HomeMy WebLinkAboutNo. 1133 approving the execution of a second addendum to the lease for the AEDA taxable and public improvement projectRESOLUTION NO. 44�_�
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING THE EXECUTION OF A SECOND
ADDENDUM TO THE LEASE FOR THE AIRPORT ECONOMIC
DEVELOPMENT AREA TAXABLE AND PUBLIC IMPROVEMENT PROJECT
WHEREAS, the South Bend Redevelopment Authority (the "Authority ")
previously entered into a lease between the Authority and the South
Bend Redevelopment Commission (the "Commission ") dated as of August
1, 1990, as amended by an addendum dated December 1, 1990, (the lease
and the addendum collectively referred to herein as the "Lease "),
pursuant to which the Authority will lease certain land and
improvements (the "Project ") to the Commission; and
WHEREAS, the Commission desires to approve and execute a second
addendum to the Lease (the "Second Addendum "), a copy of which is
attached hereto as Exhibit "A ", reflecting a change in the
commencement date of the Lease and Project description among other
items.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. The Lease shall be amended to change the commencement date of
the Lease and the Project description and other items as set forth in
Exhibit "A" hereto.
2. All remaining terms, covenants and conditions as set forth in
the Lease shall remain in full force and effect.
3. The President and Secretary of the Commission are hereby
authorized and directed to execute and attest, respectively, the
Second Addendum attached hereto as Exhibit "A".
4. This resolution shall be in full force and effect after its
adoption by the Commission.
ADOPTED at a meeting of the South Bend Redevelopment Commission
held on February 5, 1993, at 1308 County -City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
,_Al� '��X�_V/? ��_
Theo F. Sha , Secre ary
RESO2 /R- AIRPORT
SOUTH B D REDEVELOPMENT COMMISSION
By: G� �V •c�L,✓
Paula N. Auburn, President
' SECOND ADDENDUM TO LEASE
SOUTH BEND REDEVELOPMENT AUTHORITY TO
SOUTH BEND REDEVELOPMENT COMMISSION
(Airport Economic Development Area
Public Improvement Project and
Taxable Improvement Project)
THIS SECOND ADDENDUM, made and entered into this 5th day of
February, 1993, by and between the South Bend Redevelopment Authority,
a body corporate and politic organized and existing under Indiana Code
36 -7 -14.5 (hereinafter with its successors and assigns referred to as
the "Authority "), and the South Bend Redevelopment Commission, the
governing body of the South Bend Department of Redevelopment and the
Redevelopment District of South Bend, Indiana (hereinafter called the
"Lessee "),
WITNESSETH
In consideration of the mutual covenants herein contained it is
agreed that the Lease (Airport Economic Development Area Public
Improvement Project and Taxable Improvement Project) previously
entered into between said parties as of the first day of August, 1990,
as amended and restated on December 1, 1990, shall be further amended
as follows:
1. Section 2 of the Lease shall be and hereby is amended to read
as follows:
Section 2. Lease of Project. In consideration of
the rentals and other terms and conditions herein
specified the Authority does hereby lease, demise
and let to the Lessee the Project: TO HAVE AND TO
HOLD the same with all rights, privileges,
easements and appurtenances thereunto belonging,
unto the Lessee for a term beginning on the date of
execution of this Lease, and ending on the day
prior to such date twenty -two (22) years
thereafter. However, the term of this Lease shall
terminate 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, (iii) to refund such refunding
obligations, or (iv) to improve the leased
property. The dates the Tax - Exempt Project and the
Taxable Project are 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 dates 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.
