HomeMy WebLinkAboutNo. 1506 approving a proposed lease between the SBRA and the SBRC for certain land and public improvements, approving preliminary plans, speccifications and cost estimates, setting a public hearing (Palais Royale)�J
RESOLUTION NO. 1506
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING A PROPOSED LEASE BETWEEN THE
SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND
REDEVELOPMENT COMMISSION FOR CERTAIN LAND AND PUBLIC
IMPROVEMENTS, APPROVING PRELIMINARY PLANS, SPECIFICATIONS
AND COST ESTIMATES, SETTING A PUBLIC HEARING ON THE PROPOSED
LEASE PURSUANT TO IC 36 -7 -14 -25.2, AND AUTHORIZING
PUBLICATION OF NOTICE OF THE PUBLIC HEARING
WHEREAS, the South Bend Redevelopment Commission (the "Commission ") has
previously entered into a lease with the South Bend Redevelopment Authority (the "Authority ")
dated as of March 1, 1992, as amended by an Addendum to Lease between the Authority and the
Commission dated as of August 7, 1992 (collectively, the "Original Lease "), whereby the
Authority currently leases to the Commission certain real estate and a building located thereon
commonly known as the Palais Royale in the City of South Bend, Indiana (the "Palais Royale ");
and
WHEREAS, the Commission desires to amend and restate the Original Lease by
entering into and adopting a proposed Amended and Restated Lease to be dated as of May 1,
1997 (the "Lease "), with the Authority in the form presented at this meeting, a copy of which is
attached hereto as Exhibit A for the purpose of additionally leasing improvements from the
Authority which will consist of the acquisition, construction, renovation and equipping of the
Morris Performing Arts Center which includes certain portions of the Palais Royale and the
adjacent facility known as the Morris Civic Center (the "Project "); and
WHEREAS, preliminary plans, specifications and cost estimates for the Project
have been filed with the Commission; and
WHEREAS, the Commission desires to (i) approve the preliminary plans,
specifications and cost estimates for the Project, (ii) approve the proposed Lease, and (iii)
authorize the publication of notice of public hearing and conduct a public hearing on the proposed
Lease pursuant to IC 36 -7 -14 -25.2; and
WHEREAS, after the public hearing, the Commission may adopt a resolution
pursuant to IC 36 -7 -14 -25.2 authorizing the execution of the proposed Lease on behalf of the City
of South Bend if it finds that the service to be provided throughout the term of the proposed
Lease will serve the public purpose of the City of South Bend, is in the best interests of its
16 residents and the lease rental provided for therein is fair and reasonable.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Commission hereby approves the preliminary plans, specifications and
cost estimates which have been filed with the Commission.
2. The Commission hereby approves the proposed Lease in substantially final
form between the Authority and the Commission to be dated as of May 1, 1997.
3. The Commission hereby schedules the public hearing on the proposed Lease
to be held on June 6, 1997, at 10:00 a.m., Eastern Standard Time, at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana.
4. The Commission hereby authorizes the publication of a notice of public
hearing on the proposed Lease pursuant to IC 5 -3 -1.
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Commission.
5. This resolution shall be in full force and effect after its adoption by the
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
May 2, 1997, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Robert W. Hunt, President
A T/1T STS:
Paul N. Auburn, Secretary
J: \W PDOCS\ RRROMPOLI STFBENDIMORRIS \RFSOLUTI.ONS\LULEASE.RC
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4
AMENDED AND RESTATED LEASE
Between
SOUTH BEND
REDEVELOPMENT AUTHORITY
and
SOUTH BEND REDEVELOPMENT COMMISSION
DATED AS OF MAY 1, 1997
(PALAIS ROYALE/MORRIS CIVIC CENTER PROJECT)
INDEX
Page
Section 1. Definitions .............. ............................... 1
Section 2. Lease of Project ........... ............................... 3
Section 3. Rental Payments ........... ............................... 4
Section 4. Rental Payment Dates and Amounts ............................ 4
Section 5. Abatement of Rent ......... ............................... 6
Section 6. - Net Lease ............... ............................... 7
Section 7. Nonliability of Authority ..... ............................... 7
Section 8. Alterations... 7
Section 9. Insurance ............... ............................... 7
Section 10. Use of Insurance and Condemnation Proceeds ..................... 8
Section 11. Liability Insurance ......... ............................... 8
Section 12. General Insurance Provisions ............................... 8
Section 13. General Covenants ......... ............................... 9
Section 14. Option to Purchase ......... ............................... 9
Section 15. Defaults ............... ............................... 10
Section 16. Notices ................ ............................... 10
Section 17. Construction of Covenants ... ............................... 10
Section 18. Successors or Assigns ...... ............................... 10
Exhibit A Permitted Encumbrances
Exhibit B Palais Royale Legal Description
Exhibit C Project Description
Exhibit D(1) Lease Payment Schedule for Original/Combined Project
Exhibit D(2) Lease Payment Schedule for Additional /Combined Project
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LA'q
AMENDED AND RESTATED LEASE
This Amended and Restated Lease entered into as of the 1 st day of May, 1997, between
the SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and politic organized
and existing under Indiana Code 36 -7 -14.5 (the "Authority") and the SOUTH BEND
REDEVELOPMENT COMMISSION, the governing body of the South Bend Department of
Redevelopment and the Redevelopment District of the City of South Bend, Indiana (the "Lessee "),
acting for and on behalf of the City of South Bend, Indiana.
WITNESSETH:
Section 1. Definitions. The terms defined in this Section 1 shall for all purposes of
this Lease have the meanings herein specified unless the context otherwise requires.
"Act" means Indiana Code 36 -7 -14.5, as the same from time to time may be amended or
supplemented.
"Additional Bonds" means the South Bend Redevelopment Authority Lease Rental
Revenue Bonds (Morris Performing Arts Center Project).
"Additional Lease Resolution" means the resolution of the Commission passed on
, 1997, establishing funds for the payment of lease rentals for the
Additional/Combined Project.
"Additional/Combined Project" means the Additional Project and an undivided interest in
Seventy -three percent (73 %) of the Combined Project, which Additional Project and undivided
interest are allocable to the Additional Bonds.
"Additional Project" means the real estate (including all right -of -way easements contained
therein) in South Bend, Indiana, and the building located thereon known as the Morris Civic
Center and the improvements to be made thereon by the Authority or its agent according to plans
and specifications all as described in Exhibit C hereto. The above mentioned plans and
specifications may be changed and additional construction work may be performed and
improvements may be purchased by the Authority, but only with the approval of the Lessee, and
only if such changes or modifications or additional construction work or improvements do not
alter the character of the Project or reduce the value thereof. Any such additional construction
work or additional improvements shall be part of the property covered by this Lease. The
above - mentioned plans and specifications have been filed with and approved by the Lessee.
"Authority" means the South Bend Redevelopment Authority, a body corporate and politic
organized and existing under the Act, or if said Authority shall be abolished, the authority, board,
body, instrumentality or agency succeeding to the principal functions thereof.
"Bonds" means, collectively, the Original Bonds and the Additional Bonds.
