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HomeMy WebLinkAbout1993-02-05 Resolution 70• • RE~QLUTIaI~t I40. ~~ RE~~7LUTIQI~i OF~ T~iE SaUTH BENS I~EISE~`EI;C~P~EI~'I`" ~,UTHf3RT:TY APPROVING. TFiE E~E~UTI.Q~i ty~` A SE~I~ ADDE~II)UM TQ THE LEASE: F'OR THE AIRPQR'I EG~3C}~I DEVEL+~P!NIENT ARFj3, T~St°A~tr.i~ APiZ~ PUBL.IG ~LKPR£7~IE~'~T" PEQJ~~I" ~~ WHEHEP,~E, the ~auth Bend. Redeve:l.opment P~uthar.tgx ~ the '''~,ra.t~xc~rity°b°' ) p~evic~usl~ ent~rec inter a lease between the. Autho~rsty and.. ~ S.aut2~ Bend Reclev~elapment C~amzafs.ss.c~n. { th:e, ''Ceamattssi.c~n~') dated as df Aus~us~t 1, ~.~~~, as ar~erxded" bar aai addendaiu~ dated:. Uecem~er l,' 193U, ~ the Lease and. the: add~ndcua~. G~xlleetively referred to herein as the:."Leaae" } pt~rs~an.t tc3a. w¢h..7eh thee: Atxthor.t~ M7i~llnlea~e. eert.airx. land. and... 1TtCjprQVeifteI~tS. 1 411e it .6rQ~e~tik~ tQ tiLe 1.~Q~ss~..Q1np a~~.d. WHEREP~.S::, the, ~+uthori.ty desires to apprave. and:. exea~tte: a second.. a:ddez~dum ter; the: Lease {the. "Second. ~dd~:~ts~zam" } , a caper of w!hi~h: is. attached heret.cr as E~xibit "A" , ref lectizxg a ehan izi the. ccrmrrtencei-ment date of the Leases and.. Pra~edt: ~escrptian: amcan~ €~ther it~ns. NQ4d f TT3E}~EE'QEtE, ~E IT' RE~QI;VED EY THE. St7U BEI4~ R~fEVE~~ME~T AUTHQRI.TY AS FQLLC7FIS s 1. The Lease shall.. be amended: to change: the c+encnent: date of the. Lease and: ~:~~ Prdjact d~*script:.mn and. cyth.er. items as set Earth in.. Exhibit "A" hereto. ~ . All remaix~a..xu~ terms,. ca~~aenants and cand;tians: as set Earth. in. the Lease shall retain in full Pearce. and. ef.feet:.. 3. Thee. President and Secretary caf the ~iuth~ax. are her~ebp authorized and. dirr~ezted tea. exeeute. and.. attest, respectively, the_ See:Qnd ~,d,dendu~. attached. her.etca- as. E~hilait "A¢` . 4. This resolution shall be in. full f`e~re:e axrd effect a:Eter i.ts adeaptian by' the: ~utharty-. ADt3PTEIJ at a meeting caf. the S~auth. Bend. R~dev~lapnt: Au.thear.ity held ctn Eebrua~ ~, 1993, at 13x8 Cea~nt~-Cites Buildi.ns~~ 22Z ~de:st. ,7effersean Bexu:levard,. S.c~uth, B.end,. Indiana: 4~6.G~1., sauTx B: REI~i z~~E AUTHQR;I ~c.. s~: Jtas h ~l oZale~rski, Pxes:idexat ATT Tz • Donald K.~ Fewell, Secretary • R;ESE)2/R-AiIRP2 ~~ ~~~ r ~,- ~, ,~ ,, :~ b ~ ~ t 1 . a ~ f ~ -1 ;'~i ~ ~ . ~ ~> r ~ . , Y .. ~ ~ IJ 9~3J4924 ~ SECOND ADDENDUM TO LEASE SOUTH BEND REDEVELOPMENT AUTHORITY TO SOUTH BEND REDEVELOPMENT COMMISSION. (Airport Economic Development Area Public Improvement .Project and Taxable .Improvement Project) ~=i~.- - •--- ,a~ _ ~`~H ~± , - `~) THIS SECOND ADDENDUM, made and 'entered into this 5th day of February, 1993, by and between the South Bend Redevelopment Authority, a body corporate and politic organized and existing under Indiana Code 36-7-14.5 (hereinafter:with its successors and assigns referred to as the "Authority"), and the South Bend Redevelopment Commission, the governing body of the South Bend Department of Redevelopment and the Redevelopment District of South Bend, Indiana (hereinafter called the "Lessee"), WITNESSETH • In consideration of the mutual covenants herein contained it is agreed that the Lease (Airport Economic Development Ar°a public Improvement Project and Taxable Improvement Project) previously entered into between said parties as of the first day of August, 199, as amended and restated on December 1, 1990, shall be further amended as follows: 1. Section 2 of the Lease shall be and hereby is amended to read as follows: Section 2. Lease of Project. In consideration of the rentals and other terms and conditions herein specified the Authority does hereby lease, demise and let to the Lessee the Project: TO HAVE AND TO HOLD the same with all rights, privileges, easements and appurtenances thereunto belonging,. unto the Lessee for a term beginning on the date of execution of this Lease, and ending on the day prior to such date .twenty-two (22) years thereafter. However, the term of this Lease shall terminate at the earlier of (a) the exercise of the option_to purchase by Lessee and payment of the option price, or (b) the payment or defeasance of all obligations of Lessor incurred (i) to finance the cost of the leased property, {ii) to refund. such obligations, (iii) to refund such refunding obligations, or (iv) to improve the leased. property. The dates the Tax-Exempt Project and the Taxable Project are complete and ready for use shall be endorsed on this Lease at the end hereof by the parties hereto as soon as the same can be done after such completion-dates and such endorsement shall be recorded as an addendum to this Lease. The Authority hereby represents that it is possessed of, or will acquire, a good and indefeasible estate in fee simple or an insurable right-of-way easement subject only to Permitted Encumbrances, to the above-described real estate, and the Authority warrants and will defend the same against all claims whatsoever not suffered or caused by the acts or omissions of the Lessee. 