2. Section 14 of the Lease is amended by deleting the entire
text of said Section 14 and substituting the following as the text of
Section 14:
Section 14. Option to Purchase. (a) Tax -
Exempt Project. The Authority hereby grants to
the Lessee the right and option, on any rental
payment date, upon thirty days' written notice to
the Authority, to purchase the Tax - Exempt Project
at a price equal to the amount required to enable
the Authority to provide for the redemption of
all outstanding Tax - Exempt Bonds, all premiums
payable on the redemption thereof, and accrued and
unpaid interest thereon, and to pay the cost of
redeeming the Tax - Exempt Bonds and liquidating the
Authority if it is to be liquidated. If the
Lessee exercises it option to purchase the
Tax - Exempt Project, the Lessee shall pay to the
Trustee that portion of the purchase price which
is required to provide for the payment of all
Tax - Exempt Bonds, including all premiums payable
on the redemption thereof, accrued and unpaid
interest thereon and costs of redemption thereof.
Such payment shall not be made until the Trustee
gives the Lessee a written statement that such
amount will be sufficient to retire all Tax - Exempt
Bonds including all premiums payable on the
redemption thereof and accrued and unpaid
interest. The remainder of such purchase price,
if any, shall be paid by the Lessee to the
Authority.
(b) Taxable Project. The Authority hereby
grants to the Lessee the right and option, on any
rental payment date, upon thirty days' written
notice to the Authority, to purchase all of a part
of the Taxable Project. If the Lessee determines
to purchase all of the Taxable Project, the
purchase price shall equal the amount required to
enable the Authority to provide for the
redemption of all outstanding Tax - Exempt Bonds,
all premiums payable on the redemption thereof,
and accrued and unpaid interest thereon, and to
pay the cost of redeeming the Tax - Exempt Bonds and
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liquidating the Authority if it is to be
liquidated. The Lessee shall pay to the Trustee
that portion of the purchase price which is
required to provide for the payment of all
Tax - Exempt Bonds, including all premiums payable
on the redemption thereof, accrued and unpaid
interest thereon and costs of redemption thereof.
Such payment shall not be made until the Trustee
gives the Lessee a written statement that such
amount will be sufficient to retire all Tax - Exempt
Bonds including all premiums payable on the
redemption thereof and accrued and unpaid
interest. The remainder of such purchase price,
if any, shall be paid by the Lessee to the
Authority. If the Lessee determines to purchase a
part of the Taxable Project, the purchase price
shall be equal to the amount determined by the
Authority to be required to redeem a corresponding
amount of the outstanding Taxable Bonds, including
all premiums payable on the redemption thereof,
accrued and unpaid interest thereon and the costs
of redemption thereof. The Lessee shall pay to
the Trustee that portion of the purchase price
which is required to provide for the payment of
the amount of the Taxable Bonds identifying by the
Authority 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 that such amount
shall be sufficient to retire the amount of
Taxable Bonds identified by the Authority
including all premiums on the redemption thereof
and accrued and unpaid interest. The remainder of
the purchase price, if any, shall be paid by the
Lessee to the Authority.
Upon request to 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
purchase the Tax - Exempt Project and /or all or a
part of the Taxable Project in accordance with the
preceding paragraphs. Nothing herein contained
shall be construed to provide that the Lessee
shall be under any obligation to purchase the
Projects, or under any obligation in respect to
any creditors or bondholders of the Authority.
If the Lessee has not exercised its option to
purchase the Tax - Exempt Project or has not
exercised its option to purchase all or part of
the Taxable Project, at the expiration of the term
of the Lease and upon the full discharge and
performance by the Lessee of its obligations under
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this Lease, the Authority shall execute a deed of
Ai
the Tax - Exempt Project and all or the remaining
part of the Taxable Project to the Lessee
rconveying good and merchantable title thereto,
�+ subject only to the Permitted Encumbrances.