"Combined Project" means that portion of the Palais Royale which does not include the
(4w Original Project and the improvements to be made thereon by the Authority or its agent according
to plans and specifications all as described in Exhibit C hereto. The above mentioned plans and
specifications may be changed and additional construction work may be performed and
improvements may be purchased by the Authority, but only with the approval of the Lessee, and
only if such changes or modifications or additional construction work or improvements do not
alter the character of the Project or reduce the value thereof. Any such additional construction
work or additional improvements shall be part of the property covered by this Lease. The
above - mentioned plans and specifications have been filed with and approved by the Lessee.
"Lease" means this Amended and Restated Lease as the same may be amended, modified
or supplemented by any amendments or modifications hereof or supplements hereto entered into
in accordance with the provisions hereof.
"Lease Resolutions" means, collectively, the Original Lease Resolution and the Additional
Lease Resolution.
"Lessee" means the South Bend Redevelopment Commission, the governing body of the
South Bend Department of Redevelopment and the Redevelopment District of the City of South
Bend, Indiana, or if said Commission shall be abolished, the commission, board, body or agency
succeeding to the principal functions thereof.
"Morris Performing Arts Center Project Principal and Interest Account" means the account
by that name created in the Redevelopment District Bond Fund by the Additional Lease
Resolution.
"Original Bonds" means the South Bend Redevelopment Authority Taxable Lease Rental
Revenue Bonds (Palais Royale Project).
"Original Lease Resolution" means the resolution of the Commission passed on June 5,
1992, establishing funds for the payment of lease rentals for the Original/Combined Project.
"Original/Combined Project" means the Original Project and an undivided interest in
Twenty -seven percent (27 %) of the Combined Project, which Original Project and undivided
interest are allocable to the Original Bonds.
"Original Project" means the real estate (including all right -of -way easements contained
therein) in South Bend, Indiana, described in Exhibit B hereto and that portion of the Palais
Royale which is leased to private entities for retail purposes and which does not include the
Additional Project.
"Palais Royale" means the real estate (including all right -of -way easements contained
therein) in South Bend, Indiana, described in Exhibit B hereto and the building located thereon
more commonly known as the Palais Royale.
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"Palais Royale Principal and Interest Account" means the account by that name created
in the Redevelopment District Bond Fund by the Original Lease Resolution.
"Permitted Encumbrances" means those items listed in Exhibit A hereto and any future
(a) liens for taxes not then delinquent, (b) this Lease and the Trust Agreements, leases, subleases
and other agreements permitted pursuant to Section 13 hereof, (c) utility, access and other
easements and rights -of -way, restrictions and exceptions that Lessee certifies will not interfere
with or impair the Project, (d) any mechanics', laborers', materialmen's, suppliers' or vendors'
lien or right in respect thereof if payment is not yet due and payable and (e) such minor defects,
irregularities, encumbrances, easements, rights -of -way and clouds on title as do not, in the opinion
of the Trustee, materially impair the Authority's title or Lessee's use of the Project.
"Project" means, for purposes of this Lease and the payments to be made hereunder, the
facilities consisting of the Original Project, the Additional Project and the Combined Project.
"Redevelopment District Bond Fund" means the Redevelopment District Bond Fund of
Lessee authorized by Indiana Code 36- 7 -14 -27 and the Lease Resolutions.
"Additional Trust Agreement" means the Trust Agreement dated as of May 1, 1997,
between the Authority and the Trustee, securing the Additional Bonds, as defined herein.
"Original Trust Agreement" means the Trust Agreement dated as of June 1, 1992, between
the Authority and the Trustee, securing the Original Bonds, as defined herein.
"Trust Agreements" means, collectively, the Original Trust Agreement and the Additional
Trust Agreement as defined herein.
"Trustee" means Norwest Bank Indiana, N.A., 111 East Wayne, Fort Wayne, Indiana
46801 -6642, as Trustee pursuant to each of the Trust Agreements, and any successor trustee.
Any term not defined herein, which is defined in the Lease Resolutions or in the Trust
Agreements, shall have the meaning as defined in such resolutions or agreements.
Section 2. Lease of Project. (a) In consideration of the rentals and other terms and
conditions herein specified the Authority does hereby lease, demise and let to the Lessee the
Original/Combined Project: TO HAVE AND TO HOLD the same with all rights, privileges,
easements and appurtenances thereunto belonging, unto the Lessee for a term not to exceed
thirteen (13) years, beginning on August 26, 1992, and ending on the day prior to such date at
most thirteen (13) years thereafter.
(b) In consideration of the rentals and other terms and conditions herein specified the
Authority does hereby lease, demise and let to the Lessee the Additional/Combined Project: TO
HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances
thereunto belonging, unto the Lessee for a term not to exceed twenty (20) years, beginning on
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the date the Additional/Combined Project is complete and ready for use, and ending on the day
prior to such date at most twenty (20) years thereafter.
However, the term of this Lease shall terminate as to (i) the Original/Combined
Project; (ii) the Additional/Combined Project; or (iii) both; at the earlier of (a) the exercise of the
option to purchase by Lessee and payment of the option price, or (b) the payment or defeasance
of all obligations of Lessor incurred (i) to finance the cost of the leased property, (ii) to refund
such obligations, or (iii) to refund such refunding obligations. The date that the
Additional/Combined Project is complete and ready for use shall be endorsed on this Lease at the
end hereof by the parties hereto as soon as the same can be done after such completion date and
such endorsement shall be recorded as an addendum to this Lease. The Authority hereby
represents that it is possessed of, or will acquire, a good and indefeasible estate in fee simple or
an insurable right -of -way easement subject only to Permitted Encumbrances, to the
above - described real estate, and the Authority warrants and will defend the same against all
claims whatsoever not suffered or caused by the acts or omissions of the Lessee.
Section 3. Rental Payments. (a) During the term of this Lease, the Lessee agrees to
pay rental for said premises as set forth in Section 4 hereof. Such rental shall be paid from the
Palais Royale Principal and Interest Account (in the case of the Original/Combined Project) and
the Morris Performing Arts Center Principal and Interest Account (in the case of the
Additional /Combined Project) of the Redevelopment District Bond Fund. All rentals payable
under the terms of this Lease shall be paid to the Trustee or to such other bank or trust company
as may from time to time succeed the Trustee under the applicable Trust Agreement. All
payments so made shall be considered as payments to the Authority of the rentals payable
hereunder. In the event rentals payable under the terms of this Lease shall discontinue for any
reason in relation to either (i) the Original/Combined Project or (ii) the Additional/Combined
Project, such discontinuation of rental payments shall not affect the obligation of the Lessee to
continue to pay rentals on said components of the Project (or portions thereof) not affected by
such discontinuation. The Lessee shall receive credit for any Bonds maturing within seven (7)
days of the date of the lease rental payment, at the face value thereof, which the Lessee acquires
and delivers to the Trustee as a part of its lease rental payment, which credit shall be allocated
to the rental payment requirement relating either to the Original/Combined Project as set forth
in Exhibit D(1) or to the Additional/Combined Project (as set forth in Exhibit D(2)) as
appropriate; (b) as additional rental the Lessee agrees to pay all fees, charges and reimbursement
of expenses of the Trustee under the Trust Agreements and all prudent charges and expenses of
the Authority incurred in the performance of its obligations hereunder.
