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1990-05-15 Resolution 22
a-r~ ~. RESOLUTION NO. 22 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING THE EXECUTION OF A SECOND ADDENDUM TO THE LEASE FOR THE SOUTH BEND CENTRAL DEVELOPMENT AREA 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 November 1, 1989 (the "Lease"), pursuant to which the Authority will lease certain land and public improvements (the "Project") to the Commission; and WHEREAS, the Authority has previously authorized the issuance of the "South Bend Redevelopment Authority Lease Rental Revenue Bonds (South Bend Central Development Area Public Improvement Project)" (the "Bonds") pursuant to IC 36 7 14.5-19 to finance the Project and to pay the costs of issuance of the Bonds; and WHEREAS, the Authority awarded the Bonds on March 27, 1990; and WHEREAS, the Authority has executed a Trust Agreement between the Authority and First Interstate Bank of Northern Indiana, N.A., as Trustee dated as of November 1, 1989 (the "Trust Agreement"). WHEREAS, the Authority on March 29, 1990 approved an Addendum to the Lease (the "Addendum") and an Amended and Restated Lease; and WHEREAS, the Authority and the Commission each executed and attested the Addendum on April 6, 1990; and ,f ~ WHEREAS, certain changes and modifications are required in Exhibit C of the Lease; and WHEREAS, said changes and modifications do not alter the character of the Project or reduce the value thereof; and WHEREAS, the Authority intends to execute an Amended Trust Agreement (the "Amended Trust Agreement"), which changes and modifies Exhibit A of the Trust Agreement to conform to the changes and modifications to Exhibit C of the Lease; and WHEREAS, such modifications to the Trust Agreement do not adversely impact the interest of the holders the Bonds; and WHEREAS, the Authority desires to approve and execute a Second Addendum to the Lease (the "Second Addendum"), a copy of which is attached hereto as Exhibit "A", making the required • changes and modifications to Exhibit C of the Lease; and NOW THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT AUTHORITY AS FOLLOWS: 1. The President and Secretary of the Authority are hereby authorized and directed to execute and attest, respectively, the Second Addendum and a Second Amended and Restated Lease as attached hereto as Exhibit "B". 2. The President and Secretary of the Authority are hereby authorized and directed to execute and attest, respectively, the Amended Trust Agreement, as attached hereto as Exhibit "C". 3. This resolution shall be in full force and effect after its adoption with the Authority. • -2- rlhill\sthbnd\tif-90\lura-app;c1;05/14/90; t~ ., '~ ADOPTED at a meeting of the South Bend Redevelopment Authority held on May 15th, 1990, at the office of the Authority, 1200 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH BEND RED VELOPMENT AUTHORITY By: se Wroblewski, President ATTEST George McCullough, Secre~~ry-'measurer -3- rlhill\sthbnd\tif-90\lura-app;c1;05/14/90; EXHIBIT "A" SECOND ADDENDUM TO LEASE I SOUTH BEND REDEVELOPMENT AUTHORITY TO SOUTH BEND REDEVELOPMENT COMMISSION (South Bend Central Development Area Public Improvement Project) THIS ADDENDUM, made and entered into this day of May, 1990, 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 (.South Bend Central Development Area Public Improvement Project) previously entered into between said parties as of November 1, 1989, and amended by the Addendum to Lease executed April 6, 1990, shall be further amended as follows: 1. Exhibit C of the Lease shall be amended to read in its entirety as follows: See Exhibit "A" attached hereto. 2. 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 November 1, 1989, shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this • Second Addendum to Lease to be executed for and on their behalf on the day and year first hereinabove written. SOUTH BEND REDEVELOPMENTAU/T~HO,RITY By : ~h~~/ `~ se Wroblewski, President SOUTH BEND REDEVELOPMENT COMMISSION Y . -~• F. Jay imtz, resident AST T : C e • Roman Piasecki, Secretary -2- • r1hi11\sthbnd\tif-90\adleas2;c1;05/10/90 EXHIBIT A I PROJECT DESCRIPTIONS The Project consists of the following: (1) The construction of Niles .Avenue .Parking and Landscaping Improvements (Phase IV) in the City of South Bend consisting of .the reconstruction and partial widening of a portion of Niles Avenue for a total distance of approximately 1,300 linear feet. and the construction of new curbs, walks and traffic islands along with on-street and .off-street public parking areas,- trees, lighting, drainage, striping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at a point on the West right-of-way line of Niles Avenue, one hundred thirty-two (132) feet South of the South right-of-way line extended of Washington Street continuing North along said West right-of-way line to a point one hundred sixty-five (165) feet North of the North right-of-way line of LaSalle Avenue, thence East a .distance of sixty six (66) feet to a point along the East right-of-way line of Niles Avenue one hundred sixty-five (165) feet North of the North right-of-way. line of LaSalle Avenue, thence South along said East right-of-way line to a point one hundred thirty two (132) feet South of the South right-of-way line of Washington Street, thence West a distance of sixty-six (66) feet back to the starting point. and -The following as described as being in the West half of the Northeast Quarter, Section Twelve (12), Township Thirty-Seven (37) North, Range Two (2) East, in Cottrell's Addition, City of South Bend, St. Joseph County, Indiana: Commencing at the northeast corner of Part Lot 5; thence due south for 131.79 feet; thence west for 60 feet; thence due north to the south right-of-way line of Washington Street vacated for 132.27 feet; thence east for 70 feet back to the point of beginning. It (2) The construction of Madison Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Madison Street for a total distance of approximately 335 linear feet and the construction of new curbs, gutters, parking areas, walks, and the addition of trees, lighting, drainage, striping and appurtenant work, such construction and related improvements to be made on the following. described real estate acquired or to be acquired by the Authority: Starting at a point along the North right-of-way line of Madison Street, four hundred sixty-seven (467) feet West of the point of intersection of said North right-of-way line and .the West right-of-way line of Niles Avenue, thence East .along said North right-of-way line to .said point of intersection; thence South along said West right-of-way line a distance of eighty two .and- one-half (82.5) feet to the point of intersection .with the South right-of-way line of Madison Street; thence West along said South right-of-way line a distance of four hundred sixty-two (462) feet to a point; thence Northwesterly along a line a distance of sixty two (62) feet,. more or less back to the starting point. i• (3) The construction of Washington Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Washington Street for a total distance of approximately 320 linear feet including rehabilitating and relaying the existing brick- roadway and the construction of new concrete curbs, gutters, parking areas, walks, traffic islands and addition of trees, lighting, drainage, striping and appurtenant work, such construction and related improvements to be made on the .following described real estate acquired or to be acquired by the Authority: Starting at the. point along the North right-of-way of Washington Street extended, 14 feet West of the :intersection of the East right-of-way line of Niles .Avenue ..and the North right-of-way line of Washington _ Street, thence East along said North right-of-way .line a distance of 373 feet to a point 14 feet East of the point of intersection with the West right-of-way line of .Hill Street, thence South parallel to said-West right-of-way line a distance of eighty two and one-half (82.5)' feet to the point of intersection with the South right-of-way line of Washington Street extended, thence West along said South right-of-way line to a point 14 feet West of the point of intersection with said East right-of-way line of Niles Avenue; thence North parallel to said East right-of-way line back to the starting point. I (4) The construction and installation of the Riverbank Lighting Project consisting of the installation and improvement of approximately 36 light fixtures, poles and bases situated along a public pathway of approximately 4,560 feet on the western river bank of the St. Joseph River extending from the LaSalle Avenue Bridge to approximately. Monroe Street, including the installation of conduits, wires, conductors, electric panels and kiosks necessary for the completion of the project including trenching, necessary removal of asphalt pavement, concrete, rubble, trees, brush and other obstructions, tree trimming, fill work as required and construction of a concrete path at Pier Park, required brick removal, such construction, installation and related improvements to be made on the following described .real estate acquired or to be acquired by the Authority: Commencing at the southwest corner of Lot 1 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north, range 2 east; thence west along the north side of Jefferson Boulevard for 290.00 feet to the point of beginning; thence northwest for 111.26 feet, thence northwest for 129.18 feet, thence northwest for 146.45 feet, thence northwest for 124.87 feet, thence southeast running along the west side of the St. Joseph River for approximately 380.00 feet, also being the north side of Jefferson Boulevard, thence east for 145.00 feet back to the point of beginning; and Commencing at the southeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the northwest corner of Tract 3 in the River Bend Addition and situated in .the east half (1/2) of the northwest quarter (1/4) of section Twelve (12), Township 37 north, range 2 east; thence southeast for 140.00 feet, thence southeast for 250.79 feet, thence due south .along the radius for 117.8 feet, thence southeast for 122.42 feet, thence southeast for 134.06 feet, thence northeast for 74.66 feet, thence northwest for 113.4 feet, thence west for 29.7 feet, thence northwest for 17.27 feet, thence. northeast for 27.47 feet, thence north for 45.54 feet, thence northwest for 64.38 feet, thence northwest for 38.49 feet, thence southwest for 24.41 feet, thence northwest for 178.5 feet, thence northeast for. 10.75 feet, thence northwest for 34.2 feet,. thence southwest for 10.75 feet, thence northwest for 57.6 feet, thence north for 83.94 feet, thence west for 95 feet back to .the point of beginning; and Commencing at the northeast corner of Madison Street and Lincolnway east, also being the southeast corner of Tract 8 (Key #34-83) in the River Bend Addition and situated in the west half (1/2) of the southeast .quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence 399.68 feet along the East line of said tract to the point of beginning; thence S. 52°07'42" west, 190.00 feet, thence north 46°02'06" west, 180.00 feet, thence north 65°47'18" west, 460 feet, thence north 38°42'21" west, 236.98 feet, thence north 70°06'30" west, 50.00 feet, thence north 04°39'38" west, 40.00 feet, thence north 65°42'29" east, 10.00 feet, thence north 25°39'11" west, 425.12 feet, thence. north 25°46'29" west, 232.03 feet, thence north 53°10'13" west, 108.76 feet, thence north 25° 55'32" west, 90.64 feet, thence north 19°47'16" west, 156.66 feet, :thence north 87°40'09" east, 94.06 feet, thence south 28°59'50" east, 145..12 .feet, thence south 23°06'10" east, 140..73 feet, .thence south 26°26'27" .east,. 149.84 feet thence south 20°04'37" east., 152.2.6 -feet, .thence south 22°53'19" east, 167.55 feet, thence ..south 34°56'19" east, 224.42 feet, thence south 31°26'14" east, 157.37 feet, thence .south 45°43'42." east, 161.61 feet, thence south 64°47'26" east, 159.34 feet, thence south 68°04'55" east, 228.93 feet, thence south 76°10'38" east, 234.62 feet back to the point of beginning; and Commencing at the northeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the southeast corner of Lot 91 in the River Bend Addition and situated in the west half (1/2) of the northwest quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence northwest 228.43 .feet .along the east right-of-way line of St. Joseph Street, thence north 87.18 feet along the east right-of-way line of St. Joseph Street, thence southeast for 108.76 feet, thence southeast .for 430.00 feet along the St. Joseph River back to the point of beginning. n ~J I (5) The construction of Morris Civic Plaza Improvements consisting of the reconstruction of existing improvements and the construction of new improvements including the partial demolition of the existing plaza, relocation of existing sculpture, the construction and installation of seating areas,' irrigation system, lighting, walkways, sculpture bases, planters, the rehabilitation of existing fountain and brick work areas, landscaping, drainage and appurtenant work, such construction and installation and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described .more particularly, as follows: Commencing at the Northeast corner of the Michigan Street and Colfax Avenue right-of-ways; thence due North a distance of 264 feet, thence Southwest along the North-South curb on the East side of Michigan Street to the North right-of-way line of Colfax Avenue, a distance of 284 feet; thence due East a distance of 45 feet back to the point of beginning. and A part of the northwest quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: Beginning at the intersection of the East boundary of North Michigan Street and the North boundary of East Colfax Street; thence North 89 degrees 39 minutes 37 seconds East a distance of 244.07 .feet; thence North 20 degrees 24 minutes 52 seconds West a distance of 53.52 feet; thence Northwesterly a distance of 153.59 feet along an arc to the left and having a radius of 243.98 feet and subtended by a long chord having a bearing of North 38 degrees 26 minutes 55 seconds West and a length of 151.07 feet; thence North 56 degrees 28 minutes 59 seconds West a distance of 96.35 feet; thence Northwesterly a distance of 56.94 feet along an • arc to the left and having a radius of 148.28 feet and subtended by a long chord having a bearing of North 69 degrees 59 minutes 03 seconds West and a length of 56.59 feet; thence South 00 degrees 28 minutes 59 seconds East a distance. of 242.50 feet to the place of beginning. Said tract contains 39,958 square feet (0.917 Acres), more or less. • i• (6) The construction of the Howard Park Wall Project consisting of the removal and replacement of the existing wall bordering Howard Park and the St. Joseph River for a distance of approximately 1,000 linear feet including the capping of the foundation of the existing wall, the installation of riprap along the base of the wall and the construction of a new four feet high wall and repair and/or replacement of the walkway along the wall and appurtenant work, such construction and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: Commencing at the northwest corner of Lot 4 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north,-Range 2 east; thence southeast along .the east. side of the St. Joseph River for approximately 1200 feet to the southeast corner of Lot 19, thence north for 20 feet, thence northwest parallel to the east :side of the St. Joseph River for approximately 1200 feet, the north line of Lot 4, thence west for 20 feet back to the point of beginning. I~ • (7) The construction of the Rink Riverside Walkway Project consisting of the construction of an eight foot wide concrete and timber walk and its incidental riverbank support system along the top of the eastern bank of the St..Joseph River which will connect the termination point of the existing portion of the Riverbank Trail to the north with the Colfax Avenue sidewalk, a distance of approximately 280 feet to the southeast including the construction of a ground level sidewalk west and north to the southwest corner of the Rink Riverside Building, a distance of approximately 230 linear feet and the construction of a structural wood deck walkway from the southwest corner of the Rink Riverside Building north to the existing wooden deck of the LaSalle-Sycamore Walkway, a distance of .approximately 140 .feet supported by a system of pilings and piers on the Riverbank and appurtenant work along with the removal of a 100 foot high brick smokestack and such other required related improvements and landscaping, such construction and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: That part of the Northwest quarter of Section 12, Township 37 North, Range 2 East and that part of Lots 7, 8 and 9 in the Original Plat of the Town of Lowell, now apart of the City of South Bend as recorded in the records of St. Joseph County, Indiana, which is described as: Beginning at the point of intersection of the north line of Colfax Avenue and the west line of Sycamore Street; thence west (assumed bearing} along a line 10 feet north and parallel to the northerly line of Colfax • Avenue, a distance of 100 feet; thence northwesterly along a line of 10 feet, more or less, easterly of the easterly bank of the St. Joseph River, a distance of 89 feet; thence west along a projected line perpendicular with- the St. Joseph River, a distance of 5 feet; thence northwesterly along a parallel line of 5 feet easterly of the easterly bank of the St. Joseph River, a distance of 40 feet, more or less; thence east along a line perpendicular with the St. Joseph River, a distance of 10 feet; thence northwesterly along a parallel line 15 feet more or less easterly of the easterly bank of the St. Joseph River, a distance of 11 feet, more or less; thence west 10 feet along a line perpendicular to the St. Joseph River; thence northwesterly to a point on the north lot line of Lot 7, a distance of 10 feet, more or less, east of the easterly bank of the St. Joseph River; thence west (assumed bearing) along said north lot line a distance of 10 feet, more or less, to the easterly bank of .the St. Joseph. River; thence southeasterly along said easterly bank to -the projected north line of Colfax Avenue; thence east along said. north line and its projection back to the .point of beginning. • u i• (8) The construction of the Viewing Park Project consisting of the continuation of the existing 8 foot walkway along the eastern Riverbank to connect into the sidewalk along Sample Street for a total linear distance of approximately 2700 feet and the improvement and paving of the driveways and parking areas in Viewing Park, incidential required lighing, landscaping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: The Southeast: Quarter of Section Twelve (12), Township • Thirty-seven (37) North, .Range two (2) East, City of -.South Bend, St. Joseph County, Indiana. Beginning. at the Southeast corner of Lot 213 of Heck's Addition and the easterly edge of the waters of the St. Joseph River; thence meandering Southeasterly and South along .said Easterly water's edge to the point of intersection with the North right-of-way line of Sample Street projected; thence Northeast along said projected North right-of-way line of Sample Street to the West right-of-way line of Northside Boulevard; thence Northwesterly and North along said West right-of-way line of Northside Boulevard to the East lot line of Lot 213 of Heck's Addition; thence South along said East lot line a distance of fifteen (15) feet, more or less, back to the point of beginning. The total area of the project site is approximately 6 acres. - i~ (9) The construction of Central Business District Curbs and Sidewalk Improvements consisting of replacement and .reconstruction of designated curbs and sidewalks in the City of South Bend as~follows: • (a) The sidewalk section located in front of the City parking lot on Lafayette Street- containing 825 sq. ft. of area and a curb section of 55 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City parking lot: Commencing at the southeast corner of lot 393; thence south for 55 feet, thence east for 15 feet, thence north for 55 feet, thence west for 15 feet back to the point of beginning. i, i• (b) The sidewalk section located at 228 Lafayette Street containing 600 sq. ft. of area and a curb section of 40 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence west for 15 feet, thence north for 40 feet,- thence east for 15 feet, thence south for 40 feet back to .the point of beginning.. ~J u i~ (c) The sidewalk section located at 228 Lafayette Street containing 795 sq. ft. of area and a curb section of 53 linear feet, such construction and' related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence north 65 feet to the point of beginning; thence west for 15 feet; thence north for 53 feet, thence east for 15 feet, thence south for 53 feet, back to the point of beginning. • (d) The sidewalk section located at the City approach on Lafayette Street between the Valley American Bank property and the Bath Building property containing 210 sq. ft. of area, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City Approach: Commencing at the southwest corner of Lot 244; thence south for 14 feet; thence west for 15 feet, thence north for 14 feet, thence east for 15 feet back to the point of beginning. l~J i• (e) The sidewalk section located at 312 West Colfax Avenue containing 1,235 sq. ft. of area and a curb section of 35 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 312 West Colfax: Commencing at the northwest corner of Lot 385; thence north for 19 feet, thence east for 65 feet, thence south for 19 feet, thence west for 65 feet back to the point of beginning. ~~ a T (f) The sidewalk section located at 135. North Lafayette Street containing 1,900 sq. ft. of area and a curb section of 100 linear feet, such construction and related improvements to be made on the following described .real estate acquired or to be acquired by the Authority: 135 N. Lafayette: Commencing at the northeast corner of Lot 385; thence south for 19 feet, thence west for 100 .feet, thence north for 19 feet, thence east for 100 feet back to the point of beginning. LJ i• (g) The sidewalk section located at the Colfax Theatre sidewalk containing 532 sq. ft. of area and a curb section of 38 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Colfax Theater: Commencing at the southwest corner of Lot 228; thence south for 14 feet, thence east for 38 feet, thence north for 14 feet, thence west for 38 feet back to the point of beginning. i~ (h) The sidewalk section located at the Christman Building starting on Colfax and continuing north on Main Street containing 4,986 sq. ft. of .area and a curb section of 356 linear-feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Christman Building: Commencing at the southeast corner of Lot 228; thence west for 144 feet, thence north for 14 feet, thence east for 129 feet, thence north for 198 feet, thence east for 15 feet, thence south for 212 feet back to the point of beginning. i• (i) The sidewalk section located at the South Bend Parking Lot on Main Street starting at the southeast corner of Lot 225 containing 5,490. sq. ft. of area and a curb section of 378 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Park & Lock Parking Lot: Commencing at the southeast corner of Lot 225; thence north for 198 feet, thence west for 165 feet, thence north for 14 feet, thence east for 180 feet, thence south for 212 feet, thence west for 15 feet back to the point of beginning. i• (j) The sidewalk section located at the City approach commencing at the northeast corner of Lot 226 on Main Street containing 210 sq. ft. of area, such construction and related improvements to be made on the following described real estate acquired or~to be acquired by the Authority: City Approach: Commencing at the northeast corner of Lot 226; thence north for 14 feet, thence east for 15 feet, thence south for 14 feet, thence west for 15 feet back to the point of beginning. • li (k) The sidewalk section, .located at 113 East Washington Street containing 675 sq. ft. of area and a curb section of 45 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Business Systems-113 E. Washington: Commencing at the southwest corner of Lot 18; thence west for 5 feet, thence south for 15 feet, thence east for 45 feet, thence north for 15 feet, thence west for 40 feet back to the point of beginning. i• i• (1) The sidewalk section located at 101 North Michigan Street containing 1,170 sq. ft. of area and a curb section of 78 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Fanny Mae's - 101 N. Michigan: Commencing at the southeast corner of Lot 18, thence west -for 78 feet, thence south for 15 feet, thence east for 78 feet, thence north for 15 feet back to the point of beginning. i• i i~ (m) The sidewalk section located at 125 West Colfax Avenue containing 272 sq. ft. of area and a curb section of 16 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Summit Bank - 125. W. Colfax.: Commencing at the southwest corner of Lot 7; thence west for 17 feet, thence south for 16 feet, thence. east for 17 feet, thence north for 16 feet back to the point of beginning. ~~ i i• (n) The sidewalk section located at the southeast corner of Lafayette Street and Jefferson Boulevard containing 2,920 sq. ft. of area and a curb section of 198 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Trigon Building - Corner of Lafayette and Jefferson: Commencing at the Northwest corner of Lot 270; thence East for 82.5 feet., thence North for 15 feet, thence West for 99.5 feet, thence South for 99 feet, thence east for 17 feet; thence north for 84 feet back to the point of beginning. i~ i 10. The acquisition by purchase or condemnation of vacant parcels of real estate in the City of .South Bend needed for redevelopment purposes, the location and legal descriptions of said parcels being as follows: I (12) The acquisition by purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes and the rehabilitation of the parcels of real estate and improvements, the locations and legal descriptions of said parcels being as follows: i• (a) 417 East South Street Title Commitment No. 73863 LEGAL DESCRIPTION A parcel of land in the East Half of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being a part of Lot 4 of Jodan's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot 1, also being the South right-of-way line of an 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed) 165.00 feet along said West right-of-way line; thence South 89°42'43" West, 57.32 feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet, to the North right-of-way line of South Street; thence South 89°42'43" West, 39.84 feet along said North right-of-way line; thence North 00°00'03" East, 55.09 feet; thence North 89°42'40" East, 39.84 -feet to the Point of Beginning. ~~ (b) 509 South Rush Street Title Commitment No. 73882 LEGAL DESCRIPTION A lot or parcel of land 63 feet in length, North .and South, taken off of and from the entire width of the South end of Lot Numbered Seventeen (17) as shown on the recorded Plat of John H. .Rush's First Addition to the City of South Bend, in St. Joseph County, Indiana. (c) .520 South Fellows Street Title Commitment No. 73876 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-Seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being part of Lot Numbered Two (2) of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot Numbered Two (2), also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), .38.00 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South .00°00'00" West, 29.00 feet; thence South 89°41'40" West, 55.00 feet to .the East right-of-way line of .Fellows Street; thence North 00°00'00" East, 29.00 feet along said East right-of-way line to the Point of Beginning. ~~ (d) 522 South Fellows Street Title Commitment No. 73575 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the middle 33.00 feet of Lot Two (2) of John Rush's 1st Addition as recorded in Book 2, Page 53 of the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 67.00 feet along said East .right-of-way line to the -Point of Beginning;- thence North _ 89°41'40" East, 55.00 feet; thence South 00°00'00" West., 33.00 ...feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00.'00" East, 33.00 feet along said East right-of-way line to the Point of Beginning. i (e) Vacant Lot East of 310 East South Street Title Commitment No. 73866 LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as part of Lot Numbered Twenty-three (23) of Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana and described as follows: Beginning at an iron at the intersection of the East right-of-way line of Carroll Street and the South right-of-way line of South Street; thence South 89°39'47" East (bearing assumed), 141.50 feet along said South right-of-way line to the Point of Beginning; thence continuing South 89°39'47" East, 50.00 feet along said South right-of-way line; thence South 00°00'00".East, 115.50 feet to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 50.00 feet along said North right-of-way line; thence North 00°00'00" West, 115.50 feet to the South right-of-way line of South Street and the Point of Beginning. (f) 516 South Rush Street Title Commitment No. 73879 LEGAL DESCRIPTION Part of Lots Numbered Eleven (11) and Twelve (12) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, described as follows: Beginning at a point 106 feet North of the Southwest corner of said Lot 11; thence running North on the West line of said Lot 11 a distance of 30-1/2 feet, thence East to the East line of said Lot 12; thence South on the East line of said Lot 12, 30-1/2 feet; thence West 110 feet to the place of beginning. a (g) 630 Lincolnway East Title Commitment No. 73894 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Twenty-one (21) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, as described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet; thence North 89°41'40" East, 73.79 feet- to the Point of Beginning; thence continuing North 89°41'40" East, 80.09 feet to the Southwesterly right-of-way line of Lincolnway; thence South 37°21'40" East, 40.66 feet along said southwesterly right-of-way line; thence South 89°41'40" West, 92.75 feet; thence South 00°01'54" East, 39.03 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 12.00 feet along said North right-of-way line' thence North 00°01'54" West, 71.47 feet to the Point of Beginning. i• (h) 618 South Columbia Street Title Commitment No. 73870 LEGAL DESCRIPTION I~ Lot Numbered Nine (9) as shown on the recorded Plat of Birdsell Manufacturing Company's Subdivision of Denniston and Fellows Addition. to the Town, now the City of of South Bend. i• J 11. The acquisition by purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes, the payment of expenses that the Redevelopment Commission is required or permitted to pay under IC 8-13-18.5 and the clearance of said parcels of real estate, the locations and legal descriptions of said parcels being as follows: i. (a) 530 South Fellows Street Title Commitment No. 73871 LEGAL DESCRIPTION .. A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being a part of Lot Numbered Five (5) of John Rush's lst Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana., and described as follows: Commencing at an iron on the Northwest corner of Lot Numbered Five (5), also being the South right-of-way line of a 12.50 foot alley and the East right-of-way line of Fellows Street; thence South 00°00'00" West, 30.86 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 45.64 feet (45.50 feet by deed); thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North :00°00'0.0" East 45.64 feet along said East right-of-way line to the Point of Beginning. (b) 528 South Fellows Street Title Commitment No. 73872 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being a part of Lot 5 of John Rush's lst Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South. Bend, Indiana, and described as follows: Beginning at an iron on the Northwest corner of Lot 5, .also being the intersection of the East right-of-way line of ;Fellows Street and the south right-of-way line of a 12..50 foot alley; thence North 89°41'40" East (bearing assumed), 5.5.00 feet along said .South: right-of-way. line; thence South 00°00'00" East, 30.86 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 30.86 feet along said East right-of-way line to the Point of Beginning. (c) 505 South Rush Street Title Commitment No. 73880 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being apart of Lot Numbered Seventeen (17) of John Rush's First Addition as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office, in South Bend, Indiana, and .described as follows: Commencing at the Northwest corner of Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley and -the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said South • right-of-way line; thence South 00°01'28" East, 69.:30 feet to the Point of Beginning; thence. North 89°38'43" East, 54.95 feet to the West right-of-way line of Rush Street; thence South 00°01'54" East, 34.00 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 34.00 feet to the Point of Beginning. I ~ (d) 524 East Monroe Street Title Commitment No. 73880 LEGAL DESCRIPT__ION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being apart of Lot Numbered Seventeen (17) of John Rush's First Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of-Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley, and the South .right-of-way line of Monroe .Street; thence North 89°38'43" East (bearing assumed), 110.00 feet ahong said South right-of-way line to the Point of Beginning; thence continuing .North 89°38'43" East, 54.94 feet to the West right~of way line of ..Rush Street; thence South 00°01'54" East, 69.30 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 69.30 feet to the South right-of-way line of Monroe Street and the Point of Beginning. (e) 520 East Monroe Street Title Commitment No. 73880 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being Lot Numbered Sixteen (16) of John Rush's First Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, .also being the East right-of-way line of a 14.00 foot alley, and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°01'28" East, 166.26 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°01'28" West, 166.20 feet to the South right-of-way line of Monroe Street and the Point of Beginning. i. (f) 514 East Monroe Street Title Commitment No. 73880 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being Lot Numbered Fifteen (15) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, ,and described as follows: Commencing at the Northwest corner of Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley and the .South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along -said South right-of-way line; .thence South 00°01'28" East, 166.20 feet to the :North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right=of-way line to the East right-of-way line of a 14.00 foot alley.; thence North 00°01'28" West, 166.15 feet along said East right-of-way line to the South right-of-way line of Monroe Street, also being the Point of Beginning. (g) 512 East Monroe Street i~ Title Commitment No. 73878 Title Commitment No. 73873 Title Commitment No. 73874 LEGAL DESCRIPTION A parcel of land in the West Half Section 12, Township 37 North, Range Portage .Township, St. Joseph County, Rush's 1st Addition as recorded in Joseph. County Recorder's office in described as follows: of the 2 East, Indiana, Book 2, South Southeast Quarter of City of South Bend, being Lot 3 of John Page 53, at the St. Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North is -89°38'43" -East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°00'00" East, 166.09 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" West, 166.05 feet to the South right-of-way line of Monroe Street and the Point of Beginning. ALSO A parcel of land in the West Half Section- 12, Township 37 North, Range Portage Township, St. Joseph County, Rush's 1st .Addition, as recorded in Joseph County Recorder's Office in described as follows: of the 2 East, Lndiana, Book 2, South Southeast Quarter of City of South Bend, being Lot 4 of John Page 53, at the St. Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe .Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said • (g) 512 E. Monroe Street Title Commitment No. 73878 Continued Title Commitment No. 73873 Title Commitment No. 73874 right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 54.93 feet along said South right-of-way line to the West right-of-way line of a 14.00 foot alley; thence South 00°01'28" East, 166.14 feet along said West right-of-way line to the North right-of-way line of a-12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" East, 166.09 feet to the South right-of-way line of Monroe Street and the Point of Beginning. ALSO A, parcel of land in the West Half of the Southeast Quarter of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the South 33.00 feet of Lot Numbered Two (2) of John Rush's 1st_.Addition, as recorded in Book 2, Page 53, in the Office of the Recorder of St. Joseph County,. Indiana, and described as follows: Commencing at the Northwest corner of Lot 2,~also being the intersection of .the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 133.00 feet along the said East right-of-way line to the point of beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" East,. 33.00 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line to the East right-of-way line of Fellows Street; thence North 00°00'00" -East, 33.00 feet along said East right-of-way line to the point of beginning. at the St. Joseph County Recorder's Office in South Bend, Indiana, and described as follows: ALSO A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being part of Lot 2 of John Rush's 1st Addition as recorded in Book 2, Page 53 (g) 512 East Monroe Street Title Commitment No. 73878 i. Title Commitment No. 73873 Title Commitment No. 73874 LEGAL DESCRIPTION i~ A parcel of land in the West Half Section 12, Township 37 North, Range Portage Township, St. Joseph County, Rush's 1st Addition as recorded in Joseph County Recorder's office in described as follows: of the 2 East, Indiana, Book 2, South Southeast Quarter of City of South Bend, being-Lot 3 of John Page 53, at the St. Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed)., 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" .East, 55.00 feet along said South right-of-way dine; .thence South 00°00'00" East, 166.09 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" West, 166.05 feet to the South right-of-way line of Monroe Street and the Point of Beginning. ALSO A parcel of land in the West Half Section 12, Township 37 North, Range Portage Township, St. Joseph County, Rush's 1st Addition, as recorded in Joseph .County Recorder's Office in described as follows: of the 2 East, Indiana, Book 2, South Southeast Quarter of City of South Bend, being Lot 4 of John Page 53, at the St. Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said (g) 512 E. Monroe Street Continued Title Commitment No. 73878 Title Commitment No. 73873 Title Commitment No. 73874 Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 100.00 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 33.00 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 33.00 feet along said East right-of-way line to the Point of Beginning. (h) 502 East Monroe Street .Title Commitment No. 73877 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Numbered Two (2) of John Rush's First Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at the Northwest corner of Lot Numbered Two (2), also being the :East right-of-way line of Fellows Street and the-South ..right-of-way line of Monroe Street; thence North 89°38'43" East - (bearing assumed), 55.OO.feet,along said South right-of-way line; thence .South 00°00'00" West, 38.04 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 38.00 feet along said East right-of-way line to the Point of Beginning. (i) 413-415 East South Street Title Commitment No. 73862 LEGAL DESCRIPTION A parcel of land in the East Half (1/2) of the Southwest Quarter (1/4) of section Twelve {12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being the West 35.00 feet of Lot Numbered Four (4) of Jodon's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot Numbered One (1) in Jodon's Subdivision,. also being the South right-of-way line of an 11.00. foot alley Nand the West right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), .165.00 feet :along said West right-of-way line; thence South 89°42'43" West, 97.1b feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet to the North right-of-way line of South Street; thence South 89°42'43" West, 34.84 feet along said North right-of-way line to the East right-of-way line of an 11.00 foot alley; thence North 00°00'03" East, 55.09 feet along said East right-of-way line; thence North 89°42'40" East, 34..84 feet to the Point of Beginning. (12) The acquisition by purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes and the rehabilitation of the parcels of - real. estate and improvements; the locations and legal descriptions of said parcels being as follows: i• (a) 618 Lincolnway East Title Commitment No. 73886 r LEGAL DESCRIPTION • A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Ninteen (19) and Twenty (20) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Southwest corner of Lot 18, also being-the East right-of-way line of Rush Street, and the North .right-of-way line of a 12.50 foot alley; thence North 89°41'40" East 100.00 feet along said North right-of-way line to the Point of Beginning; thence North 00°01'54" West, 40.00 feet; thence. North 89°4:1'40" East, 110.11 feet to the West right-of-way line.: of Lincolnway; thence South 37°21'40" East, 50.12 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 140.50 feet along said North ,right-of-way line to the Point of Beginning. (b) 626 Lincolnway East Title Commitment No. 73891 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, .Portage Township, St. Joseph County, Indiana, being part of Lots 14 and 21 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence .South 00°01'54" East, 54.53 feet to the Point of Beginning; thence North 89°4.1'40" East, 86.28 feet; .thence North 71°41'40" East, 31.4.3 feet. to the Southwesterly right-of-way line of Lincolnway; hence South 37°21'40" East, 62.30 feet along said Southwesterly right-of-way line; thence South X89°41'40" West, 153.89 feet to the West line of Lot 14 of said John Rush's First Addition; thence North 00°01'54" West, 40.00 feet to the Point of Beginning. 701 East South Street Title Commitment No. 73893 LEGAL DESCRIPTION A parcel of land in the West Half. (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, .City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Fourteen (14) and Twenty-one (21) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's. office in South Bend, Indiana, and described as follows: .Commencing at the Northwest corner of Lot 11, also being the. ..East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot -alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line;-thence South 00°01'54" East, 94.53 feet; thence North 89°41'40" East, 35.00 feet to the Point of Beginning; thence continuing North 89°41'40" East, 38.79 feet; thence South 00°01'54" East, 71.74 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 38.79 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning. °~~ (d) 613 East South Street Title Commitment No. 73892 LEGAL DESCRIPTION i• A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Numbered Fourteen (14) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50. foot alley; thence North 89°41'40" East (bearing assumed), 165.00 :feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet to the Point of Beginning; thence North 89°41'40" .East, 35.00 feet; thence South 00°01'54" East, 71.47 feet to the North right-of-way line of South Street; .thence South 89°41'40" West, 35.00 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning. (e) 611 East South Street Title Commitment No. 73889 LEGAL DESCRIPTION Lot Numbered Thirteen (13) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, in St. Joseph County, Indiana. R (f) 512 South Rush Street Title Commitment No. 73885 LEGAL DESCRIPTION A part of Lots Numbered Eighteen (18) and Nineteen (19) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, bounded by a line running as follows., viz: Beginning at the Southwest corner of Lot Numbered Eighteen (18); thence running East One Hundred (100) feet; thence North Forty (40) feet; thence West One Hundred (100) feet to the West line of said Lot Numbered Eighteen (18); thence South Forty (40) feet to the place of beginning. G] (g) 514 South Rush Street Title Commitment No. 73887 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph .County, Indiana, being part of Lots Numbered Eleven (11) and Twelve (12) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°40'41" East (bearing assumed), 110.00 feet along said South right-of-way line; thence South 00°01'54" East, 29.50 feet; thence South 89°40'41" West, 110.00 feet to the East right-of-way line of Rush Street; thence North 00°01'54" West, 29.50 feet .along said East right-of-way line to the Point of Beginning. (h) 620 South Columbia Street Title Commitment No. 73869 LJ LEGAL DESCRIPTION Lot Numbered Eight (8) as shown on the recorded Plat of Birdsell's Manufacturing Company's Subdivision of Out Lots Twenty-four (24) and Twenty-five (25) of Denniston and Fellows Addition to the City of South Bend, EXCEPTING THEREFROM a strip Seven (7) feet in width off of the entire South end of said lot. ~J i (i) 602 South Caroll Street Title Commitment No. 73864 LEGAL DESCRIPTION • A parcel of land in the Southwest Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty Three (23) in Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the East right-of-way line of Carroll Street and the South right-of-way line of South .Street.; thence South 89°39'47" East (bearing assumed), 100.00 feet along said South right-of-way line of South Street; thence South 00°00'00" East, 53.50 feet; thence North 89°39'47" West, 100.00 feet to the East ,right-of-way line of Carroll Street; thence 00°00'07" West, 53.50 feet along said East right-of-way line of Carroll Street to the Point of Beginning. • (j) 609 South Columbia Street Title Commitment No. 73868 LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty-three (23) of Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron at the intersection of the South right-of-way line of South Street and the West right-of-way line • of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 .feet along said West right-of-way line to the Point of Beginning; thence continuing South 00°00'00" West, 57.75 feet along .said West right-of-way line to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 45.25 feet along said North right-of-way line; thence North 00°00'00" East, 57.75 feet; thence South 89°39'47" East, 45.25 feet to the West right-of-way line of Columbia Street and the Point of Beginning. • (k) 320 East South Street Title Commitment No. 73867 LEGAL DESCRIPTION A parcel of -land in the Southwest Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty-three (23) as shown on the recorded Plat of Denniston & Fellows Addition as recorded in Book 2, Page 48, at .the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the South right-of-way line of South Street and the West right-of-way line of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 feet along said West right-of-way line; thence North 89°39'47" West, 45.25 feet; thence North 00°00'00" East, • 57.75 feet to the South right-of-way line of South Street; thence South 89°39'47" East, 45.25 feet along said South Street right-of-way line to-the Point of Beginning. • (1) 310 E. South Street Title Commitment No. 73865 LEGAL DESCRIPTION A lot or parcel of land in the West Half (1/2) of Lot Numbered Twenty-three (23) as shown on the recorded Plat of Denniston and Fellows Addition to the Town, now City of South Bend, which parcel is bounded by a line running as follows, viz: Beginning on the South line of East South Street in said City at a point 100 feet East of the Northwest corner of said Lot Numbered 23; thence running East 412 feet to the Northwest corner of a Lot now or formerly owned by John and Susan E. Hartmen; thence South 1152 feet to an alley 14 feet in width; thence. West 412 feet to a point due South of the beginning point; thence North 1152 feet to the place of beginning. • (m) 620-622 Lincolnway East Title Commitment No. 73890 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast .Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Fourteen (14) and Twenty-one (21) of John Rush's 1st Addition, as recorded in Plat Book 2, Page 53, at the St. Joseph County Recorder's office in South-Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way of a 12.50 foot alley; thence North 89°41'40" • East .:(bearing assumed), 165.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°41'40" East, 82.06 feet along said South right-of-way line to the Southwest right-of-way line of Lincoln Way; thence South 37°21'40" East, 56.16 feet along said Southwest right-of-way line; thence South 71°41'40" West, 31.43 feet; thence South 89°41'40" West, 86.28 feet; thence North 00°01'54" West, 54.53 feet to the South right-of-way line of a 12.50 foot alley and the Point of Beginning. ~? EXHIBIT "B" SECOND AMENDED AND RESTATED LEASE Between r SOUTii BEND REDEVELOPMENT AUTHORITY and • SOUTH BEND REDEVELOPMENT COMMISSION DATED AS OF NOVEMBER 1, 1989 (SOUTH BEND CENTRAL DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT) • INDEX i Section 1. Definitions Section 2. Lease of Project Section 3. Rental Payments Section 4. Rental Payment Dates Section 5. Abatement of Rent Section 6. Net Lease Section 7. Nonliability of Authority Section 8. Alterations Section 9. Insurance Section • 10. Use of Insurance and Condemnation Proceeds Section 11. Liability Insurance Section 12. General Insurance Provisions • Section 13. General Covenants Section 14. Option to Purchase Section 15. Defaults Section 16. Notices Section 17. Construction of Covenants Section 18. Successors or Assigns Exhibit A Permitted Encumbrances Exhibit B Project Engineers Exhibit C Project Descriptions Exhibit D Lease Payment Schedule • 1 2 3 3 4 5 5 5 5 6 6 6 7 7 8 8 8 8 LEAS E This Lease entered into as of the 1st day of November, 1989 betw'~een SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and politic organized and existing under Indiana Code 36-7-loverning "Authority) and SOUTii BEND REDEVELOPMENT COMMISSION, the g body of the South Bend Department of Red~he 1o Lessee")an acting Redevelopment District of South Bend, Indiana for and on behalf of the City of South Bend, Indiana. W ITNESSETIi: Section 1. Definitions. The terms defined in this Section 1 shall for all the ontextootherwise requirese the meanings herein specified unless "Act" means Indiana Code 36-7-14.5, as the same from time to time may be amended or supplemented. "Authority" means the South Bend Redevelopment Authority, a body corporate and politic organized and existing underboard Acbodyr if said Authority shall be abolished, the authority, instrumentality or agency succeeding to the principal functions • thereof. , "Bonds" means Sout Central RDevelopmenttAreahPublic Improvement Revenue Bonds (South Bend Project) . "Lease" means this Lease as the same may be amended, modified or supplemented by any amendments or modifications h rovisions supplements hereto entered into in accordance with the p hereof. the "Lessee" means the South Bend Redevelopment Commission, governing body of the South Bend Department of ordif esaid eComm ssion Redevelopment District of South Bend, Indiana, enc succeeding shall be abolished, the commission, board, body or ag y to the principal functions thereof. "Lease Resolution" means the resolution of the Commission passed on February 16, 1990, establishing funds for the payment of lease rentals. "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 Agreement, leases, subleases and other agreements permitted pursuant to Section 13 hereof, (c) utility, • -1- twenty-two (22) years, beginning on the date the Ti ~ e t 1 suchmpdate and ready for use, and ending on the day p • twenty-two (22) years thereafter. However, the term of this Lease shall terminate at the earlier of (a) the exercise of the option the purchase by Lessee and payment of the option price, or (b) 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 date the 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 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 South Bend Central Development Area Public Improvement Project Principal and Interest Account 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 Trust Agreement. All payments so made shall be considered as payments to the Authority of the rentals • payable hereunder. The Lessee shall receive credit for any Bond maturing within seven (7) days of the date of the lease rental payment, at the face value thereof, which the Lessee acquires a ad delivers to the Trustee as a part of its lease rental PaY hargesb) and additional rental the Lessee agrees to pay all fees, reimbursement of expenses of the Trustee under the Trust Agreement and all prudent charges and expenses of the Authority incurred in the performance of its obligations hereunder. Section 4. Rental Pa ment Dates and Amounts. The first. semiannual rental installment in the amount of One Hundred Nineteen Thousand Five Hundred Dollars ($119,500) shall be due on the day that 1993, the Project is completed and ready for use, or January 31, whichever is later. If completion is later than January 31, 1993, the first installment shall be in an amount which provides for rental at the rate specified in Exhibit B for the seroratedlfromltheld telof the Project is completed and ready for use, p completion until the first July 31 or January 31 foa lablegin uadvance of completion. Thereafter such rentals shall be p y in semiannual installments on July 31 and January 31 of each year as provided for in the attached lease payment schedule at Exhibit D. The last seminannual rental payment due before the expiration -3- 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 t3~e opinion of the Trustee, materially impair the Authority's j.nter~st in or Lessee's use of the Project. "Project" .means the real estate (including all right-of-way easements contained therein) in South Bend, Indiana, and improvements to be made thereon by the Authority or its agent according to plans and specifications prepared by the project engineers (a list of which is described in Exhibit B hereto), all as described in Exhibit C hereto. The above mentioned plans and specifications and the Project 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 (which approval shall not be withheld by the Lessee in the event of the inability of the Authority to acquire timely and at a reasonable price all of those real property interests constituting part of the Project which must be obtained by eminent domain), 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. . "Redevelopment District Bond Fund" means the Redevelopment District Bond Fund of Lessee authorized by Indiana Code 36-7-14-27 and the Lease Resolution. "South Bend Central Development Area Public Improvement Project Principal and Interest Account" means the account by that name created in the Redevelopment District Bond Fund. by the Lease Resolution. "Trust Agreement" means the Trust Agreement dated as of. November 1, 1989, between the Authority and the Trustee, securing the Bonds. "Trustee" means First Interstate Bank of Northern Indiana, N.A., 112 West Jefferson Boulevard, South Bend, Indiana, as Trustee pursuant to the Trust Agreement, and any successor trustee. Any term not defined herein, which is defined in the Lease Resolution or in the Trust Agreement, shall have the meaning as defined in such resolution or agreement. 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 Lessre vileeesr~ easements H and AND TO HOLD the same with all rights, p g appurtenances thereunto belonging, unto the Lessee for a term of • -2- of this Lease shall be adjusted to provide for rental at the rate • specified in Exhibit D for the applicable semiannual period prorated from the date such installment is due to the date of the uentlrearln of this Lease (without taking into account any subseq y termination of this Lease pursuant to Section 2 hereof). The Lessee will not take any action or fail to take any action that would result in the loss of the exclusion from gross income for federal tax purposes of interest on the Bonds pursuantthe "Code")n 103 (a) of the Internal Revenue Code of 1986, as amended as in effect on the date of delivery of the 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 Bond is outstanding hereunder which would cause any 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 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 n behalf oftthe Lessee evidencingsthe Lessee's commitments covenants o made herein. Section 5. Abatement of Rent. In the event that all or a portion of the Project shall be damaged or destroyed so as to render the damaged or destroyed portion of the Project unfit for its • intended use, it shall then be the obligation of theortiono ofy the restore and reconstruct the damaged or destroyed p 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 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 shall be abated pro rata for the period during which the damaged or destroyed portion of the Project is unfit for its intended use. Section 6. Net Lease. It is expressly understood an 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 exall Sbe those not the Lessee) hand rthatt during ythe tleasew term ethe sh -4- Lessee shall be obligated to pay as its expenses without reimbursement from the Authority all costs of taxes and assessments, • if any, anal maintenance, operation and use in connection with or relating to the Project, including but not limited to alartssof the expenses of all services, repair or replacement of all p Project or improvements of the Project. The Authority shall Section 7. Nonliability of Authority. not be liable for damage caused by hidden defects or failure to keep the Project in repair and shall not be liable for any damages dorethe occasioned by or from plumbing, gas, water, or other pip bursting or .leaking of plumbing or heating fixtures i snown or ice with said premises, nor for damage occasioned by water, 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 noot be liable for damage to the Lessee's property or to the property 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 tha consent of the Authority, to make all alterations, modessar loor desirable lto the Project, whichldo mnot reduce the rental ne y 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 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, • -5- (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 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 Sacable•to the policies shall be for the benefit of and shall be made p y Trustee. Section 10.-Use of Insurance and Condemnation Proceeds. Proceeds of insurance against damage to or destruction of t id too~and or proceeds of any condemnation of the Project shall be p 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, effect i at all public times during the full term of , n this Lease, keep insuring the Less insurance ee, the liability and Authority and , property damage the Trustee in amounts customarily carried for the siublic • properties. .Such insurance may be provided under of South Bend. Cit th p liability self insurance program y e of 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 Seca any shall be deposited with the Authority and the Trustee. If, 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 paable ob sthe insurance shall be added to the amount of rental pay Y Lessee under this Lease; provided, however, that neither the Authority nor the Trustee shall be under any obligation to 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. • -6- Section 13. General Covenants. The Lessee shall not assign • this Lease or sublet any part of the Project herovidedschoweverltthat the prior written consent of the Authority; P the Lessee shall in no event assign this Lease or sublet any part of the Project if such assignment or sublease will resuloses ofeinterest the exclusion from gross income for federal tax purp on any obligation issued by the Authority to finance the Project. The Lessee covenants that, except for Peencumbranceuto exist~thereonl not encumber the Project, or permit any and that it shall use and maintain the Project in accord the Statetof laws and ordinances of the United overnmental meauthorities. The Indiana, and all other proper g execute Authority agrees that it will, at the request of the Lessee, 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 aseshrovisions eoff thisl Section rl3uort otherw se bylthe permitted by th p definition of "Permitted Encumbrances". Authorit hereby grants Section 14. Option to Purchase. Y Lessee the right and option, on any rental P rchase ahe Project at a days' written notice to the Authority, to P Y rovide price equal to the amount required to enable the Authorit to p 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 the Bonds and liquidating the Authority if it • is to be liquidated. Upon request of the Lessee, the Authority agrees to furnaid by itemized statement setting forth . tment d to in order t o purchase the the Lessee on the next rental PaY ara ra h. Project in accordance with the preceding p g P 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 all the acc au ed lnanddlu~paid premiums payable on the redemption thereof, a ment interest thereon and the costs of redemption thereof. Such p y shall not be made until the Trustee gives to the Lessee a written statement. that such amount will be sufficient to retire all 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. Nothing herein contained shall be construed to provide that the Lessee shall be under any obligation to purchase the Project, or under any obligation in respect to any creditors or bondholders of the Authority. -7- If the Lessee has not exercised its option to purchase the Project at the expiration of the term of the Lease and upon the full • discharge and performance by the Lessee of its obligations under this Lease, the Authority shall execute a deed of the Project to the Lessee conveying all of its interest thereto, subject only to Permitted Encumbrances. Section 15. Defaults. If the Lessee as able (to theca Authority payment of any rentals or other sums p y 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 wh th r for equity, by suit, action, mandamus or other proceedings, specific performance of any covenant o P 9o riate legal l o d equitable for the enforcement of any other a p p remedy. Section 16. Notices. When ever 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 addressedofoanhe notice party at its last known place of business. A copy Y shall be mailed by first-class mail to the Trustee at its last known • place of business. All provisions Section 17. Construction of Covenants. rovisions contained herein shall be construed in accordance with th between the of the Act and to the extent of inconsistencies•rovision~s of the Act, covenants and agreements in this Lease and the p the provisions of said Act shall be deemed to be controlling and binding upon the parties. Section 18. Successors or Ass~h Lesseell shallebenbinding pon Lease, whether by the Authority or the successors and assigns of the respective parties hereto. • -8- IN WITNESorWa d Eon ~theirpbehalf asr f they d yuand year first • to be executed f hereinabove written. SOUTii BEND REDE ELOPM~NT AUTHORITY ~~ By: ose .Wroblewski, President ATTEST: George MCCUllVUyi1, T= \ ~ Roman Piasecki, Secretary 3-29-90 reasurer SOUTii BEND REDEVELOPMENT COMMISSION B y. F. Jay him z, Presi ent _9- • STATE OF INDIANA ) SS:' COUNTY OF ST. JOSEPH ) Before me, .the undersigned, a Notary Public in and for said State, personally appeared Joseph Wroblewski and George McCullough, personally known by me to be the President and Secretary-Treasurer, respectiveled the executl.onu of then foregoing 1Lease tfor andorony beh if acknowledg of said Authority. WITNESS my hand and Notarial Seal this 6th day of Anri1 1990. (Written Signature (Printed Signature) (Written Signature) (Printed Signature (S F. A. L) My commission expires: January 7, 1991 I am a resident of ~r Tosenh County, Indiana. T • -10- • STATE OF INDIANA ) SS: . COUNTY OF ST. JOSEPii ) i Before me, the undersigned, a Notary Public in and for said State personally appeared F. Ja Nimtz and Roman Piasecki, personally known by me to be ytlze 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 ~,rh- day of ~p,-;i 1990. ~Ft-C .^c. ~ . ~ ~` .7 ~ '(Writte Signature) Cheryl K. Phipps (Printed Signature) r~ L (Written Signature) (Printed Signature) (SEAL) My commission expires: January 7, 1991 I am a resident of St. Joseph County, Indiana. This instrument was prepared by Richard L. Hill, Parker & Jaicomo, 205 - W est Jefferson Boulevard, South Bend, Indiana 46601. -11- • EXHIBIT "A" PERMITTED ENCUMBRANCES "All encumbrances identified in the Title Commitment originally issued by Lawyers Title Insurance Corporation on March 6, 1990, Commitment- No. 58972, in favor of the South Bend Redevelopment Commission, as amended and in effect from, time to time during the term of the Lease." • E XIiIBIT B LIST OF PROJECT ENGINEERS Niles Avenue ICen Herceg & Associates, Inc. South Bend, Indiana Madison Street Ken fierceg & Associates, Inc. South Bend, Indiana W ashington Street ICen. Iierceg & Associates, Inc. South Bend, Indiana W est Bank Lighting Lawson-Fisher Associates South Bend, Indiana CBD Curbs and Sidewalks City Engineering Department Rink Riverside walkway • Lawson-Fisher Associates South Bead, Indiana Howard Park Wall Cole associates Inc. South Bend, Indiana Viewing Park Cole Associates Inc. South Bend, Indiana Morris Civic Park SiteScapes South Bend, Indiana EXHIBIT "C" • PROJECT DESCRIPTIONS The Project consists of the following: (1) The construction of Niles Avenue Parking and Landscaping Improvements (Phase IV) in the City of South Bend consisting of the reconstruction and partial widening of a portion of Niles Avenue for a total distance of approximately 1,300 linear feet and the construction of new curbs, walks and traffic islands along with on-street and off-street public parking areas, trees, lighting, drainage, striping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: • Starting at a point on the West right-of-way line of Niles Avenue, one hundred thirty-two (132) feet South of the South right-of-way line-extended of Washington Street continuing North along said West right-of-way line to a point one hundred sixty-five (165) feet North of the North right-of-way line of LaSalle Avenue, thence East a distance of sixty six (66) feet to a .point along the East right-of-way line of Niles Avenue one hundred sixty-five (165) feet North of the North right-of-way line of LaSalle Avenue, thence South along said East right-of-way line to a point one hundred thirty two (132) feet South of the South right-of-way line of Washington Street, thence West a distance of sixty-six (66) feet back to the starting point. and The following as described as being in the West half of the Northeast Quarter, Section Twelve (12), Township Thirty-Seven (37) North, Range Two (2) East, in Cottrell's Addition, City of South Bend, St. Joseph County, Indiana: Commencing at the northeast corner of Part Lot 5; thence due south for 131.79 feet; thence west for 60 feet; thence due north to • the south right-of-way line of Washington Street vacated for 132.27 feet; thence east for 70 feet back to the point of beginning. ~- (2) The construction of Madison Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Madison Street for a total distance of approximately 335 linear feet and the construction of new curbs, gutters, parking areas, walks, and the addition of trees, lighting, drainage, striping and appurtenant work, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at a point along the North right-of-way line of Madison Street, four hundred sixty-seven (467) feet West of the point of intersection of said North right-of-way line and the West right-of-way line of Niles Avenue, thence East along said North right-of-way line to said point of intersection; thence South along said West right-of-way line a distance of eighty two and one-half (82.5) feet to the point of intersection with the .South right-of-way line of Madison Street; thence West along said South right-of-way line a distance of four hundred sixty-two (462) feet to a point; thence Northwesterly along a line a distance of sixty two (62) feet, more or less back to the starting point. • • (3) The construction of Washington Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Washington Street for a total distance of approximately 320 linear feet including rehabilitating and relaying the existing brick roadway and the construction of new concrete curbs, gutters, parking areas, walks, traffic islands and addition of trees, lighting, drainage, striping and appurtenant work, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at the point along the North right-of-way of Washington Street. extended, 14 feet West of the intersection of the East right-of-way line of Niles Avenue and the North right-of-way line of Washington Street, .thence East along said North right-of-way line a distance of 373 feet to a point 14 feet East of the point of intersection with the West right-of-way line of Hill Street, thence South parallel to said West right-of-way line a distance of eighty two and one-half (82.5) feet to the point of intersection with the South right-of-way line of Washington Street extended, thence West along said South right-of-way line to a point 14 feet West of the point of intersection with said East right-of-way line of Niles Avenue; thence North parallel to said East right-of-way line back to the starting point. n U (4) The construction and installation of the Riverbank Lighting • Project consisting of the installation and improvement of approximately 36 light fixtures, poles and bases situated along a public pathway of approximately 4,560 feet on the western river bank of the St. Joseph River extending from the LaSalle Avenue Bridge to approximately Monroe Street, including the installation of conduits, wires, conductors, electric panels and kiosks necessary for the completion of the project including trenching, necessary removal of asphalt pavement, concrete, rubble, trees, brush and other obstructions, tree trimming, fill work as required and construction of a concrete path at Pier Park, required brick removal, such construction, installation and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Commencing at the southwest corner of Lot 1 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north, range 2 east; thence west along the north side of Jefferson Boulevard for 290.00 feet to the point of beginning; thence northwest for 111.26 feet, thence northwest for 129.18 feet, thence northwest for 146.45 feet, thence northwest for 124.87 feet, thence southeast running along the west side of the St. Joseph River for approximately 380.00 feet, also being the north side of Jefferson Boulevard, thence east for 145.00 feet back to the point of beginning; and Commencing at the southeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the northwest corner of Tract 3 in the River Bend Addition and situated in the east half (1/2) of the northwest quarter (1/4) of section Twelve (12), Township 37 north, range 2 east; thence southeast for 140.00 feet, thence southeast for 250.79 feet, thence due south along the radius for 117.8 feet, thence southeast for 122.42 feet, thence southeast for 134.06 feet, thence northeast for 74.66 • feet, thence northwest for 113.4 feet, thence west for 29.7 feet, thence .northwest for 17.27 feet, thence northeast for 27.47 feet, thence north for 45.54 feet, thence northwest for 64.38 feet, thence northwest for 38.49 feet, thence southwest for 24.41 feet, thence northwest for 178.5 feet, thence northeast for 10.75 feet., thence northwest for 34.2 feet, thence southwest for 10.75 feet, thence northwest for 57.6 feet, thence north for 83.94 feet, thence west for 95 feet back to the point of beginning; and Commencing at the northeast corner of Madison Street and Lincolnway east, also being the southeast corner of Tract 8 (Key #34-83) in the River Bend Addition and situated in the west half (1/2) of the southeast quarter (1/4) of Section Twelve (12), Township 37 north.., Range 2 east; thence 399.68 feet along the East line of said tract to the point of beginning; thence S. 52°07'42" west, 190.00 feet, thence north 46°02'06" west, 180.00 feet, thence north 65°47'18" west, 460 feet, thence north 38°42'21" west, 236.98 feet, thence north 70°06'30" west, 50.00 feet, thence north 04°3.9'38" west, 40.00 feet, thence north 65°42'29" east:, 10.00 feet, thence north 25°39'11" west, 425.12 feet, thence north 25°46'29" west, 232.03 feet, thence north 53°10'13" west, 108.76 feet, thence north 25° 55'3.2" west, 90..64 feet, thence north 19°47'16" west, 156.6.6 feet, thence north 87°40'09" east, 94.06 feet, • thence south 28°59'50" east, 145.12 feet, thence south 23°06'10" east, 140.73 feet, thence south 26°26'27" east, 149.84 feet thence south 20°04'37" east, 152.26 feet, thence south 22°53'19" east, 167.55 feet, thence south 34°56'19" east, 224.42 feet, thence south 31°26'14" east, 157.37 feet, thence south 45°43'42" east, 161.61 feet, thence south 64°47'26" east, 159.34 feet, thence south 68°04'55" east, 228.93 feet, thence south 76°10'38" east, 234.62 feet back to the point of beginning; and Commencing at the northeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the southeast corner of Lot 91 in the River Bend Addition and situated in the west half (1/2) of the northwest quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence northwest 228.43 feet along the east right-of-way line of St. Joseph Street, thence north 87.18 feet along the east right-of-way line of St. Joseph Street, thence southeast for 108.76 feet, thence southeast for 430.00 feet along the St. Joseph River back to the point of beginning. • (5) The construction of Morris Civic Plaza Improvements • consisting of the reconstruction of existing improvements and the construction of new improvements including the partial demolition of the existing plaza, relocation of existing sculpture, the construction and installation of seating areas, irrigation system, lighting, walkways, sculpture bases, planters, the rehabilitation of existing fountain and brick work areas, landscaping, drainage and appurtenant work, such construction and installation and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: • Commencing at the Northeast corner of the Michigan Street and Colfax Avenue right-of-ways; thence due North a distance of 264 feet, thence Southwest along the North-South curb on the East side of Michigan Street to the North right-of-way line of Colfax Avenue, a distance of 284 feet; thence due East a distance of 45 feet back to the point of beginning. and A part of the northwest quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana,- described more particularly as follows: Beginning at the intersection of the East boundary of North Michigan Street and the North boundary of East Colfax Street; thence North 89 degrees 39 minutes 37 seconds East a distance of 244.07 feet; thence North 20 degrees 24 minutes 52 seconds West a distance of 53.52 feet; thence Northwesterly a distance of 153.59 feet along an arc to the left and having a radius of 243.98 feet and subtended by a long chord having a bearing of North 38 degrees 26 minutes 55 seconds West and a length of 151.07 feet; thence North 56 degrees 28 minutes 59 seconds West a distance of 96.35 feet; • thence Northwesterly a distance of 56.94 feet along an arc to the left and having a radius of 148.28 feet and subtended by a long chord having a bearing of North 69 • degrees 59 minutes 03 seconds West and a length of 56.59 feet; thence South 00 degrees 28 minutes 59 seconds East a distance of 242.50 feet to the place of beginning. Said tract contains 39,958 square feet (0.917 Acres), more or less. ~J • • (6) The construction of the Howard Park Wall Project consisting of the removal and replacement of the existing wall bordering Howard Park and the St. Joseph River for a distance of approximately 1,000 linear feet including the capping of the foundation of the existing wall, the installation of riprap along the base of the wall and the construction of a new four feet high wall and repair and/or replacement of the walkway along the wall and appurtenant work, such construction and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: Commencing at the northwest corner of Lot 4 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence southeast along the east side of the St. Joseph River for approximately 1200 feet to the southeast corner of Lot 19, thence north for 20 feet, thence northwest parallel to the east side of the St. Joseph River for approximately 1200 feet, the north line of Lot 4, thence west for 20 feet back to the point of beginning. • • (7) The construction of the Rink Riverside Walkway Project consisting of the construction of an eight foot wide concrete and timber walk and its incidental riverbank support system along the top of the eastern bank of the St. Joseph River which will connect the termination point of the existing portion of the Riverbank Trail to the north with the Colfax Avenue sidewalk, a distance of approximately 280 feet to the southeast including the construction of a ground level sidewalk west and north to the southwest corner of the Rink Riverside Building, a distance of approximately 230 linear feet and the construction of a structural wood deck walkway from the southwest corner of the Rink Riverside Building north to the existing wooden deck of the LaSalle-Sycamore Walkway, a distance of . approximately 140 feet supported by a system of pilings and piers on the Riverbank and appurtenant work along with