3. Exhibit B to the Lease - Taxable Project Description - shall
be and hereby is amended by amending the scope of the work to be
performed under (1) of Exhibit B to provide as follows:
(1) The engineering design of Northwest Loop
Improvements in the City of South Bend consisting
of the design of approximately 1100 linear feet of
U- shaped roadway separated by a 120 foot grassed
median located along the new alignment of Old
Cleveland Road, (the overall width to be 40' -0"
from back of curb to back of curb and the proposed
curb and gutter section is 2' -0" with a curb
height of 6 inches), lighting, extension of water
and sewer lines and appurtenant work, all of such
construction and related improvements when made,
to be made on the following described real estate
acquired or to be acquired by the Authority:
with the Northwest Loop Description contained at (1) of Exhibit B to
remain unchanged.
4. Exhibit B to the Lease - Taxable Project Description - shall
be and hereby is amended by adding four (4) additional parcels of
land and any improvements thereon situated in St. Joseph County,
Indiana, and needed in connection with local public improvements to
be constructed in the Airport Economic Development Area, to (2) of
Exhibit B which shall be added as paragraph (k), which shall read as
follows:
(k) (1) Lot 5 - A parcel of land in the Northeast
Quarter of Section 21, Township 38 North, Range 2 East,
German Township, St. Joseph County, Indiana, and
described as being Lot 5 of the Toll Road Industrial
Park - Section Three, recorded under instrument number
8717304, dated June 5, 1987 at the office of the
Recorder of St. Joseph County, Indiana, and containing
2.3634 acres, more or less, and is subject to all
easements, restrictions and covenants of record.
(2) Lot 11 - A parcel of land in the Northeast
Quarter of Section 21, Township 38 North, Range 2 East,
German Township, St. Joseph County, Indiana, and
described as being Lot 11 of Toll Road Industrial Park
- Section 6, as recorded under instrument number
8908570, dated April 7, 1989, at the office of the
Recorder of St. Joseph County, Indiana, and containing
3.7178 acres, more or less, and is subject to all
easements, restrictions and covenants of record.
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(3) Lot 15 - A parcel of land in the Northeast
Quarter of Section 21, Township 38 North, Range 2 East,
German Township, St. Joseph County, Indiana, and
described as being Lot 15 of Toll Road Industrial Park
- Section 6, as recorded under instrument number
8906570, dated April 13, 1989, at the office of the
Recorder of St. Joseph County, Indiana, and containing
14.5683 acres, more or less, and is subject to all
I easements, restrictions and covenants of record.
(4) Lot 18B - A parcel of land in the Northeast
Quarter of Section 21, Township 38 North, Range 2 East,
German Township, St. Joseph County, Indiana, and
described as being Lot 18B of Gainey's Replat of Lot 20
- Section One and Lot 18 - Section 6 of the Toll Road
Industrial Park, as recorded under instrument number
9029253, dated October 19, 1990, at the office of the
Recorder of St. Joseph County, Indiana, and containing
33.1433 acres, more or less, and is subject to all
easements, restrictions and covenants of record.
5. Exhibit C to the Lease - Tax Exempt Project Description -
shall be and hereby is amended by deleting the description, under (2)
of Exhibit C, the Brick/New Cleveland Road construction as one of the
items of which the Project consists, and substituting at (2) of
Exhibit C, the following:
(2) The construction of Quality Drive Road
Improvements in the City of South Bend consisting
of the construction of approximately 1000 linear
feet of roadway terminating in a cul de sac. The
right of way to be sixty feet (601) wide, meeting
the City of South Bend standard for a "Collector"
street. Pavement to be thirty -six feet (36') back
to back of curb. The pavement will be concrete.
Traffic lanes for acceleration and deceleration of
entering and exiting vehicles to be constructed at
Quality Drive's intersection with Brick Road.
Storm sewers to be constructed to drain the
roadway to a natural depression near the north end
of the roadway. Extension of water lines and
appurtenant work, all such construction and
related improvements to be made on the following
described real estate acquired or to be acquired
by the Authority:
QUALITY DRIVE ROAD DESCRIPTION
Sixty foot right -of -way in Landmark Business
Park in the North half of Section 19, Township 38
North, Range 2 East, City of South Bend, German
Township, St. Joseph County, Indiana as recorded
under instrument number 9238271, dated October 14,
1992, in the Office of the Recorder, St. Joseph
County, Indiana.
