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HomeMy WebLinkAbout4A Exhibit B Officer's Certificate (Eddy Street Commons Project)bank.. Global Corporate Trust Services 60 Livingston Avenue, EP-MN-WS3C St. Paul. MN 55107 usbank.com March 1, 2019 Ms. Jennifer Hockenhull, Controller City of South Bend, Indiana 1400 County -City Building 227 West Jefferson Blvd. South Bend, IN 46601 Re: South Bend Redevelopment Authority Lease Rental Revenue Refunding Bond of 2015 (Eddy Street Commons Project) Dear Ms. Hockenhull: This letter is being sent in advance of the due date of the following item(s) to assist you in providing us with the required documentation in a timely manner. Item Document Reference Due Date Exhibit B Officer's Certificate First Supplemental Trust Agreement 03/31/2019 6.03 If the requested item(s) has been sent, you may disregard this letter. If possible, please send your item(s) to us electronically in an unalterable portable document format (pdf). We appreciate your attention to this matter. Please contact me at the telephone number or email address below to discuss any questions or concerns you may have regarding the content of this letter. You may also contact your Relationship Manager, T. Scott Fesler, at 317-264-2501. Sincerely, Diane Carlson Trust Review Analyst Telephone: 651-466-6288 Facsimile: 651-466-7427 Email: diane.carlson@usbank.com Account Number: 263352000 Tickler Number(s): 1338977 .4C-�Riv® DAT CERTIFICATE OF PROPERTY INSURANCE E(MM/DD/YYYY) 03/11 /2019 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. PRODUCER CONTACT Ashley Griffin NAME: Gibson Insurance Agency, Inc. PHONE (800)814-2122 FAX(800)836-2122 A/C No Ex AIC, No): 130 S Main St, Ste 400 E-MAIL a riffin ibsonins.com ADDRESS: 9 @9 PO Box 11177 PRODUCER 00003140 CUSTOMER ID: INSURER(S) AFFORDING COVERAGE NAIC # INSURERA: Federal Ins Co 20281 South Bend IN 46601-0177 INSURED South Bend Redevelopment Authority INSURER B: 1200 N County City Building INSURER C: Dept of Admin & Finance INSURER D: South Bend IN 46601 INSURER E: INSURER F; EAll BASIC BUILDING COVERAGES CERTIFICATE NUMBER: 19M 8 Eddy SI Prop REVISION NUMBER: LOCATION OF PREMISES I DESCRIPTION OF PROPERTY (Attach ACORD 101, Additional Remarks Schedule, If more space is required) Loc# 00001: Eddy Street Commons 1234 N Eddy ST Parking Garage South Bend IN 46617 See Attached Overflow Pages THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION COVERED PROPERTY LIMITS LTR DATE (MM/DDIYYYY) DATE (MMIDDNYYY) PROPERTY BUILDING $36,000,000 SES OF LOSS DEDUCTIBLES PERSONAL PROPERTY $ EAll BASIC BUILDING BUSINESS INCOME $ 15,000,000 BROAD CONTENTS EXTRA EXPENSE $ Included $ Included SPECIAL RENTAL VALUE A 35903434EUC 01/01/2019 01/01/2020 BLANKET BUILDING EARTHQUAKE 50,000 $ WIND $ BLANKET PERS PROP X1 FLOOD 50,000 $ BLANKET BLDG & PP X1 Flood / 72 $ 25,000,000 Flood X1 Special form 25,000 $ 25,000,000 $ x Earthquake INLAND MARINE TYPE OF POLICY CAUSES OF LOSS POLICY NUMBER $ NAMED PERILS $ CRIME $ TYPE OF POLICY BOILER&MACHINERY I EQUIPMENT BREAKDOWN $ Is SPECIAL CONDITIONS I OTHER COVERAGES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) U.S. Bank National Association is named as Mortgagee. Re: South Bend Redevelopment Authority Lease Rental Revenue Refunding Bond of 2015 (Eddy Street Commons Project) Coverage is written on Replacement Cost basis. U.S. Bank National Association, as Trustee 60 Livingston Ave St. Paul MN 55107-2292 UANCtLLAI ION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ©1995-2015 ACORD CORPORATION. All rights reserved. ACORD 24 (2016/03) The ACORD name and logo are registered marks of ACORD EXHIBIT B OFFICER'S CERTIFICATE Reference is made to the Trust Agreement dated as of March 1, 2008, as amended (the "Governing Document"), between the South Bend Redevelopment Authority, a public body corporate and politic, organized and existing under Indiana Code 36-7-14.5, as amended (the "Company"), and U.S. Bank National Association, as trustee (the "Trustee"). The undersigned officer hereby certifies to the Trustee that: (i) I have read all relevant sections of the Governing Documents relating to Insurance and the definitions relating thereto; (ii) I have made such examination or investigation as is necessary or appropriate in order to make the statements contained herein; (iii) I have made such examination or investigation as is necessary to enable me to express an informed opinion as to whether or not the terms, conditions and covenants in the Governing Documents with respect to insurance matters have been complied with; and (iv) Based on examination and review of the Governing Documents, all of the terms, conditions and covenants set forth in the Governing Documents as they relate to Insurance matters have been satisfied and are in full force and effect. IN WITNESS WHEREOF, the undersigned has executed this Officer's Certificate this day of , 20 SOUTH BEND REDEVELOPMENT AUTHORITY Un FM secured by this Agreement is fully paid, except upon compliance with the provisions of Section 10.02. The Authority further covenants that any modification permitted by this paragraph will be made only after a copy thereof has been filed with the Trustee. The Authority shall not agree to any modification of the terms of the Lease, to a termination of the Lease or a reduction of the lease rental without the express written consent of the Reserve Insurer." SECTION 6.03. Amendment to Section 6.03. The Authority and the Trustee amend Section 6.03 of the Original Trust Agreement to read in its entirety as follows: "Except as provided in Section 6.01(c), such insurance policies shall be maintained in insurance companies rated A+ 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. Not later than ninety (90) days after the end of its Fiscal Year, the Authority shall deliver to the Trustee a certificate in the form of Exhibit B hereto, signed by an officer of the Authority. If the Authority fails at any time to obtain or maintain at least the minimum insurance required under this Trust Agreement, it shall immediately notify the Trustee and the Reserve Insurer in writing of such failure. The Trustee makes no representation as to, and shall have no responsibility for the sufficiency or adequacy of the insurance." ARTICLE VII GENERAL COVENANTS AND PROVISIONS SECTION 7.01. Tax Covenants. (a) Preservation of Tax Exemption by the Authori1y. The Authority hereby covenants and agrees to take all actions and not to fail to take any actions which are necessary in order to protect and preserve the excludability of the interest on the 2015 Bonds from gross income of the holders thereof under Section 103 of the Code for federal income tax purposes, in accordance with Section 5.08 of the Original Trust Agreement. (b) Preservation of Tax Exemption by the Tru tee. The Trustee covenants and agrees not to take any action or omit to take any action or permit any action or omission which is within its control to be taken or omitted which would, to its knowledge, impair the excludability of interest on any of the 2015 Bonds from gross income for federal income tax purposes; provided, that the Trustee shall not be deemed to have constructive knowledge of the Code. (c) Investment Covenants. Without limiting paragraphs (a) and (b) of this Section 7.01, the Authority further covenants and agrees that it will not take any action or fail to take any action with respect to the investment of the proceeds of any 2015 Bonds or any other agreement or instrument entered into in connection therewith or with the issuance of the 2015 -14-