the removal of a 100 foot high brick smokestack and such other required related improvements and landscaping, such construction and related improvements to be made to the following described real estate acquired or to. be acquired by the Authority: That part of the Northwest quarter of Section 12, Township 37 North, Range 2 East and that part of Lots 7, 8 and 9 in the Original Plat of the Town of Lowell, now a part of the City of South Bend as recorded in the records of St. Joseph County, Indiana, which is described as: Beginning at the point of intersection of the north line of Colfax Avenue and the west line of Sycamore Street; thence west (assumed bearing) along a line 10 feet north and parallel to the northerly line of Colfax Avenue, a distance of 100 feet; thence northwesterly along a line of 10 feet, more or less, easterly of the easterly bank of the St. Joseph River, a distance of 89 feet; thence west along a projected line perpendicular with the St. Joseph River, a distance of 5 feet; thence northwesterly along a parallel line of 5 feet easterly of the easterly bank of the St. Joseph River, a distance of 40 feet, more or less; thence east along a line perpendicular with the St. .Joseph River, a distance of 10 feet; thence northwesterly along a parallel line 15 feet more or less easterly of the easterly bank of the St. Joseph River, a distance of 11 feet., more or less; thence west 10 feet along a line perpendicular to the St. Joseph River; thence northwesterly to a point on the north lot line of Lot 7, a distance of 10 feet, more or less, east of the easterly bank of the St. Joseph River; thence west (assumed bearing) along said north lot line a distance of 10 feet, more or less, to the easterly bank of the St. Joseph River; thence southeasterly along said easterly bank to the projected north line of Colfax Avenue; thence east .along said north line and its projection back to the. point of beginning. C~ • (8) The construction of the Viewing Park Project consisting of the continuation of the existing 8 foot walkway along the .eastern Riverbank to connect into the sidewalk along Sample Street for a total linear distance of approximately 27DD feet and the improvement and paving of the driveways and parking areas in Viewing Park, incidential required lighing, landscaping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: • The Southeast Quarter of Section Twelve (12), Township Thirty-seven (37) North, Range two (2) East, City of South Bend, St. Joseph County, Indiana. Beginning at the Southeast corner of Lot 213 of Heck's Addition and the easterly edge of the waters of the St. Joseph River; thence meandering Southeasterly and South along said Easterly water's edge to the point of intersection with the North right-of-way line of Sample Street projected; thence Northeast along said projected North right-of-way line of Sample Street to the West right-of-way line of Northside Boulevard; thence Northwesterly and North along said West right-of-way line of Northside Boulevard to the East lot line of Lot 213 of Heck's Addition; thence South along said East lot line a distance of fifteen (15) feet, more or less, back to the point of beginning. The total area of the project site is approximately 6 acres. • (9) The construction of Central Business District Curbs and Sidewalk Improvements consisting of replacement and reconstruction of designated curbs and sidewalks in the City of South Bend as follows: • • (a) The sidewalk section located in front of the City parking lot on Lafayette Street containing 825 sq. ft. of area and a curb section of 55 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City parking lot: Commencing at the southeast corner of lot 393; thence south for 55 feet, thence east for 15 feet, thence north for 55 feet, thence west for 15 feet back to the point of beginning. • (b) The sidewalk section located at 228 Lafayette Street containing 600 sq. ft. of area and a curb section of 40 linear feet, .such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence west for 15 feet, thence north for 40 feet, thence east for 15 feet, thence south for 40 feet back to the point of beginning. LJ • • (c) The sidewalk section located at 228 Lafayette Street containing 795 sq. ft. of area and a curb section of 53 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence north 65 feet to the point of beginning; thence west for 15 feet; thence north for 53 feet, thence east for 15 feet, thence south for 53 feet, back to the point of beginning. • • (d) The sidewalk section located at the City approach. on Lafayette Street between the valley American Bank property and the Bath Building property containing 210 sq. ft. of area, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City Approach: Commencing at the southwest corner of Lot 244; thence south for 14 feet; thence west for 15 feet, thence north for 14 feet, thence east for 15 feet back to the point of beginning. • (e) The sidewalk section located at 312 West. Colfax Avenue containing 1,235 sq. ft. of area and a curb section of 35 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 312 West Colfax: Commencing at the northwest corner of Lot 385; thence north for 19 feet, thence east for 65 feet, .thence south for 19 feet, thence west for 65 feet back to the point of beginning. ~J • • (f) The sidewalk section located at 135 North Lafayette Street containing 1,900 sq. ft. of area and a curb section of 100 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 135 N. Lafayette: Commencing at the northeast corner of Lot 385; thence south for 19 feet, thence west for 100 feet, thence north for 19 feet, thence east for 100. feet back to the point of beginning. r~ L • • (g) The sidewalk section located at the Colfax Theatre sidewalk containing 532 sq. ft. of area and a curb section of 38 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Colfax Theater: Commencing at the southwest corner of Lot 228; thence south for 14 feet, thence east for 38 feet, thence north for 14 feet, thence west for 38 feet back to the point of beginning. r~ L • • (h) The sidewalk section located at the Christman Building starting on Colfax and continuing north on Main Street containing 4,986 sq. ft. of area and a curb section of 356 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Christman .Building: Commencing at the southeast corner of Lot 228; thence west for 144 feet, thence north for 14 feet, thence east for 129 feet, thence north for 198 feet, thence east for 15 feet, thence south for 212 feet back to the point of beginning. • • 10. The acquisition by purchase or condemnation of vacant parcels of real estate in the City of South Bend needed for redevelopment purposes, the location and legal descriptions of said parcels being as follows: • • • (a) 417 East South Street Title Commitment No. 73863 LEGAL DESCRIPTION A parcel of land in the East Half of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being a part of Lot 4 of Jodan's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot 1, also being the South right-of-way line of an 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed) 165.00 feet along said West right-of-way line; thence South 89°42'43" West, 57.32 feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet, to the North right-of-way line of South Street; thence South 89°42'43" West, 39.84 feet along said North right-of-way line; thence North • 00°00'03" East, 55.09 feet; thence North 89°42'40" East, 39.84 feet to the Point of Beginning. (b) 509 South Rush Street Title Commitment No. 73882 LEGAL DESCRIPTION A lot or parcel off of and from Seventeen (17) First Addition Indiana. of land 63 feet in length, North and South, taken the entire width of the South end of -Lot Numbered as shown on the recorded Plat of John H. Rush's to the City of South Bend, in St. Joseph County, • (c) 520 South Fellows Street Title Commitment No. 73876 LEGAL DESCRIPTION • A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-Seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being part of Lot Numbered Two (2) of John Rush's lst Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot Numbered Two (2), also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South. 00°00'00" West (bearing assumed), 38.00 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 29.00 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 29.00 feet along said East right-of-way line to the Point of Beginning. • • (d) 522 South Fellows Street Title Commitment No. 73875 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the middle 33.00 feet of Lot Two (2) of John Rush's 1st Addition as recorded in Book 2, Page 53 of the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South • 00°00'00" West (bearing assumed), 67.00 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 33.00 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 33.00 feet along said East right-of-way line to the Point of Beginning. • • (e) Vacant Lot East of 310 East South Street Title Commitment No. 73866 LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as part of Lot Numbered Twenty-three (23) of Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana and described as follows: Beginning at an iron at the intersection of the East right-of-way line of Carroll Street and the South right-of-way line of South Street; thence South 89°39'47" East (bearing assumed), 141.50 feet along said South right-of-way line to the Point of Beginning; thence continuing South 89°39'47" East, 50.00 feet along said South right-of-way line; thence South 00°00'00" East, 115.50 feet to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 50.00 feet along said North right-of-way line; thence North 00°00'00" West, 115.50 feet to the South right-of-way line of South Street and the Point of Beginning. (f) 516 South Rush Street Title Commitment No. 73879 LEGAL DESCRIPTION Part of Lots Numbered Eleven (11) and Twelve (12) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, described as follows: Beginning at a point 106 feet North of the Southwest corner of said Lot 11; thence running North on the West line of said Lot 11 a distance of 30-1/2 feet, thence East to the East line of said Lot 12; thence South on the East line of said Lot 12, 30-1/2 feet; thence West 110 feet to the place of beginning. s • (g) 630 Lincolnway East Title Commitment No. 73894 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Twenty-one (21) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, as described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence • South 00°01'54" East, 94.53 feet; thence North 89°41'40" East, 73.79 feet to the Point of Beginning; thence continuing North 89°41'40" East, 80.09 feet to the Southwesterly right-of-way line of Lincolnway; thence South 37°21'40" East, 40.66 feet along said southwesterly right-of-way line; thence South 89°.41'40" West, 92.75 feet; thence South 00°01'54" East, 39.03 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 12.00 feet along said North right-of-way line' thence North 00°01'54" West, 71.47 feet to the Point of Beginning. • (h) 618 South Columbia Street Title Commitment No. 73870 LEGAL DESCRIPTION Lot Numbered Nine (9) as shown on the recorded Plat of Birdsell Manufacturing Company's Subdivision of Denniston and Fellows Addition to the Town, now the City of of South Bend. • (i) The sidewalk section located at the South Bend Parking Lot on Main Street starting at the southeast corner of Lot 225 containing 5,490 sq. ft. of area and a curb section of 378 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Park & Lock Parking Lot: Commencing at the southeast corner of Lot 225; thence north for 198 feet, thence west for 165 feet, thence north for 14 feet, thence east for 180 feet, thence south for 212 feet, thence west for 15 feet back to the point of beginning. • • (j) The sidewalk section located at the City approach commencing at the northeast corner of Lot 226 on Main Street containing 210 sq. ft. of area, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City Approach: Commencing at the northeast corner of Lot 226; thence north for 14 feet, thence east for 15 feet, thence south for 14 feet, .thence west for 15 feet back to the point of beginning. • (k) The sidewalk section located at 113 East Washington Street containing 675 sq. ft. of area and a curb section of 45 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Business Systems-113 E. Washington: Commencing at the southwest corner of- Lot 18; thence west for 5 feet, thence south for 15 feet, thence east for 45 feet, thence north for 15 feet, thence west for 40 feet back to the point of beginning. u (1) The sidewalk section located at 101 North Michigan Street containing 1,170 sq. ft. of area and a curb section of 78 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Fanny Mae's - 101 N. Michigan: Commencing at the southeast corner of Lot 18, thence west for 78 feet, thence south for 15 feet, thence east for 78 feet, thence north for 15 feet back to the point of beginning. • • (m) The sidewalk section located at 125 West Colfax Avenue containing 272 sq. ft. of area and a curb section of 16 linear feet, such construction and related improvements to be .made on the following described real estate acquired or to be acquired by the Authority: Summit Bank - 125 W. Colfax: Commencing at the southwest corner of Lot 7; thence west for 17 feet, thence south for 16 feet, thence east for ointeeof thence north for 16 feet back to the p beginning. r~ L (n) The sidewalk section located at the southeast corner of Lafayette Street and Jefferson Boulevard containing 2,920 sq. ft. of area and a curb section of 198 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Trigon Building - Corner of Lafayette and Jefferson: Commencing at the Northwest corner of Lot 270; thence East for '82.5 feet, thence North for 15 feet, thence West for 99.5 feet, thence South for 99 feet, thence east for 17 feet; thence north for 84 feet back to the point of beginning. C1 11. The acquisition by .purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes, the payment of expenses that the Redevelopment Commission is required or permitted to pay under IC 8-13-18..5 and the clearance of said parcels of real estate, the locations and legal descriptions of said parcels being as follows: L~ • (a) 530 South Fellows Street Title Commitment No. 73871 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being a part of Lot Numbered Five (5) of John Rush's 1st Addition as recorded.. in Book 2, Page 53 at the S't. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot Numbered Five (5), also being the South right-of-way line of a 12.50 foot alley and the East right-of-way line of Fellows Street; thence South 00°00'00" West, 30.86 feet along said East right-of-way • line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 45.64. feet (45.50 feet by deed); thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East 45.64 feet along said East right-of-way line to the Point of Beginning. • (b) 528 South Fellows Street Title Commitment No. 73872 • LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being a part of Lot 5 of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron on the Northwest corner of Lot 5, also being the intersection of the East right-of-way line of Fellows Street • and the south right-of-way line of a 12.50 foot alley; thence North 89°41'40" East .(bearing assumed), 55.00 feet along said South right-of-way line, thence South 00°00'00" East, 30.86 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 30.86 feet along said East right-of-way line to the Point of Beginning. (c) 505 South Rush Street Title Commitment No. 73880 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being apart of Lot Numbered Seventeen (17) of John Rush's First Addition as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office, in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along-said South right-of-way line; thence South 00°01'28".East, 69.30 feet to the Point of Beginning; thence North 89°38'43" East, 54.95 feet to the West right-of-way line of Rush Street, thence South 00°01'54" East, 34.00 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 34.00 feet to the Point of Beginning. • (d) 524 East Monroe Street Title Commitment No. 73880 • LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being apart of Lot Numbered Seventeen (17) of John Rush's First Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley, and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 54.94 feet to the West right-of-way line of Rush Street; thence South 00°01'54" East, 69.30 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 69.30 feet to the South right-of-way line of Monroe Street and the Point of Beginning. • (e) 520 East Monroe Street Title Commitment No. 73880 C~ LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being Lot Numbered Sixteen (16) of John Rush's First Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley, and the South right-of-way, line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°01'28" East, 166.26 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°01'28" West, 166.20 feet to the South right-of-way line of Monroe Street and the Point of Beginning. CJ (f) 514 East Monroe Street Title Commitment No. 73880 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being Lot Numbered Fifteen (15) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot Numbered Fifteen (15), also being the East right-of-way line of a 14.00 foot alley and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line; thence South 00°01'28" East, 166.20 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, -55.00 feet along said North right-of-way line to the East right-of-way line of a 14.00 foot alley; thence North 00°01'28" West, 166.15 feet along said East right-of-way line to the South right-of-way line of Monroe Street, also being the Point of Beginning. (g) 512 East Monroe Street Title Commitment No. 73878 Title Commitment No. 73873 Title Commitment No. 73874 LEGAL DESCRIPTION • A parcel of land in the West Half Section 12, Township 37 North, Range Portage Township, St. Joseph County, Rush's 1st Addition as recorded in Joseph County Recorder's office in described as follows: of the 2 East, Cndiana, Book 2, South Southeast Quarter of City of South Bend, being Lot 3 of John Page 53, at the St. Bend, Indiana, and Commencing at the .Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°00'00" East, 166.09 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" West, 166.05 feet to the South right-of-way line of Monroe Street and the Point of Beginning. ALSO A parcel of land in the West Half Section 12, Township 37 North, Range Portage Township, St. Joseph County, Rush's 1st Addition, as recorded in Joseph County Recorder's Office in described as follows: of the 2 East, Cndiana, Book 2, South Southeast Quarter of City of South Bend, being Lot 4 of John Page 53, at the St. Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said • (g) 51.2 E. Monroe Street Title Commitment No. 73878 Continued Title Commitment No. 73873 Title Commitment No. 73874 right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 54.93 feet along said South right-of-way line to .the West right-of-way line of a 14.00 foot alley; thence South 00°01'28" East., 166.14 feet along said West right-of-way line to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" East, 166.09 feet to the South right-of-way line of Monroe Street and the Point of Beginning. ALSO A parcel of land in the West Half of the Southeast Quarter of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the South 33.00 feet of Lot Numbered Two (2) of John Rush's 1st Addition, as recorded in Book 2, Page 53, in the Office of the Recorder of St. Joseph County, Indiana, • and described as follows: Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 133.00 feet along the said East right-of-way line to the point of beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" East, 33.00 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 33.00 feet along said East right-of-way line to the point of beginning. ALSO A parcel of land. in the West Half Section 12, Township 37 North, Range Portage Township, St. Joseph County, Lot 2 of John Rush's 1st Addition as at the St. Joseph County Recorder Indiana, and described as follows: of the Southeast Quarter of 2 East, City of South Bend, Indiana, also being part of recorded in Book 2, Page 53 's Office in South Bend, • (g) 512 E. Monroe Street Title Commitment No. 73878 Continued Title Commitment No. 73873 Title Commitment No. 73874 • Beginning. Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 100.00 feet .along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 33.00 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 33.00 feet along said East right-of-way line to the Point of (h) 502 East Monroe Street Title Commitment No. 73877 LEGAL DESCRIPTION • A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Numbered Two (2) of John Rush's First Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at the Northwest corner of Lot Numbered Two (2), also being the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line; thence South 00°00'00" West, 38.04 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 38.00 feet along said East right-of-way line to the Point of Beginning. (i) 413-415 East South Street Title Commitment No. 73862 LEGAL DESCRIPTION A parcel of land in the East Half (1/2) of the Southwest Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being the West 35.00 feet of Lot Numbered Four (4) of Jodon's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot Numbered One (1) in Jodon's Subdivision, also being the South right-of-way line of an • 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°-00'00" West (bearing assumed), 165.00 feet along said West right-of-way line; thence South 89°42'43" West, 97.16 feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet to the North right-of-way line of South Street; thence South 89°42'43" West, 34.84 feet along said North right-of-way line to the East right-of-way line of an 11..00 foot alley; thence North 00°00'03" East, 55.09 feet along said East right-of-way line; thence North 89°42'40" East, 34.84 feet to the Point of Beginning. (12) The acquisition by purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes and the rehabilitation of the parcels of real estate and improvements, the locations and legal descriptions of said parcels being as follows: (a) 618 Lincolnway East Title Commitment No. 73886. LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Ninteen (19) and Twenty (20) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing a right-of-way of a 12.50 along said thence Nort East, 110.11 thence Sout line of a feet along Beginning. • t the Southwest corner of Lot 18, also being the East line of Rush Street, and the North right-of-way line foot alley; thence North 89°41'40" East 100.00 feet North right-of-way line to the Point of Beginning; h 00°01'54" West, 40.00 feet; thence North 89°41'40" feet to the West right-of-way line of Lincolnway; h 37°21'40" East, 50.12 feet to the North right-of-way 12.50 foot alley; thence South 89°41'40" West, 140.50 said North right-of-way line to the Point of (b) 626 Lincolnway East Title Commitment No. 73891 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots 14 and 21 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing. assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 54.53 feet to the Point of Beginning; thence North 89°41'40" East, 86.28 feet; thence North 71°41'40" East, 3.1.43 feet to the Southwesterly right-of-way line of Lincolnway; thence South 37°21'40" East, 62.30 feet along said Southwesterly right-of-way line; thence South 89°41'40" West, 153.89 feet to the West line of Lot 14 of said John Rush's First Addition; thence North 00°01'54" West, 40.00 feet to the Point of Beginning. • (c) 701 East South Street Title Commitment No. 73893 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Fourteen (14) and Twenty-one (21) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.5.0 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet; thence North 89°41'40".East, 35.00 feet to the Point of Beginning; thence continuing North 89°41'40" East, 38.79 feet; thence South 00°01'54" East, 71.74 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 38.79 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning. (d) 613 East South Street Title Commitment No. 73892 s LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter. (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot Numbered Fourteen (14) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 .feet to the Point of Beginning; thence North 89°41'40" East, 35.00 feet; thence South 00°01'54" East, 71.47 feet to the North right-of-way line of South Street; thence South 89°41'40" West, .35.00 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning. (e) 611 East South Street Title Commitment No. 73889 LEGAL DESCRIPTION Lot Numbered Thirteen (13) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, in St. Joseph County, Indiana. C~ J (f) 5.12 South Rush Street Title Commitment No. 73885 LEGAL DESCRIPTION A part of Lots Numbered Eighteen (18) and Nineteen (19) as shown on the recorded Plat of John Rush's First Addition to the City of South Bend, bounded by a line running as follows, viz: Beginning at the Southwest corner of Lot Numbered Eighteen (18); thence running East One Hundred (100) feet; thence North Forty (40) feet; thence West One Hundred (100) feet to the West line of said Lot Numbered Eighteen (18); thence South Forty (40) feet to the place of beginning. • (g) 514 South Rush Street Title Commitment No. 73887 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Eleven (11) and Twelve (12) of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°40'41" East (bearing assumed), 110.00 feet along said South right-of-way line; thence South 00°01'54" East, 29.50 feet; thence South 89°40'41" West, 110.00 feet to the East right-of-way line of Rush Street; thence North 00°01'54" West, 29.50 feet along said East right-of-way line to the Point of Beginning. (h) 620 South Columbia Street Title Commitment No. 73869 LEGAL DESCRIPTION Lot Numbered Eight (8) as shown on the recorded Plat of Birdsell's Manufacturing Company's Subdivision of Out Lots Twenty-four (24) and Twenty-five (25) of Denniston and Fellows Addition to the City of South Bend, EXCEPTING THEREFROM a strip Seven (7) feet in width off of the entire South end of said lot. CJ (i) 602 South Caroll Street Title Commitment No. 73864 LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty Three (23) in Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the East right-of-way line of Carroll Street and the South right-of-way line of South Street; thence South 89°39'47" East (bearing assumed), 100.00 feet along said South right-of-way line of South Street; thence South -00°00'00" East, 53.50 feet; thence North 89°39'47" West, 100.00 feet to the East right-of-way line of Carroll Street; thence 00°00'07" West, 53.50 feet along said East right-of-way line of Carroll Street to the Point of Beginning. (j) 609 South Columbia Street Title Commitment No. 73868 LJ LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty-three (23) of Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron at the intersection of the South right-of-way line of South Street and the West .right-of-way line of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 feet along said West right-of-way line to the Point of Beginning; thence continuing South 00°00'00" West, 57.75 feet along said West right-of-way line to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 45.25 feet along said North right-of-way line; thence North 00°00'00" East, 57.75 feet; thence South 89°39'47" East, 45.25 feet to the West right-of-way line of Columbia Street and the Point of Beginning. (k) 320 East South Street Title Commitment No. 73867 LEGAL DESCRIPTION A parcel of land in the Southwest Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as a part of Lot Numbered Twenty-three (23) as shown on the recorded Plat of Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the South right-of-way line of South Street and the West right-of-way line of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 feet along said West right-of-way line; thence North 89°39'47" West, 45.25 feet; thence North 00°00'00" East, 57.75 feet to the South right-of-way line of South Street; thence South 89°39'47" East, 45.25 feet along said South Street right-of-way line to the Point of Beginning. (1) 310 E. South Street Title Commitment No. 73865 LJ LEGAL DESCRIPTION A lot or parcel of land in the West Half (1/2) of Lot Numbered Twenty-three (23) as shown on the recorded Plat of Denniston and Fellows Addition to the Town, now City of South Bend, which parcel is bounded by a line running as follows, viz: Beginoint on the South line of East South Street in said City at a p 100 feet East of the Northwest corner of said Lot Numbered 23; thence running East 412 feet to the Northwest corner of a Lot now or formerly owned by John and Susan E. Hartmen; thence South 1152 feet to an alley 14 feet in width; thence West 412 feet to a point due South of the beginning point; thence North 1152 feet to the place of beginning. (m) 62.0-622 Lincolnway East Title Commitment No. 73890 LEGAL DESCRIPTION A parcel of land in the West Half (1/2) of the Southeast Quarter (1/4) of Section Twelve (12), Township Thirty-seven (37) North, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots Numbered Fourteen (14) and Twenty-one (21) of John Rush's 1st Addition,. as recorded in Plat Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°41'40" East, 82.06 feet along said South right-of-way line to the Southwest right-of-way line of Lincoln Way; thence South 37°21'40" East, 56.16 feet along said Southwest right-of-way line; thence South 71°41'40" West, 31.43 feet; thence South 89°41'40" West, 86.28 feet; thence North 00°01'54" West, 54.53 feet to the South right-of-way line of a 12.50 foot alley and the Point of Beginning. t EXiIIDIT D LEASE PAXMENT SCItEDULE South Bend Redevelopment Authority $4,895,000 TIF Lease Rental IIonds of 1990 Semi-Annual Lease Payments Amounts 1/31/93 119,500 7/31/93 17.9,500 1/31/94 179,500 7/31/D4 179,600 500 179 ]/31/96 7/31/96 , 199,500 1/31/96 199,500 1/31/96 228,000 1/31/97 2z8,aoo 7/31/97 232,000 1/31/98 232,000 7/31/98 245,b00 1/31/99 245,500 000 253 7/31/99 1/31/00 , 253,000 7/31/00 2b4,b00 1/31/01 254,500 7/31/01 252,500 1/31/02 2sz,500 1/31/02 258,000 1/31/03 258,000 7/31/03 262,500 1/31/04 262,500 7/31/04 2.66,000 1/31/Ob 266,000 )/31/05 301,000 1/31/06 301,000 7/31/06 300,500 1/31/07 300,500 1/31/01 303,600 1/31/08 303,500 1/31/08 300,300 ~ 1/31/09 300,500 7/31/09 299,000 000 299 1/31/10 7/31/10 , Y99,000 1/31/11 299,000 7/J1/11 298,000 1/J1/12 298,000 (and each 7-31 and 1-31 thereafter during the term of thie lease) EXHIBIT C TRUST AGREEMENT Between SOUTH BEND REDEVELOPMENT AUTHORITY AND FIRST INTES Su h Be d R Nrid Nana H Tr tee ANA ~ N . A . • Dated as of November 1, 1989 (South Bend Central Development Area Public Improvement Project) INDEX Paae • Parties, Recitals 1 Granting Clauses 2 ARTICLE I. Definitions 2 ARTICLE II. Maturities, Form, Issuance, Delivery and Registration of Bonds 5 ARTICLE .III. Funds 13 ARTICLE IV. Redemption of Bonds 16 ARTICLE V. Covenants of the Authority - 18 ARTICLE VI. Insurance 27 ARTICLE VII. Remedies in Case of Default 31 ARTICLE VIII. Defeasance, Payment, Release 35 ARTICLE IX. Concerning the Trustee 37 ARTICLE X. Supplemental Agreements 4D ARTICLE XI. Miscellaneous Provisions 43 i TRUST AGREEMENT • THIS AGREEMENT (the "Agreement"), executed and dated as of the 1st day of November, 1989, made and entered into between SOUTH BEND REDEVELOPMENT AUTHORITY, a public body corporate and politic, organized and existing under Indiana Code 36-7-14.5, as amended (hereinafter called the "Authority"), and FIRST INTERSTATE BANK OF NORTHERN INDIANA, N.A., a national banking association having its principal office in the City of South Bend, Indiana (hereinafter called the "Trustee"), W I T N E S S E T H: WHEREAS, the Authority was created under and pursuant to the provisions of Indiana Code 36-7-14.5 (hereinafter referred to as the "Act"), for the purpose of financing local public improvements for lease to the South Bend Redevelopment Commission (hereinafter referred to as the "Commission"); and WHEREAS, the Authority has determined to borrow the sum of Four Million Eight Hundred Ninety-Five Thousand Dollars ($4,895,000) for the purpose of procuring funds to pay the cost of the Project (as hereinafter defined) and to execute and issue its Lease Rental Revenue Bonds in the form and terms as hereinafter provided; and WHEREAS, the Authority intends to lease said Project to the • Commission pursuant to a lease dated as of November 1, 1989; and WHEREAS, in order to secure the principal of and premium, if any, and interest on all of said Bonds and the performance of the covenants herein contained, the Authority has in like manner determined to execute and deliver this Agreement; and WHEREAS, all acts, proceedings and things necessary and required by law to make said Bonds, when executed by the Authority and authenticated by the Trustee, the valid, binding and legal obligations of the Authority and to constitute and make this Agreement a valid agreement to secure the payment of the principal of and premium, if any, and interest on the Bonds, have been done, taken and performed, and the issuance, execution and delivery of said Bonds, and the execution, acknowledgment and delivery of this Agreement have, in all respects, been duly authorized by the Authority in the manner provided and required by law; now therefore, SOUTH BEND REDEVELOPMENT AUTHORITY, in consideration of the premises and the acceptance of such Bonds by the holders thereof, and the sum of One Dollar ($1) in hand paid by the Trustee, receipt of which is hereby acknowledged, and especially in order to secure the punctual payment of the principal of, premium, if any, and interest on the Bonds to be issued and at any time outstanding • hereunder as the same shall become due, according to the tenor hereof and thereof, and the faithful performance of all the covenants and agreements contained in said Bonds and in this Agreement., and in performance of the authority of every kind and • nature which said Authority has or may have, has executed and delivered this Agreement and has pledged and assigned and by these presents does hereby pledge and assign unto First Interstate Bank of Northern Indiana, N.A., as Trustee and to its successors in said trust and to its assigns, the Lease (as hereinafter defined) and the Pledged Funds (as hereinafter 'defined) subject to the provisions of this Agreement requiring or permitting the application thereof for the purposes and on the terms set forth in this Agreement. The pledge herein made is and shall be subject to the provisions of this Agreement for the equal and proportionate benefit, security and protection of all holders of the Bonds issued or to be issued under and secured by this Agreement, without preference, priority or distinction as to .lien or otherwise by reason of the date of maturity thereof, or for any other reason whatsoever, subject to the provisions of this Agreement. PROVIDED,- HOWEVER, that if the Authority, its successors or its assigns, shall well and truly pay, or cause to be paid, the principal of-the Bonds and the premium, if any, and the interest due or to become due thereon, at the times and in the manner as set forth in said Bonds in accordance with the terms hereof, and shall well and truly keep, perform and observe all covenants and conditions pursuant to the terms of this Agreement to be kept, • performed and observed by the Authority, and shall pay to the Trustee all sums of money due, or to become due to it, in accordance with the terms and provisions hereof, then this Agreement and the rights hereby granted shall cease, determine and be void, but otherwise, this Agreement shall remain in full force and effect. All Bonds issued and secured hereunder are to be issued, authenticated and delivered, and all property hereby pledged is to be dealt with and disposed of under, upon and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes as hereinafter expressed; and the Authority has agreed and covenanted, and does hereby agree and covenant, with the Trustee and with the respective owners, from time to time, of the said Bonds or any part thereof, as follows: ARTICLE I. Definitions Sec. 1.01. The terms defined in this Article I shall, for all purposes of this Agreement, and any agreement supplemental . -2- hereto, have the meanings herein specified, unless the context • otherwise requires: (a) "Agreement" of "this Agreement" means this instrument, either as originally executed or as it may from time to time be supplemented, modified or amended by any supplemental agreement entered into pursuant to the provisions of this Agreement. (b) "Arbitrage Regulations under Section amended or supplemented or from time to time. (c) "Authority" Authority, a body corporat Regulations" means the Treasury 148 of the Code, as the same may be proposed to be amended or supplemented means the South Bend Redevelopment e and politic, or .any successor entity. (d) "Board" means the Board of Directors of the Authority. (e) "Bond" or "Bonds" (unless the context shall otherwise require) means any Bond or Bonds, or all the Bonds, as the case may be, authenticated and delivered under this Agreement. (f) "Bondholder," "holder," "owner" and "registered owner" means the registered owner of a Bond. • (g) "Code" means the Internal Revenue Code of 1986, as amended. (h) "Commission" means the South Bend Redevelopment Commission, or if said commission shall be abolished, the commission, board, body or agency succeeding to the principal functions thereof. (i) "Construction Fund" means the Construction Fund created and established by Section 3.01. (j) "Government Obligations" means bonds, notes, certificates of indebtedness, treasury bills or other securities constituting direct obligations of, or obligations the timely payment of the principal of and the interest on which are fully and unconditionally guaranteed by, the United States of America or any agency or instrumentally thereof. when such obligations are backed by the full faith and credit of the United States of America. (k) "Lease" means the lease by the Authority to the Commission, dated as of November 1, 1989, as the same may be amended or supplemented. -3- • (1) "Operation and Reserve Fund" means the Operation and Reserve Fund created and established by Section 3.03. • (m) "Pledged Funds" means (i) the proceeds from the sale of Bonds; (ii) the rentals to be received under the Lease; and (iii) all moneys and securities from time to time held by the Trustee under the terms of t2~:is Agreement (except moneys or securities held in accounts to pay for Bonds called for redemption or with .respect to which irrevocable instructions to redeem have been given to the Trustee), including without limitation the moneys held in trust funds. (n) "Project" means the real estate (including all right-of-way easements contained therein) in South Bend, Indiana, and improvements to be