Section 4. Rental Payment Dates and Amounts. (a) Rental installments in the amount
of Ninety-Eight Thousand Five Hundred and 00 /100 Dollars ($98,500) which began on January
28, 1993, shall continue and be due on July 28 and January 28 of each year for the
Original/Combined Project. The last semiannual rental payment due before the expiration of this
Lease shall be adjusted to provide for rental at the amount specified above for the applicable
semiannual period prorated from the date such installment is due to the date of the expiration of
this Lease (without taking into account any subsequent early termination of this Lease pursuant
to Section 2 hereof) (see Exhibit D(1) hereto).
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(b) _ The first semiannual rental installment for the Additional/Combined Project in the
amount of Six Hundred Ninety-five Thousand and 00 /100 Dollars ($695,000.00) shall be due on
the day that the Additional/Combined Project is completed and ready for use, or July 28, 1999,
whichever is later. If completion is later than July 28, 1999, the first installment shall be in an
amount which provides for rental at the rate specified in Exhibit D(2) for the semiannual period
in which the Additional/Combined Project is completed and ready for use, prorated from the date
of completion until the first January 28 or July 28 following such date of completion. Thereafter
such rentals shall be payable in advance in semiannual installments on January 28 and July 28
of each year as provided for in the lease payment schedule attached hereto as Exhibit D(2). The
last semiannual rental payment due before the expiration of this Lease shall be adjusted to
provide for rental at the amount specified above for the applicable semiannual period prorated
from the date such installment is due to the date of the expiration of this Lease (without taking
into account any subsequent early termination of this Lease pursuant to Section 2 hereof).
For purposes of this Lease, rental payments shall be allocable among the Original Project,
the Additional Project, and the Combined Project as follows:
(i) thirty percent (30 %) of the amount required to be paid under Section 4(a) hereof
shall be allocable to the Original Project, as reflected on Exhibit DM;
(ii) eighty percent (80 %) of the amount required to be paid under Section 4(b) hereof
shall be allocable to the Additional Project, as reflected on Exhibit D(2); and
(iii) the remaining amounts required to be paid under Sections 4(a) and 4(b) shall be
allocable to the Combined Project as reflected in Exhibits D(1) and D(2).
t
After the sale of the Additional Bonds issued by the Authority to pay the cost of the
Additional/Combined Project, the rental required to be paid pursuant to Section 4(b) shall be
reduced as follows: the sum of the first and second semiannual rental installments and the sum
of the third and fourth semiannual rental installments, and so on, shall be reduced to an amount
equal to the multiple of One Thousand Dollars ($1,000) next highest to the highest sum of
principal and interest due in any year ending on an Additional Bond maturity crate (Additional
Bond Year) on such Additional Bonds plus Three Thousand Dollars ($3,000), payable in equal
semiannual installments. Such amount of reduced annual rental shall be endorsed *on this Lease
at the end hereof by the parties hereto as soon as the same can be done after the sale of the
Additional Bonds, and such endorsement shall be recorded as an addendum to this Lease.
In the case of the Additional/Combined Project, the Lessee will not take any action or fail
4 to take any action that would result in the loss of the exclusion from gross income for federal tax
purposes of interest on the Additional Bonds pursuant to Section 103(a) of the Internal Revenue
Code of 1986, as amended (the "Code "), as in effect on the date of delivery of the Additional
Bonds, nor will the Lessee act in any manner which would adversely affect such exclusion. The
Lessee further covenants that it will not make any investment or do any other act or thing during
the period that any Additional Bond is outstanding hereunder which would cause any Additional
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the period that any Additional Bond is outstanding hereunder which would cause any Additional
Bond to be an "arbitrage bond" within the meaning of Section 148 of the Code and the
regulations thereunder as in effect on the date of delivery of the Additional Bonds. All officers,
members, employees and agents of the Lessee are authorized and directed to provide certifications
of facts and estimates that are material to the reasonable expectations of the Lessee as of the date
the Additional Bonds are issued and to enter into covenants on behalf of the Lessee evidencing
the Lessee's commitments made herein.
Section 5. Abatement of Rent. (a) In the event that all or a portion of the Original
Project shall be damaged or destroyed so as to render the damaged or destroyed portion of the
Original Project unfit for its intended use, it shall then be the obligation of the Authority to
restore and reconstruct the damaged or destroyed portion of the Original Project as promptly as
may be done, unavoidable strikes and other causes beyond the control of the Authority excepted,
if, in the opinion of an independent registered architect, registered engineer, construction manager
or contractor selected by the Lessee and acceptable to the Trustee, (i) the cost of such restoration
or reconstruction does not exceed the amount of the proceeds received by the Authority from the
insurance provided for in Section 9 hereof allocable to the Original Project plus other moneys
available therefor and (ii) such restoration or reconstruction can be completed within the period
of time covered by the rental value insurance provided for in Section 9 hereof. If either or both
conditions shall not exist, the proceeds received from the insurance provided for in Section 9
hereof shall be applied to the option to purchase price provided for in Section 14 hereof. The
rental attributable to the Original Project as reflected in Exhibit D(1) shall be abated pro rata for
the period during which the damaged or destroyed portion of the Original Project is unfit for its
intended use.
(b) In the event that all or a portion of the Additional Project shall be damaged or
destroyed so as to render the damaged or destroyed portion of the Additional Project unfit for its
intended use, it shall then be the obligation of the Authority to restore and reconstruct the
damaged or destroyed portion of the Additional Project as promptly as may be done, unavoidable
strikes and other causes beyond the control of the Authority excepted, if, in the opinion of an
independent registered architect, registered engineer, construction manager or contractor selected
by the Lessee and acceptable to the Trustee, (i) the cost of such restoration or reconstruction does
not exceed the amount of the proceeds received by the Authority from the insurance provided for
in Section 9 hereof allocable to the Additional Project plus other moneys available therefor and
(ii) such restoration or reconstruction can be completed within the period of time covered by the
rental value insurance provided for in Section 9 hereof. If either or both conditions shall not
exist, the proceeds received from the insurance provided for in Section 9 hereof shall be applied
to the option to purchase price provided for in Section 14 hereof. The rental allocable to the
Additional Project as reflected in Exhibit D(2) shall be abated pro rata for the period during
which the damaged or destroyed portion of the Additional Project is unfit for its intended use.
(c) In the event that all or a portion of the Combined Project shall be damaged or
destroyed so as to render the damaged or destroyed portion of the Combined Project unfit for its
intended use, it shall then be the obligation of the Authority to restore and reconstruct the
damaged or destroyed portion of the Combined Project as promptly as may be done, unavoidable
In
independent registered architect, registered engineer, construction manager or contractor selected
by the Lessee and acceptable to the Trustee, (i) the cost of such restoration or reconstruction does
not exceed the amount of the proceeds received by the Authority from the insurance provided for
in Section 9 hereof allocable to the Combined Project plus other moneys available therefor and
(ii) such restoration or reconstruction can be completed within the period of time covered by the
rental value insurance provided for in Section 9 hereof. If either or both conditions shall not
exist, the proceeds received from the insurance provided for in Section 9 hereof shall be applied
to the option to purchase price provided for in Section 14 hereof. The rental allocable to the
Combined Project as reflected in Exhibits D(1) and D(2) shall be abated pro rata for the period
during which the damaged or destroyed portion of the Combined Project is unfit for its intended
use.