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6. Exhibit C to the Lease - Tax Exempt Project Description -
shall be and hereby is amended by adding an additional item to the
list of items of which the Project consists, paragraph (5.1) which
shall read as follows:
(5.1) The engineering design.work for Redesigned
Realigned Old Cleveland Road, Phase II (Section 4)
consisting of preliminary engineering design,
final construction drawings, preparation of
specifications and bid packets and appurtenant
work, all such engineering work for public
Improvements to be made on the following described
real estate acquired or to be acquired by the
Authority:
REDESIGNED REALIGNED OLD CLEVELAND ROAD
PHASE II (SECTION 4) DESCRIPTION:
A part of the Southeast Quarter (SE 1/4) of
Section 20, the South Half (S 1/2) of Section 21,
and the Northeast Quarter (NE 1/4) of Section 28,
Township 38 North, Range 2 East, German Township,
St. Joseph County, Indiana, and more particularly
described as follows:
Commencing at the Southwest corner of the
Southeast Quarter (SE 1/4) of Section 20; thence.
North 0001915311 West, along the West line of said
Quarter Section, 2135..00 feet; thence North
89*4010711 East 78.50 feet to the True Point of
Beginning of this description; thence North
0001915311 West 40.00 feet; thence North 89*4010711
East 11-85.91 feet to the point of curvature of a
tangent curve to the right having a radius.of
1640.00 feet, and a central angle of 30*19'46";
thence southerly and.easterly along said curve
868.13 feet; thence South 60100107" East 3378.29
feet to the.point of curvature of a tangent curve
to left, having a radius of 1560.00 feet and a
central angle of 30038'47"; thence southerly-and
easterly along said curve 834.41 feet; thence
North 89*21.10611 East parallel.to the South, line of
the Southeast Quarter (SE 1/4) of Section 21,
286.57 feet to the East line of the property
described as Parcel I of Deed Record 7818352,
recorded the 25th day of August, 1978, of the
AIR" Records of St. Joseph County, Indiana; thence
%W South 00038'54" East along said line, 46.00 feet,
to the South line of said Section 21; thence South
89021'06" West, along the South line of said
Section 21, 501.00 feet to the West line of
Airport Industrial Park, Phase IV ; thence South
0003815411 East along said line, 20.00 feet to the
South Right.-of-Way of Old Cleveland-Road; thence
South 89*21'06" West along said Right-of-Way
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7. Exhibit C to the Lease - Tax - Exempt Project Description -
shall be and hereby is amended by adding an additional item to the
list of items of which the Project consists, paragraph (7) which
shall read as follows:
(7) The engineering design work.for the Sludge
Farm Access Road consisting of preliminary
engineering design, final construction drawings,
preparation of specifications and bid packets and
appurtenant work, all such engineering work for
public improvements to be made, when made, on the
following descri.bed.real estate acquired or to be
acquired by the Authority:
SLUDGE FARM ACCESS ROAD
A parcel of land, located in the South half (S
1/2) of the Southwest Quarter (SW 1/4) of Section
21, and the North Half (N 1/2) of the Northwest
Quarter (1/4) of Section 28, Township 38 North,
Range 2 East, German Township, St. Joseph County,
Indiana, and more particularly described as
follows:
Commencing at the Southwest corner of Section 21;
thence North 89022117" East 1351.22 feet; thence
South 00 037'43" East 20.00 to the South
Right -of -Way of Old Cleveland-Road- and the True
Point of Beginning of this description; thence
South 89 022'17" West, parallel to the North line
of the Northeast Quarter (NE 1/4) of Section 28,
30.00 feet; thence North 00037143" West 55.00 feet
to the point of curvature of a tangent curve to
the right, having a radius of 1307.31 feet and a
central angle of 30037'3711; thence northerly and
easterly along said curve 698.81 feet to the South.