made thereon by the Authority or its agent (all as described in Exhibit A), which Project is to be financed with the proceeds of the Bonds and leased to the Commission, pursuant to the Lease. (o) "Qualified Securities" means investments in: (i) Government Obligations; (ii) certificates of deposit issued by banks and mutual savings banks incorporated under the laws of the State of Indiana and in national banking associations having their principal banking offices in the State of .Indiana, including the Trustee, provided such certificates of deposit do not exceed in the aggregate ten percent (10%) of the combined capital, surplus and undivided profits of any such bank or association and that ,each such bank or association has a combined capital and surplus of at least $25,000,000; and provided further that such certificates of deposit are insured by the Federal Deposit Insurance Authority or the Federal Savings and Loan Insurance Authority or, to the extent not so insured, collateralized by interest-bearing obligations described in clause (i) above in which the Trustee has a perfected security interest; or (iii) repurchase agreements, entered into with banks and mutual savings banks incorporated under the laws of the State of Indiana and in national banking associations having their principal banking offices in the State of Indiana, including the Trustee, that are fully collateralized by interest-bearing obligations described in clause (i) above based upon the market value of such obligations on the day such agreement becomes effective, in which the Trustee has a perfected security interest. (p) "Redemption Price," with respect to the Bonds outstanding under this Agreement, means the price at which the Bonds are redeemable as set forth in Article IV of this Agreement. (q) "Sinking Fund" means the Sinking Fund created and established by Section 3.02. • -4- (r) "Trustee" means and includes not only the Trustee but also its successor or successors in trust. (s) Unless the context shall clearly otherwise indicate, words importing the singular number shall include the plural number in each case, and vice versa, and words importing persons shall include firms and corporations, and terms employed in the disjunctive form shall be deemed to be employed also in the conjunctive form and vice versa. ARTICLE II. Maturities, Form, Issuance, Delivery and Registration of Bonds • Sec. 2.01. The principal amount of all Bonds which may be issued and outstanding under this Agreement .shall be Four Million Eight Hundred Ninety-Five Thousand Dollars ($4,895,000) face value. The Bonds shall be originally dated as of the first day of the month in which they are to be originally delivered, shall be issued in the denomination of Five Thousand Dollars ($5,000) each, or any integral multiple thereof and shall be numbered consecutively. The Bonds shall mature serially on February 1 in the years and amounts and bear interest at the rates as follows: Interest Interest Y Amount Rate Year Amount Rate ear 1996 $ 40,000 6.60% 2005 275,000 7.25% 1997 100,000 6.70% 2006 365,000 7.25% 1998 115,000 7.00% 2007 390,000 7.30% 1999 150,000 7.OOo 2008 425,000 7.30% 2000 175,000 7.00% 2009 450,000 7.30% 2001 190,000 -7.00% 2010 480,000 7.30% 2002 200,000 7.10% 2011 515,000 7.30% 2003 225,000 7.15% 2012 550,000 7.30% 2004 250,000 7.20% The interest on all of the Bonds is payable semiannually on February 1 and August 1 of each year, beginning February 1, 1991. Interest shall be calculated on the basis of twelve 30-day months for a 360-day year. The interest on the Bonds shall be payable by check or draft mailed one business day prior to the interest payment date to the person in whose name each Bond is registered on the fifteenth day of the month preceding such interest payment date. The principal of, and premium on, the Bonds shall be payable upon presentment and -5- surrender thereof in lawful money of the United States of America, at the principal office of the Trustee in the City of South Bend, • Indiana. All Bonds shall be cancelled upon their payment by the Trustee. The Trustee shall dispose of such Bonds as permitted by law and furnish to the Authority a certificate of their disposal, signed by an authorized officer of the Trustee. Sec. 2.02. The Bonds shall be executed in the name of the Authority by the facsimile signature of the President of its Board and attested by the facsimile signature of the Secretary-Treasurer of the Board. In case any official whose facsimile signature appears on the Bonds, shall cease to be such officer before the Bonds shall be duly issued .and delivered, such Bonds shall, nevertheless, be the Bonds of the Authority and in all respects binding and obligatory upon it to the same extent as if signed by the officers of the Authority at the date of the actual issuance and delivery thereof. Sec. 2.03. Each of the Bonds shall be authenticated by a certificate of the Trustee endorsed thereon substantially in the form hereinafter set forth. Only such Bonds as shall bear thereon the certificate of the Trustee shall be secured by this Agreement or entitled to any lien or benefit hereunder, and the certificate of the Trustee upon any such Bond executed by the Authority shall be conclusive evidence that the Bond so authenticated has been duly • issued hereunder and is entitled to the benefits of the trust hereby created. Sec. 2.04. The form of said Bonds, the Trustee's certificate to be endorsed thereon, and the registration endorsement (with appropriate insertions of amounts and distinguishing numbers and letters), shall be substantially as follows: -6- • (Form of Bond) UNITED STATES OF AMERICA State of Indiana County of St. Joseph Registered Registered No. $ SOUTH BEND REDEVELOPMENT AUTHORITY LEASE RENTAL REVENUE BOND (SOUTH BEND CENTRAL DEVELOPMENT AREA PUBLIC IMPROVEMENT PROJECT) Interest Maturity Original Authentication Rate Date Date Date CUSIP Registered Owner: Principal Sum: • SOUTH BEND REDEVELOPMENT AUTHORITY, a body corporate and politic, duly organized and existing under the laws of the State of Indiana (hereinafter called the "Authority"), for value received, hereby promises to pay to the Registered Owner (named above) or registered assigns, solely out of the Pledged Funds (hereinafter referred to) the Principal Sum set forth above on the Maturity Date set forth above (unless this Bond is subject to and shall have been duly called for prior redemption and payment made as provided for herein) , and to pay interest hereon soley from such Pledged Funds until the Principal Sum shall be fully paid at the rate per annum stated above from the interest payment date next preceding the Authentication Date of this Bond unless this Bond is authenticated after the fifteenth day of the month preceding an interest payment date and on or before such interest payment date in which case it shall bear interest from such interest payment date, or unless this Bond is authenticated on or before January 15, 1991, in which case it shall bear interest-from the Original Date, which interest is payable on February 1 and August 1 of each year, beginning on February 1, 1991. Interest shall be calculated on the basis of twelve 30-day months for a 360-day year. Interest on this Bond is payable by check or draft mailed one business day prior to the interest payment date to the person in -7- whose name this Bond is registered on the fifteenth day of the month preceding such interest payment date. Principal and premium, • if any, of this Bond are payable upon presentment and surrender hereof in lawful money of the United States of America at the principal office of First Interstate Bank of Northern Indiana, N.A., 112 West Jefferson Boulevard, Post Office Box 1512, South Bend, Indiana 46634. • This Bond shall not be a valid obligation until duly authenticated by the Trustee, or its successors in trust, by the execution of the certificate endorsed hereon. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF DULY SET FORTH HEREIN. IN WITNESS WHEREOF, the SOUTH BEND REDEVELOPMENT AUTHORITY has caused this Bond to be executed in its name and on its behalf by the facsimile signature of the President of its Board of Directors and attested by the facsimile signature of the Secretary-Treasurer of its Board of Directors. ATTEST: (facsimile) Secretary-Treasurer, Board of Directors SOUTH BEND REDEVELOPMENT AUTHORITY By (facsimile) President, Board of Directors TRUSTEE'S CERTIFICATE By FIRST INTERSTATE BANK OF NORTHERN INDIANA, N.A., Trustee Authorized Officer (Reverse of Bond) This Bond is one of the Bonds described in the within-mentioned Trust Agreement. This Bond is one of an authorized issue of Bend Redevelopment Authority, all of like date, Bonds of the South tenor and effect -8- • (except as to numbering, denomination, interest rates and dates of maturity), in the aggregate principal amount of Four Million Eight Hundred Ninety-Five Thousand Dollars ($4,895,000), issued under and • in accordance with, and all equally and ratably entitled to the benefits of, and ratably secured by, a Trust Agreement (hereinafter called the "Agreement"), dated as of November 1, 1989, executed by the Authority and First Interstate Bank of Northern Indiana, N.A., as Trustee, to which reference is hereby made for a description of the rentals and other income (the "Pledged Funds") pledged as security for the payment of the Bonds and interest thereon and the rights under said Agreement of the Authority, the holders of the Bonds and the Trustee, to all of which the holders hereof, by the acceptance of this Bond, agree. The Authority covenants that one business day prior to February 1 and August 1 in each year, beginning with February 1, 1991, it will pay to the Trustee, prior to the due date, solely out of the Pledged Funds, an amount sufficient to pay the principal and all interest as it becomes due until all of the Bonds of this issue shall have been retired. The Bonds of this issue maturing on or after February 1, 2003, may be redeemed prior to maturity at the option of the Authority in whole or in part in whole multiples of $5,000, in inverse order of maturities and by lot within maturities, on any date not earlier than February 1, 2002, at face value and without premium, plus accrued interest to the date fixed for redemption; provided notice has been given by first-class mail to the registered owners of all • Bonds to be redeemed. If this Bond is so called for redemption, and payment is made to the Trustee in accordance with the terms of .the Agreement, this Bond shall cease to bear interest or to be entitled to the lien of the Agreement from and after the date fixed for the redemption in the call. In case an event of default, as defined in the Agreement, occurs, the principal of this Bond may become or may be declared due and payable prior to the stated maturity hereof, in the manner, and with the effect, and subject to the conditions provided in the Agreement. This Bond is transferable by the registered owner hereof at the principal office of First Interstate Bank of Northern Indiana, N.A., upon surrender and cancellation of this Bond and on presentation of a duly executed written instrument of transfer and thereupon a new Bond or Bonds of the same aggregate principal amount and maturity and in authorized denominations will be issued to the transferee or transferees in exchange therefor. This Bond may be exchanged upon surrender hereof at the principal office of First Interstate Bank of Northern Indiana, N.A., duly endorsed by the owner for the same aggregate principal amount of Bonds of the -9- ~~ J same .maturity in authorized denominations as the owner may request. The Authority and the Trustee may deem and treat the person in • whose name this Bond is registered as the absolute owner hereof. The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations. TEN COM - as tenants in common TEN ENT - as tenants by the entireties JT TEN - as joint tenants with right of survivorship and not as tenants in common UNIF GIFT MIN ACT - Custodian (Gust). (Minor) under Uniform Gifts to Minors Act (State) Additional abbreviations may also be used though not in the list above. r~ LJ -10- ASSIGNMENT • FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto please insert social security or other identifying number of assignee (please print or typewrite within Bond and all rights constitutes and appoints Attorney, to transfer the registration thereof, with premises. Dated: Signature Guaranteed name and address of Transferee) the thereunder, and hereby irrevocably within Bond on the books kept full power of substitution in NOTICE: Signature(s) must be guaranteed by a broker-dealer or a commercial bank or trust company. for the REGISTERED OWNER NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the face of the within Bond in every particular, without alternation. or enlargement or any change whatever. (End of Bond Form) Sec. 2.05. The Bonds so executed by the Authority and authenticated by the Trustee shall be delivered by the Trustee to the purchasers thereof in the amount, at the time, and upon the payment of the purchase price thereof, as requested in writing by the Authority. Sec. 2.06. In case any Bond issued under this Agreement shall become mutilated or be destroyed, stolen or lost, the Authority, in its discretion, may issue, and thereupon said Trustee shall certify and deliver in exchange for and in place and upon cancellation of the mutilated Bond, or in lieu of and substitution for the same if destroyed, stolen or lost, a new Bond of like denomination and tenor, but which, in the discretion of the -11- • Authority or the Trustee, may bear the same or a different serial number, be marked "Duplicate," or be otherwise distinguished. In • case of destruction, theft or loss, the applicant for a substituted Bond shall furnish to the Authority and said Trustee evidence of the destruction of such Bond so destroyed, which evidence must be satisfactory to the Authority and said Trustee, in their discretion, and said applicant shall also furnish indemnity satisfactory to both of them in their discretion. The Authority shall have the right to require the payment of the' expense of issuing .such replacement prior to the delivery of a new Bond. Sec. 2.07. The Trustee shall keep, at its principal office, a record for the registration of Bonds issued hereunder which shall, at all reasonable times, be open for inspection by the Authority. Each registered Bond shall be transferable only on such record at the principal office of the Trustee, at the written request of the registered owner thereof or his attorney duly authorized in writing, upon surrender thereof, together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner or his duly authorized attorney. Sec. 2.08. The Authority and the Trustee may deem and treat the person in whose name any Bond issued hereunder shall be registered as the absolute owner of such Bond for the purpose of receiving payment of or on account of the principal of said Bond, and for all other purposes whatsoever. Sec. 2.09. Registered owners of Bonds may, upon surrender. thereof at the principal office of the Trustee with a written instrument of transfer satisfactory to the Trustee, exchange a Bond or Bonds for a Bond or Bonds of equal aggregate principal amount of the same maturity and interest rate of any authorized denominations. For every exchange or transfer of Bonds, the Trustee may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, which shall be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exchange or transfer. The cost of preparing each new Bond upon each exchange or transfer, and any other expenses of the Trustee incurred in connection therewith (except any applicable tax, fee or other governmental charge) shall be paid by the Authority. The Trustee shall not be obliged to make any transfer or exchange of any Bond called for redemption within thirty days of the redemption date. -12- ARTICLE III. • Funds Sec. 3.01. There is hereby established and created a funddesignated as the "South Bend Redevelopment Authority South Bend Central Development Area Public Improvement Project Construction Fund." The Construction Fund shall consist of the following accounts: Construction Account and Bond Interest Account. The Trustee shall deposit in the Bond Interest Account the accrued interest paid by the purchaser and any unused discount and an amount from the Bond proceeds which, when added to the accrued interest and any unused discount shall equal the sum of the interest on the Bonds through August 1, 1992 plus $60,000. The Trustee shall, without other or further authority than is hereby given, pay from the Bond Interest Account, or if the Bond Interest Account is not sufficient, then from the Construction Account, or if the Bond Interest Account and the Construction Account are not sufficient, then from the Operation and Reserve Fund created below, interest accruing on all obligations of the Authority until the filing of the Affidavit of Project Completion referred to below. The Trustee shall deposit all Bond proceeds not required to be deposited in another account into the Construction Account. The Trustee shall pay the cost of issuance of the Bonds from such • account upon the presentation of an affidavit executed by any two officers of the Authority, stating the character of the expenditure, the amount thereof, and to whom due, together with a statement of the creditor as to the amount owing. The Trustee shall also pay obligations incurred for labor and to contractors, vendors, builders and materialmen, and for acquiring real. estate and improvements thereto and equipment for the Project, the fees and expenses of architects, engineers and construction managers and any costs of construction and land acquisition and any other incidental costs incurred in connection with the cost of construction and equipment of the Project and land acquisition, including the audit referred to in Section 5.07(c). Such payments shall be made on presentation of a certificate of an architect or engineer of work completed and materials or items furnished, approved in writing by any two officers of the Authority (or, alternatively, by any two members of the Board of Public Works of ,the City of South Bend, Indiana (the "Board o~ Public Works"), so long as the Agency Agreement (the "Agency Agreement") dated January 22, 1990 between the Authority and the Board of Public Works is in effect; the Authority has provided the Trustee with a copy of such Agency Agreement and hereby covenants to provide the Trustee copies of any amendments to such Agency Agreement), or in the case of any items not subject to certification by the architect or engineer, • -13- then upon the presentation of an affidavit executed by any two officers of the Authority (or, alternatively, by any two members • of the Board of Public Works, as set forth above), stating the character of the expenditure, the amount thereof, and to whom due, together with the statement of the creditor as to the amount owing. Upon the filing with the Trustee of such Affidavit of Project Completion, the Trustee shall: (a) Transfer from the Bond Interest. Account of the Construction Fund to the Sinking Fund created by Section 3.02 an amount sufficient to pay principal and interest on the Bonds which the lease rental received pursuant to the Lease hereof will not be sufficient to pay when due; and (b) Transfer the balance, if any, in the Bond Interest Account to the Construction Account. After the filing of said Affidavit of Project Completion, the Trustee shall hold in the Construction Account an amount equal to one hundred fifty percent (150%) of the amount of any disputed claims of contractors and work to be repaired and transfer the unobligated balance of the Construction Account, if any, to the Sinking Fund referred to in Section 3.02 hereof. Any balance remaining in the Construction Account after payment of all disputed claims, claims for repair work, and obligations authorized by Subsection (Third) of Section 5.12 shall be transferred to the • Sinking Fund within ten (10) days after the last payment of such obligations. The Trustee shall have no responsibility to see that the Construction Fund is properly applied, except as herein specifically provided. Sec. 3.02. There is hereby established and created a fund designated as the "South Bend Redevelopment Authority South Bend Central Development Area Public Improvement Project Sinking Fund." The Trustee shall deposit in such Sinking Fund from each rental payment received by the Trustee pursuant to the Lease, an amount equal to the following whichever is less: (a) All of such rental payment; or (b) An amount which, when added to the amount in the Sinking Fund on the deposit date equals the sum of the following amounts: (i) Unpaid interest on the Bonds due on, before or within forty-five (45) days after the date such rental payment becomes due; and -14- (ii) Unpaid principal on the Bonds due on, before or within eight (8) months from the date such rental payment becomes . due. Any portion of a rental payment remaining after such deposit shall be deposited by the Trustee in the Operation and Reserve Fund provided for in Section 3.03. The Trustee shall from time to time withdraw from such Sinking Fund, or if the Sinking Fund is not sufficient, then from the Construction Account of the Construction Fund, or if the Sinking Fund and the Construction Account of the Construction Fund are not sufficient, then from the Operation and Reserve Fund created below, and shall deposit in a special trust fund and make available to itself, sufficient moneys for paying the principal of the ,Bonds at maturity and to pay the interest on the Bonds as the same falls due. Sec. 3.03. There is hereby established and created a fund designated as the "South Bend Redevelopment Authority south Bend Central Development Area Public Improvement Project Operation and Reserve Fund." The Operation and Reserve Fund shall be used only to pay necessary incidental expenses of the Authority (e.g. required audits, appraisals, meetings and reports), the payment of principal, interest and redemption premiums of the Bonds herein described upon redemption as authorized by Article IV hereof or the purchase price of Bonds purchased as authorized by Sec. 3.07, and if the amount in the Sinking Fund at any time is less than the required amount, the Trustee shall, without any further authorization, transfer funds from the Operation and Reserve Fund to the Sinking Fund in an amount sufficient to raise the amount in the Sinking Fund to the required amount. Such action by the Trustee shall not constitute a waiver of any other right or remedy the Trustee may have under this Agreement. Incidental expenses shall be paid by the Trustee upon the presentation of an affidavit executed by any two (2) officers of the Authority, stating the character of the expenditure, the amount thereof, and to whom due, together with the statement of the creditor as to the amount owing. The Operation and Reserve Fund may also be used for purposes stated in Section 5.11. Sec. 3.04. Pursuant to the written instructions of the Authority, the Trustee shall establish and maintain such fund or funds and take such other actions as may be necessary to enable the Authority to satisfy the requirements of Section 148 (f ) of the Code and the Arbitrage Regulations; provided, however, that the Trustee shall be under no obligation to make computations of the amount of arbitrage required to be rebated to the federal government of the United States of America. Sec. 3.05. The Trustee shall, at the written direction of the Authority, and subject to Section 5.14, invest all or so much -15- • of the funds as is practicable in Qualified Securities, to the extent and in the manner permitted by law. Investment earnings • shall be deposited into the Construction Fund until receipt by the Trustee of an Affidavit of Project Completion as provided in Article III, and thereafter, shall be credited to the fund from which the investments were made. The Trustee is authorized to sell any securities so acquired from time to time in order to make the payments authorized in this Agreement. Investment of the Sinking Fund shall mature prior to the time the funds invested will be needed for payment of principal of and interest on the Bonds. Sec. 3.06. Whenever the amounts contained in the Sinking Fund and the Operation and Reserve Fund are sufficient, together with any other funds deposited with the Trustee by the Authority, to redeem, upon the next redemption date, all Bonds secured hereby then outstanding, the Trustee shall apply the amounts in such Funds to the redemption of such Bonds pursuant to Article IV hereof. Sec. 3.07. At the request of the Authority, expressed by a resolution of the Board of Directors, or a copy thereof certified by the .Secretary-Treasurer and delivered to the Trustee, the Trustee may remove funds from the operation and Reserve Fund to be used for the redemption of Bonds, or for the purchase of Bonds if the Authority and Trustee agree that redemption or purchase of Bonds would be advantageous to the Authority. Sec. 3.08. A pledge of all moneys paid or deposited into • the Sinking Fund, and of all rentals paid pursuant to the Lease other than pursuant to Section 3(b) thereof, is hereby made, and the same are hereby pledged to the Trustee to secure the payment of the principal and redemption price of and interest on the Bonds, all to the extent herein provided. The rentals so pledged and hereafter received by the Trustee or Authority, shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act; and the lien of such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Authority, irrespective of whether such parties have notice thereof. ARTICLE IV. Redemption of Bonds Sec. 4.01. The Authority shall have the right, at its option, to redeem, according to the procedure hereinafter provided, all or any part of the Bonds secured by this Agreement maturing on or after February 1, 2003, in whole multiples of $5,000, in inverse order of maturities and by lot within maturities, on any date not -16- earlier than February 1, 2002, at face value plus interest accrued to the date fixed for redemption and without premium. • Sec. 4.02. To evidence its intention to exercise the right of redemption, the Authority shall, not less than forty-five (45) days prior to the date selected for redemption, file with the Trustee written notice of its intention to redeem, designating the date fixed for redemption, and if less than all of the outstanding Bonds are to be redeemed stating the aggregate principal amount of Bonds which the Authority desires to redeem. If less than all of the outstanding Bonds are to be redeemed, then the Bonds shall be redeemed in inverse order of maturity and by lot (in such manner as the Trustee shall determine) within maturities. No defect in such notice by the Authority to the Trustee shall affect the validity of the redemption of any Bonds. Sec. 4.03. Official notice of such redemption shall be sent first-class mail by the Trustee to the registered owners of all Bonds to be redeemed, not less than thirty (30) days prior to the date fixed for redemption. Said official notice shall be dated and shall, with substantial accuracy: (a) Designate the date and places of redemption, said places to be the offices of the Trustee; (b) If the Bonds to be redeemed are less than the whole amount outstanding, designate the Bonds (or portions thereof) to be redeemed; and (c) State that on the designated date fixed for said redemption said Bonds shall be redeemed by the payment of the applicable redemption price hereinbefore set forth, and that from and after the date so fixed for such redemption interest on the Bonds so called for redemption shall cease. In all cases, the cost and expenses of the preparation and mailing of said official notices of redemption shall be paid by the Authority. In addition to the foregoing notice, further notice may be given by the Trustee as it deems appropriate by mail, publication or otherwise to registered securities depositories, national information services or others containing the above information and such further information as the Trustee may deem appropriate, but no defect in said further notice, nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as .above described. -17- Sec. 4.04. Such notice having been mailed as above provided, the Bonds designated for redemption shall, on the date become due and payable at the then specified in such notice, applicable redemption price, and on presentation and surrender of such Bonds in accordance with such notice, at the place at which the same are expressed in such notice to be redeemable, such Bonds shall be redeemed by the Trustee on behalf of the Authority by the payment of such redemption price to the registered owners out of .funds held by the Trustee for that purpose. From and after the date of redemption so designated, unless default shall be made in the redemption of the Bonds upon presentation, interest on Bonds designated for redemp heogondsashall continue to bear interest at presentation thereof, the rate therein specified.' Sec. 4.05. All Bonds so redeemed (or purchased as authorized by Sec. 3.07) shall be cancelled and disposed of as provided in Section 2.01. Bonds so redeemed or purchased shall not be reissued, nor shall any Bonds be issued in lieu thereof. Sec. 4.06. If the amount necessary to redeem any Bonds called for redemption, as aforesaid, shall have been deposited with the Trustee for the account of the owner or owners of such Bonds on or before the date specified for such redemption, and if the notice hereinbefore mentioned shall have been duly mailed or provision satisfactory to the Trustee shall have been made for the mailing of such notice, and if all proper charges and expenses of the Trustee in connection with such redemption shall have been paid or provided for, the Authority shall be released from all liability on such Bonds and such Bonds shall no longer be deemed to be outstanding hereunder, and interest thereon shall cease at the date specified for such redemption; and thereafter such Bonds shall not be secured by the lien of this Agreement. The Trustee shall be privileged to give notice of any call for redemption, but shall not be required to do so unless the amount necessary to redeem the Bonds called and to pay all proper charges of the Trustee shall have been deposited with, paid to, or otherwise made available to the Trustee, as aforesaid. In case any question shall arise as to whether any such notice shall have been sufficiently given or any such redemption shall be effective, such question shall be decided by the Trustee, and the decision of the Trustee shall be final and binding upon all parties in interest. ARTICLE V. Covenants of the Authority Sec. 5.01. The Authority covenants and agrees that it will faithfully do and perform, and at all times faithfully observe, any -18- • and all covenants, undertakings, stipulations and provisions contained in each and every Bond issued hereunder, and will duly • and punctually pay or cause to be paid the principal of said Bonds and the premium, if any, and interest thereon, at the times and places, and in the manner mentioned in said Bonds, according to the true intent and meaning thereof. Except as in this Agreement otherwise provided, the principal, interest and premiums are payable soley from Pledged Funds including the rental derived from the Project, which Pledged Funds are hereby pledged to the payment thereof in the manner and to the extent provided in this Agreement and in said Bonds. Sec. 5.02. The Authority covenants that it will promptly make, execute and deliver all agreements supplemental hereto, or otherwise, and take all such action as may be reasonably be deemed, by the Trustee or by its counsel, necessary or advisable for the better securing of any Bonds issued hereunder, or as may be required, to carry out the purposes of this Agreement. Sec. 5.03. The Authority covenants that, except as to that part of the Project which may hereafter be acquired by it, the Authority has heretofore acquired the Project, subject only to Permitted Encumbrances, defined in the Lease, and such other encumbrances as shall be permitted by the Trustee, and has good right, full power and lawful authority to make this Agreement and to pledge the lease rentals of the Project as herein provided, and that it has and will preserve all of its interest in all such property, subject to Permitted Encumbrances, as such term is defined in the Lease, and such other encumbrances as shall be permitted by the Trustee, and will warrant and defend the same to the Trustee against the claims of all persons whatsoever. Sec. 5.04. The Authority covenants that it will promptly, and before they shall become delinquent, pay or cause to be paid all lawful taxes, charges and assessments at any time levied or assessed upon or against the Project, or any part thereof, or upon the use of the same, or upon the income or profits thereof, and all license fees, franchise taxes and other like statutory charges; provided, however, that no such tax, charge or assessment shall be required to be paid so long as the validity of the same shall be in good faith contested by the Authority; further, that it will not suffer any lien or charge to be enforced or to exist against the Project or any part thereof, or upon the Lease or the Pledged Funds, except the lien and charge of the Bonds secured hereby upon such Lease and Pledged Funds, and except for Permitted Encumbrances, as such term is defined in the Lease, and such other encumbrances as shall be permitted by the Trustee; that it will not commit or suffer any waste of said property; and that it will at all times, directly or through other appropriate governmental entities, operate the property and keep and maintain said property -19- and all buildings, structures, apparatus and appurtenances thereon or thereof in good repair, working order and condition, and will i from time to time make., or cause to be made, all needful and proper repairs, renewals and replacements. Sec. 5.05. The Authority covenants that until all indebtedness secured by this Agreement is fully paid, it will faithfully observe and comply with the terms of all applicable laws and ordinances of the State of Indiana and any political or municipal subdivision thereof. Sec. 5.06. If the Authority should at any time fail to pay in apt season any tax, assessment or other charge upon the Project, or any part thereof, or fail to pay promptly when payable any license fee, franchise or corporation tax, or like statutory charge, the Trustee may, without obligation to inquire into the validity thereof, pay such tax, assessment, fee or other charge, but without prejudice to the rights of the Trustee arising hereunder in consequence of such default, and the amount of every payment so made at any time by the Trustee, with interest thereon at the highest rate of interest on any one of the Bonds when sold, whether or not then outstanding, from the date of payment, shall constitute an additional indebtedness of the Authority secured by the lien of this Agreement, prior or paramount to the lien hereunder of any of said Bonds and the premium and interest thereon. Sec. 5.07. The Authority covenants that proper books of record and account will be kept in which full, true and correct entries will be made of all dealings or transactions of or in relation to the properties, business affairs of the Authority, and that it will: (a) At such times as the Trustee shall reasonably request, furnish statements in reasonable detail showing the earnings, expenses and financial condition of the Authority. (b) From time to time furnish to the Trustee such information as to the property of the Authority as the Trustee shall reasonably request. (c) On or before the expiration of one hundred twenty (120) days after the completion of the Project, furnish to the Trustee a full audit and report, certified by independent certified public accountants,. covering the operations of the Authority to the completion of construction, and showing the receipts and disbursements for such period, and the assets and liabilities of the Authority at the expiration of such .period. Such financial statements and reports shall be available at all reasonable times for the inspection of any Bondholder or his authorized agent. -20- If the Authority shall fail to obtain and frocure such • audit and report, the Trustee may, in its discretion, p audit and report, .and pay for the same from the Operation and Reserve Fund, unless there are not sufficient funds in said Fund, in which case all moneys paid by the Trustee for such audit and report, together with interest thereon at the highest rate of interest on any of the Bonds when sold, whether or not then outstanding, shall be repaid by the Authority upon demand, and shall constitute an additional indebt rdorsand paramountttorthe secured by the lien of this Agreement, p lien hereunder of said Bonds and premium and interest thereon. The Trustee, however, shall not be obligated to obtain such audit and report unless fully indemnified against the expense thereof and furnished with means therefor. (d) On or before the expiratfile with nthe TruOstee ya after the end of each calendar year, .and its certificate signed by its President or Vice President, Secretary-Treasurer, stating that all taxes then due on the Project have been duly paid (unless the Authority shall, in good faith, contest any of said taxes, in which event the facts concerning such contest shall be set forth); also stating that all insurance premiums required by the terms of the Agreement to be paid by the Authority upon the Project have been duly p The Authority further covenanes tbusines sands ~a afairs not the • vouchers relating to the propert , Authority shall at all times be open to the inspection of such accountants or other agents as the Trustee may from time to time designate. Sec. 5.08. In order to preserve the exclusion of interest on the Bonds from gross income for federal income tax purposes and as an inducement to purchasers of the Bonds, the Authority represents, covenants and agrees that, to the extent necessary: (a) No person or entity or any combination thereof, other than the Authority or a governmental unit (other than the federal .government) will use proceeds of the Bonds or Preperal financed by said proceeds other than as a member of the g public. No person or entity or any combination thereof, other than the Authority or a governmental unit (other than the federal government) will own property financed by Bond rsuanteto a leasel have actual or beneficial use of such property p a management or incentive payment contract, an arrangement such as a take-or-pay or other type of output contract or any other type of arrangement that differentiates that .person's or entity's use of such property from use by the public at large of such property. -21- (b) No Bond proceeds will be loaned to any entity or person. No Bond proceeds will be transferred, directly or • indirectly, or deould inasubstanaet~onst~tuoeeanloanaofptheoBond any manner that w proceeds. (c) The Authority will not take any action or fail to take any action with respect to the Bonds