Section 6. Net Lease. It is expressly understood and agreed that this Lease shall be
what is known as a net lease i.e., the rent being absolutely net to the Authority and that all other
expenses in connection with the Project of any nature whatsoever shall be those of the Lessee)
and that during the lease term the Lessee shall be obligated to pay as its expenses without
reimbursement from the Authority all costs of taxes and assessments, if any, and maintenance,
operation and use in connection with or relating to the Project, including but not limited to all
costs and expenses of all services, repair or replacement of all parts of the Project or
improvements of the Project.
Section 7. Nonliability of Authority. The Authority shall not be liable for damage
caused by hidden defects or failure to keep the Project in repair and shall not be liable for any
damage done or occasioned by or from plumbing, gas, water, or other pipes or the bursting or
leaking of plumbing or heating fixtures in connection with said premises, nor for damage
occasioned by water, snow or ice. The Authority shall not be liable for any injury to the Lessee
or any sublessee of the Lessee or any other person which injury occurs on, in or about the Project
howsoever arising. The Authority shall not be liable for damage to the Lessee's property or to
the property of any sublessee of the Lessee or of any other person which may be located in, upon
or about the Project.
Section 8. Alterations. Lessee shall have the right, without the consent of the
Authority, to make all alterations, modifications and additions and to do all improvements it
deems necessary or desirable to the Project, which do not reduce the rental value of the Project.
Section 9. Insurance. The Lessee, at its own expense, will, during the full term of the
Lease, keep the Project insured against physical loss or damage, however caused, with such
exceptions as are ordinarily required by insurers of properties of a similar type, in good and
responsible insurance companies acceptable to the Authority. Such insurance shall be in an
amount at least equal to the greater of (i) the option to purchase price or (ii) one hundred percent
(100 %) of the full replacement cost of such Project as certified by a registered architect, a
registered engineer, or professional appraisal engineer, selected by the Authority with the approval
of the Trustee, on the effective date of this Lease and on or before the first day of April of each
year thereafter; provided that such certification shall not be required so long as the amount of
such insurance shall be in an amount at least equal to the option to purchase price. Such
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such insurance shall be in an amount at least equal to the option to purchase price. Such
appraisal may be based upon a recognized index of conversion factors. In no event shall the
insurance be in an amount which causes the Lessee to be a co- insurer for the Project. Such
insurance may contain a provision for a deductible in an amount not exceeding $25,000. Lessee
agrees to pay the deductible amount of any loss to the Authority. A blanket public institutional
property insurance form may be used if:
(a) the insurance on the Project is not less than the amount required by this Section,
(b) the Lessee subordinates its claim for damage or destruction to other buildings or
improvements to claims for damage or destruction of the Project, and
(c) the insurance proceeds related to damage to or destruction of the Project are
payable to the Trustee.
During the full term of this Lease, the Lessee will also, at its own expense, maintain rental or
rental value insurance in an amount at least equal to the full rental for the Project specified in
Section 4 for a period of two (2) years against physical loss or damage of the type insured against
pursuant to the preceding requirements of this Section. Such policies shall be for the benefit of
and shall be made payable to the Trustee.
Section 10. Use of Insurance and Condemnation Proceeds. Proceeds of insurance
against damage to or destruction of the Project or proceeds of any condemnation of the Project
shall be paid to and held by the Trustee and used to pay for reconstruction or replacement of the
Project in accordance with plans approved by the Authority and the Lessee, unless the Lessee
elects to exercise its option to purchase.
Section 11. Liability Insurance. The Lessee shall, at all times during the full term of
this Lease, keep in effect, public liability and property damage insurance, insuring the Lessee,
the Authority and the Trustee in amounts customarily carried for similar properties. Such
insurance may be provided under the public liability self insurance program of the City of South
Bend.
Section 12. General Insurance Provisions. All insurance policies required by Sections
9 and 11, other than insurance provided under the public liability self insurance program of the
City of South Bend, shall be with insurance companies rated B+ or better by A.M. Best Company
(or a comparable rating service if A.M. Best company ceases to exist or rate insurance
companies), and shall be countersigned by an agent of the insurer who is a resident of the State
of Indiana, and such policies, or copies thereof, and the certificate of the architect or engineer
referred to in Section 9 shall be deposited with the Authority and the Trustee. If, at any time,
the Lessee fails to maintain insurance in accordance with Sections 9 and 11, such insurance may
be obtained by the Authority, or may be obtained by the Trustee, and the amount paid for such
insurance shall be added to the amount of rental payable by the Lessee under this Lease;
provided, however, that neither the Authority nor the Trustee shall be under any obligation to
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obtain such insurance, and any action or non - action of the Authority or Trustee in this regard
shall not relieve the Lessee of any consequences of a default in failing to obtain such insurance.
Section 13. General Covenants. The Lessee shall not assign this Lease or sublet any
part of the Project herein described without the prior written consent of the Authority; provided,
however, that the Lessee shall in no event assign this Lease or sublet any part of the Project if
such assignment or sublease will result in the loss of the exclusion from gross income for federal
tax purposes of interest on any obligation issued by the Authority to finance the Project which
is at the date of its issuance subject to such exclusion. The Lessee covenants that, except for
Permitted Encumbrances, it will not encumber the Project, or permit any encumbrance to exist
thereon, and that it shall use and maintain the Project in accordance with the laws and ordinances
of the United States of America, the State of Indiana, and all other proper governmental
authorities. The Authority agrees that it will, at the request of the Lessee, execute and deliver
to or upon the order of the Lessee such instrument or instruments as may be reasonably required
by the Lessee in order to subject the Project, or the Authority's interest therein, to such
encumbrances as shall be specified in such request and as shall be permitted by the provisions
of this Section 13 or otherwise by the definition of "Permitted Encumbrances ".
Section 14. Option to Purchase. The Authority hereby grants Lessee the right and
option, on any rental payment date, upon thirty days' written notice to the Authority, to purchase:
(i) the Original/Combined Project at a price equal to the amount required to enable the Authority
to provide for the redemption of all outstanding Original Bonds; (ii) the Additional/Combined
Project at a price equal to the amount required to enable the Authority to provide for the
redemption of all outstanding Additional Bonds; or (iii) the Project at a price equal to amount
required to enable the Authority to provide for the redemption of all outstanding Bonds; all
premiums payable on the redemption thereof, and accrued and unpaid interest, and to pay the cost
of redeeming such Bonds (if all Bonds are to be redeemed) and liquidating the Authority if it is
to be liquidated.
Upon request of the Lessee, the Authority agrees to furnish an itemized statement setting
forth the amounts required to be paid by the Lessee on the next rental payment date in order to
effect said purchase in accordance with the preceding paragraph.