Right. -of -Way of F. Jay Nimtz Parkway (NIMTZ);
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329.00 feet to the West line of the Northeast
Quarter (NE 1/4) of Section 28; thence South
89 022'17" West along said Right -of -Way 205.00
feet; thence North 00 °37'43" West 166.63 feet to
Aw
the point of curvature of a curve to the right
having a radius of 1640.00 feet, a chord bearing
North 61 °45'00" West and a chord length of 100.05
feet; thence northerly and westerly along said
curve 100.07 feet; thence North 60000107" West
z
3378.29 feet to the point of curvature. of a
tangent curve to the left having a radius of
1560.00 feet, and a central angle of 30x19'46 ";
thence northerly and westerly along said curve
825.78 feet; thence South 89 040'07" West 1185.91
feet; thence North 00 019153" West 40.00 feet to
the Point of Beginning. Containing 12.48 acres,
more or less.
7. Exhibit C to the Lease - Tax - Exempt Project Description -
shall be and hereby is amended by adding an additional item to the
list of items of which the Project consists, paragraph (7) which
shall read as follows:
(7) The engineering design work.for the Sludge
Farm Access Road consisting of preliminary
engineering design, final construction drawings,
preparation of specifications and bid packets and
appurtenant work, all such engineering work for
public improvements to be made, when made, on the
following descri.bed.real estate acquired or to be
acquired by the Authority:
SLUDGE FARM ACCESS ROAD
A parcel of land, located in the South half (S
1/2) of the Southwest Quarter (SW 1/4) of Section
21, and the North Half (N 1/2) of the Northwest
Quarter (1/4) of Section 28, Township 38 North,
Range 2 East, German Township, St. Joseph County,
Indiana, and more particularly described as
follows:
Commencing at the Southwest corner of Section 21;
thence North 89022117" East 1351.22 feet; thence
South 00 037'43" East 20.00 to the South
Right -of -Way of Old Cleveland-Road- and the True
Point of Beginning of this description; thence
South 89 022'17" West, parallel to the North line
of the Northeast Quarter (NE 1/4) of Section 28,
30.00 feet; thence North 00037143" West 55.00 feet
to the point of curvature of a tangent curve to
the right, having a radius of 1307.31 feet and a
central angle of 30037'3711; thence northerly and
easterly along said curve 698.81 feet to the South.
Right. -of -Way of F. Jay Nimtz Parkway (NIMTZ);
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and also
A parcel of land, located in the South half (S
1/2) of the Southwest Quarter (SW 1/4) of Section
21, and the North Half (N 1/2) of the Northwest
Quarter (1/4) of Section 28, Township 38 North,
Range 2 East, German Township, St. Joseph County,
Indiana, and more particularly described as
follows:
Commencing at the Southwest corner of Section 21;
thence North 89 °22117" East along the South line
of said Section 21, 1381.22 feet to the East line
of the above- described parcel and the True Point
of Beginning of this description; thence South
00 037143" East 20.00 feet; thence North 89 022'17"
East, parallel to the South line of said Section
21, 825.05 feet to the point of curvature of a
tangent curve to the left, having a radius of
60.00 feet and a central angle of 240 000'00 ";
thence beginning northerly and easterly along said
curve 251.33 feet to the point of curvature of a
tangent curve to the right, having a radius of
1.00.00 feet and a central angle of 60 °00 "00 ";
thence southerly and westerly along said curve
104.72 feet; thence South 89 022'17" West, parallel .
to the South line of said. Section 21, 686.49 feet;
thence South. 00 037'43" East, along. the East line
of the above - described parcel, 20.00 feet to the
Point of Beginning. Containing 1.0 acres, more or
less.