that would result in the loss of the exclusion from gross income for federal tax purposes of interest on the Bonds pursuant to Section 103(a) of the Code, as in effect on the date of delivery of the Bonds, nor will the Authority act in any manner which would adversely affect such exclusion. The Authority further covenants that it will not make any investment or do any other act or thing during the period that any Bond is outstanding hereunder which would cause any Bond to be an "arbitrage bond" within the meaning of Section 148 of the Code and the Arbitrage Regulations as in effect on the date of delivery of the Bend s• underutsectionsh148 c o P1 the t Code ato ltthee extent requirem applicable. (d) All officers, employees and agents of the Authority are authorized and directed to provide certifications of facts and estimates that are material to the reasonable expectations of the Authority as of the date the Bonds are issued and to enter into covenants on behalf of the Authority evidencing the Authority's commitment's made herein. In particular, all or any officers, • members, employees and agents of the Authority are authorized to certify and/or enter into covenants for the Authority regarding the facts and circumstances and reasonable expectations of the Authority on the date the Bonds are issued and the commitments made by the Authority herein regarding the amount and use of the proceeds of the Bonds. (e) The Authority will not take any action nor fail to take any action with respect to the Bonds that would result in the loss of the exclusion from gross income for federal income tax purposes of interest on the Bonds pursuant to Section 103 of the Code, nor will the Authority act in any other manner which would adversely affect such exclusion. (f) The Authority covenants that, so long as any of the Bonds remain outstanding, no investment of Bond proceeds will be made, directly or indirectly, which would cause the Bonds to be classified as "arbitrage bonds" within the meaning of Section 148 of the Code or the Arbitrage Regulations. The Authority has furnished to the Trustee concurrently with the execution and delivery of this Agreement, signed copies of the arbitrage certificate of the kind contemplated by the Arbitrage • -22- Regulations. The Trustee shall have the right in connection with any investment of money in the Construction Fund, the Sinking Fund • or the Operation and Reserve Fund to be made by it to require that the Authority furnish the Trustee an opinion of counsel, experienced in matters relating to the tax exemption of interest payable on obligations of states and their instrumentalities and political subdivisions, to the effect that the proposed investment will no~he ameaning of nSect on 1481 of 1thedCode 11orbthea Arbbtrage within Regulations. The Authority covenants that it will not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the exclusion-from gross income of the interest on the Bonds under Section 103 of the Code. The Authority will not directly or indirectly use or permit the use of any proceeds of the Bonds or any other funds of the Authority, or take or omit to take any action that would cause the Bonds to be "arbitrage bonds" within the meaning of Section 148(a) of the Code. To that end, the Authority will comply with all requirements of Section 148 of the Code to the extent applicable to the Bonds. In the event that at any time the Authority is of the opinion that for purposes of this Section it is necessary to restrict or limit the yield on the investment of any moneys held by the Trustee under this .Agreement, the Authority shall so instruct the Trustee in writing, and the Trustee shall take such action as may be necessary in accordance with such instructions. Without limiting the generality of the foregoing, the Authority agrees that there shall be paid from time to time all amounts required to be rebated to the United States pursuant to Section 148(f) of the Code and any temporary, proposed or final Treasury Regulations as may be applicable to the Bonds from time to time. This covenant shall survive payment in full or defeasance of the Bonds. Notwithstanding any provision of this Section, if the Authority shall provide to the Trustee an opinion of nationally recognized Bond counsel to the effect that any action required under this Section is no longer required, or to the effect that some further action is required, to maintain the exclusion from gross income of the interest on the Bonds pursuant to Section 103 of the Code, the Authority may rely conclusively on such opinion in complying with the provisions hereof. Sec. 5.09. The Authority covenants that it will not guarantee, endorse or otherwise become surety for or upon the indebtedness of others except by endorsement of negotiable instruments for deposit or collection in the ordinary course of business, and that it will not sell its accounts receivable. -23- Sec. 5.10. The Authority covenants that it will not acquire any property, real or personal, subject to an existing mortgage or other encumbrance, except as permitted by Sec. 5.11. Sec. 5.11. The Authority covenants that it will not incur any indebtedness secured by this Agreement other than the Bonds unless either (a) the Project cannot be completed without unreasonable delay which would threaten a default in the payment of principal or interest on the Bonds without such additional indebtedness, and such additional indebtedness is payable only from the Operation and Reserve Fund (to the extent that such Fund is not needed to pay necessary incidental expenses of the Authority) and from property and income of the Authority remaining or received after all Bonds authorized herein have become due and payable and sufficient funds have been provided to pay all principal and interest due on such Bonds and all fees of the Trustee then due and payable, or (b) such additional indebtedness is payable soley from income of the Authority other than the rental payments provided for in the Lease as long as any of the Bonds are outstanding. This section shall not be construed to prohibit the issuance of refunding Bonds and the pledging of lease rentals to be received after the. redemption of the Bonds. Sec. 5.12. The Authority covenants that the proceeds of the Bonds deposited in the Construction Account shall be used for the following purposes: • (First) The payment of the balance, if any, of the purchase price of the real estate herein specifically described; (Second) The payment of the cost of construction of the Project on said real estate in accordance with the provisions of Section 5.13 hereof. The cost of erection shall include but not be limited to the items set forth in Sec. 3.01 hereof. (Third) Any balance in excess of one hundred fifty percent (1500) of the amount of any disputed claims of contractors and work to be repaired remaining after the completion of the Project in accordance with Sec. 5.13 hereof may be obligated within a period of one (1) year thereafter for any one or more of the following purposes upon written request of the Lessee: (a) For the purchase of equipment for said Project; or (b) For the improvement of said Project. (Fourth) Any balance in excess of one hundred fifty percent (150%) of the amount of any disputed claims of construction and work to be repaired remaining unobligated after one (1) year from -24- • the filing of the affidavit referred to in Sec. 3.01 shall be transferred to the Sinking Fund as provided~in Sec. 3.01. • (Fifth) Any balance remaining after payment of all obligations touthe SinkingyFund within tenT(10) )daysoaftersthellast transferred payment of such obligations. Sec. 5.13. The Authority covenants that it has entered into a valid and binding Lease of the Project to the Commission, and that a full, true and correct copy of said Lease is on file with the Trustee. The Authority covenants further that it will bring suit to mandate the governing board or officials of the Lessee to levy a tax to pay the rental provided in said Lease, or take such other action to enforce the Lease as is reasonably requested by the Trustee, if such rental is more than sixty (60) days in default. The Authority further covenants that, upon the receipt by the Trustee of the proceeds of the Bonds secured hereby, it will forthwith proceed to construct the Project in accordance with such plans and specifications referred to in said Lease, and will complete such construction with all expedition practicable in accordance with the plans and specifications, together with such changes therein as may be authorized by the Authority pursuant to this Section. The Authority further covenants that it will not authorize, approve or permit any changes to be made in such plans and specifications unless all of the following conditions exist: . (a) the proposed changes in the plans and specifications are approved in writing by the South Bend Redevelopment Commission, as Lessee, and, if such proposed changes, together with all other changes previously made, will increase the original cost of the Project in an amount exceeding Four Hundred Thousand Dollars ($400,000), then by the original purchaser of the Bonds, or if the purchaser is more than one investment house, by the manager of such syndicate; (b) the proposed changes in the plans and- specifications will not alter the character of the Project nor reduce the value thereof; and (c) the proposed changes in the plans and specifications will not result in an increase in the cost of construction of said Project exceeding the amount of the uncommitted funds of the Authority on hand which are not required for the completion of the Project in accordance with the plans and specifications adopted prior to the execution of said Lease, interest on the Bonds during the construction period, and the payment of the incidental expenses incurred in connection with said Project. -25- Prior to the completion of the Project in accordance with the provisions of this section, performance of additional construction . work or the purchase of equipment not specified in the above-mentioned Lease or incorporated therein by reference to the plans and specifications shall be deemed a change or modification in the plans and specifications subject to the requirements of this Section. .Except for changes made in the plans and specifications pursuant to this Section, the Authority covenants that it will not agree to any modification of the terms of said Lease which would substantially impair or reduce the security of the holders of the Bonds described herein or agree to a termination thereof, or agree to a reduction of the lease rental provided for therein which would inhibit payment of debt service on the B odndsexcel t u onncomtliance secured by this Agreement is fully p P P P with the provisions of Sec. 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. Sec. 5.14 The Authority covenants that the proceeds from the sale of the Bonds, proceeds received from lease rentals payable according to the Lease, any other amounts received by the Authority in respect to property directly or indirectly financed with any proceeds of such Bonds, and proceeds from interest earned on the investment and reinvestment of such proceeds and amounts, shall not be invested or otherwise used in a manner which would cause such Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code and the Arbitrage Regulations. Any such investment or other use by the Trustee shall comply with Section 148 of the Code and such regulations or rules adopted pursuant to said Section 148, as may be applicable and any restrictions stated in the arbitrage certificate of the Authority. Sec. 5.15. The Authority covenants that whenever there are sufficient funds held by the Trustee in the Sinking Fund and/or Operation and Reserve Fund to pay the principal, redemption premiums and interest to the next interest payment date on all outstanding Bonds, it will call all outstanding Bonds for redemption and hereby consents and directs the Trustee to call all outstanding Bonds for redemption. Sec. 5.16. (a) The Authority, at its cost and expense, shall obtain on the date of original issuance of the Bonds a commitment for an owner's policy of title insurance issued by Title Insurance Company of Minnesota, Chicago Title Insurance Company, Commonwealth Land Title Insurance Company or Stewart Title Guaranty Company insuring the marketable indefeasible fee simple title or right-of-way easement of the Authority in the Project in an amount equal to the costs of acquisition and construction of the Project; -26- provided however, that in the case of those portions of the Project for which the final costs of acquisition and construction cannot • be precisely defined as of the date of original issuance of the Bonds,. the Authority shall apply for and use its best efforts to obtain an increase in the amount of the commitment for title insurance pertaining to those portions of the Project in an amount equal to the final costs. of acquisition and construction upon completion of such acquisition and construction. As the real property interests constituting part of the Project are obtained by the Authority, all such policies of title insurance obtained pursuant to such commitments shall be in substantial conformity to the title insurance commitments attached hereto as Exhibits B, C, D and E and incorporated herein by reference, free of all standard (preprinted) exceptions and all special exceptions, other than Permitted Encumbrances (as such term is defined in the Lease). (b) The Authority hereby assigns to the Trustee all proceeds payable under the owner's policies referred to in this Section 5.16 and all of the insured's rights thereunder, the full amount of which proceeds shall be paid directly to the Trustee by the title insurers referred to above. The Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under the owner's policies and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the Trustee may deem it advisable to make with such title insurers. The Trustee may reimburse itself from any such insurance money for the costs and expenses incurred by the Trustee in connection with (i) demanding, collecting and recovering the insurance moneys and (ii) any related court action, settlement or adjustment, including without limitation, attorney fees (the "Collection Costs"). All insurance moneys collectedess recovered under the owner's policies referred to above, Collection Costs, shall be used, at the Trustee's option, either (i) to cure title defects and/or obtain marketable, indefeasible fee simple title or a right-of-way easement to the Project or (ii) redeem the Bonds or portions thereof on the earliest possible redemption date. ARTICLE VI. Insurance Sec. 6.01. The Authority covenants that during the construction of the Project, it will carry or will cause other persons to carry for its benefit the following kinds of insurance: (a) Builder's risk insurance in the amount of one hundred percent (100%) of the insurable value of the Project -27- against physical loss or damage thereto, however caused, with such exceptions as are ordinarily required by insurers of buildings or • facilities of a similar type. Such insurance shall be carried in completed value form. (b) Bodily injury and property damage insurance naming the Authority as an insured against as well asr 1 aimseforoproperty injury, including accidental death, damages which may arise from such construction. Such insurance shall be carried for not less than. the following limits of liability for the policies indicated: Combined bodily injury insurance, including accidental death, and property damage insurance in an amount not less than One Million Dollars ($1,000,000) on account of one occurrence; or, in the alternative: Bodily injury insurance in an amount not less than one Million Dollars for injuries, including accidental death, to any one (1) person, and in an amount not less than One Million Dollars on account of one (1) accident; and Property damage insurance in an amount not laccident Five Hundred Thousand Dollars on account of any one (1) and in an amount not less than Five Hundred Thousand Dollars in the aggregate during each policy period, each of which shall be not longer than one year. The Authority further covenants that all contracts for the construction of said Project will or do require the contractor to carry such insurance as will protect the contractor from liability under the Indiana Workers' Compensation and Workers' Occupational Diseases Acts. Certificates of the insurance coverage required under Subsection (b) of this section and the preceding sentence shall be furnished to the Trustee. Sec. 6.02. The Authority covenants that, after the completion of the Project, it will carry or cause to be carried: (a) Insurance on the Project against physical loss or damage thereto, however caused, with such exceptions as are ordinarily required by insurers of buildings or facilities of a similar type, which insurance shall be in an amount at least equal to the greater of (i) the option to purchase price under the Lease, or (ii) one hundred percent (100%) of the full replacement cost of the Project as certified by a registered architect, a registered engineer, or a professional appraisal engineer selected by the Authority with the approval of the Trustee, on the effective date of such insurance and on or before April 1 of each year thereafter (such appraisal may be based on a recognized index of conversion -28- factors); 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 under the Lease; such insurance may contain a provision for a deductible in an amount not exceeding $10,000; and (b) Rent or rental value insurance in an amount least equal to the full rental value of the Pro 5 ct for a Pyle dinsured (2) years against physical loss or dama e of the t p against under Sec. 6.02(a) above; and (c) Public liability and property damage insur rovided amounts customarily carried for similar properties; p however, that, notwithstanding Sec. 6.03, such insurance may be provided under the public liability self insurance program of the City of South Bend. Sec. 6.03. Except as provided in Sec. 6.02(c), such insurance policies shall be maintained in 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. A copy of such policies and the architect's or engineer's certificates referred to in Sec. 6.02(a) shall be deposited with the Trustee. Such schedule shall contain the names of the insurers, the amounts of each policy, the character of the risk insured against, the expiration date of each policy, the premium paid thereon, and any other pertinent data. Sec. 6.04. In case the Authority shall at any time refuse, neglect or fail to obtain and furnish such certificate or to effect insurance as aforesaid, the Trustee may, in its discretion, procure such certificate and/or such insurance, and all moneys paid by the Trustee for such certificate and/or insurance, together with interest thereon at the highest rate of interest on any of the Bonds when sold, whether or not then outstanding, shall be repaid by the Authority upon demand, and shall constitute an additional indebtedness of the Authority secured by the lien of this Agreement, prior and paramount to the lien hereunder of said Bonds and interest thereon. The Trustee, however, shall not be obligated to effect such insurance unless fully indemnified against the expense thereof and furnished with means therefor. Sec. 6.05. The insurance policies required by Section 6.01 and Section 6..02 shall be for the benefit, as their interests shall appear, of the Trustee, the Authority, and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and -29- all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the officers of the Authority may deem it advisable to make with the insurance companies. Any proceeds of rent or rental value insurance received by the Trustee representing the annual rentals payable under the Lease shall be deposited by it forthwith to the credit of the Sinking Fund. Sec. 6.06. The proceeds of such insurance received by the Trustee shall be applied to the repair, replacement or reconstruction of the damaged or destroyed property, if in the opinion of an independent registered architect, registered engineer, construction manager or contractor, which architect, engineer, construction manager or contractor shall be acceptable to the Trustee (i) the cost of such repair, replacement or reconstruction shall not exceed the amount of insurance proceeds to be received by reason of such damage or destruction and other amounts available therefor, and (ii) such repair, replacement or reconstruction can be completed within the period covered by the rental value insurance. Such proceeds shall be held and disbursed by the Trustee in the manner and upon the showings provided for in Sec. 3.01 hereof, except that the Trustee may release such proceeds, or a. part thereof, upon a showing satisfactory to the Trustee that repairs have been made and paid for. If either or both conditions shall not exist, the proceeds of such insurance • received by the Trustee shall be used to redeem Bonds. Sec. 6.07. In the event the Authority shall not commence to repair or replace the portion of the Project so damaged or destroyed within ninety (90) days after any such loss or damage, or the Authority, having commenced such work of repair or replacement, shall abandon or fail diligently to prosecute the same, the Trustee may, in its discretion, make or complete such repairs or replacements, and if it shall elect so to do, may enter upon said premises to any extent necessary for the accomplishment of such purposes, but nothing herein contained shall obligate the Trustee to make or complete any such repairs or replacements unless it shall have been requested to do so by the holders of not less than twenty-five percent (25%) in aggregate principal amount of all Bonds outstanding hereunder, and shall have been indemnified to its satisfaction against all loss, damage and expense which it might thereby incur. Sec. 6.08. In case the Authority shall neglect, fail or refuse to proceed forthwith in good faith with the repair or replacement of 'the Project which shall have been so destroyed or damaged, and such negligence, failure or refusal shall continue for one hundred twenty (120) days, the Trustee, upon receipt of the -30- • insurance moneys, shall (unless the Trustee proceeds to make the repairs or r d ltransfer such proce ds tod the S nking Funderty as • above provide ) Sec. 6.09. If, at any time, the Project is totally or substantially destroyed and the amount of insurance money received on account thereof by the Trustee is sufficient to redeem all of the then outstanding Bonds hereunder and such Bonds are then subject to redemption, the Authority, with the written approval of the Commission, may direct the Trustee to use said moneys for the purpose of calling for redemption all of the Bonds issued and then outstanding under this Agreement at the then current redemption price. Sec. 6.10. In the event of any reconstruction of all or a portion of the Project after substantially total destruction of all or a portion thereof , a new building, buildings or improvements or portions thereof may be constructed on the site by the Authority in accordance with plans and specifications which must be satisfactory to the Trustee and the Lessee of such Project, and such new building or buildings or improvements or portions thereof may be wholly different in design or construction. Sec. 6.11. The Trustee may accept the statements, affidavits and certificates hereinabove in this Article VI provided to be filed with the Trustee, as conclusive evidence of the facts therein stated, but the Trustee (although under no obligation so to do) may, at the expense of the Authority, require further or • other evidence of such matters and may rely on the report or opinion of such architect, engineer, other person, or counsel, as it may select for the purpose of making an investigation thereof. ARTICLE VII. Remedies in Case of Default Sec. 7'0d.as and isadeclared to be and to constitute an "event hereby define of default": (a) default in the due and punctual payment of the interest on any Bonds hereby secured and outstanding; (b) default in the due and punctual payment of the principal and premium, if any, of any Bond hereby secured, whether at the stated maturity thereof, or upon proceedings for the redemption thereof, or upon the maturity thereof by declaration as hereinafter provided; -31- i (c) default in the performance or observance of any other of the covenants or agreements of the Authority in this Agreement or • in any supplemental agreement, or in the Bonds, contained, and the continuance thereof for a period of sixty (60) days after written notice thereof to the Authority by the Trustee; (d) if the Authority: (1) admits in writing its inability (2) files a petition to pay its debts generally as they become due; in bankruptcy; (3) makes an assignment for the benefit of its creditors; or (4) consents to or fails to contest the appointment of a receiveart of the tProj ect or sany income therefromle or any substantial p (e) if the Authority: (1) be adjudged insolvent by a court of competent jurisdiction; (2) on a petition in bankruptcy filed against the Authority be adjudged a bankrupt; or (3) if an order, judgment or decree be entered by any court of competent jurisdiction appointing, without the consent of the Authority, a receiver or trustee of the Authority or of the whole or any substantial part of the Project or any income therefrom, and any of the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof; (f) if any judgment shall be recovered against the Authority or any attachment or other court process issue that shall become or create a lien upon the Lease or the Pledged Funds, and such . judgment, attachment, or court process shall not be discharged or effectually secured within sixty (60) days; (g) if the Authority shall file a petition under the provisions of the U.S. Bankruptcy Code, as amended ("Bankruptcy Code"), or file answer seeking the relief provided in said Bankruptcy Code; (h) if a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed against the Authority under the provisions of said Bankruptcy Code, and such judgment, order or decree shal Y not beda as afrom the dates ofe the stayed within one hundred twent (120) y entry thereof; (i) if, under the provisions of any other law now or hereafter existing for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any. substantial part of the Project or the income therefrom, and such custody or control shall not be terminated within one hundred twenty (120) days from the date of assumption of such custody or control; -32- (j) failure of the Authority to bring suit to mandate the governing board or officials of the Lessee to levy a tax to pay the • rental provided in the Lease referred to in Article V, or take such other action to enforce the Lease as is reasonabl da eq in tdefaulthe Trustee, if such rental is more than sixty (60) y (}c) if the lease rental provided for in said Lease is not paid within sixty (60) days after each date it is due; or (1) any event of default as defined in Section 15 of the Lease shall occur and be continuing. Sec. 7.02. In the case of the happening and continuance of any of the events of default specified in Section 7.01, then in any such case the Trustee, by notice in writing mailed to the Authority, may, and upon written request of the holders of twenty-five percent (25%) in principal amount of the Bonds then outstanding hereunder shall, declare the principal of all Bonds hereby secured and then outstanding, and the interest accrued thereon, immediately due and payable, and upon such declaration such principal and interest shall thereupon become and be immediately due and payable; subject, however, to the right of the holders of a majority in principal amount of all such outstanding Bonds, by written notice to the Authority and to the Trustee., to annul each declaration and destroy its effect at any time if all agreements with respect to which default shall have been made shall be fully performed and all such defaults be cured, and all arrears of interest upon all Bonds outstanding hereunder and the reasonable • expenses and charges of the Trustee, its agents and attorneys, and all other indebtedness secured hereby, except the principal of any Bonds not then due by their terms and interest accruadd torrthe since the then last interest payment date, shall be p amount thereof shall be paid to the Trustee for the benefit of those entitled thereto. Sec. 7.03. If default occurs with respect to the Pa able of principal or interest due hereunder, interest shall be pay on overdue principal and overdue interest both at the highest rate of interest on any of the Bonds when sold, whether or not then outstanding. Sec. 7.04. In case of the happening and continuance of any of the events of default specified in Section 7.01, the Trustee may, and shall upon the written request of the holders of at least twenty-five percent (25%) in principal amount of the Bonds then outstanding hereunder and upon being indemnified to its reasonable satisfaction, proceed to protect and enforce its rights and the rights of the holders of the Bonds by suit or suits in equity or at law, or in any court of competent jurisdiction, whether for specific performance of any covenant or agreement contained herein -33- or in aid of any power herein granted, or for the enforcement of any other appropriate legal or equitable remedy. No remedy by the terms of this Agreement conferred upon or reserved to the Truer remed to buteeach and everylsuch tremedy shall exclusive of any oth Y even be cumulative eWdorhhereafter existing at law orhin equity or by hereunder or n statute. No delay or omission to exercise any right owe °W or shalllbe upon any default shall impair any such right or p , construed to be a waiver of any such default or acquiescence therein; and every such right or power may be exercised from time to time and as often as may be deemed expedient. Sec. 7.05. In case of an event of default hereunder and upon the filing of judicial proceedings to enforce the rights of the Trustee and of the Bondholders hereunde ointment of ea receiver entitled, as a matter of right, to the app of the rents, revenues, issues, earnings, income and proceeds thereof pending such proceedings, with such powers as the court making such appointment shall confer. Sec. 7.06. All rights of action under this Agreement or under any of the Bonds, including the right to f oreother similar claim in any receivership, insolvency, bankruptcy, proceedings for the entire amount due and payable by the Authority under this Agreement, may be enforced byroduction tthereofoin any possession of any of the Bonds or the p and any suit or trial or other proceeding relating thereto, proceeding instian t e bo ery shall be for the qua 1 benefit ofnthe as Trustee, and y holders of the outstanding Bonds. Sec. 7.07. It is hereby declared and agreed, as a condition upon which each successive holder of all or any such Bonds receives and holds the same, that no holder or holders of any such Bond shall have the right to institute any proceeding at law or in equity, or for the appointment of a receiver, or (except for filing of claims with the Treasurer of the State of Indiana) for any other remedy under this Agreement, without first giving notice in writing to the Trustee of the occurrence and continuance of an event of default as aforesaid, and unless the holders of at least twenty-five percent (250) in principal amount of the then outstanding Bonds shall have made written request to the Trustee and shall have offered it reasonable opportunity either to proceed to exercise the powers hereinbefore granted or to institute such action, suit or P ustee ade uate secur ty andn demnity aga~nst the offered to the T q • -34- costs, expenses and liabilities to be by the Trustee incurred therein or thereby; and such notice, request, and offer of indemnity may be required by the Trustee as conditions precedent to the execution of the powers and trusts of this Agreement or to the institution of any suit, action or proceeding at law or in equity or for the appointment of a receiver, or for any other remedy hereunder, or otherwise, in case of any such default as aforesaid; it being understood and intended that no one or more holders of the Bonds shall have any right in any manner whatsoever, to affect, disturb or prejudice the lien of this Agreement by his or their action, or to enforce any right hereunder except in the manner herein provided, and that all proceedings at law or in equity shall be instituted, had and maintained in the manner herein provided, and for the equal benefit of all holders of outstanding Bonds. Notwithstanding any other provisions of this Agreement, the right of any holder of any Bond to receive payment of the principal of and premium, if any, and interest on such Bond on or after the respective due dates therein expressed, or to institute suit for the recovery of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such holder. ARTICLE VIII. Defeasance Payment Release • Sec. 8.01. If, when the Bonds secured hereby shall have become due and payable in accordance with their terms or shall have. been duly called for redemption or irrevocable instructions to call the Bonds for redemption shall have been given by the Authority to the Trustee, the whole amount of the principal and the interest and the premium, if any, so due and payable upon all of the Bonds then outstanding shall be paid or (i) sufficient moneys, or (ii) direct obligations of, or obligations the principal of any interest on which are unconditionally guaranteed by, the United States of America the principal of and the interest on which when due will provide sufficient moneys, or (iii) time certificates of deposit fully secured as to both principal and interest by obligations of the kind described in (ii) above of a bank or banks the principal of and interest on which when due will provide sufficient moneys, or (iv) any combination of (i), (ii) or (iii) above which will provide sufficient moneys, shall be held by the Trustee for such purpose under the provisions of this Agreement, and provision shall also be made for paying all Trustee's fees and expenses and other sums payable hereunder by the Authority, then and in that case the right, title and interest of the Trustee shall thereupon cease, determine and become void. -35- Upon any such termination of the Trustee's title, on demand of the Authority, the Trustee shall release this Agreement and . shall execute such documents to evidence such release as may be reasonably required by the Authority, and shall turn over to the Authority or to such officer, board or body as may then be entitled by law to receive the same any surplus in the Sinking Fund created by Sec. 3.02 hereof and in the Operation Fund created by Sec. 3.03 hereof and all balances remaining in any other fund or accounts other than moneys and obligations held for the redemption or payment of Bonds; provided, however, that in the event direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America or time certificates of deposits shall be deposited with and held by the Trustee as hereinabove provided, in addition to the requirements set forth in Article IV of this Agreement, the Trustee shall within thirty (30) days after such obligations or time certificates of deposits shall have been deposited with it, cause a notice signed by the Trustee to be published once in the Bond Buyer, in the City of New York, New York, or, if the Bond Buyer is not published, then in a newspaper or financial journal published, and of general circulation in the City of New York, New York, or the City of Chicago, Illinois, setting forth (a) the date designated for the redemption of the Bonds, (b) a description of the obligations so held by it, and (c) that this Agreement has been released in accordance with the provisions of this Section. All moneys, and obligations and time certificates of deposit held by the Trustee pursuant to this Section shall be held in trust • and said moneys and the principal and interest of said obligations and time certificates of deposit when received, applied to the payment, when due, of the principal and the interest and the premium, if any, of the Bonds so called for redemption. Sec. 8.02. Any Bond not presented at the proper time and place for payment shall, within the meaning of this Agreement, be deemed to be fully paid when due if the money necessary to discharge the principal amount thereof and all interest then accrued and unpaid thereon (and the premium required in case of redemption before maturity) is held by the Trustee when or before the same become due. The holder of any such Bond shall not be entitled to any interest thereon after the maturity thereof nor to any interest upon money so held by the Trustee. -36- ARTICLE ZX. Concerning the Trustee Sec. 9.01. The Trustee hereby accepts the trusts of this Agreement upon the following terms and conditions, to which the parties and the registered holders of said Bonds agree: (a) After completion of construction of the Project, the Trustee shall annually prepare a financial report covering disburss~eethereundereandsshall lfurnishs a copy to therAuthoridyby the Tru (b) The Trustee shall be under no obligation to see to any filing or recording of this Agreement or any agreement supplemental hereto, and may authenticate and deliver the Bonds in accordance with the provisions hereof prior to any filing or recording of this Agreement. (c) The Trustee shall be the lexec tione of the tru tsnhereby for all services rendered in created, and may employ agents, attorneys and counsel in the execution of such trusts; and the compensation of-the Trustee, as well as the reasonable compensation of its attorneys and counsel and of such persons as it may employ in the administration or management of the trusts hereunder, and all other reasonable expenses necessarily incurred or actually disbursed hereunder, the Authority agrees to pay to the Trustee on demand, and for such payment the Trustee shall have a lien on all funds in the hands of the Trustee not held in trust for any specific purpose in priority to the rights and claims of the holders of said Bonds. (d) The Trustee shall not be responsible in any manner for: (1) the validity, execution, acknowledgment, filing or recording of this Agreement or any agreement supplemental hereto, or the refiling or rerecording thereof; (2) for any recitals, covenants or agreements of the Authority in the Bonds or herein contained, except to pay from the Operation and Reserve Fund expenses incurred by the Authority to enable it to comply with its covenants contained herein; (3) for the default or misconduct of any agent or employee appointed by it, if such agent or employee shall have been selected with reasonable care, or for anything done by it in connection with this trust, except for its willful misconduct or gross negligence; -37- (4) for the consequence of any act done in good .faith; or (5) for any actions taken by the Trustee in accordance with the opinion of counsel employed by the Trustee. (e) The Trustee shall be under no obligation to keep