If the Lessee exercises its option to purchase, the Lessee shall pay to the Trustee that
portion of the purchase price which is required to provide for the payment of the Bonds to be
redeemed as a result of the exercise of such option to purchase, including all premiums payable
on the redemption thereof, accrued and unpaid interest thereon and the costs of redemption
thereof. Such payment shall not be made until the Trustee gives to the Lessee a written statement
60 that such amount will be sufficient to retire the Bonds to be redeemed including all premiums
payable on the redemption thereof and accrued and unpaid interest.
The remainder of such purchase price, if any, shall be paid by the Lessee to the Authority.
Nothing herein contained shall be construed to provide that the Lessee shall be under any
obligation to purchase the Project, or any portion thereof, or under any obligation in respect to
any creditors or bondholders of the Authority.
Sol
M Lessee of its obligations under this Lease, the Authority shall execute a deed of the Project to the
` Lessee conveying good and merchantable title thereto, subject only to Permitted Encumbrances.
This paragraph shall be deemed to apply both to the entire Project and to the separate components
thereof constituting the OriginaUCombined Project and the Additional/Combined Project.
iv
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Section 15. Defaults. If the Lessee shall (a) default in the payment of any rentals or
other sums payable to the Authority hereunder, or in the payment of any other sum herein
required to be paid for the Authority, (b) fail to comply with the terms set forth in the Lease
Resolution, or (c) default in the observance of any other covenant, agreement or condition hereof,
and such default under (c) shall continue for ninety (90) days after written notice to correct the
same, then, in any of such events, the Authority may proceed to protect and enforce its rights,
either at law or in equity, by suit, action, mandamus or other proceedings, whether for specific
performance of any covenant or agreement contained herein or for the enforcement of any other
appropriate legal or equitable remedy.
Section 16. Notices. Whenever either party shall be required to give notice to the other
under this Lease, it shall be sufficient service of such notice to deposit the same in the United
States mail, in an envelope duly stamped, registered and addressed to the other party at its last
known place of business. A copy of any notice shall be mailed by first -class mail to the Trustee
at its last known place of business.
Section 17. Construction of Covenants. All provisions contained herein shall be
construed in accordance with the provisions of the Act and to the extent of inconsistencies, if any,
between the covenants and agreements in this Lease and the provisions of the Act, the provisions
of said Act shall be deemed to be controlling and binding-upon the parties.
Section 18. Successors or Assigns. All covenants of this Lease, whether by the
Authority or the Lessee, shall be binding upon the successors and assigns of the respective parties
hereto.
-10-
r IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed for
and on their behalf as of the day and year first hereinabove written.
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SOUTH BEND REDEVELOPMENT AUTHORITY
ATTEST:
Eugene Ladewski, Secretary- Treasurer
ATTEST:
Paula N. Auburn, Secretary
Andre B. Gammage, President
SOUTH BEND REDEVELOPMENT COMMISSION
Im
Robert W. Hunt, President
-11-
is
STATE OF INDIANA )
) SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for said State, personally appeared
Andre B. Gammage and Eugene Ladewski, personally known by me to be the President and
Secretary - Treasurer, respectively, of the South Bend Redevelopment Authority, and acknowledged
the execution of the foregoing Lease for and on behalf of said Authority.
WITNESS my hand and Notarial Seal this day of , 1997.
(Written Signature)
(Printed Signature)
(SEAL)
My commission expires:
I am a resident of St. Joseph County, Indiana
J/
-12-
STATE OF INDIANA
I COUNTY OF ST. JOSEPH
j
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SS:
Before me, the undersigned, a Notary Public in and for said State, personally appeared
Robert W. Hunt and Paula N. Auburn, personally known by me to be the President and Secretary,
respectively, of the South Bend Redevelopment Commission, and acknowledged the execution
of the foregoing Lease for and on behalf of said Commission.
WITNESS my hand and Notarial Seal this day of
(SEAL)
My commission expires:
I am a resident of St. Joseph County, Indiana.
C
(Written Signature)
(Printed Signature)
1997.
This instrument was prepared by Randolph R. Rompola, BAKER & DANIELS, 205 West
Jefferson Boulevard, South Bend, Indiana 46601.
-13-
EXHIBIT A
PERMITTED ENCUMBRANCES
J \W PDOCSU tRROMPOL \STHBEND\MORRISV.FASE.AMD
3
EXHIBIT B
DESCRIPTION OF PARCEL NO. 9
(PALAIS ROYALE)
A parcel of land located in the West Half (W' /�) of the Northwest Quarter (NW' /.) of Section Twelve
(12) Township Thirty -Seven (37) North, Range Two (02) East of the Second Principal Meridian, all
being in the City of South Bend, Portage Township, St. Joseph County, Indiana and being parts of
Lot No. 5 and Lot No. 6 as shown on the Plat of the Original Town, now City of South Bend and
as described in Warranty Deed 9231092 -dated 8 -26 -92 and being more particularly described as
follows:
All of Lot No. 6 and the south 24 feet of Lot No. 5, as shown on the Plat of the Original Town, now
City of South Bend and containing 14,850 square feet, more or less.
PROJECT DESCRIPTION
Additional Project
EXHIBIT C
The Additional Project consists of the acquisition, construction, renovation, and equipping of the
Morris Civic Center, specifically: (i) the renovation of the auditorium, including the installation
of new seating, restoration of plaster and painting restoration with historic decorative painting,
installation of new draperies and curtains, improvement of the current existing lighting,
replacement of the historical marquee; renovation and construction of concession areas;
renovation and construction of restroom improvements; installation and construction of a new
sound mixing position; and the renovation and construction of several technical booths (to provide
for projection, follow spot lighting, lighting, and audio); the renovation and installation of
theatrical lighting, architectural lighting, a cloak room and additional ticket booth; (ii) demolition
of the existing stagehouse and construction and equipping of an expanded stage house which will
extend approximately fifty (50) feet west of the existing Morris Civic Center with a height of
approximately seventy (70) feet which stagehouse will contain a stage, stage floor, storage areas,
dressing rooms, makeup rooms, restrooms, a piano vault, equipment and instrument storage
rooms, a stage manager's booth, a loading dock with capacity for two (2) tractor - trailers, a fire
curtain, a main curtain, installation of riggings and draperies, technical facilities, orchestra shell,
an expanded orchestra pit with pit lift, a scene storage area, additional wing space, backstage
elevator for handicapped access and movement of equipment and new HVAC equipment with
zoned heating and air conditioning; and (iii) the renovation and construction of parking lot
improvements adjacent to and near the Morris Civic Center facility; all on property owned by the
Authority or in which the Authority has secured an insurable easement all as described in
Schedule C -1 hereto; and
Combined Project
The Combined Project consists of the construction, renovation, and equipping of the grand
ballroom located in the Palais. Royale including restoration of the entrance marquee and lobby;
the provision of elevator access to the grand ballroom, restoration of the grand entrance staircase
to the grand ballroom; restoration/replacement of the ballroom floor; restoration of plaster;
painting restoration with historic decorative painting; installation of architectural lighting, ceiling
chandeliers, special use lighting and dimming equipment for the platform area; the installation
of a band platform with moveable units, sound system, and storage areas; installation of a dance
floor; renovation and construction of restrooms, an equipped kitchen, a supply elevator between
the basement and the kitchen, acquisition of tables and chairs, construction of balcony level
conference rooms and offices, the installation of new HVAC equipment and the construction and
renovation of a cloakroom.