S. The parties hereto acknowledge that all remaining terms,
covenants, and conditions as set forth in the Lease between the
parties hereto and executed as.of the f.irst.day of August., 1.990,
shall remain in full force and effect.
thence South 60000'07' East along said
Right -of -Way, 60.00 feet to the point of curvature
of a curve to the left, having a radius of 1247.31
feet, a chord bearing of South 14 041105" West and
a chord length of 658.82 feet; thence southerly
and westerly along said curve 666.73 feet; thence
South 00 037143" East 55.00 feet to the South
Right -of -Way of Old. Cleveland Road; thence South
89 022117" West, parallel to the North line of said
quarter section, 30.00 feet to the Point of
Beginning. Containing 1.02 acres, more or less..
and also
A parcel of land, located in the South half (S
1/2) of the Southwest Quarter (SW 1/4) of Section
21, and the North Half (N 1/2) of the Northwest
Quarter (1/4) of Section 28, Township 38 North,
Range 2 East, German Township, St. Joseph County,
Indiana, and more particularly described as
follows:
Commencing at the Southwest corner of Section 21;
thence North 89 °22117" East along the South line
of said Section 21, 1381.22 feet to the East line
of the above- described parcel and the True Point
of Beginning of this description; thence South
00 037143" East 20.00 feet; thence North 89 022'17"
East, parallel to the South line of said Section
21, 825.05 feet to the point of curvature of a
tangent curve to the left, having a radius of
60.00 feet and a central angle of 240 000'00 ";
thence beginning northerly and easterly along said
curve 251.33 feet to the point of curvature of a
tangent curve to the right, having a radius of
1.00.00 feet and a central angle of 60 °00 "00 ";
thence southerly and westerly along said curve
104.72 feet; thence South 89 022'17" West, parallel .
to the South line of said. Section 21, 686.49 feet;
thence South. 00 037'43" East, along. the East line
of the above - described parcel, 20.00 feet to the
Point of Beginning. Containing 1.0 acres, more or
less.
S. The parties hereto acknowledge that all remaining terms,
covenants, and conditions as set forth in the Lease between the
parties hereto and executed as.of the f.irst.day of August., 1.990,
shall remain in full force and effect.
IN WITNESS WHEREOF, the parties
Addendum to Lease to be executed for
and year first hereinabove written.
ATST :
Donald Fewell,
Secretary
ATTEST:
Theo F. S arp, Sec Lary
STATE OF INDIANA
SS:
COUNTY OF ST. JOSEPH
hereto have caused this Second
and on their behalf on the day
By-94taz4d �)A4&oy�
!.. _ President
SOUTH B ID REDEVELOPMENT COMMISSION
By: 1G� sy
Paula N. Auburn, President.
Before me, the undersigned, a Notary Public in and for said
State, personally appeared Joseph Wroblewski and Donald Fewell,
personally known by me to be the President and Secretary,
respectively, of the South Bend Redevelopment Authority, and
acknowledged the execution of the foregoing Second Addendum to Lease
for and on behalf of said Authority.
WITNESS my hand and Notarial Seal this j f- day of
1993. .
My Co ission Expires:
I am a resident of
St. Joseph County, Indiana.
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(Written ignature)
(Printed Signature)
STATE OF INDIANA )
) SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for said
State, personally appeared Paula N. Auburn and Theo A. Sharp,
personally known by me to be the President and Secretary,
respectively, of the South Bend Redevelopment Commission, and
acknowledged the execution of the foregoing Second Addendum to Lease
for and on behalf of said Commission..
WITNESS my hand and Notarial Seal this day of ,
1993.
;Wri.tte Signature)
(Printed Signature)
My Commission Expires:
�'5
I am a resident of
St. Joseph County, Indiana.
This instrument was prepared by Jenny Pitts Manier, Chief As.si.stant
City Attorney, 1400 County -City Building, South Bend, IN 46602.
JPM /RES02 /A- AIRPORT
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