advised or informed as to whether the Authority is in default under any of the .terms or covenants of this Agreement; and unless and until the Trustee shall have received written notice to the contrary from the holders of at least five percent (5%) in principal amount of the Bonds then outstanding hereunder, the Trustee may, for all purposes of this Agreement, assume that the Authority is not in default hereunder and that none of the events hereinbefore defined as "events of default" has happened. (f) The Trustee shall not be required to appear in or defend any suit which may. be brought against it respecting the Project, or by reason of being Trustee hereunder, or to institute any suit or proceeding to enforce any covenant or remedy herein provided, or to take any action toward the execution or enforcement of the trusts hereby created, which, in the opinion of the Trustee, will be likely to involve the Trustee in expense or liability, unless the holders of said Bonds or some part thereof shall furnish the Trustee with reasonable security and indemnity against such expense or liability. (g) The Trustee shall be fully protected in acting upon or in accordance with any notice or request, consent, certificate, demand, resolution or other instrument or document believed by the Trustee to be genuine and to have been signed, authorized, executed, certified or sealed by the proper person or persons; and the Trustee is authorized to accept the certificate of the Secretary-Treasurer of the Authority, under its corporate seal, if any, to any resolution of the board of directors of the Authority as conclusive evidence that such resolution was duly and lawfully adopted and is binding upon the Authority. (h) The Trustee, or any officer or director of the Trustee, may acquire and hold Bonds issued hereunder or may engage in or be interested in any financial or other transaction in which the Authority may be interested, and the Trustee may be depository, trustee, transfer agent, registrar or agent of the Authority, or for any committee or other body in respect to the bonds, notes, debentures, obligations or securities of the Authority, whether or not issued pursuant hereto. (i) The Trustee may, in relation to any powers or duties imposed upon it by this Agreement, act upon the opinion or advice of an attorney, surveyor, engineer or accountant, whether retained -38- by the Trustee or by the Authority, and shall not be responsible for any loss resulting from any action or non-action in accordance with any such opinion or advice. (j) The Trustee is relieved from filing any inventory, or qualifying under the jurisdiction of any court, or otherwise complying with the provisions of the Uniform Trustees' Accounting Act of 1945, or with any laws amendatory thereof or supplemental thereto, and the provisions of said law are hereby waived. Sec. 9.02. The Trustee. agrees to invest funds (subject to Sec. 5.14 hereof) from time to time held by it as Trustee under this Agreement, and apply the interest earned thereon as provided in Article III, but shall not be under any duty or obligation to pay interest on any funds held by it which cannot practicably be so invested either to the Authority or to the holder of any Bond, or to any other person; any and all such liability for the payment of such interest being hereby expressly waived. Sec. 9.03. In the event that the Trustee, or any successor trustee, .shall become legally consolidated or merge with another banking association or corporation, the banking association or corporation resulting from such consolidation or merger shall thereupon become and be the Trustee hereunder with the same titles, rights, powers, benefits, duties and limitations, without the execution or filing or recording of any instrument, and without any action on the part of the Authority or the holders of Bonds hereunder. A purchase of the assets and assumption of the liabilities of the Trustee by another banking association or corporation shall be deemed to be consolidation or merger for the purposes of this section. Sec. 9.04. The Trustee, or any successor trustee, may be removed at any time by an instrument or concurrent instruments in writing filed with the Trustee and signed by the holders of a majority in principal amount of the Bonds then outstanding hereunder, or by their attorneys-in-fact thereunto duly authorized. Sec. 9.05. The Trustee, or any successor trustee, may resign the trust created by this Agreement upon first giving notice of such proposed resignation and specifying the date when such resignation shall take effect, which notice shall be given to the Authority in writing at least twenty (20) days prior to the date when such resignation shall take effect, and shall be given to the Bondholders by mail at least twenty (20) days prior to the date when such resignation shall take effect. Such resignation shall take effect on the day so designated in such notice, unless previously a successor trustee shall be appointed as hereinafter provided, in which event such resignation shall take effect immediately upon the appointment of such successor trustee. . -39- Sec. 9.06.. In case at any time the Trustee shall become incapable of acting, or shall be removed, a successor trustee may be appointed by the holders of at least a majority in principal amount of the Bonds hereby secured and then outstanding, by an instrument or instruments in writing signed by such Bondholders or but until a new by their duly constituted attorneys-in-fact; trustee shall be so appointed by the Bondholders, the Authority, by an instrument executed by order of its board of directors, may appoint a trustee to fill such vacancy until a new trustee shall be appointed by the Bondholders as aforesaid, and when any such new trustee shall be appointed by the Bondholders, any trustee theretofore appointed by the Authority shall thereupon and thereby be superseded and retired. Each such successor trustee appointed by any of such methods shall be a bank or trust company authorized by law so to act, and having a capital and surplus of not less than Five Million Dollars ($5,000,000). Sec. 9.07. Any successor trustee appointed hereunder. shall execute, .acknowledge and deliver to the Authority, and. to its predecessor, an instrument accepting such appointment; and thereupon, upon the execution of the same, such successor trustee, without any further act or instruments or deeds of conveyance, shall become vested with all of the assets, powers, rights, duties, trusts and obligations of its predecessor in trust hereunder with like effect as if originally named as trustee herein; but nevertheless, on the written request of the successor trustee, the . trustee ceasing to act shall execute and deliver to such successor trustee all conveyances and instruments proper to evidence the vesting in the new trustee of the interest and title of the retiring trustee in the trusts hereby created, subject, however, to any lien which the retiring trustee may have pursuant to any provision hereof; and upon request in writing of any successor trustee, the Authority covenants to make, execute, acknowledge and deliver any and all deeds, conveyances, assignments, or instruments in writing for the more fully and certainly vesting in and confirming to such successor trustee all such assets, property, rights, powers and trusts. ARTICLE X. Supplemental Agreements Sec. 10.01. Without notice to or the consent of any Bondholders, the Authority and the Trustee may, from time to time and at any time, enter into such agreements supplemental hereto as shall not be inconsistent with the terms and provisions hereof (which supplemental agreements shall thereafter form a part hereof): -40- (a) To cure any ambiguity or formal defect or omission in this Agreement, or in any supplemental agreement, which does not adversely affect the rights of the Bondholders; (b) to grant to or confer upon the Trustee, for the benefit of the Bondholders, any additional benefits, rights, remedies, powers, authority or security that may lawfully be granted to or conferred upon the Bondholders or the Trustee, or to make any change which in the judgment of the Trustee, is not to the prejudice of the Bondholders; (c) to modify, amend or supplement this Agreement to permit the qualification of the Bonds for sale under the securities laws of the United States of America or of any of the states of the United States of America or to obtain or maintain bond insurance with respect to payments of .principal of and interest on the Bonds; (d) to provide for the refunding or advance refunding of the Bonds in whole or in part; (e) to procure or maintain a rating on the Bonds from a nationally recognized securities rating agency designated in such supplemental agreement, if such supplemental agreement will not adversely affect the owners of the Bonds; and (f) any other purpose which in the judgment of the Trustee does not adversely impact the interest of the Bondholders. Sec. 10.02. Subject to the terms and provisions contained in this section, and not otherwise, the holders of not less than sixty-six and two-thirds percent (66-2/30) in aggregate principal amount of the Bonds then outstanding shall have the right from time to time, anything contained in this Agreement to the contrary notwithstanding, to consent to and approve the execution by the Authority and .the Trustee of such agreement or agreements supplemental hereto as shall be deemed necessary or desirable by the Authority for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Agreement or in any supplemental agreement; provided, however, that nothing herein contained shall permit or be construed as permitting: (a) an extension of the maturity of the principal or interest on any Bond issued hereunder; or (b) a reduction in the principal amount of any Bond or the redemption premium or the rate of interest thereon; or -41- i (c) a preference or priority of any Bond or Bonds over any other Bond or Bonds; or (d) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental agreement. Nothing herein contained, however, shall be construed as making necessary the approval by the Bondholders of the execution of any supplemental agreement or agreements as authorized in Section 10.01 of this Article. If at any time the Authority shall request the Trustee to enter into any supplemental agreement for any of the purposes of this section, the Trustee shall, at the expense of the Authority, give notice by first-class mail, postage prepaid, to all registered owners of Bonds. Such notice shall briefly set forth the nature of the proposed supplemental agreement and shall state that a copy thereof is on file at the office of the Trustee for inspection by all Bondholders. The Trustee shall not, however, be subject to any liability to any Bondholder by reason of its failure to mail the notice required by this section, and any such failure shall not affect the validity of such supplemental agreement when consented to and approved as provided in this section. Whenever, at any time within one (1) year after mailing of such notice, the Authority shall deliver to the Trustee an instrument or instruments purporting to be executed by the holders of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the Bonds then outstanding, which instrument or instruments shall refer to the proposed supplemental agreement described in such notice and shall specifically consent to and approve the execution thereof in substantially the form of the copy thereof referred to in such notice as on file with the Trustee; thereupon, but not otherwise, the Trustee may execute such supplemental agreement in substantially such form, without liability or responsibility to any holder of any Bond, whether or not such holder shall have consented thereto. If the holders of not less than sixty-six and two-thirds percent (66-2/3%) in aggregate principal amount of the Bonds outstanding at the time of the execution of such supplemental agreement shall have consented to and approved the execution thereof as herein provided, no holder of any Bond shall have any right to object to the execution of such supplemental agreement or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. . -42- Upon the execution of any supplemental agreement pursuant to the provisions of this section, this Agreement shall be, and shall be deemed., modified and amended in accordance therewith, and the respective rights, duties and obligations under this Agreement of the Authority, the Trustee, and all holders of Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments. Sec. 10.03. The Trustee is authorized to join with the Authority in the execution of any such supplemental agreement and to make the further agreements and stipulations which may be contained therein. Any supplemental agreement executed in accordance with the provisions of this Article shall thereafter form a part of this Agreement, and all the terms and conditions contained in any such supplemental agreement as to any provision authorized to be contained therein shall be, and shall be deemed to be,-part of the terms and conditions of this Agreement for any and all purposes. Sec. 10.04. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, the opinion of any .counsel approved by it who .may be counsel for the Authority, as conclusive evidence that any such proposed supplemental agreement complies with the provisions of this Agreement, and that it is proper for the Trustee, under the provisions of this Article, to join in the execution of such supplemental agreement. • Sec. 10.05. Notwithstanding anything contained in the foregoing provisions of this Agreement., the rights and obligations of the Authority and of the holders of the Bonds, and the terms and provisions of the Bonds and this Agreement, or any supplemental agreement, may be modified or altered in any respect with the consent of the Authority and the consent of the holders of all the Bonds then outstanding. ARTICLE XI. Miscellaneous Provisions Sec. 11.01. Any covenant of the Authority set forth in this Agreement may be waived or modified in whole or in part with the written consent of the Authority and the Trustee without the necessity of obtaining the consent of the Bondholders and without the execution and delivery of a supplemental agreement. Sec. 11.02. Any notice or demand which by any provision of this Agreement is required or permitted to be .given or served by the Trustee on the Authority shall be deemed to have been -43- • sufficiently given or served for all purposes, by being deposited, postage prepaid, in a United States Post Office letter box, addressed (until another address is filed in writing by the Authority with the Trustee for that purpose) as follows: South Bend Redevelopment Authority 1200 County-City Building 227 West Jefferson Boulevard South Bend, Indiana 46601 Any notice or demand which by any provision of this Agreement is required or permitted to be given or served by the Authority on the Trustee shall be deemed to have been sufficiently given or served for all purposes, by being deposited, postage prepaid, in a United States Post Office letter box, addressed (until another address is filed in writing by the Trustee with the Authority for that purpose) as follows: First Interstate Bank of Northern Indiana, N.A. 112 West Jefferson Boulevard Post Office Box 1512 South Bend, Indiana 46634 Sec. 11.03. In any case where the date of payment of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be in the city of payment a Saturday, Sunday or a legal holiday or a day on which banking institutions • are authorized by law to close, then payment of interest or principal or the redemption price may be made on the succeeding business day with the same force and effect as if made on the established date of payment of interest or principal or the date fixed for redemption. Sec. 11.04. This Agreement may be simultaneously executed in several counterparts, each of which shall be an original, and all of which shall constitute but one and the same instrument. Sec.. 11.05. With the exception of rights herein expressly conferred, nothing expressed or mentioned in or to be implied from this Agreement or the Bonds is intended or shall be construed to give to any person or company. other than the parties hereto and the Bondholders, any legal or equitable right, remedy or claim under or in respect to this Agreement, or any covenants, conditions and provisions herein contained; this Agreement and all of the covenants, conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the parties hereto and the owners of the Bonds as herein provided. Sec. 11.06. If any provisions of this Agreement shall be held or deemed to be or shall, in fact, be illegal, inoperative or -44- • unenforceable, the same shall not affect any other provision or provisions herein contained or render the same invalid, inoperative or unenforceable to any extent whatever. Sec. 11.07. No member, officer or employee of the Authority or of any department or board thereof, shall be individually or personally liable for the payment of the principal of or interest or redemption premium on any Bond. Nothing herein contained shall, however, relieve any such member, officer or employee from the performance of any duty provided or required by law. Sec.. 11.08. This Agreement shall be construed and enforced in accordance with the laws of the State of Indiana. Seca 11.09. The headings or titles of the several Articles and Sections hereof, and any table of contents appended to copies, hereof, shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or effect of this Agreement. Sec. 11.10. The provisions of this Agreement shall constitute a contract between the Authority and the holders of the Bonds, and after the issuance of any Bonds no change or alteration of any kind in the provisions of this Agreement may be made until all of the Bonds have been paid in full as to both principal and interest, or provision for such payment has been made in accordance with Article VIII hereof, except in accordance with Article X hereof. IN WITNESS WHEREOF, SOUTH BEND REDEVELOPMENT AUTHORITY has caused its corporate name to be hereunto subscribed by the President of its Board of Directors, and attested by the Secretary-Treasurer of its Board of Directors, and First Interstate Bank of Northern Indiana, N.A., as Trustee, has likewise caused these presents to be executed in said Trustee's name and behalf by its Vice President and Trust Officer, and its corporate seal -45- Assistant to be hereunto affixed and attested by its Vice President and Trust Officer in token of its acceptance of said trust, as of the day and year first hereinabove written. U ( SEAL) ATTEST: SOUTH BEND REDEVELOPMENT AUTHORITY By: (Written Signature) +- J ~.~ o s E'- P ~ (Xl CL®~ ~ ~ i,~Js fCr (Printed Signature) President, Board of Directors FIRST INTERSTATE BANK OF NORTHERN INDI NA, N.A., By: (Writes en Signature) (Printed ~ mature) /~~ .~~ S/BEN ~( LtsT~f%`/Ct=~ (Title) ( ritten Signat e) ~p,r~ ~~~~ ~Y1 4~US P int d Sign to ) ~" 0.n~,U rL.Q~'~~t' ,1.~ ~Z (Title) -46- (Printed Signature) Secretary-Treasurer, Board of Directors STATE OF INDIANA ST. JOSEPH COUNTY SS: Before me, the undersigned, a Notary Public in and for said State, .personally appeared Joseph Wroblewski and George McCullough, personally known to me to be the President and Secretary-Treasurer, respectively, of the Board of Directors of the South Bend Redevelopment Authority, and acknowledged the execution of the foregoing Agreement for and on behalf of said .Authority on this oZ~/r~day of ~~ 1trJ z_ 1990. Witness my hand and notarial seal. (Written Signature) (SEAL) (Printed Signature) Notary Public My Commission Expires:February 8, 1994 My County of Residence is St. Joseph i STATE OF INDIANA ) 1 SS: ST. JOSEPH COUNTY .Before me, the undersigned, a Notary Public in and for said State, personally appeared Warren Ransom and Mary Sonneborn Hugus, personally known to me to be the Vice President/Trust Officer and Assistant Vice President/Trust Officer, respectively, of First Interstate Bank of Northern Indiana, N.A., and acknowledged the execution of~he foregoing Agreement for and on behalf of said Bank on this~~ day of ~~'u J~Z~2~. , 1990. Witness my hand and notarial s 1. (Written Signature) (SEAL) (Printed Signature) Notary Public My Commission Expires:February 8, 1994 My County of Residence is St. Joseph This instrument was prepared by Richard L. Hill, BAKER & DANIELS, 205 West Jefferson Boulevard, South Bend, Indiana 46601. r: -47- \r1hi11\sthbnd\t if-90\trust.agr;dsL;April 19, 1990; I• EXHIBIT A PROJECT DESCRIPTIONS The Project consists of the following: (1) The construction of Niles Avenue Parking and Landscaping Improvements (Phase IV) in the City of South Bend consisting of the reconstruction and partial widening of a portion of Niles Avenue for a total distance of approximately 1,300 linear feet and. the construction of .new curbs, walks and traffic islands along with on-street and off-street public parking areas, trees, lighting, drainage, striping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at a point on the West right-of-way line of • Niles Avenue, one hundred thirty-two (132) feet South of the South right-of-way line extended of Washington Street continuing North along said West right-of-way line to a point one hundred sixty-five (165) feet North of the North right-of-way line of LaSalle Avenue, thence East a distance of sixty six (66) feet to a point along the East right-of-way line of Niles Avenue one hundred sixty-five (165) feet North of the North right-of-way line of LaSalle Avenue, thence South along said East right-of-way line to a point one hundred thirty two (132) feet South of the South right-of-way line of Washington Street, thence West a distance of sixty-six (66) feet back to the starting point. and The following as described as being in the West half of the Northeast Quarter, Section Twelve (12), Township Thirty-Seven (37) North; Range Two (2) East, in Cottrell's Addition, City of South Bend, St. Joseph County, Indiana: Commencing at the northeast corner of Part Lot 5; thence due south for 131.79 feet; thence west for 60 feet; thence due north to the south right-of-way line of Washington Street vacated for 132.27 feet; thence east for 70 feet back to the point of beginning. (2) The construction of Madison Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Madison Street for a total distance of approximately 335 linear feet and the construction of new curbs, gutters, parking areas, walks, and the addition of trees, lighting, drainage, striping and appurtenant work, such construction .and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at a point along the North right-of-way line of Madison Street, four hundred sixty-seven (467) feet West of the point of intersection of said North right-of-way line and the West right-of-way line of Niles Avenue, thence East along said North right-of-way line to said point of intersection; thence South along said West right-of-way line a distance of eighty two and one-half (82.5) feet to the point of intersection with the South right-of-way line of Madison Street; thence West along said South right-of-way line a distance of four hundred sixty-two (462) feet to a point; thence Northwesterly along a line a distance of sixty two (62) feet, more or less back to the starting point. (3) The construction of Washington Street Parking and Landscaping Improvements consisting of the reconstruction and partial widening of a portion of Washington Street for a total distance of approximately 320 linear feet including rehabilitating and relaying the existing brick roadway and the. construction of new concrete curbs, gutters, parking areas, walks, traffic islands and addition of trees, lighting, drainage, striping and appurtenant work, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Starting at the point along the North right-of-way of Washington Street extended, 14 feet West of the intersection of the East right-of-way line of Niles Avenue and the North right-of-way line of Washington . Street, thence East along said North right-of-way line a distance of 373 feet to a point 14 feet East of the point of intersection with the West right-of-way line of Hill Street, thence South parallel to said West right-of-way line a distance of eighty two and one-half (82.5) feet to the point of intersection with the South right-of-way line of Washington Street extended, thence West along said South right-of-way line to a point 14 feet West of the point of intersection with said East right-of-way line of Niles Avenue; thence North parallel to said East right-of-way line back to the starting point. li (4) The construction and installation of the Riverbank Lighting Project consisting of the installation and improvement of approximately 36 light fixtures, poles and bases situated along a public pathway of approximately 4,560 feet on the western river bank of the St. Joseph River extending from the LaSalle Avenue Bridge to approximately Monroe Street, including the installation of conduits, wires, conductors, electric panels and kiosks necessary for the completion of the project including trenching, necessary removal of asphalt pavement, concrete, rubble, trees, brush and other obstructions, tree trimming, fill work as required and construction of a concrete path at Pier Park, required brick removal, such construction, installation and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Commencing at the southwest corner of Lot 1 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north, range 2 east; thence west along the north side of Jefferson Boulevard for 290.00 feet to the point- of beginning; thence northwest for 111.26 feet, thence northwest for 129.18 feet, thence northwest for 146.45 feet, thence northwest for 124.87 feet, thence southeast running along the west side of the St. Joseph River for approximately 380.00 feet, also being the north side of Jefferson Boulevard, thence east for 145.00 feet back to the point of beginning; and Commencing at the southeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the northwest corner of Tract 3 in the River Bend Addition and situated in the east half (1/2) of the northwest quarter. (1/4) of section Twelve (12), Township 37 north, range 2 east; thence southeast for 140.00 feet, thence southeast for 250.79 feet, thence due south along the radius for 117.8 feet, thence southeast for 122.42 feet, thence southeast for 134.06 feet, thence northeast for 74.66 feet, thence northwest for 113.4 feet, thence west for r~ 29.7 feet, thence northwest for 17.27 feet, thence northeast for .27.47 feet, thence north for 45.54 feet, thence northwest for 64.38 feet, thence northwest for 38.49 feet, thence southwest for 24.41 feet, thence northwest for 178.5 feet, thence northeast for 10.75 feet, thence northwest for 34.2 feet, thence southwest for 10.75 feet, thence northwest for 57.6 feet, thence north for 83.94 feet, thence west for 95 feet back to the point of beginning; and Commencing at the northeast corner of Madison Street and Lincolnway east, also being the southeast corner of Tract 8 (Key #34-83) in the River Bend Addition and situated in the west half. (1/2) of the southeast quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence 399.68 feet along the East line of said tract to the point of beginning; thence S. 52°07'42" west, 190.00 feet, thence north 46°02'06" west,. 180.00 feet, thence north 65°47'18" west, 460 feet, thence north 38°42'21" west, 236.98 feet, thence north 70°0.6'30" west, 50.00 feet, thence north 04°39'38" west, 40.00 feet, thence north 65°42'29" east, 10.00 feet, thence north 25°39'11" west, 425.12 feet, thence north 25°46'29" west, 232.03 feet, thence north 53°10'13" west, 108.76 feet, thence north 25° 55'32" west, 90.64 feet, thence north 19°47'16" west, 156.66 feet, thence north 87°40'09" east, 94.06 feet, thence south 28°59'50" east, 145.12 feet, thence south 23°06'10" east, 140.73 feet, thence south 26°26'27" east, 149.84 feet thence south 20°04'37" east, 152.26 feet, thence south 22°53'19" east, 167.55 feet, thence south 34°56'19" east, 224.42 feet, thence south 31°26'14" east, 157.37 feet, thence south 45°43'42" east, 161.61 feet, thence south 64°47'26" east, 159.34 feet, thence south 68°04'55" east, 228.93 feet, thence south 76°10'38" east, 234.62 feet back to the point of beginning; and Commencing at the northeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the southeast corner of Lot 91 in the River Bend Addition and situated in the west half (1/2) of the northwest quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence northwest 228.43 feet along the east right-of-way line of St. Joseph Street, thence north 87.18 feet along the east right-of-way line of St. Joseph Street, thence southeast for 108.76 feet, thence southeast for 430.00 feet along the St. Joseph River back to the point of beginning. i~ (5) The construction of Morris Civic Plaza. Improvements consisting of the reconstruction of existing improvements and the construction of new improvements including the partial demolition of the existing plaza, relocation of existing sculpture, the construction and installation of seating areas, irrigation system, lighting, walkways, sculpture bases, planters, the rehabilitation of existing fountain and brick work areas, landscaping, drainage and appurtenant work, such construction and installation and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: Commencing at the Northeast corner of the Michigan Street and Colfax Avenue right-of-ways; thence due North a distance of 264 feet, thence Southwest along the North-South curb on the East side of Michigan Street to the North right-of-way line of Colfax Avenue, a distance of 284 feet; thence due East a distance of 45 feet back to the point of beginning. and A part of the northwest quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: Beginning at the intersection of the East boundary of North Michigan Street and the North boundary of East Colfax Street; thence North 89 degrees 39 minutes 37 seconds East a distance of 244.07 feet; thence North 20 degrees 24 minutes 52 seconds West a distance of 53.52 feet; .thence Northwesterly a distance of 153.59 feet along an arc to the left and having a radius of 243.98 feet and subtended by a long chord having a bearing of North 38 degrees 26 minutes 55 seconds West and a length of 151.07 feet; thence North 56 degrees 28 minutes 59 seconds West a distance of 96.35 feet; thence Northwesterly a distance of 56.94 feet along an • arc to the left and having a radius of 148.28 feet and subtended by a long chord having a bearing of North 69 degrees 59 minutes 03 seconds West and a length of 56.59 feet; thence South 00 degrees 28 minutes 59 seconds East a distance of 242.50 feet to the place of beginning. Said tract contains 39,958 square feet (0.917 Acres), more or less. • (6) The construction of the Howard Park Wall Project consisting of the removal and replacement of the existing wall bordering Howard Park and the St. Joseph River for a distance of approximately 1,000 linear feet including the capping of the foundation of the existing wall, the installation of riprap along the base of the wall and the construction of a new four feet high wall and repair and/or replacement of the walkway along the wall and appurtenant work, such construction and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: Commencing at the northwest corner of Lot 4 in Heck's Addition, also situated in the west half (1/2) of the northeast quarter (1/4) of Section Twelve (12), Township 37 north, Range 2 east; thence southeast along the east side of the St. Joseph River for approximately 1200 feet to the southeast corner of Lot 19, thence north for 20 feet, thence northwest parallel to the east side of the St. Joseph River for approximately 1200 feet, the north line of Lot 4, thence west for 20 feet back to the point of beginning. i~ w (7) The construction of the Rink Riverside Walkway Project consisting of the construction of an eight foot wide concrete and timber walk and its incidental riverbank support system along the top of the eastern bank of the St. Joseph River which will connect the termination point of the existing portion of the Riverbank Trail to the north with the Colfax Avenue sidewalk, a distance of approximately 280 feet to the southeast including the construction of a ground level sidewalk west and north to the southwest corner of the Rink Riverside Building, a distance of approximately 230 linear feet and the construction of a structural wood deck walkway from the southwest corner of the Rink Riverside Building north to the existing wooden deck of the LaSalle-Sycamore Walkway, a distance of approximately 140 feet supported by a system of pilings and piers on the Riverbank and appurtenant work along with the removal of a 100 foot high brick smokestack and such other required related improvements and landscaping, such construction and related improvements to be made to the following described real estate acquired or to be acquired by the Authority: That part of the Northwest quarter of Section 12, Township 37 North, Range 2 East and that part of Lots 7, 8 and 9 in the Original Plat of the Town of Lowell, now a part of the City of South Bend as recorded in the records of St. Joseph County, Indiana, which is described as: Beginning at the point of intersection of the north line of Colfax Avenue and the west line of Sycamore Street; thence west (assumed bearing) along a line 10 feet north and parallel to the northerly line of Colfax • Avenue, a distance of 100 feet; thence northwesterly along a line of 10 feet, more or less, easterly of the easterly bank of the St. Joseph River, a distance of 89 feet; thence west along a projected line perpendicular with the St. Joseph River, a distance of 5 feet; thence northwesterly along a parallel line of 5 feet easterly of the easterly bank of the St. Joseph River, a distance of 40 feet, more or less; thence east along a line perpendicular with the St. Joseph River, a distance of 10 feet; thence northwesterly along a parallel line 15 feet more or less easterly of the easterly bank of the St. Joseph River, a distance of 11 feet, more or less; thence west 10 feet along aline perpendicular to the St. Joseph .River; thence northwesterly. to a point on the north lot line of Lot 7, a distance of 10 feet, more or less, east of the easterly bank of the St. Joseph River; thence west (assumed bearing) along said north lot line a distance of 10 feet, more or less, to the easterly bank of the St. Joseph River; thence southeasterly along said easterly bank to the projected north line of Colfax Avenue; thence east along said north line and its projection back to the point of beginning. ~~, (8) The construction of the Viewing Park Project consisting of the continuation of the existing 8 foot walkway along the eastern Riverbank to connect into the sidewalk along Sample Street for a total linear distance of approximately 2700 feet and the improvement and paving of the driveways and parking. areas in Viewing Park, incidential required lighing, landscaping and appurtenant work, all of such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: The Southeast Quarter of Section Twelve (12), Township Thirty-seven (37) North, Range two (2) East, City of South Bend, St. Joseph County, Indiana. Beginning at the Southeast corner of Lot 213 of Heck's Addition and the easterly .edge of the waters of the St. Joseph River; thence meandering Southeasterly and South- along said Easterly water's edge to the point of intersection with the North right-of-way line of Sample Street projected; thence Northeast along said projected North right-of-way line of Sample Street to the West right-of-way line of Northside Boulevard; thence Northwesterly and North along said West right-of-way line of Northside Boulevard to the East lot line of Lot 213 of Heck's Addition; thence South along said East lot line a distance of fifteen (15) feet, more or less, back to the point of beginning. The total area of the project site is approximately 6 acres. (9) The construction of Central Business District Curbs and Sidewalk Improvements consisting of replacement and reconstruction of designated curbs and sidewalks in the City of South Bend as follows: i~ (a) The sidewalk section located in front of the City parking lot on Lafayette Street containing 825 sq. ft. of area and a curb section of 55 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City parking lot: Commencing at the southeast corner of lot 393; thence south for 55 feet, thence east for 15 feet, thence north for 55 feet, thence west for 15 feet back to the point of beginning. • i (b) The .sidewalk section located at 228 Lafayette Street containing 600 sq. ft. of area and a curb section of 40 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence west for 15 feet, thence north for 40 feet, thence east for 15 feet, thence south for 40 feet back to the point of beginning. r~ i (c) The sidewalk section located at 228 Lafayette Street containing 795 sq. ft. of area and a curb section of 53 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 228 Lafayette: Commencing at the southwest corner of Lot 244; thence north 65 .feet to the .point of beginning; thence west for 15 feet; thence north for 53 feet, thence east for 15 feet, thence south for 53 feet, back to the point of beginning. ~~ i .,. (d) The sidewalk section located at the City approach on Lafayette Street between the Valley American Bank property and the Bath Building property containing 210 sq. ft. of area, such construction. and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City Approach: Commencing at the southwest corner of Lot .244; thence south for 14 feet; thence west for 15 feet, thence north for 14-feet, thence east for 15 feet back to the point of beginning. i ~~ (e) The sidewalk section located at 312 West Colfax Avenue containing 1,235 sq. ft. of area and a curb section of 35 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 312 West Colfax: Commencing at the northwest corner of Lot 385; thence north for 19 feet, thence east for 65 feet, thence south for 19 feet, thence west for. 65 feet back to the point of beginning. ,~ i~ (f) The sidewalk section located at 135 North Lafayette Street containing 1,900 sq. ft. of area and a curb section of 100 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: 135 N. Lafayette: Commencing at the northeast corner of Lot 385; thence south for 19 feet, thence west for 100 feet, thence north for 19 feet, thence east for 100 feet back to the point of beginning. i~ (g) The sidewalk section located at the Colfax Theatre sidewalk containing 532 sq. ft. of area and a curb section of 38 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Colfax Theater: Commencing at the southwest corner of Lot 228; thence south for 14 feet, thence east for 38 feet, thence north for 14 feet, thence west for 38 feet back to the point of beginning. i~ (h) The sidewalk section located at the Christman Building starting on Colfax and continuing north on Main Street containing 4,986 sq. ft. of area and a curb section of 356 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Christman Building: Commencing at the southeast corner of Lot 228; thence west for 144 feet, thence north for 14 feet, thence east for 129 feet, thence north for 198 feet, thence east for 15 feet, thence south for. 212 feet back to the point of beginning. 