I: \W PDOCS\RnOMPOL%ST HBEND\MORRIS\PROIECTMCC;ays
SCHEDULE C -1
DESCRIPTION -PARCEL NO. 1
A parcel of land located in the West Half (W' /z) of the Northwest Quarter (NW' /<) of Section Twelve
(12), Township Thirty-Seven (37) North Range Two (02) East of the Second Principal Meridian, all
being located in Portage Township, City of South Bend, St. Joseph County, Indiana and being a part
of Lot 4 and Lot 5 as shown on The Original Plat of Town, now City of South Bend and as described
in Deed Book 595, Page 73 and being more particularly described as follows:
All of Lot No. 4 of said Original Plat and the north 42' of Lot No. 5 of said Original Plat of the
Town, now City of South Bend and containing 17, 820 square feet, more or less.
DESCRIPTION - PARCEL NO.2
A parcel of land located in the West Half (W'/-2) of the Northwest Quarter (NW' /4) of Section Twelve
(12), Township Thirty -Seven (37) North Range Two (02) East of the Second Principal Meridian, all
being located in Portage Township, City of South Bend, St. Joseph County, Indiana and being a part
of Lot No. 8 and Lot No. 9 of the Plat of the Original Town, now City of South Bend and being more
particularly described as follows:
Beginning at the Northeast comer of said Lot 9 of the Plat of the Original Town, now City of South
Bend; thence south along the east line of Lot 9 and Lot 8 and also being along the west line of a 14
feet wide, north/south alley lying midway between Main Street on the west and Michigan Street on
the east, a distance of 108 feet, thence west, parallel with the north line of said Lot No. 9, a distance
of 36 feet; thence north, parallel with and 36 feet west of the east line of said Lots 8 and 9, a distance
of 108 feet to a point on the north line of said Lot No. 9; thence east along the north line of said Lot
No. 9 and also being along the south line of a 14 -feet wide east/west alley lying midway between
LaSalle Street on the north and Colfax Avenue on the south, a distance of 36 feet to the Point of
Beginning of this description and containing 3888 square feet, more or less.
0
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DESCRIPTION - PARCEL NO. 2A
FEE SIMPLE
A parcel of land located in the West Half (W' /2) of the Northwest Quarter (NW' /.) of Section Twelve
(12), Township Thirty -Seven (37) North Range Two (02) East, all being in the City of South Bend,
Portage Township, St. Joseph County, Indiana being a part of Lot No. 8, as shown on the Plat of the
Original Town, now City of South Bend and also being a part of Warranty Deed 9310195 -Tract No.
II -dated 4 -1 -93 and being more particularly described as follows:
Commencing at the southeast comer of Lot No. 8, as shown on the Plat of the Original Town, now
City of South Bend; thence north, along the east line of said Lot No. 8 and also being along the west
of a 14 feet wide alley, a distance of 24 feet to the Point of Beginning; thence west, parallel with and
108 feet south of the north line of Lot No. 9, as shown on the Plat of the Original Town, now City
of South Bend, a distance of 36 feet; thence north parallel with and 36 feet west of the east line of
said Lot No. 8, a distance of 11 feet; thence east, parallel with and 97 feet south of the said north line
of Lot No. 9, a distance of 36 feet; thence south, along the east line of Lot No. 8 and also being along
the west line of a 14 feet wide alley, a distance of 11 feet to the Point of Beginning of this
description and containing 396 square feet, more or less.
CO)
DESCRIPTION OF ALLEY VACATION
A parcel of land located in the West Half (W%) of the Northwest Quarter (NW' /4) of Section Twelve
(12), Township Thirty-Seven (37) North Range Two (02) East of the Second Principal Meridian, all
being located in Portage Township, City of South Bend, St. Joseph County, Indiana and being a part
of a 14 -feet wide alley (north/south) as shown on the plat of the Original Town, now City of South
Bend and being more particularly described as follows:
Beginning at the northwest corner of Lot No. 4, as shown on the said Plat of Original Town, now
city of South Bend; thence south along the west line of Lots No. 4 and No. 5 and also being along
the east line of said 14 feet wide alley, a distance of 108 feet; thence west, at right angles to said east
line of 14 -feet wide alley, a distance of 14 feet to a point on the west line of said 14 feet wide alley
and also being on the east line of Lot No. 8 of the Original Town, now City of South Bend; thence
north, along the said west line of the 14 feet wide alley and also being along the east line of Lots No.
8 and 9 of the Plat of the Original Town, now City of South Bend, a distance of 108 feet, more or
less to the northeast corner of said Lot No. 9; thence east 14 feet to the Point of Beginning of this
description and containing 1,512 square feet more or less.
i
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_ DESCRIPTION OF ALLEY TO BE IMPROVED
PARCEL3A
A parcel of land located in the West Half (W' /z) of the Northwest Quarter (NW %4) of Section Twelve
(12), Township Thirty-Seven (37) North Range Two (02) East of the Second Principal Meridian, all
being located in Portage Township, City of South Bend, St. Joseph County, Indiana and being a part
of a 14 feet wide, north/south alley as shown on the Plat of Original Town, now City of South Bend
and being more particularly described as follow:
Beginning at the southwest corner of Lot No. 6 of the Plat of the Original Town, now City of South
Bend; thence west, along the south line of said Lot No. 6, extended, and being along the north line
of a public street, now known as Colfax Avenue, a distance of 14 feet.to the southeast comer of Lot
No. 7 of said -Plat of the Original Town, now City of South Bend; thence north along the west line
of said alley and also being along the east line of Lot No. 7 and No. 8 of said Plat of the Original
Town, now City of South Bend, a distance of 90 feet, more or less; thence east, at right angles to the
said west line of the 14 -feet wide alley, a distance of 14 -feet to a point on the east line of said 14 -feet
wide alley and also being a point on the west line of Lot No. 5 of the Plat of the Original Town, now
City of South Bend; thence south along the east line of the said 14 -feet wide alley and also being
along the west line of Lot No. 5 and No. 6 of the Plat of the Original Town, now City of South Bend,
a distance of 90 feet to the Point of Beginning of this description and containing 1260 square feet,
more or less.
DESCRIPTION - PARCEL NO.4
(IM) A parcel of land located in the West Half (W` /z) of the Northwest Quarter (NW' /4) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second Principal Meridian,
all being in the City of South Bend, Portage Township, St. Joseph County, Indiana and as shown on
the Plat of The Original Town, now City, of South Bend and more particularly described as follows:
Lot NoA0 of the Plat of the Original Town, now City, of South Bend and containing 10,890 square
feet, more or less.
