HomeMy WebLinkAboutNo. 0638 extinguishing demand note obligation of Rahn Properties IIRESOLUTION NO. 638
RESOLUTION OF THE SOUTH BEND DEPARTMENT OF REDEVELOP-
MENT EXTINGUISHING DEMAND NOTE OBLIGATION OF RAHN
PROPERTIES II
WHEREAS, on the 18th day of October, 1979, RAHN Properties II by
William R. Hansen, attorney in fact on behalf of JVJ South Bend Joint
Venture, a general partner and by Peter Roberts, a general partner on be-
half of RAHN /SBM, hereinafter referred to as the "Redeveloper ", executed
a Demand Note in favor of the South Bend Department of Redevelopment,
hereinafter referred to as the "Agency ", in the amount of ten thousand
dollars ($10,000.00);
WHEREAS, said Demand Note was executed by the Redeveloper to comply
with the good faith deposit provisions of Part II, Article I, Section 101
of the Ground Lease executed on October 22, 1979 by the Agency and the
Redeveloper;
WHEREAS, the provisions of Section 101(d) of said Ground Lease pro-
vide in pertinent part that upon the receipt by the Agency of specified
items that the deposit of the Redeveloper shall be returned;
WHEREAS, all items as specified in Section 101(d) have, as of this
date, been received by the Agency;
WHEREAS, the Redeveloper has submitted its request to the Agency
for the return of the note; and
WHEREAS, the original executed copy of the note has not been located
in the records of the Agency;
NOW, THEREFORE, BE IT RESOLVED, that the delivery to the Redeveloper
of a true and correct copy of the original of said note and the cancellation
noted on said copy shall constitute the return and the delivery of said
original note and the full extinguishment of any and all obligations repre-
sented thereby on behalf of the Redeveloper;
BE IT FURTHER RESOLVED, that a true and correct copy of the original
of said note be cancelled by the Agency and delivered to the Redeveloper
and proof of said delivery be filed with the Agency.
CITY OF SOUTH BEND DEPARTMENT
OF REDEVELOPMENT
. Jay N mt Pres' ent 2
Attest , -/
er uonaiason, Secretary
Date: .5 - /_ $ /