1 t~ i, (i) The sidewalk section located at the. South Bend Parking Lot on Main Street starting at the southeast corner of Lot 225 containing 5,490 sq. ft. of area and a curb section of 378 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Park & Lock Parking Lot: Commencing at the southeast corner of Lot 225; thence north for 198 feet, thence west for 165 feet, thence north for 14 feet, thence east for 180 feet, thence south for 212 feet, thence west for 15 feet back to the point of beginning. I~ ~~ (j) The sidewalk section located at the City approach commencing at the northeast corner of Lot 226 on Main Street containing 210 sq. ft. of area, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: City Approach: Commencing at the northeast corner of Lot 226; thence north for 14 feet, thence east for 15 feet, thence south for 14 feet, thence west for 15 feet back to the point of beginning. (k) The sidewalk section located at 1.13 East Washington Street containing 675 sq. ft. of area and a curb section of 45 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Business Systems-113 E. Washington: Commencing at the southwest corner of .Lot 18; thence west for 5 feet, thence south for 15 feet, thence east for 45 feet, thence north for 15 feet, thence west for 40 feet back to the point of beginning. (1) The sidewalk section located at 101 North Michigan Street containing 1,170 sq, ft. of area and a curb section of 78 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Fanny Mae's - 101 N. Michigan: Commencing at the southeast corner of Lot 18, thence west for 78 feet, thence south for 15 feet, thence east for 78 feet, thence north for 15 feet back to the point of beginning. • • • (m) The sidewalk section located at 125 West Colfax Avenue containing 272 sq. ft. of area and a curb section of 16 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Summit Bank - 125 W. Colfax: Commencing at the southwest corner of Lot 7; thence west for 17 feet, thence south for 16 feet, thence east for 17 feet, thence north for 16 feet back to the point of beginning. \J • (n) The sidewalk section located at the southeast corner of Lafayette Street and Jefferson Boulevard containing 2,920 sq. ft. of area and a curb section of 198 linear feet, such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: Trigon Building - Corner of Lafayette and Jefferson: Commencing at the Northwest corner of Lot 270; thence East for 82.5 feet, thence North for 15 feet, thence West for 99.5 feet, thence South for 99 feet, thence east for 17 feet; thence north for 84 feet back to the point of beginning. • • 10. The acquisition by purchase or condemnation of vacant parcels of real estate in the City of South Bend needed for redevelopment purposes, the location and legal descriptions of said parcels being as follows: C~ (a) 417 East South Street • LEGAL DESCRIPTION A parcel of land in the East Half of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, .Portage Township, St. Joseph County, Indiana, being the West 35.00 feet of Lot 4 of Jodan's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot 1 in Jodon's Subdivision, also being the South right-of-way line of an 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 165.00 feet along said West right-of-way line; thence South 89°42'43" West, 97.16 feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet to the North right-of-way line of South Street; thence South 89°42'43" West, 34.84 feet along said North right-of-way line to the East right-of-way line of an 11.00 foot alley; thence North 00°00'03" East, 55.09 feet along said East right-of-way line; thence North 89°42'40" East, 34.84 feet to the Point of Beginning and containing 0.0441 acres, more or less, and is subject to all easements, restrictions and or covenants of record. . (b) 509 South Rush Street LEGAL DESCRIPTION A parcel of land in the West half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the South part of Lot 17 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley and the south right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said South right-of-way line; thence- South 00°01'28" East, 103.30 feet to the Point of Beginning; thence North 89°38'43" East, 54.95 feet to the West right-of-way line of Rush Street; thence South 00°01'54" East, • 63.00 feet along said West right-of-way line to the North right-of-way .line of a 12.50 foot alley; thence South 89°41'40" West, 54.96 feet along said North right-of-way line; thence North 00°01'28" West, 62.96 feet to the Point of Beginning and containing 0.0795 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (c) 520 South Fellows Street • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the Northerly 29.00 feet of Lot 2 of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the east Right-of-way line of Fellows .Street; thence South 00°00'00" West (bearing assumed), 38.00 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 29.00 feet; thence South 89°41'40" West, 55.00 feet to the East • right-of-way line of Fellows Street; thence North 00°00'00" East, 29.00 feet along said East right-of-way line to the Point of Beginning and containing 0.0366 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • • (d) 522 South Fellows Street LEGAL DESCRIPTION A parcel of land in the West Half o the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the middle 33.00 feet of Lot 2 of John Rush's 1st Addition as recorded in Book 2, Page 53 of the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 2, also being the intersection of the South right-of-way line of Monroe Street and the East right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 67.00 feet along said East right-of-way line to the Point of Beginning; thence North • 89°41'40" East, 55.00 feet; thence South 00°00'00" West, 33.00 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 33.00 feet along said East right-of-way line to the Point of Beginning and containing 0.0417 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • • (e) 618 South Columbia Street LEGAL DESCRIPTION A parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being apart of Lot 8 of Birdsell Mfg. Co. Subdivision as recorded in Book 1, Page 48 at the St. Joseph County Recorder's office in South Bend, Indiana and described as follows: Commencing at an iron on the Northwest corner of Lot 9 in Birdsell Mfg. Co.'s Subdivision and also being on the East right-of-way line of Columbia Street; thence South 00°00'05" West (bearing assumed), 47.00 feet along said East right-of-way line to the Point of Beginning; thence North 88°21'17" East, 134.70 • feet to the west right-of-way line of a 10.00 foot alley; thence South 00°00'05" West, 40.00 feet along said West right-of-way line; thence South 88°21'17" West, 134.70 feet to the East right-of-way line of Columbia Street; thence North 00°00'05" East, 40.00 feet along said East right-of-way line to the Point of Beginning, and containing 0.1237 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (f) 516 South Rush Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots 11 and 12 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the. Northwest corner of Lot 11, also being the intersection of the North right-of-way line of a 12.50 foot alley and the East right-of-way line of Rush Street; thence South 00°01'54" East (bearing assumed), 29.50 feet along said East right-of-way line to the Point of Beginning; thence North 89°40'41" East, 110.00 feet; thence South 00°01'54" East, 30.50 feet; thence South 89°40'41" West, 110.00 feet to the East right-of-way line of Rush Street; thence North 00°01'54"West, 30.50 feet along said East right-of-way line to the Point of Beginning, and containing 0.0770 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (g) 630 Lincolnway East LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 21 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet; thence North 89°41'40" East, 73.79 feet to the Point of Beginning; thence continuing North 89°41'40" East, 80.09 feet to the Southwesterly right-of-way line of Lincolnway; Thence South 37°21'40" East, 40.66 feet along said Southwesterly right-of-way line; thence South 89°41'40" West, 92.75 feet; thence South 00°01'54" East, 39.03 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 12.00 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning, and containing 0.0796 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • . (h) 525 South Fellows Street LEGAL DESCRIPTION A parcel of land in the East Half of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indi ana, being Lot 1 of Jodan's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorde r's office in South Bend, Indiana, and described as follows: Beginning at an iron on the Northeast corner of Lot 1 in said Jodon's Subdivision, also being the South right-of-way line of an 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°00'00" West (bearing assumed), 55.00 feet along said West right-of-way line; thence South 89°37'23" West, 132.00 feet to the East right-of-way line of an 11.00 foot alley; thence North 00°00'03" East, 55.00 feet along said East right-of-way line to the South right-of-way line of an 11.00 foot alley; thence North 89°37'23" East, 132.00 feet along said South right-of-way line to the Point of Beginning, and containing 0.1667 acres, more or less, and is subject to all easements, restrictions and or covenants of record. 11. The. acquisition by .purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes, the payment of expenses that the Redevelopment Commission is required or permitted to pay under IC 8-13-18.5 and the clearance of said parcels of real estate, the locations and legal descriptions of said parcels being as follows: r • (a) 530 South Fellows Street • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the middle 45.64 feet of Lot 5 of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot 5, also being the South right-of-way line of a 12.50-foot alley and the East right-of-way line of Fellows Street; thence South 00°00'00" West, 30.86 feet along said East right-of-way line to the Point of Beginning; thence North 89°41'40" East, 55.00 feet; thence • South 00°00'00" West, 45.64 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East 45.64 feet along said East right-of-way line to the Point of Beginning, and containing 0.0576 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (b) 528 South Fellows Street LJ LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, .also being the Northern 30.86 feet of Lot 5 of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron on the Northwest corner of Lot 5, also being the intersection of the East right-of-way line of Fellows Street and the south right-of-way of a 12.50 foot alley; thence North . 89°41'40" East (bearing assumed), 55.00 feet along said South right-of-way line; thence South 00°00'00" East, 30.86 feet; thence South 89°41'40" West, 55.00 feet to the East right of way line of Fellows Street; thence North 00°00'00" East, 30.86 feet along said East right-of-way line to the Point of Beginning, and containing 0.0390 acres, more or less, and is subject to all easements, restrictions and or covenants of record. ~J (c) 505 South Rush Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being the middle part of Lot 17 of John Rush's 1st Addition as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office, in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley and the south right-of-way line of Monroe Street; thence North 89°38'43" East (bearing .assumed), 110.00 feet along said South right-of-way line; thence South 00°01'28" East, 69.30 feet to the Point of Beginning; thence North 89°38'43" East, 54.95 feet to the West right-of-way line of Rush Street; thence South 00°01'54" East, 34.00 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 34.00 feet to the Point of Beginning, and contains 0.0429 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (d) 524 East Monroe Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being the North part of Lot 17 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley, and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 110.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 54.94 feet to the West right-of-way line of Rush Street; thence South 00°01'54" East, 69.30 feet along said West right-of-way line; thence South 89°38'43" West, 54.95 feet; thence North 00°01'28" West, 69.30 feet to the South right-of-way line of Monroe Street and the Point of Beginning, containing 0.0874 acres, more or less, and is subject to all easements, restructions and or covenants of record. C~ (e) 520 East Monroe Street • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being Lot 16 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley, and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°01'28" East, 166.26 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°01'28" West, 166.20 feet to the South right-of-way line of Monroe Street and the Point of Beginning, containing 0.2099 acres, more or less, and is subject to all easements, restrictions, and covenants .of record. (f) 514 East Monroe Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being Lot 15 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 15, also being the East right-of-way line of a 14.00 foot alley and the South right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line; thence South 00°01'28" East, 166.20 feet to the North • right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line to the East right-of-way line of a 14.00 foot alley; thence North 00°01'28" West, 166.15 feet along said East right-of-way line to the South right-of-way line of Monroe Street, also being the Point of Beginning and containing 0.2098 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (g) 512 East Monroe Street LEGAL DESCRIPTION A parcel of land in the West Half Section 12, Township 27 North, Range Portage Township, St. Joseph County, Rush's 1st Addition as recorded in Joseph County Recorder's office in described as follows: of the Southeast Quarter of 2 East, City of South Bend, Indiana, being Lot 3 of John Book 2, Page 53, at the St. South Bend, Indiana, and Commencing at the Northwest corner of Lot 2, also being the intersection of the East right-of-way line of Fellows Street and the South right-of-way line of Monroe Street; thence North • 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°38'43" East, 55.00 feet along said South right-of-way line; thence South 00°00'00" East, 166.09 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'40" West, 55.00 feet along said North right-of-way line; thence North 00°00'00" West, 166.05 feet to the South right-of-way line of Monroe Street and the Point of Beginning, and containing 0.2097 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (h) 502 East Monroe Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being the North 38.00 feet of Lot 2 of John Rush's 1st Addition as recorded in Book 2, Page 53 at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at the Northwest corner of Lot 2, also being the East right-of-way line of Fellows Street and the south right-of-way line of Monroe Street; thence North 89°38'43" East (bearing assumed), 55.00 feet along said South right-of-way line; thence • South 00°00'00" West, 38.04 feet; thence South 89°41'40" West, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 38.00 feet along said East right-of-way line to the Point of Beginning, and containing 0.0480 acres, more or less, and is subject to all easements, restrictions and or covenants of record. n U (i) 413-415 East South Street LEGAL DESCRIPTION A parcel of land in the East Half of the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being the middle 40.00 feet of Lot 4 of Jodan's Subdivision, as recorded in Book 3, Page 12, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northeast corner of Lot 1, also being the South right-of-way line of an 11.00 foot alley and the West right-of-way line of Fellows Street; thence South 00°00'00" West • (bearing assumed), 165.00 feet along said West right-of-way line; thence South 89°42'43" West, 57.32 feet to the Point of Beginning; thence South 00°00'00" West, 55.09 feet to the North right-of-way line of South Street; thence South 89°42'43" West, 39.84 feet along said North right-of-way line; thence North 00°00'03" East, 55.09 feet; thence North 89`42'40" East, 39.84 feet to the Point of Beginning, and containing 0.0504 acres, more or less, and is subject to all easements, res~rictions and or covenants of record. • (j) 310 East South Street LEGAL DESCRIPTION A parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted. as Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana and described as follows: Beginning at an iron at the intersection of the East right-of-way line of Carroll Street and the South right-of-way line of South Street; thence south 89°39'47" East (bearing assumed), 141.50 ® feet along said South right-of-way line to the Point of Beginning; thence continuing South 89°39'47" East, 50.00 feet along said South right-of-way line; thence South 00°00'00" East, 115.50 feet to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 50.00 feet along said North right-of-way line; thence North 00°00'00" West, 115.50 feet to the South right-of-way line of South Street and the Point of Beginning, and containing 0.1326 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • ~J (k) 620-622 Lincolnway East LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 14 and 21 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way of a 12.50 foot alley; thence North 89°41'40" • East (bearing assumed), 165.00 feet along said South right-of-way line to the Point of Beginning; thence continuing North 89°41'40" East, 82.06 feet along said South right-of-way line to the Southwest right-of-way line of Lincoln Way; thence South 37°21'40" East, 56.16 feet along said Southwest right-of-way line; thence -South 71°41'40" West, 31.43 feet; thence South 89°41'40" West, 86.28 feet; thence North 00°01'54" West, 54.53 feet to the South right-of-way line of a 12.50 foot alley and the Point of Beginning, containing 0.1245 acres, more or less, and is subject to all easements, restrictions and or covenants of record. U (12) The acquisition by purchase or condemnation of parcels of real estate and improvements thereon in the City of South Bend needed for redevelopment purposes and the rehabilitation of the parcels of real estate and improvements, the locations and legal descriptions of said parcels being as follows: (a) 618 Lincolnway East • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots 19 and 20 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Southwest corner of Lot 18, also being the East right-of-way of a 12.50 along thence East, thence line feet line of Rush Street, and the North right-of-way line foot alley; thence North 89°41'40" East 100.00 feet North right-of-way line to the Point of Beginning; 00°01'54" West, 40.00 feet; thence North 89°41'40" feet to the West right-of-way line of Lincolnway; 37°21'40" East, 50.12 feet to the North right-of-way 12.50 foot alley; thence South 89°41'40" West, 140.50 said North right-of-way line to the Point of said North 110.11 South ~f a along Beginning, and subject to all record. containing 0.1151 acres, more or less, and is easements, restrictions and or covenants of • (b) 626 Lincolnway East • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 14 and 21 of John Rush's 1st Addition, as recorded in-Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana,. and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 54.53 feet to the Point of Beginning; thence North 89°41'40" East, 86.28 feet; thence North 71°41'40" East, 31.43 feet to the Southwesterly right-of-way line of Lincolnway; thence South 37°21'40" East, 62.30 feet along said Southwesterly right-of-way line; thence South 89°41'40" West, 153.89 feet; thence North 00°01'54" West, 40.00 feet to the Point of Beginning, and containing 0.1315 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (c) 701 East South Street • LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 14 and 21 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commending at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet thence North 89°41'40" East, 35.00 feet to the Point of Beginning; thence continuing North 89°41'40" East, 38.79 feet; thence South 00°01'54" East, 71.74 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 38.79 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning and continuing 0.0636 acres, more or less, and is subject to all easements, restrictions and covenants of record. (d) 613 East South Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 14 of John Rush's 1st Addition, as recorded in Book 2,-Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 165.00 feet along said South right-of-way line; thence South 00°01'54" East, 94.53 feet to the Point of Beginning; • thence North 89°41'40" East, 35.00 feet; thence South 00°01'54" East, 71.47 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 35.00 feet along said North right-of-way line; thence North 00°01'54" West, 71.47 feet to the Point of Beginning, and containing 0.0574 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (e) 611 East South Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lot 13 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush. Street and the South right-of-way line of a 12.50 foot alley; thence North 89°41'40" East (bearing assumed), 110.00 feet along said South right-of-way line to the Point of Beginning;. thence continuing North 89°41'40" East, 55.00 feet; thence South 00°01'54" East, 166.00 feet to the North right-of-way line of South Street; thence South 89°41'40" West, 55.00 feet along said South right-of-way line; thence North 00°01'54" West, 166..00 feet to the South right-of-way line of a 12.50 foot alley and the Point of Beginning and containing 0.2096 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (f) 512 South Rush Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots 18 and 19 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the southwest corner of Lot 18, also being the North right-of-way line of a 12.50 foot alley and the East right-of-way line of Rush Street; thence North 00°01'54" West (bearing assumed), 40.00 feet along said East right-of-way line; thence North 89°41'40" East, 100.00 feet; thence South 00°01'54" East, 40.00 feet to the North right-of-way line of a 12.50 foot alley; thence South 89°41'.40" West, 100.00 .feet to the East right-of-way line of Rush Street and the Point of Beginning, and containing 0.0918 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (g) 514 South Rush Street LEGAL DESCRIPTION A parcel of land in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being part of Lots 11 and 12 of John Rush's 1st Addition, as recorded in Book 2, Page 53, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at the Northwest corner of Lot 11, also being the intersection of the East right-of-way line of Rush Street and the South right-of-way line of a 12.50 foot alley; thence North 89°40'41" East (bearing assumed), 110.00 feet along said South right-of-way line; thence South 00°01'54" East, 29.50 feet; thence South 89°40'41" West, 110.00 feet to the East right-of-way line of Rush Street; thence North 00°01'54" West, 29.50 feet along said East right-of-way line of the Point of Beginning and containing 0.0745 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (h) 620 South Columbia Street LEGAL DESCRIPTION A parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being Lot 9 of Birdsell Mfg. Co. Subdivision, as recorded in Book 1, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Beginning at an iron on the Northwest corner of Lot 9 in Birdsell Mfg. Co.'s Subdivision and also being on the East right-of-way. line of Columbia Street; thence North 88°21'17" East (bearing assumed), 134.70 feet to the West right-of-way line of a 10.00 .foot alley; thence South 00°00'05" West, 47.00 feet along said West right-of-way line; thence South 88°21'17" West, 134.70 feet to the East right-of-way line of Columbia Street; thence North 00°00'05" East, 47.00 feet along said East right-of-way line to the Point of Beginning and containing 0.1453 acres, more or less, and is subject to all easements, restrictions and or covenants of record. (i) 602 South Caroll Street LEGAL DESCRIPTION follows: A .parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as Beginning at an line of Carroll Street; thence feet along said South 00°00'00" 100.00 feet to thence 00°00'07" line of Carroll iron at the intersection of the East right-of-way Street and the South right-of-way line of South South 89°39'47" East (bearing assumed), 100.00 South right-of-way line of South Street; thence East, 53.50 feet; thence North 89°39'47" West, the East right-of-way .line of Carroll Street; West, 53.50 feet along said East right-of-way Street to the Point of Beginning and containing 0.1230 acres, more restrictions and or or less, and is subject to all easements, covenants of record. • (j) 609 South Columbia Street LEGAL DESCRIPTION A parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as Denniston & Fellows Addition as recorded in Book 2, Page 48, at the St. Joseph County Recorder's office in South Bend, Indiana, and described as follows: Commencing at an iron at the intersection of the South right-of-way line of South Street and the West right-of-way line . of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 feet along said West right-of-way line to the Point of Beginning; thence continuing South 00°00'00" West, 57.75 feet along said West right-of-way line to the North right-of-way line of a 14.00 foot alley; thence North 89°39'47" West, 45.25 feet along said North right-of-way line; thence North 00°00'00" East, 57.75 feet; thence South 89°39'47" East, 45.25 feet to the West right-of-way line of Columbia Street and the Point of Beginning and containing 0.0600 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • (k) 320 East South Street LEGAL DESCRIPTION A parcel of land in the Southwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, Portage Township, St. Joseph County, Indiana, being platted as Denniston & Fellows Addition as .recorded in Book 2, Page 48, at the St. Joseph County Recorder's. office in South Bend, Indiana, and described as follows: Beginning at an iron at the intersection of the South right-of-way line of South Street and the West right-of-way line of Columbia Street; thence South 00°00'00" West (bearing assumed), 57.75 feet along said West right-of-way line; thence North 89°39'47" West, 45.25 feet; thence North 00°00'00" East, • 57.7.5 feet to the South right-of-way line of South Street; thence South 89°39'47" East, 45.25 feet along said South Street right-of-way line to the Point of Beginning, and containing 0.0600 acres, more or less, and is subject to all easements, restrictions and or covenants of record. • ST. JOSEPH TITLE CORP. 210 J.M.S. BUILDING SOUTIi BEND, IN 46601 (219) 232-5845 Couunitment No. 58972 Your No.: Effective Date of .Commitment: March 6, 1990 at 8:00 a.m. EXHIBIT B Prepared For: CITY OF SOUTH BEND, INDIANA Inquiries Should be Directed to: FRANK A. ANTONOVITZ 1. Policy or Policies to be issued: Amount (a) ALTA Owners Policy - Form B - 1970 $2,829,954.00 Proposed Insured: SOUTH BEND REDEVELOPMENT AUTHORITY • (b) ALTA Loan Policy 1970 2. The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple. 3. Title to said estate or interest in said land is at the effective date hereof vested in: BOARD OF PUBLIC WORKS FOR THE CITY OF SOUTH BEND (as to Parcels I, III, IV, IX, XIV through XXVII inclusive) THE CITY OF SOUTH BEND ON BEHALF OF ITS DEPARTMENT OF REDEVELOPMENT (as to Parcel II) CITY OF SOUTH BEND FOR ITS DEPARTMENT OF REDEVELOPMENT (as to Parcel V) MUNICIPAL CITY OF SOUTH BEND, INDIANA (as to Parcel VI) CITY OF SOUTH BEND, FOR THE USE AND BENEFIT OF ITS DEPARTMENT OF REDEVELOPMENT (as to Parcel VII) CITY OF SOUTH BEND (as to Parcel X) CITY OF SOUTH BEND FOR THE USE AND BENEFIT OF ITS PARK DEPARTMENT (as to Parcel VIII) CITY OF SOUTH BEND, AND/OR BOARD OF COMMISSIONERS OF THE CITY OF SOUTH BEND, AND/OR CITY OF SOUTH BEND FOR THE USE AND BENEFIT OF ITS DEPARTMENT OF PUBLIC WORKS (as to Parcel XI) RINK RIVERSIDE PRINTING, INC. (as to Parcel XII) CITY OF SOUTH BEND, INDIANA AND THE BOARD OF PARK COMMISSIONERS OF THE CITY OF SOUTH BEND, INDIANA (as to Parcel XIII) 4. The land referred to in this Commitment is located in the County of St. Joseph State of Indiana and described as follows: PARCEL I Starting at a point on the West right-of-way line of Niles Avenue, 132 feet South of the South right-of-way line extended of Washington Street -continued- SCHEDULE A - (Continued) ,~ .~.- - • Coimnitment No. 58972 continuing North along said West right-of-way line to a point 165 feet North of the North right-of-way line of LaSalle Avenue; thence East a distance of 66 feet to a point along the East right-of-way line of Niles Avenue 165 feet North of the North right-of-way line of LaSalle Avenue; thence South along said East right-of-way line to a point 132 feet South of the South right-of-way line of Washington Street; thence West a distance of 66 feet back to t:he starting point. PARCEL II: Part of the West Half of the Northeast Quarter, Section 12, Township 37 North, Range 2 East in Cottrell's Addition, City of South Bend, St. Joseph County, Indiana, described as commencing at the Northeast corner of part of Lot Numbered Five (5); thence due South for 131.79 feet; thence West for 60 feet; thence due Nortli to the South right-of-way line of Washington Street vacated for 132.27 feet; thence East for 70 feet back to the point of beginning. PARCEL III:Starting at a point along the North right-of-way line of Madison Street, 467 feet West of the point of intersection of said North right-of-way line and the West right-of-way line of Niles Avenue;. thence East along said North right-of-way line to said point of intersection; thence South along said West right-of-way line a distance of 82.5 feet to the point of intersection with the. South right-of-.way line of Madison Street; thence West along said South right-of-way line a distance of 462 feet to a point; .thence Northwesterly along a line a distance of 62 feet, more or less, back to the starting point. PARCEL IV: Starting at the point along the North right-of-way of Washington Street extended, 14 feet West of the intersection of the East right-of-way line of Niles Avenue and the North right-of-way line of Washington Street; thence East along said North right-of-way line a distance of 373 feet to a point 14 feet East of the point of intersection with the West right-of-way-line of Hill Street; thence South parallel to said West right-of-way line a distance of 82.5 feet to the point of intersection with the South right-of-way line of Washington Street extended; thence West along said South right-of-way line to a point 14 feet West of the point of intersection with said East right-of-way line of Niles Avenue;. thence North parallel to said East right-of-way line back to the starting point. PARCEL V: Commencing at the Southwest corner of Lot One (1) in Heck's Addition, also situated in the West Half of the Northeast Quarter of Section 12, Township 37 North, Range 2 East; thence West along the North side of Jefferson Blulevard for 290.00 feet to the point of beginning; thence Northwest for 111.26 feet; thence Northwest for 129.18 feet; thence Northwest for 146.45 feet; thence Northwest for 124.87 feet; thence Southeast running along the West side of the St. Joseph River for approximately 380.00 feet;, also being the North side of Jefferson Boulevard; thence East for 145.00 feet back to the point of beginning. PARCEL VI: Commencing at the Southwest corner of Colfax (U.S. 20) and St. Joseph River Street, also being the Northwest corner of Tract 8 in .the River Bend Addition and situated in the East Half of the .Northwest Quarter of Section 12, Township 37 North, Range 2 East; thence Southeast for 140.00 feet; thence Southeast for 250.79 feet; thence due South along the radius for 117.8 feet; thence Southeast for 122.42 feet; thence Southeast for 134.06 feet; thence Northeast for 74.66 feet; thence Northwest for 113.4 feet; thence West for 29.7 feet; thence Northwest for 17.27 feet; thence Northeast for 27.47 feet; thence North for 45.54 feet; thence i -continued- SCHEDULE A - (Continued) -----~ Commitment No. 58972 Northwest for 64.38 feet; thence Northwest for 38.49 feet; thence Southwest for 24.41 feet; thence Northwest for 178.5 feet; thence Northeast for 10.75 feet; thence Northwest for 34.2 feet; thence Southwest for 10.75; thence Northwest for 57.6 feet; thence North for 83.94 feet; thence West for 95 feet back to the point of beginning. PARCEL VII: Commencing at the Northeast corner of Monore Street and Lincolnway East, also being the Southeast corner of Tract 8 in the River Bend Addition and situated in the West Half of the Southeast Quarter of Section 12, Township 37 North, Range 2 East; thence 399.68 foet along the East line of said tract to the point of beginning; thence South 52 07'42" West, 190.00 feet; thence North 46°02'06" West, 180.00 feet; thence North 65°47'18" West, .460 feet; thence North 38°42'21" West, 236.98 feet; thence North 70°06'30" West, 50.00 feet; thence North 04°39'38" West, 40.00 feet; thence North 65°42'29" East, 10.00 feet; thence North 25°39'11" West, 425.12 feet; thence North 25°46'29" West, 232.03 feet; thence North 53°10'13" West, 108.76 feet; thence North 25°55'32" West, 90.64 feet; thence North 19°47'16" West, 156.66 feet; thence North 87°40'09" East, 94.06 feet; thence South 28°59'50" East, 145.12 feet; thence South 23°06'10" East, 140.73 feet; thence South 26°26'27" East, 149.84 feet; thence South 20°04'37" East 152.26 feet; thence South 22°53'19" East, 167.55 feet; thence South 34°56'19" East, 224_.42 feet; thence South 31°26'14" East, 157.37 feet; thence South 45°43'42" East, 161.61 feet; thence South 64°47'26" East, 159.34 feet; thence South 68°04'55" East, 228.93 feet; thence South 76°10'38" East, 234.62 feet back to the point of beginning. PARCEL VIII: Commencing at the Northeast corner of Colfax (U.S. 20) and St. Joseph Street, also being the Southeast corner of Lot Ninety-one (91) in the River Bend Addition and situated in the West Half of the Northwest Quarter of Section 12, Township 37 North Range 2 East; thence Northwest 228.43 feet along the East right-of-way line of St. Joseph Street; thence Southeast for 108.76 feet; thence Southeast for 430.00 feet along the St. Joseph River back to the point of beginning. PARCEL IX: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: Commencing at the Northeast corner of the Michigan Street and Colfax Avenue right-of-ways; thence due North a distance of 264 feet; thence Southwest along the North-South curb on the East side of P'Iichigan Street to the North right-of-way line of Colfax Avenue, a distance of 284 feet; thence due East a distance of 45 feet back to the point of beginning. PARCEL X: A part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, described more particularly as follows: Beginning at the intersection of the East boundary ofoNorth~Michigan Street and the North boundary of East Colfax Street; thence North 89 39 37 East a distance of 244.07 feet; thence North 20°24'52" West a distance of 53.52 feet; thence Northwesterly a distance of 153.59 feet along an arc to the left and having a radius of 243.98 feet and subtended by a long chord having a bearing of North 38°28'59" -continued- SCHEDULE_~ l .on~„inued) Commitment No. 58972 West a distance of 96.35 feet; thence Northwesterly a distance of 56.94 feet along an arc to the left and havin~ a radius of 148.28 feet and sutended by a long chord having a bearing of North 69 59'03" West and a length of 56.59 feet; thence South 00°28'59" East a distance of 242.50 feet to the place of beginning. PARCEL XI: Commencing at the Northwest corner of Lot Four (4) in Heck's Addition, also situated in the West half of the Northeast Quarter of Section 12, Township 37 North, Range 2 East; thence Southeast along the East side of the St. Joseph River for approximately 1200 feet to the Southeast corner of Lot 19; thence North for 20 feet; thence Northwest parallel to the East side of the St. Joseph River for approximately 1200 feet, the North line of Lot 4; thence West for 20 feet back to the point of t~eginning. PARCEL XII: That part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East and that part of Lots 7, 8 and 9 in the Original Plat of the. Town of Lowell as recorded in the records of St. Joseph County, Indiana, which is described as: Beginning at the point of intersection of the North line of Colfax Avenue and the West line of Sycamore Street; thence North along said West line a distance of 10 feet; thence West (assumed bearing) along a line 10 feet North and parallel to the North line of Colfax Avenue, a distance of 100 feet; thence Northwesterly along a line 10 feet, more or less, Easterly of the Easterly Bank of the St. Joseph River a distance of 89 feet; thence West along a projected line perpendicular with the St. Joseph River, a distance of 5 feet; thence Northwesterly along a parallel line 5 feet Easterly of the Easterly bank of the St. Joseph River a distance of 40 feet; more or less, thence East along a line perpendicular with. the St. Joseph River a distance of 10 feet; thence Northwesterly along a parallel line 15 feet more or less Easterly of the Easterly Bank of the St. Joseph River a distance of 11 feet, more or less; thence West 10 feet along a line perpendicular to the St. Joseph River; thence Northwesterly to a point on the North lot line of Lot 7, a distance of 10 feet more or less, East of the Easterly bank of the St. Joseph River; thence West (assumed bearing) along said North lot line a distance of 10 feet more or less, to the Easterly bank of the St. Joseph River; thence Southeasterly along said Easterly bank to the projected North line of Colfax Avenue; thence East along said North line and its projection back to the point of beginning. XIII: The Southeast Quarter of Section 12, Township 37 North, Range 2 East, City of South Bend, St. Joseph County, Indiana, more particularly described as beginning at the Southeast corner of Lot 213 Heck's Addition and the Easterly edge of the waters of the St. Joseph River; thence meandering Southeasterly and South along said Easterly water's edge to the point of intersection with the North right-of-way line of Sample Street projected; thence Northeast along said projected North right-of-way line of Sample Street to the West right-of-way line of Northside Boulevard; thence Northwesterly and North along said right-of-way line of Northside Boulevard to the East lot line of Lot 213 of Heck's Addition; thence South along said East lot line of Lot 213 of Heck's Addition; thence South .along said East lot line a distance of 15 feet, more or less, back to the point of beginning. XIV: Commencing at the Southeast corner of Lot Numbered 393 as shown on the Original Plat of the City of South Bend; thence South 55 feet; thence East 15 • -continued- SCHEDULE A - (Continued) ~.