who acknowledged execution of the Properties, Ltd. /CII &P, which agrees to and execution thereof. (SEAL) My commission expires: • re me this day of , of JF +A Properties, foregoing instrument on behalf of JF +A be bound by its terms, and , who also witnessed the (Notary Public Signature) (Printed Name) Page 7 of 8 0 COUNTY MAYO /SB, LLC WITNESSED BY: (Printed Name) (Signature) State of }ss County of (Printed Name) (Signature) (Printed Name) (Signature) The foregoing instrument was acknowledged before me this day of , 2006 by of the County Mayo /SB, LLC, who acknowledged execution of the foregoing instrument on behalf of the County Mayo /SB, LLC, which agrees to be bound by its terms, and and , who also witnessed the execution thereof. (SEAL) (Notary Public Signature) (Printed Name) My commission expires: Prepared by Barbara J. Meier, Attorney, Barnes & Thornburg, 11 S. Meridian Street, Indianapolis, Indiana 460204 and Shawn E. Peterson, Assistant City Attorney, City of South Bend, Indiana, 1400 County -City Building, 227 W. Jefferson Blvd. South Bend, IN 46601. Page 8 of 8 ,r- . • • 41 Legal Description of Lot I Lot IA Lot 1 A Blackthorn Corporate Office Park Minor #3 recorded October 30, 1995, Record Number 9536275 (Such property shall be referred to herein as "Lot 1A ".)