H le
DESCRIPTION - PARCEL 4A
A parcel of land located in the West Half (W' /2) of the Northwest Quarter (NW' /4) of Section Twelve
(12), Township Thirty -Seven (37) North, Range Two (02) East of the Second (2nd) Principal
Meridian, all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana
and being part of Lot No. 10, as shown on The Plat of the Original Town, now City, of South Bend
and being more particularly described as follows:
Beginning at the northwest comer of Lot No. 10 of said Plat of the Original Town, now City, of
South Bend; thence east, along the north line of said Lot No. 10, a distance of 165 feet more or less,
to the northeast comer of said Lot No. 10, thence south, along the east line of said Lot No. 10 and
also being along the west line of a 14 feet wide, north -south alley, a distance of 26 feet to a point of
intersection of said west line of the north -south alley with the north line of a 14 feet wide, east -west
alley; thence west, along the said north line of the east -west alley and being parallel with and 26 feet
south of the said north line of Lot No. 10, a distance of 165 feet, more or less, to a point on the east
line of a public street, now known as Main Street; thence north, along the said east line of Main
Street and being also along the west line of said Lot No. 10, a distance of 26 feet to the Point of
Beginning of this description and containing 4,290 square feet, more or less.
C"
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DESCRIPTION - PARCEL 4B
A parcel of land located in the West Half (W' /Z) of the Northwest Quarter (NW' /4) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second (2nd) Principal
Meridian, all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana
and being part of Lot No. 10, as shown on The Plat of the Original Town, now City of South Bend
and being more particularly described as follows:
Beginning at a point on the west line of said Lot No. 10, extended south at a distance of 7.0 feet
south of the southwest corner of said Lot No. 10; thence north, along said west line of Lot No. 10
extended south and along said west line of Lot No. 10, also being along the east line of a public
street, now known as Main Street, a distance of 33.0 feet to a point of intersection of said west line
of Lot No. 10 with the south line of a 14 feet wide, east -west alley; thence east, along the said south
line of the 14 feet wide east -west alley and being parallel with and 26 feet north of the south line of
said Lot No. f 0, a distance of 165 feet, more or less, to a point of intersection with the west line of
a 14 feet wide, north -south alley; thence south along said west line of the 14 feet wide alley and also
being along the east line of said Lot No. 10, a distance of 33 feet; thence west, parallel with and 7.0
feet south of the south line of said Lot No. 10, a distance of 165 feet, more or less, to the Point of
Beginning of this description and containing 5,445 square feet, more or less.
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DESCRIPTION OF ALLEY VACATION
A parcel of land located in the West Half (W'h) of the Northwest Quarter (NW' /<) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second (2nd) Principal
Meridian, all being in the City of South Bend, Portage Township, St. Joseph County, Indiana and
being part of a 14 feet wide, east -west alley as shown on the Plat of the Original Town, now City,
of South Bend and being more particularly described as follows:.
Beginning at the northeast corner of Lot No. 9, as shown on the said Plat of The Original Town, now
City, of South Bend; thence west, along the south line of said 14 feet alley and also being along the
north line of said Lot No. 9, a distance of 165 feet, more or less, to the northwest comer of said Lot
No. 9 and also being a point on the east line of a public street, now known as Main Street; thence
north, along the said east line of Main Street, a distance of 14 feet to the southwest comer of Lot No.
10, as shown on the said Plat of the Original Town, now City, of South Bend; thence east, along the
south line of said Lot No. 10, a distance of 165 feet, more or less, to the southeast comer of said Lot
No. 10 and also being a point of intersection of the north line of the said east -west alley with the
west line of a 14 feet wide, north -south alley; thence south, along said west line of the north -south
alley, extended, a distance of 14 feet to the Point of Beginning of this description and containing
2,310 square feet, more or less.
The above described vacation is subject to the operation and maintenance of all existing public
utilities and shall remain subject until the termination of their uses by the various utility owners.
L6313590\DESCRIMALLEYVACA
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DESCRIPTION - PARCEL NO.5
A parcel of land located in the West Half (W %2) of the Northwest Quarter (NW' /+) of Section Twelve
(12), Township Thirty -Seven (37) North, Range Two (02)- East of the Second (2nd) Principal
Meridian, all being in the City of South Bend, Portage Township, St. Joseph County, Indiana and
also being part of Lot No. 9 as shown on the Plat of the Original Town, now City of South Bend and
being more particularly described as follows:
Commencing at the northeast corner of said Lot No. 9, as shown on the Plat of the Original Town,
now City of South Bend; thence west along the north line of said Lot No. 9, a distance of 36 feet to
the Point of Beginning; thence south, parallel with and 36 feet west of the east line of said Lot No.
9, a distance of 34 feet; thence west, parallel with and 34 south of the north line of said Lot No. 9,
a distance of 88 feet; thence north parallel with and 124 west of the east line of said Lot No. 9, a
distance of 34 feet to a point on the north line of said Lot No.9; thence east along the north line of
said Lot No. 9, a distance of 88 feet to the Point of Beginning of this description and containing
2,992 square feet, more or less.
DESCRIPTION OF PERMANENT EASEMENT FOR FOUNDATIONS
0 - PARCEL NO. 7A
A parcel of land located in the West Half (W' /z) of the Northwest Quarter (NW' /<) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second Principal Meridian,
all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana and being
part of an east -west alley, 14 feet in width, lying midway between Colfax Avenue on the south and
LaSalle Street on the north and extending west from Michigan Street, on the east, to Main Street on
the west and as shown on the Plat of the Original Town, now City of South Bend and being more
particularly described as follows:
Beginning at the northwest comer of Lot No. 4, as shown on the Plat of the Original Town, now City
of South Bend; thence west, along the south line of said 14 feet wide alley, a distance of 139 feet;
thence north; at right angles to the said south line of the 14 feet wide alley, a distance of 2.0 feet;
thence east, parallel with and 2.0 feet north of said south line of the 14 feet wide alley, a distance of
85 feet; thence north, at right angles to the said south line of the 14 feet wide alley, a distance of 6.0
feet; thence east, parallel with and 8.0 feet north of said south line of the 14 feet wide alley, a
distance of 94.0 feet; thence south, at right angles to the said south line of the 14 feet wide alley, a
distance of 8.0 feet to a point on the said south line of the 14 feet wide alley; thence west, along the
said south line of the 14 feet wide alley and also being along the north line of said Lot No. 4, a
distance of 40 feet to the Point of Beginning of this description and containing 734 feet, more or less.
l.-
to)
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DESCRIPTION OF PERMANENT EASEMENT FOR FOUNDATIONS
PARCEL NO. 7B
A parcel of land located in the West Half (W%) of the Northwest Quarter (NW %.) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second Principal Meridian,
all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana and being
part of Lot No. 9, as shown on the Plat of the Original Town, now City of South Bend and also being
part of parcel IV as described in Warranty Deed 9346081 -dated November 8, 1993 and more
particularly described as follows:
Commencing at the northeast corner of Lot No. 9, as shown on the Plat of the Original Town, now
City of South Bend; thence west, along the north line of said Lot No. 9 and also being along the
south line of a 14 feet wide alley, a distance of 124 feet to the point of Beginning; thence south,
parallel with and 124 feet west of the east line of said Lot No. 9, a distance of 34 feet; thence east,
parallel with and 34 feet south of the north line of said Lot No. 9, a distance of 35.63 feet to a point
on the east line of Parcel IV as described in Warranty Deed 9346081; thence south, along said east
line of Parcel IV, a distance of 2.0 feet; thence west, parallel with and 36 feet south of the north line
of said Lot No. 9, a distance of 36.63 feet; thence north, parallel with and 125 feet west of the line
of said Lot No. 9, a distance of 36 feet to a point on the north line of said Lot No. 9; thence east
along the north line of said Lot No. 9 and also being along the said south line of a 14 feet wide alley,
a distance of 1.0 feet to the Point of Beginning of this description and containing 107 square feet,
more or less.