__~- Commitment No. 58972 feet; thence North 55 feet; thence West 15 feet back to the point of beginning. PARCEL XV: Commencing at the Southwest corner of Lot Numbered 244 as shown on the Original Plat of the City of South Bend; thence West 15 feet; thence North 40 feet; thence East 15 feet; thence South 40 feet back to the point of beginning. PARCEL XVI: Commencing at the Southwest corner of Lot Numbered 244 as ShOW11 on the Original Plat of the City of South Bend; thence North 65 feet to the point of beginning; thence West 15 feet; thence North 53 feet; thence East 15 feet; thence South 53 feet, back to the point of beginning. PARCEL XVII: Commencing at the Southwest corner of Lot Numbered 244 as shown on the Original Plat of the City of South Bend; thence South 14 feet; thence West 15 feet; thence North 14 feet; thence East 15 feet back to the point of beginning. PARCEL XVIII: Commencing at the Northwest corner of Lot Numbered 385 as shown on the Original Plat of the City of South Bend; thence North 19 feet; thence East 65 feet;. thence South 19 feet; thence West 65 feet back to the point of beginning. PARCEL XIX: Commencing at the Northeast corner of Lot Numbered 385 as shown on the Original Plat of the City of South Bend; thence North 19 feet; thence West 100 feet; thence South 19 feet; thence East 100 feet back to the point of beginning. PARCEL XX: Commencing at the Southwest corner of Lot Numbered 228 as shown on the Original Plat of the City of South Bend; thence South 14 feet; thence East 38 feet; thence North 14 feet; thence West 38 feet back.to the point of beginning. PARCEL XXI: Commencing at the Southeast corner of Lot Numbered 228 as shown on the Original Plat of the City of South Bend; thence West 144 feet; thence North 14 feet; thence East 129 feet; thence North 198 feet; thence East 15 feet; thence South 212 feet back to the point of beginning. PARCEL XXII: Commencing at the Southeast corner of Lot Numbered 225 as shown on the Original Plat of the City of South Bend; thence North 198 feet; thence West 165 feet; thence North 14 feet; thence East 180 feet; thence South 212 feet; thence West 15 feet back to the point of beginning. PARCEL XXIII: Commencing at the Northeast corner of Lot Numbered 226 as shown on the Original Plat of the City of South Bend; thence North 14 feet;.. thence East 15 feet; thence South 14 feet; thence West l5 feet back to the point of beginning. SCil1:DUI~I's A - (CONTINUED) Commitment No. SE3972 I'ARCT'I. XXIV: Commencing at the Southwest corner of Lot Numbered 18 as st~owri on the Original Plat of the City of South Bend; t2lence West 5 feet; thence South 15 feet; thence East 45 feet; thence North 15 feet; tYience West 40 feet bacl: to the point of beginning. PARCEL XXV: Commencing at the Southeast corner of Lot Numbered,l8 as shown oTi the Original Plat of the City of South.-Bend; thence West 78 feet; thence South 15 feet; thence East 78 feet; thence North 15 feet back to the point of beginning. PARCEL XXVI: Commencing at the Southwest corner of Lot Numbered 7 as shown on the Original Plat of the City of South Bend; thence c•7est 17 feet; thence South 16 feet; thence East 17 feet; thence North 16 feet back to the point of beginning. PARCEL XXVII: Commencing at the Northwest corner of Lot Numbered 270 as shown on the Original Plat of the City of South Bend; thence East 82.5 feet; thence North 15 feet; thence West 99.5 feet; thence South 99 feet East 17 feet; thence North 84 feet back to the point of beginning. C~ Par. t L S ~~t lie B~~~, ~ „~, Commitment No. 58972 1. The following are the requirements to be complied with: 1. Instruments necessary to create tl~e estate or interest to be insured must be properly executed, delivered and duly filed for record. a. Properly executed Quit-Claim Deed from the South Bend Board of Public Works to I.C. 36-1-11-3 (b) to tl~e South Bend Redevelopment Authority (as to Parcels I, III, IV, IX, XI, and XIV through XXVII inclusive) b. Properly executed Quit Claim Deed from Rink Riverside Printing, Inc. to South Bend Redevelopment Authority (as to Parcel XII) Provide certified copy of resolution of the Board of Directors of Rink Riverside Printing, Inc. authorizing this sale to South Bend Redevelopment Authority and naming the officers of Seller (by name and office or we must also require a current certificate of incumbency), who are to execute and deliver such deed. The certificate should be dated the same date of the deed and must certify that the aforesaid resolution, whenever it was passed, is still in full force and effect, unchanged, as of the certificate date. OR Language appearing on the deed that: "the undersigned persons executing this deed on behalf of Grantor represent and certify that they are duly elected officers of Grantor and have been fully empowered, by proper resolution of the Board of Directors of Grantor, to execute and deliver this deed; that Grantor has full corporate capacity to convey the real estate described herein; and that all necessary corporate action for the making of such conveyance has been taken and done." NOTE: Gross Income Tax must be paid before deed may be transferred or deed must state the following; "Grantor certifies under oath that no Indiana Gross Income Tax is due or payable in respect to the transfer made by this deed." c. Properly executed Quit Claim Deed from the City of South Bend, Indiana pursuant to I.C. 36-1-11-3 to South Bend Redevelopment Authority (as to Parcels VI, XI,XIII and X) d. Properly executed Quit Claim Deed from South Bend Park Board pursuant to I.C. 36-10-4-9 (8) and I.C. 36-1-11-3 (b) to South Bend Redevelopment Authority (as to Parcels VIII and XIII) 2. Release and/or Subordination of the following: (Affects Parcel XII) e. Mortgage in the amount of $200,000.00 from Rink Riverside Printing, Inc. to St. Joseph Mortgage Co., Inc. an Indiana Corporation dated September 13, 1985 and recorded September 19, 1985 as Document Number 8520226 in the Office of the Recorder of St. Joseph County, Indiana. • f. Mortgage in the amount of $95,320.43 from Rink Riverside Printing, Inc. to St. Joseph Bank and Trust Company, South Bend, Indiana dated -continued- Commitment No. 58972 September 13, 1985 and recorded September 19, 1985 as Document Number 8520227 in the Office of the Recorder of St. .Joseph County, Indiana. g. Mortgage in the amount of $525,000.00 from Rink Riverside Printing, Inc. to St. Joseph Bank and Trust Company, South Bend, Indiana dated July 29, 1986 and recorded August 4, 1986 as Document Number 8619441 in the Office of the Recorder of St. Joseph County, Indiana. h. Mortgage in the amount of $173,102.00 from Rink Riverside Printing, Inc. to St. Joseph Bank and Trust Company, South Bend, Indiana dated October 14, 1987 and recorded October 26, 1987 as Document Number 8734213 in the: Office of the Recorder of St. Joseph County, Indiana. i. Mortgage in the amount of $25,000.00 from Rink Riverside Printing, Inc. to Trustcorp Bank, South Bend, South Bend Indiana dated August 29, 1989 and recorded September 5, 1989 as Document Number 8923429 in the Office of the Recorder of St. Joseph County, Indiana. • u Parma TT Cr}~pd„~ a $ _ .~_ Commitment No. 58972 II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless tl~e same are .disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof. but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. 2. Standard Exceptions: (a) Rights or claims of parties in possession not shown by the public records. (b) Easements, or claims of easements, not shown by the public records. (c) Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. (d) Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. • 3. Special ,Exceptions: a. 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SI, If,II 1:11114'ill'•.In^ I!1 Ilu• (~11l nlt:Pl'j lit'l:l!II!I{1_ IIII' (.1111111:1!11] '.IGIII II!• I!:III'Ve(I 11(1111 L;1!IIII+\' IIII .'I,,r 111$:; I)I II: 1111.11 II I1: :1IIlllrl In!111 .1 ly .1(.I Ili I('I1I II II :1; 1;1•!!• 1 !, ~ I r ! I:: Inrpulu;n!1 Ira Inlbnr nl Iln' Inulura:d 111•.n11•,I to ::u !)c;r)n::c'.rn h fn1"•vlydtµ;. II III+` In!!1!tl :c11 I_ ,nr11 :,11111 d1r:I.llr:r. su!'h I It 1 II1F: e, ir;nl lu` ~ I'n+ cord I1111v='Ir:!)(1!: 111 IIIC (.n'!'I':1!!' !q !I 111!: {.InlgC+ll`j IIIII!:I•;.I' 1'.:,'Iithll". ;U III(II !cIIIIV,;I+'+IIII'{lf :111V::11fa11I1!IUI:I. III!I1, r;IlClll+litl:ll;!+', :Pf't'r'I':: : Irn!(1 n! Ill{p'I 111; 1111 t1. I{t`i I.11t!1117II!'~;!1 It;:'11!Illlli lIL!,; ~!!nrlrl `d i:1'11!III' 1111! 114': 1.Itn11!IIIII!I:I:I ,Irrlllllul!h.j 11111 :IU,II JI!Il'111111R'IIt';I.;11! nlll Illlle';re IIII' I Illnl'.!!I•, li'1+1111.IIIII11y 1!I!!b'll!1I';I', InUIIIhd (111(;;1 li!III Ill lial;:!11-!nl1 .{ "1 111!" r (,!1!uli!II;I I'. .qql ,Ill lnl,!11I II I:. I I;!IIIIIIV nl Ile' I'I!ngl,n;'.' Inul"! Ihl;, I.nnnnl!nn'!It :,Il;dl h1; only' In Ih1: n:l!nrd In1q':: I•II Irr,unxl ;unl ;{1;.11 ll:'!Ilc': inrhub'tl !mlll•I !hr I' 1u!Iillnl Iii branl•11 0l U1:' 114111 nl ludo ;+n1 Indu:e", r1!nlnnllnll Irn -+1llgll'd II?; :fclnrll I;1::'; nll:nn!~Ii u1 I!'il.u,l!• Ir:ll'rnl 1!I nll:h:rl,ll roll j!I rlrt!IIl I;!ili (al In runglly v..f111 Ill+! 11:r;n111!ne!nls hl;llvd nl (hl It! I!lin:in:Ilr. 1!;?a•111i1ue:::hnrdn Itt >t'hr;111.111! 11, nl I!:) In :Irt! 111!' W ta!1;11(: the E";!~li!'. nr inUtlt>;;I rn nunltlaye Lheleon cnvelrrl Iry Ihls Cnnunllnu!nl. In nn t:vent shall such liahilily :;xcet!d the i+rnuunl staled in Schc:tlule t~. fr.n the Lnlhcy of 1u11icies !:nnllnilled fnt and sncll li;lhilily I ; snhjl:r.l lu the in::ulin!I Illnvisiun:; and thr~ (:undilinn;; ;Ind SUInII<Ilinns t+nd Ille C:xclusi!nls Ilan{ (:nvI:I;IIIc nl 1hr: loon of Irnlicy nt Indirie:; cununillnd Irn ul IAVnI nl III!: Innln!::1a1 Insuu:d wlnrh au' hl;n'hy incnlluu,lted by u.!len:ncc and made a Icnt of II!i; I;unnl!ilnu':111 cxrcl!t a;; r;r.Inrvsly nuldihr!!i hr.lcin ~1 /\ny 1f!~linn nl ;eaunl; nl 1u1111:; nl ,naiun Ih:11 the I?Iulnlst:d Insured nhly halve nl n!•ly hlinu against the Cnmisuly alisinrJ nut nl II!r. anlu; nl the tillr. lu thr. rr.;l;lla nr inlen:sl ul the •;I;du:; of the !n!nlt3:lcle Ihen;un r;nvcrcd t!y this (;ununllnu.!nt mu;;l. he based on ;nrd anr, .;uhjer.l to Ihr. Inn\'i:ann:; nl thi:: Cnnnrnhn!all IIJ 1NI I(`dl_S5 b'VI ILIiL01, title In:;nr;nce Cump:uty u( Minnesnla hr?s caused its crnlt!nafc ntune ilnd seal to l1e hrlrurnn atfirrd by il:; duly rnllhtni;ed nlliccl ; un Ih!: t1111r. shnvvn in Schedule ~, lu he villid v'/h{;n I:r!untt:rsi(aned by ;I valirl,ttirn) nl(ICeI nr nliler rnilhrnitcd ::i!In;uut), 1 I1 LE IPJ:~llli/\fJCC Cllfvll'N'J'r tlt tv11NNE(lln a :,l,n , L'I:m~l;rnl ' /' ) ? ,,LL / ~,.,...~; 1.ulh, m:r'r) Slgrr; ling rte.-1.. .._ ,,,, .~-•-;~'i•:'SV.,Iy` 1~ ~: .~:, !... , , ., , r al EXHIBIT C • • ~~ Important Real Estate Documents Prepared for you by: The Abstract and Title Corporation .~J~~J 135 S. Lof~wett,e South Lend. IN 4GG01 Phone 233-858 ~ COMM01'~tt~lFALTH LAND T[TLE INSURANCE COMPANY A Reliance Group Holdings Company COMMITMENT FOR TITLE INSURANCE ~~ ConuniUncnt No. LL SCHEDULE A I. Gffectivc Datc: i-e.;'~:.'t•: day of ',r~i.; .L . i. ~}~+(± , at r3 : (<i.3 2. Policy or Policies to be issued: (a) ALTA Owner Policy, f=orm R - 1970 (Rev. 10-17-70 and 10-17-R4) Proposed Insured: fib) ~ ALTA Loan Policy - 1970 (Rev. 10-17-70 and 10-17-84) Proposed Insured: File No. '; .: ti~;:i'- ... ~.M. Amount g ~Conv ~ FHA ~ VA 3. .The estate or interest in the land described or referred to in the Commitment and covered herein is and is at the effective date hereof vested in <_^i y' G`!. ,it:llli_il 1•~~yJ'i~:{r ?.:.]~a.1.C.ti1~~ a_Ui. f ~.7tJ i:1:~~Ec ctla.i ::i~'.IIE'~ ! t. C:~ .~~:i l.i ~: 1'-'`_..:'LIA:=i?3i. a~i~. .:~3::: !'i i•?.~UF.:r;s!?j"ta.. 4. The land referred to in this Commitment is situated in the County of :; 4.. ~Tc.~~a*.-~T','t. State of .;.t~::i:~~,.1-a~'s ,and described as follows: ~• ;. .. ~..~ Countcrsigncd: ~• r i /~~ ~ - ~ ~'~'` . "~ ~ Authorized Officer or Agent American Land Title Association Commitment Valid Only If Schedule R anti Cmcr Arc Attached Schedule A Forrn 1 n04-2 (R~~v r, ~~ril C4-MMQNWEALTH iAND TITLE INSURANCE COMPANY • A Reliance Group Holdings Company l~ilc N~~. 73fs633'-G1 I'ulicy No. ~~ A parcel of lane] i n Section 12, 'iovmsh.ip the East [ialf of 37 J~or i;:h R thn Sout}twast Quarter of Paxtclage f I ~'ot~ns}tip, S 4 . , ange 2 t. ~7oseph C<~unty, East, City of Snut}z Inda.ana, bein a Bend r o ,ot 17_ , at of Joc3an's the ;.~t . ;ror;e g Uuk~di.v3_sion, as rccoxded in IIoa}; 3, h C t ' a t Page Indiana, p c1r1r~ dear.ribe~l oun y i~eec~zder. iZS follows: ;~ Uf f.ir_.e in South Lend, Corunenci_ng <at t}ie tdozthea6t. corner U>` Lot 1, also being the ~aut}t r.lght-o£-wt~y line of arl .11.00 foot alley and t.hc tdest: right-of--w<-~y 1:Ln~ of Fellows :;tr_eet; thence South dU°-00'-pp" hest (beax•it2g aa:~ume(l) 165.00 f~e<'t along said ir'est right-of-ivay li.itc; thence mouth f~9°-92' -43" West, 57.32 feet to t.}~e Poi;it of Beginning; L-hence Sout}i 00°-00'-OQ" Yost, 55.09 feet, to the t~}orL•h rig}iL--o£-way Line of South Street; t.henc:e South 89°-42'-4s" We~;t, 39.II4 feet along said North right-of-~'aY line; thence ldorth 00°-UO `-03" 1:ast, 55.09 feet.; t}ic:nce NorL}t B9°-~2'-40" East, 39.8 feet tc t}-,e Poirit of~ IIegirining. Form 2002 (Continuation) Common«~ealtll Land Title Insurance Company SC{ IEUULL~. I3 File No. ~-%~~C'-~t'~RE t (•untntiuncnt Nc). Schedule R of the policy or holicics to he issued ~~ill contain c.~c~:htion; to tht: fullu~~ing nwttcrs unless the same arc ciishosed of to the. satisfaction of the C•omhan~': A. (nsU-untents ncc~ssary to create the estate ur interest to he insured mint he properly executrd, dcli~•ered and duly lilt:d for record. l3. I'a)'tncnt of the full considcratiun to, or fur the account ul•, the grantors or mortgagors should hr oracle. C•. I)ayntcnt ol• all faxes, chargrs, asussmrnt;. Ir~icd and as,rzsrd against suhjcrt hrentiua, which arc clue and payable should he made. D- DCfccts, Ilerts, Cncllmbrances, adrersc claims ur other nr,tttcrs, if any, crt:atrd• lust ahhuu'ing in thchuhlic records or attaching suhseciucnt to the cffrcti~'c date hereof but prior to the date the hruliosed Insured aaluires fur ~ralue of rec:orll the estate or interest or nutrtgage thereon ru~crcd h~' thi; Cununiuncnt. E. Any Qwncr's I'ulicy issued pursuant hereto (rill contain under Schedule 13 thr C;cnrral f?xcehtions set forth helu~~'. Any Loan I'ulicy will contain under Schrdulc 13 (irnrral I':scehliuns I. ~ and i unless a sali;factury surrey is furnished; C;eneral [:xcehtiun a will appear unic;s sati;l~actory cridt:nce is Iln-nished that inthmvcmcnts and; or repairs or alterations therrto iu•c conthletcd; th:tl r<,ntraclur, suhcuntrators, labor and ntatcrialmcn arc all haiii. General L-xcehtions: 1. Ri+~hts or Claims of parties in hctsxasion nut shrnrn by the huhlic records. 2. Easements, or claims of c:lscmcnts, nut shown by the huhlic records. 3. Encroachments, o~~erlahs, houndat-y line disputes, ur other matters which would he disclosed by an accurate survey or inshcction of the hrt:mises. 4. Any lien, or t'i~~ht to a lien, for sct'vic:es, labor'. rn' material hcrctoforc or hereafter furnished, imposed by law and not shown by the public records. • 5. Taxes or special assessments which arc not shown as csistin~~ liens by the huhlic records. ..- . F. Shectai Excehuons: _ _ ,i.qr '-•rr i f_' IL C~~l}`~ i.ii~ ~.iJ'.f.+~~ i [.c IJf..J~cd~. .t~i`l..rL'1 i •Sri,~~~~~~:-------•----•---------------'-- _ ..__..____. __. r . _ , - .._ _.,,~ is _ t.. t r.....• ~::•.~ i_7:iy .:ii-!t: :4 ;-? i•ui.`r ~li:it liltl~_':,{;-f.S: ...~}~~ .itii_~'.,._. Ti ~.%iiT_~ ~_.t1~S .. is lF~.. ~i y.-.i i~~l4'. ..~i~ t,ii:~. _t. ii 1::._i% 3:.y i cl;_'i!. .'., nt.i. i;<<_ ij~: ..,. i.:_x).._ d,...L. - :i J ~Gl is E :. ._i: 1..L.1 C' •'i'r`:+i. .,_.~~'Jii .: it t' _i ;'i r. Ir r.i .. .., :jr, ii :_..._ ~i i" .':~. ~ . ?~`~~=~(~`..• i`t!'+c>V^,'. _.ii:{-U t:i.'!i.ii:.t.:;t~ ..`~C:t t.~.;l17ti.1)r.. ....... ;.-Q::jLi_~::C~ L1.. _:Ci) 13rt;._~C.. f:>r.7:';:)~T`3t•:_ vii~'Yt ::i:,:.t la~i'! ].iU'._ ~t'1;.1c_•i:•r: .ls.-.-crl:i' .ic,.:.__._.,.>!'.lL:)'s... ;'}rr:1.C~ i:t. f<:;!a;aLi`•_isii cil_;ir~'.1:1, y~(i-. lEi?: '.'1;.`C`.!'~.L.i.l%!~: ~?ii~l:1 ..::i;~:>~ .'C;:1`..in<'i. .-. ei }lt~a.~~_+~ ,. _. it i.. ~: dtS-Cllr.+.:1.1.1-Ci `.~ ~.. !~ i-:t; i.. ::!i1_ _...r t.'+1.1::..i.L1. i..i)i. :~ ^:-~ - -, C. 1'.:'., i.M1.i l` Ui_ ..'til!'C.!t _+..'i: _ ~'.r.. iC.\.'i'1!'~~:.t4t1't:tL h..i:Itilt-.jl:~'.Jii "c±.l:..i' ~1_iir~ eii•t:l ..'~it~1Z"Ztl~! I7Cj l+:F„':.iC!1.~.....Cirt 'lC'. `.1.iJ .+... t,.;~i ...+:.i_~%~~~i. ~., ,_i"t f:, I'•ic_,ia~ C)Cs-i.;:i:1C)LC. IiC='•TE'~--)t"i:`iirl~'` ,:i..:_:.l, +.1~. _...., l.:i~; f.;ir:: .....iil::t.'ii :~:::.lii.i:. .i+' f'•~ 4 _ ~ r•, tit .r .. ~~: .. .ti's f,r.. ritCill-~ 7l~ca 1. 1. .~,' .Li~iii~iC~ii± ..I'c.... t_l? i:ll :)!;~•c-. .t ... . l)!'i~ ..;~t:~ ?.C l i. „- ;i;; ,lr ,'c:.l.>>c~~t~:i~;,'? l:;<:~i;a;.....-. i,'i:Li. __ _ ;aa:.~~, ii (~i CJ .L l1 ~... '•. li.i I:l}, l).}~ j~t:i ~: 'l~! .t(,. llti .': 1 i': I_:+ii .,L ._:-1 l it•::; .ii i. :Li.c; is ~` i:iN ;:~•:'t:)i'..; ~'!- ~~i' _,'i ,T•^.. .. _.l7" _=%J.ii ,.'i' ..:?<~1. .. ;'r:. :~i:_ S)-:_'i ..: ~,i::;C71t: :li... i;1i;~~7~==~. -i~t.?itl._.it1~`. .. American Land Title Association Commitment Schedule B \alid Only II St:hululr ~~ and (•orcr Arc Attne:hcd Form 1004-56 ~QMM4I~WFALTH LAND TITLE INSURANCE COMPANY A Reliance Group Holdings Company (~ilcNo. ','3i3F3F-f,l I'uli~y Nu. 3. Design Guidelines, F-ionroe ~arr.pio Development Area, rerorcied Octat~er 20, 1981 in the: Office of the Recorder. of :~3t. ,7oseph County, Indiana, as Instrurne::nt t~lo. 8118582. 4. Resolution of the City of ;~outit F3enc3 Recievc:lopmcnt. Commission redecl.arinq the D?onroe-Sample Development Axea to Yee hliethtecl anu anprovinq a development plan, being Resolution No. G36, recor~ie~i April 16, 198.1 in the Office of the Recorder of Dt. Joseph County, Indiana, as ]:nstrument IJo. $15767. Further resolutions recorded i~iarch G, 1.9x4 in t2te Office of the Recoi:-cier of >t. Joseph County, Indiana, as Instruments I7umberecl 13404023, 8404024, f3404U31, and 8404033 and further racoi::led btay 23, 19135 in the Office of the Recorder of St. Joseph County, iriciiana, as Instrument P7o. 8509691 and recorded Jur~te 113, 191!5 in the Office of the Recorder of St. Joseph County, ii~ciian~a, as instrument No. 8511780 and two resolutions recorcl~°-c3 Uctober 4, 1985 in the Office of ti~4 Recorder of St. Joseph County, Inciian3, as Instruments I~unibered 13521549 Arid 13521550, r.ecorcied Z~iarrh ~i, 1986, as instrumeiit.s t~tur.-bex 5004713 and iiGG471+1, and recorcle:~i April 14, 1987, as Instruments 1Jumhe~: 871UG5G anti • 8710657, and recorded piarct; 15, .L988, as Instx~u~nerit hun-,bc:r 880GG31, recorded April 19, 191;8 as Int~truMent ido. £1809523, recorded I`ebruary 24, 1989 As lnstrunient P~)o. 8904949, z~ec:orcieu Dlarch 28, 1989 as Instrument t7o. 89074G5, recorciect I:izc~ust 25, 1989 as InSt~-ument ~~o. Sy22F41, recordedi November :14, 1983 as I3istrw-nent 2Ia. 8930424, recorded February 28, 1y9G as Znstruntent i3a. 90()4773, and. recorded rpril 10, ly3U as :insi.rut~~ent Idos. y(;;)87t)9, 91JG871C and 9008711. Form 2002 (Continuation) Commitment For Title Insurance Commonwealth Land Title Insurance Company, a Pennsylvania corporation, herein called the company, for a valuable con- sideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of litr estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the prcmiunrs and charges tliercfur, all subject to the provisions of Sciicdulcs A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Conuuitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate 120 days after the effective date hereof or when the policy or policies committed for shall be issued, whichever first occurs, provided that the failure. to issue such policy or policies is not the fault of the conrpanY• IN WITNESS WI1I:REOP, the said Company has caused its Corporate Name and Seal to be hereunto affixed; this instrument, including Commitment, Condrtrons and Strpulations attached, to become valid when countersigned by an Authorized Officer or Agent of the Company. COMMONWEALTH LAND TITLE INSURANCE COMPANY r~ Attest: /~ By f ~ /~~~ Gam/' ~ lj 5ccretary President Conditions and Stipulations 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acyuues actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule 13 hereof, and shall fail to disclose such knowledge [o the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose. such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Courpany otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under tlus Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. in no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions, the Conditions and Stipulations, and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which arc hemby incorporated by reference and -arc made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or intcrest or the status of the mortgage thereon covered by this Conuniturent must be based on and arc subject to the provisions of this Commitment. American Land Title Association Commitment 1966 Cover Page Form 1 a04-8 EXHIBIT D important Real Estate Documents Prepared for you by: The Abstract and Title Corporation `~?~ 135 S. Lafayette South Bend. IN 46601 Phone 233-8258 CHICAGO TITLE INSURANCE COtv9PANY A corporation of Missouri, herein called the Company fora valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. City of South Bend, Department of Economic Development 1200 County-City Building South Bend, IN 46601 Attention: Iiedy I,. Robinson Ref. # Blk 78 520 S SCHEDULER COMMITMENT No. EFFECTIVE DATE: 73Q76F-60 April 16, 1990 at eight o'clock A.M. Proposed Insured -LOAN: Proposed Insured -OWNERS: South Bend Redevelopment Authority Policy or Policies to be issued: LTA Owners Policy- ,LTA Loan Policy (10-21-87) (10-21-67) $1,000.00 The estate or interest in the land described or referred to in this Commitment and covered herein is a fee simple and title thereto is at the effective date hereof vested in: The City of South Bend, Indiana for the use and benefit of its Department of Redevelopment The land referred to in this Commitment is described as follows: Situate in St. JosepY, County, in the State of Indiana: A parcel. of land in the 4~est Aa1f (~) of the Southeast ~ua.rter of .Section Twelve (12), Township Thirty-seven (37) 1"iorth, Range Two (2) East, City of South Bend, Portage Township, St. Joseph County, Indiana, also being part of Lot 2,lumbereci Two (2) of John Rush's 1st Addition as recorded in Book 2, page 53 in the Office of the Recorder of St. Joseph County, Indiana, and described as follows: Commencing at an iron on the Northwest corner of Lot Nunbered Ttiao (2), also being the intersection of the South right-of-way line of r2anroe Street and the East right-af-way line of Fellows Street; thence South 00°00'00" t•Iest (bearing assumed), 38.00 feet along said East right-of-way line- to the Point of Beginning; thence North 89°41.'40" East, 55.00 feet; thence South 00°00'00" West, 29.00 feet; thence South 89°41'40" west, 55.00 feet to the East right-of-way line of Fellows Street; thence North 00°00'00" East, 29.00 feet along said East right-of-way line to the Point of Beginning. SCHEDULE A Commitment - 1966 , Reorder. Form No. 2288 (Rev. 2F89) SCHEDULE B Commitment No._7.3$~fiE-b n Schedule B Of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. B. Payment of the full consideration to, or for the account of, the grantors or mortgagors should be made. C. Payment of all taxes, charges, assessments, levied and assessed against subject premises, which are due and payable should be made. p. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. E. Any Owner's Policy issued pursuant hereto will contain under Schedule B the General Exceptions set forth below. Any Loan Policy will contain under Schedule B General Exceptions 1, 2 and 3 unless a satisfactory survey is furnished; General Exception 4 will appear unless satisfactory evidence is furnished that improvements and/or repairs or alterations thereto are completed; that contractor, subcontractors, labor and materialmen are all paid. General Exceptions: 1 . Rights or Claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, tabor, or material heretofore or hereafter furnished, imposed bylaw and not shown by the public records. 5. Taxes or special assessments which are not shown as existing liens by the public records. F. Special Exceptions: 1. 29FT ~ S2tlD 128 FT S EPID LOT 2 JOHE RUSHS 1ST ADD: Taxes for the year 1989 due and payable in Nay and i~oventber 1990, show none due at this time. Tai: Unit 18; Key 3030 1102. Prop. Use Gassd Land Va.l. $170; Imp. Val. $none; Idet Val. $none. TaxPS fcr the year 1990 due in May and 23ovember 1991. NOTICE: Above information, from County's tai: computer, is for limited purposes only, and may not reflect current .assessment figures or exemption status. For tax proration purposes, contact appropriate authorities for current information. 2. Resolution of the City of South Bend Redevelopment Commission ratifying and confirming Resolution Ito. G33 with respect to the Z`ionroe-Sariple Development ~.rea, declaring the Dionroe-Sample Development Area to be blighted and approving develapm~nt plait and conditions under tyh.ich relocation payments will be made, Resolution pJo. 635, recorded April 1.6, 1981 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument ho. 8105765. 3. Design Guidelines, Monroe .Sample Development Area, recorded October 20, 1981 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument i':o. 8118582. ~. Resolution of the City of South Bend Redevelopment Commission rec?.eclaring the Illonroe-Sample Development Area to be blsghted and approving a c~evelopntent plan, being Resolution No. bib, -continued- SCHEDULE B Commitment - 1966 Reorder Form Nc. 2289 (Rev. 2/fl9) No. 73876E-60 SCHEDULE $ CONTINUED J t . recorded April 16, 1981 in the Office of the Recorder of. Joseph County, Indiana, as Instrument loo. 8105767. further resolutions recorded t~tarch 6, 1984 in the Office of the .Recorder of Wit. Joseph County, Indiana, as Instruments Tumbered 8404023, 8404024, 8404031, and 8404033 and further recorded May 23, 1985 St. Jose h Count Indiana, in the Office of the Recorder of P y~ 1985 in the as Instrument No. $509691. and recorded. June 18, Office of the Recorder of St. Joseph County, Indiana, as Instrument too. 8511780 and two resolutions recorded October 4, 1985 in the Office of the Recorder of St. Joseph County, Indiana, as Instruments Numbered E521549 and 852155G, recorded biarrh 4, 1986, as Instruments dumber 860471.3 and 8604714, and recorded April 14, 1987, as Instruments tJumber. fl71065G and 8710657, and recorded tsarch 15, 1988, as Instrument Number 8806631, recorded April 19, 1988 as Instrument 170. 8809523, recorded February 24, 1989 as Instrument No. 8904949, recorded March 28, 1989 as Instrument No. 8907465, recorded 7august 25, 1989 as Instrument 1Jo. 8922641, recorded November 14, 1989 as Instrument Igo. 8930424, recorded February 28, 1990 as Instrument 210. 9004773, recorded April 10, 1990 as Instrument No. 9008709, recorded April 10, 1990 as Instrument tdo. 9008710, and recorded April 10, 1990 as Instrument No. 9008711. CONTINUATION Reorder Form No. 3631 (Rev. 3/89) CONDITIONS ANn STIPULATIONS 1. The term "mortgage," when used herein, shall inclu(le decd of u'ust, trust (lccd, ur other security instrument. 2. If the proposed Insured has or acquires actual knowlc(1ge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interests or mortgage thereon covcrcd by this Conuniuntnt other than those shown in Schedule I3 hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed InsurecJ shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Condi- tions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies COmm1lIC(I lol' and only for actual loss incurred in reliance hereon in undertaking in good Caith (a) to comply with the requirements hereol•, or (b) to eliminate exceptions shown in Schedule Q, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount states! in Sch(:dulc A for the policy or policies committed for and such liability is subject to the insuring provisions, the Exclusions from Coverngc and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed lnsurcct which are hereby incorporated by reference and arc made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out of the status of the title to the estate or interest or status of the mortgage thereon covcrcd by this Commitment must be based on and arc subject to the provisions of this Commitment. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or• policies committed for have been insened in Schedule A hereof by the Company, Cllhel' al IhC llille O1 lhC iSSUanCC O1 lhls Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective (late hereof or when the policy or politics committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. IN WITNESS WHEREOF, Chicago Title Insurance Company has caused this Conuniuncnt to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory. Issued by: THE ABSTRACT AND TITLE ,~'Jv~~" CORPORATION OF SOUTH BEND ,`~~; ~!!.SURgy`"'-L~ ~~ ••.~ , 135 South Lafayette Boulevard o:~~ORP~R~ iE`'•,o South Bend, Indiana 46601 '" (219) 233-8258 ~ y,;~' ~ ..... ~1 -, - / ~ -- ~ ~ ~~ ~~:, ~.- l~uthorized Signatory CHICAGO TI'I'L,I; INSURANCE CO)\4PAN'1' fay. ~~~~f ,~, 7 ~ Pre dent ATTEST: d-~u~ Secretary E 2290 ~ ~ :''.. ~;.`, a. i : ~iilr;{ ~ H C~~ EXHIBIT gmericen Lend Title Aasocietion Commitment ~ 1966 COMMITMENT FOR TITLE INSURANCE ISSUED BY 1 1 ~~~ ;~~ ,..-~ . :~.; ; 1 ~! ~;'1'E~1'A1~'I' 'i'I't'LI~ OUAItA NTY CODS 1'A NY STEWART TITLE GUARANTY COMPANY, A Texas Corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Scheduleu e A u on payment ofthe premeums and chaegesitherelotl hereby in the land described or referred to in Sched p all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall ceasesuedwhich'eveeiSrst oscuhs, prtovided hat thetailure to issues ch pot cy policy or policies committed for shat s or policies is not the fault of the Company. Signed under seal for the Company, but this Commitment shall not be valid or binding until it bears an authorized Countersignature. has caused its corporate name and seal to be IN WITNESS WHEREOF, Stewart Title Guaranty Company hereunto affixed by its duly authorized officers on the date shown in Schedule A. STE~~'AI2T TITLE GUARANTY COMPANY //~~7A// , ((((((/// ~, . •*.••. q =_ President Chairman of the Board ,` Q~. • Ppoq •qy~ CounTersigned by: ~ 3' ~~`o * ~T~o,.~ ?:~~ 1908 :o Jv,c : i .Tim Authorized Signatory pawn M. Brook Company City, State t ~_.- Com Your SCHEDULE A ment No. of 7t^Rr-91 Effective Date of Commitment: April 16,-1990 at eight o'clock A.M. City of South Bend Prepared For: Department of Dconomical Development 1200 County-City Building South Bend, IN Robinson Attention: Hedy L• Inquiries Should be Directed to: Amount 1, Policy or Policies to be issued: la) ~ ALTA Owners Policy 1987 Proposed Ensured: South Bend Redevelopment Authority (b) ^ ALTA Loan Policy 1987 $ 1,000.00 s Proposed Insured: The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple. 2. 3, Title to said estate or interest in said land is at the effective date hereof vested in: City of South Bend located in the County of St. Joseph i s q The land referred to in this Commitment nd described as follows: Indiana a State of s the Townhe Numbered Twenty-thr a ) recorde now City to p, art of Lot n dditio P a line running as t of Denniston an d b l d e l follows• y a e P boun i art of South Bend, which p es t 3 inches o ith rthe o f So uth Street in at a point 45 fee e Beglnn g n of the Soutt ds to i w ublic a p o ence South 7 ro by the intersect f Columbia Street; f 45 feet West line o South Stree lle ; thence West along the NOthh linee of a Y he Sou e thence t ac h thence North 7 rods to t line of South Street 45 feet to e p t East along the South of beginning . Page 2 ~~1']~'~ti ART TITLTt~ GUARA1~Tl' COTSPAtdl' ..,.~' IR.v G:fi71 SCHEDULE A ~Commitrrient No. 8126>3G-91 our No Effective Date of l.ommi[meni. April 16, 1990 at eight o'clock A.M. City of South Bend Prepared For: Department of Economical Development 1200 County-City Building South Bend, IN Attention: iiedy L. Robinson Inquiries Should be Directed to: 1. Policy or Policies to be issued: la) Q ALTA Owners Policy 1987 Proposed Insured: South Bend Redevelopment Authority (b) ^ALTA Loan Policy 1987 Proposed Insured: Amount $ 1,000.00 s 2. The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple. 3. Title to said estate or interest in said land is at the effective date hereof vested in: City of South Bend 4 The land referred to in this Commitment is located in the County of St . Joseph State of Indiana and described as follows: A part of Lot Numbered Twenty-three (23) as shown on the recorded Plat of Denniston and Fellows Addition to the Town, now City of South Bend, which part is bounded by a line running as follows: Beginning at a point 95 feet 3 inches West from the corner formed by the intersection of the South line of South Street with the West line of Columbia Street; thence South 7 rods to a public alley; thence West along the North line of said alley 45 feet; thence North 7 rods to the South line of South Street; thence East along the South line of South Street 45 feet to the place of beginning. ?552 IRev.6/671 Page z S7`E~ITARZ` TIZ`LE GUARANTY CObtPAN1' SCHEDULE B 81268G-91 Commitment No. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the some are disposed of to the satisfaction of the Company: A. Instruments necessary to create the estate or interest to be insured must be properly executed, delivered and duly filed for record. g, Payment of the full consideration to, or fontselev d a d asse9sedtagainst,soubjecgt psemoesd,bwhich aee C. Payment of all taxes, charges, assessme , due and payable should be made. D. Defects, liens, enatia hint subsequent tootl eseffe~t verdate hereof but prioat o the datetherproposed public records or 9 Insured acquires for value of record the estate or interest or mortgage thereon covered by t is Commitment. E. Any Owner's Policy. issued pursuant hereto will contain under Schedule B the General Exceptions set forth below. Any Loan Policy will contain under Schedule B General Exceptions 1, 2 and 3 unless a satisfactory survey is furnished; General Exception 4 will appear unless satisfactory evidence is furnished that bo and materialmen are all poidalterations thereto ore completed; that contractor, sub- contractors, la General Exceptions: 1 . Rights or Claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any Lien, or iaw a d nlot shown by the publ~rreco ds.erial heretofore or hereafter furnished, imposed by 5. Taxes or special assessments which are not shown as existing liens by the public recor s F. Special Exceptions: 1. 45 W END E 1/2 DENNISTON & FELLOW SUB OF W 1/2 LOT ear 1989 due in May and November, 1990, show Taxes for the y none due at this time. Tax Unit 18 Key 3026 0938. Land Val. $not available; Imp. Val. $none; Net Val. $none. Taxes for the year 1990 due in May and November, 1991. NOTICE: Above information, from County's tax computer, is for limited purposes only, and may not reflect current assessment figurest o a erompiate Sauthoriti sr for pr~urrent purposes, contac pp P information. 2. Resolution of the City of South Bend Redevelopment Commission ratifying and confirming Resolution No. 633 with respect to the Monroe-Sample Development Area, declaring the Monroe-Sample Development Area to be blighted and approving development plan and conditions under which relocation payments will be made, Resolution No. 635, recorded April 16, 1981 in the Office of the Recorder of St. Joseph. County, Indiana, as Instrument No. 8105765. 3. Design Guidelines, Monroe.. .Sample Development Area, recorded October 20, 1981 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 8118582. -continued- 2653-B ;5M 7-86) STE~~'ART TIT~.E GUARANTY COAIPANI" CONTINUATION SHEET SCHEDULE B ~~ Commitment Number: Order Number: 81268G-91 4. Resolution of the City of South Bend Redevelopment Commission redeclaring the Monroe-Sample Development Area to be blighted and approving a development plan, being Resolution No. 636, recorded April 16, 1981 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 8105767. Further resolutions recorded. March. 6, 1984 in the Office of the Recorder of St. Joseph County, Indiana, as Instruments Numbered 8404023, 8404024, 8404031, and 8904033 and further recorded May 23, 1985 in the Office of the Recorder of St. Joseph County, Indiana., as~Instrument No. 8509691 and recorded June 18, 1985 in the Office of the Recorder of St. Joseph County, Indiana, as Instrument No. 8511780 and two resolutions recorded October. 4, 198.5 ,in the Office of the Recorder of St. Joseph County,. Indiana, as Instruments Numbered 8521549 and 8521550, recorded March -4, 1986, as Instruments Number 8604713 and 8604714, and recorded April 14, 1987, as Instruments Number 8710656 and 8710657, and recorded March 15, 1988, as Instrument Number 8806.63:1, and, recorded April 19, 1988 as Instrument No. 8809523. Page S~'EWAFtT TITLE OIIARANTT COMPA N\' 2655 ;S AA 4-87j CONDITIONS AND STIPULATIONS 1. The term mortgage, when used herein, shall include deed of trust,. trust deed, or other security instrument. 2. If the proposed ..Insured has or acquires actual knowledge of any defect,. lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and •shall fail to disclose such knowledge to the Company in writing, the Company shall be .relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. (f the proposed Insured shall disclose such knowledge to .fhe;~ Company, or if the Company otherwise acquires actual knowledge of any stash-defect, lien; encumbrance, adverse claim or other .matter, the Company,;, at; , irs option may amend Schedule B of this Commitment accordingly, but;~such amendmentshall not relieve the. Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations... ,., ,.. ; 3. Liability of th,e C_ot~nPany under this Commitment shall be only to the. named proposed Insured acrd°such parties included under the definition of Insured in the form of policy or poli'cies~ committed .for and only .for actual loss. incurred in reliance hereon in.undet'taking in good faith (a} to comply with the requirements hereof, or (b} to elimtr~a_te exceptions shown in Schedule B, or (c} to acquire or ~~~_~ create the estate or interest or mortgage thereon covered by this Commitment. In no event shall suchaia~biliay exceed the amount stated in Schedule A for the policy or policies committedaror and such liability is subject to the .insuring provisions, the Conditions and.Stipu-lations, and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are. hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any ,action or actions ar-`rights of action that the proposed Insured may have or may bring agai,nstahe Ccrm`pany arising out of the status of the title to the estate or interest or the ;status~i3f,,Y.fae -mortgage thereon covered by this Commitment must be based on and are sublect-to the provisions of this Commitment. •~~` ~ .•. ~'4T~ J~~A ~~ r~ 1 1, 1J E GUARANTY CODfPAI`TT All notices required t©'=be grveri the .Company and any statement in vvriting required to be furnished the Company shall be addressed to it at P.O. Box' 2029, Houston, Texas 77252..