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DESCRIPTION OF PERMANENT EASEMENT FOR FOUNDATIONS
PARCEL NO. 7C
A parcel of land located in the West Half (W' /z) of the Northwest Quarter (NW/4) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second Principal Meridian,
all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana and being
part of Lot No. 8 and Lot No. 9, as shown on the Plat of the Original Town, now City of South Bend
and also being parts of Parcel II and Parcel III as described in Warranty Deed 9210195 -dated 4 -1 -93
and being more particularly described as follows:
Commencing at the northeast corner of said Lot No. 9, as shown on the Plat of the Original Town,
now City of South Bend; thence south, along the east line of Lot No. 9 and Lot No. 8 and also being
along the west line of a 14 -feet wide alley, a distance of 108 feet to the Point of Beginning; then
continuing south, along the east line of said Lot No. 8 and also being along the west line of a 14 feet
wide alley, a distance of 4.0 feet; thence west, parallel with and 112 feet south of the north line of
said Lot No. 9, a distance of 40 feet; thence north, parallel with and 40 feet west of the east line of
said Lot No. 8 and Lot No. 9, a distance of 76 feet; thence west, parallel with and 36 feet south of
said north line of Lot No. 9, a distance of 48.37 feet to a point on the east line of Parcel IV as
described in Warranty Deed 9346081; thence north along said east line of parcel IV, a distance of
2.0 feet; thence east, parallel with and 34 south of the north line of said Lot No. 9, a distance of
52.37 feet; thence south, parallel with and 36 feet west of the east line of said Lot No. 9 and Lot No.
8, a distance of 74 feet; thence east, parallel with and 108 feet south of the north line of said Lot No.
9, a distance of 36 feet to the Point of Beginning of this description and containing 544 square feet,
more or less.
DESCRIPTION OF PERMANENT EASEMENT FOR FOUNDATIONS
0 - PARCEL NO. 7D
A parcel of land located in the West Half (W %z) of the Northwest Quarter (NW' /,) of Section Twelve
(12), Township Thirty-Seven (37) North, Range Two (02) East of the Second Principal Meridian,
all being located in the City of South Bend, Portage Township, St. Joseph County, Indiana and being
part of a 14 feet wide north -south alley lying midway between Michigan Street on the east and Main
Street on the west and extending from Colfax Avenue on the south to LaSalle Street on the north and
as shown on the Plat of the Original Town, now City of South Bend and being more particularly
described as follows:
Commencing at the northwest comer of Lot No. 4, as shown on the Plat of the Original Town, now
City of South Bend; thence south, along the west line of Lot No. 4 and No. 5 and also being along
the east line of a 14 feet wide alley, a distance of 108 feet to the Point of Beginning thence
continuing south, along the west line of said Lot No. 5 and also being along the east line of a 14 feet
wide alley, a distance of 4.0 feet; thence west a distance of 14 feet to a point on the east line of Lot
No. 8 and also being on the west line of a 14 feet wide alley, said point being 112 feet south of the
northeast corner of said Lot No. 9; thence north along the east line of said Lot No. 8 and also being
along the west line of a 14 feet wide alley, a distance of 4.0 feet; thence east a distance of 14 feet to
the Point of Beginning of this description and containing 64 square feet, more or less.
14P
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EXHIBIT D
LEASE PAYMENT SCHEDULE
FOR ORIGINAL /COMBINED PROJECT
Total Amount of Lease Amount of Lease
Lease Payment Payment Allocable to Payment Allocable to
Payment Date Original/Combined Project Original Project (30 %) Combined Project (70 %)
7 -28 -97 $98,500.00 $29,556.00 $68,950.00
1 -28 -98 98,500.00 29,550.00 68,950.00
7 -28 -98 - . 98,500.00 29,550.00 68,950.00
1 -28 -99 98,500.00 29,550.00 68,950.00
7 -28 -99 98,500.00 29,550.00 68,950.00
1 -28 -00 98,500.00 29,550.00 68,950.00
7 -28 -00 98,500.00 29,550.00 68,950.00
1 -28 -01 98,500.00 29,550.00 68,950.00
7 -28 -01 98,500.00 29,550.00 68,950.00
1 -28 -02 98,500.00 29,550.00 68,950.00
7 -28 -02 98,500.00 29,550.00 68,950.00
1 -28 -03 98,500.00 29,550.00 68,950.00
7 -28 -03 98,500.00 29,550.00 68,950.00
1 -28 -04 98,500.00 29,550.00 68,950.00
f
J:\ W PDOC SWMOMPOL \STEBEND\MORRJS10R1GMAL.D lays
EXHIBIT D(2)
LEASE PAYMENT SCHEDULE
FOR ADDITIONAL /COMBINED PROJECT
1',\W PDOCMRROMPOUSTFBEND VNORRMORGADD.D2;rlr
Total
Amount of Lease
Amount of Lease
Lease Payment
Payment Allocable to
Payment Allocable to
Payment Date
Additional/Combined Project Additional Project (80 %)
Combined Project (20 %�
7/28/99
$695,000
$556,000
$139,000
1/28/00
695,000
556,000
139,000
7/28/00
695,000
556,000
139,000
1/28/01
695,000
556,000
139,000
7/28/01
695,000
556,000
139,000
1/28/02
695,000
556,000
139,000
7/28/02
695,000
556,000
139,000
1/28/03
695,000
556,000
139,000
7/28/03 -
695,000
556,000
139,000
1/28/04
695,000
556,000
139,000
7/28/04
695,000
556,000
139,000
1/28/05
695,000
556,000
139,000
7/28/05
695,000
556,000
139,000
1/28/06
695,000
556,000
139,000
7/28/06
695,000
556,000
139,000
1/28/07
695,000
556,000
139,000
7/28/07
695,000
556,000
139,000
1128/08
695,000
556,000
139,000
7/28/08
695,000
556,000
139,000
1/28/09
695,000
556,000
139,000
7/28/09
695,000
556,000
139,000
1/28110
695,000
556,000
139,000
7/28/10
695,000
556,000
139,000
1/28/11
695,000
556,000
139,000
7/28/11
695,000
556,000
139,000
1/28/12
695,000
556,000
139,000
7/28/12
695,000
556,000
139,000
1/28/13
695,000
556,000
139,000
7/28/13
695,000
556,000
139,000
1/28/14
695,000
556,000
139,000
7/28/14
695,000
556,000
139,000
1/28/15
695,000
556,000
139,000
7/28/15
695,000
556,000
139,000
1/28/16
695,000
556,000
139,000
7/28/16
695,000
556,000
139,000
1/28/17
695,000
556,000
139,000
7/28/17
695,000
556,000
139,000
1/28/18
695,000
556,000
139,000
7/28/18
695,000
556,000
139,000
1/28/19
695,000
556,000
139,000
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