2. Section 14 of the Lease is amended by deleting the entire text of said Section 14 and substituting the following as the text of Section 14: Section 14. Option to Purchase. (a} Tax- Exempt Project. The Authority hereby grants to the Lessee the right and option, on any rental payment date, upon thirty days' written .notice to the Authority, to purchase the Tax-Exempt Project at a price equal to the amount required to enable the Authority to provide for the redemption of all outstanding Tax.-Exempt Bonds, all premiums payable on the redemption thereof, and accrued and unpaid interest thereon, and to pay the cost of redeeming the Tax-Exempt Bonds and liquidating the Authority if it is to be liquidated. If the • Lessee exercises it option to purchase the. Tax-Exempt Project, the Lessee shall pay to the Trustee that portion of the purchase price which is required to provide for the payment of all Tax-Exempt Bonds, including all premiums payable on the redemption thereof, accrued and unpaid interest thereon and costs of redemption thereof. Such payment shall not be made until the Trustee gives the Lessee a written statement that such amount will be sufficient to retire all Tax-Exempt Bonds including all premiums payable on the redemption thereof and accrued and unpaid interest. The remainder of such purchase price, if any, shall be paid by the Lessee to the Authority. (b) Taxable Project. The Authority hereby grants to the Lessee the right and option, on any. rental payment date, upon thirty days' written notice to the Authority, to purchase all of a part of the Taxable Project. If the Lessee determines to purchase alI of the Taxable Project, the purchase price shall equal the amount required to enable the Authority to provide for the redemption of all outstanding Tax-Exempt Bonds, all premiums payable on the redemption thereof, i and accrued and unpaid interest thereon, and to pay the cost of redeeming the Tax-Exempt Bonds and -2- ~~ liquidating the Authority if it is to be liquidated. The Lessee shall pay to the Trustee that portion of the purchase price which is required to provide for the payment of all Tax-Exempt Bonds, including all premiums payable on the redemption thereof, accrued and unpaid interest thereon and costs of redemption thereof. Such payment shall not be made until the Trustee gives the Lessee a written statement that such amount will be sufficient to retire all Tax-Exempt Bonds including all premiums payable on the redemption thereof and. accrued and unpaid interest. The remainder of such purchase price, if any, shall be paid by the Lessee to the Authority. If=the Lessee determines to purchase a part of the Taxable Project, the purchase price shall be equal to the amount determined by the Authority to be required to redeem a corresponding amount of the outstanding Taxable Bonds, including all premiums payable on the redemption thereof, accrued and unpaid interest thereon and the costs of redemption thereof. The Lessee shall pay to the Trustee that portion of the purchase price which is required to provide for the payment of the amount of the Taxable Bonds identifying by the Authority including all premiums payable on the redemption thereof, accrued and unpaid interest thereon and the costs of redemption thereof. Such payment shall not be made until the Trustee gives to the Lessee a written statement that such amount shall be sufficient to retire the amount of Taxable Bonds identified by the Authority including all premiums on the redemption thereof and accrued and unpaid interest. The remainder of the purchase price, if any, shall be paid by the Lessee to the Authority. Upon request to the Lessee, the Authority agrees to furnish an itemized statement setting forth the amounts required to be paid by the Lessee on the next rental payment date in order to purchase the Tax-Exempt Project and/or all or a part of the Taxable Project in accordance with the preceding paragraphs. Nothing herein contained shall be construed to provide that the Lessee shall be under any obligation to purchase the Projects, or under any obligation in respect to any creditors or bondholders of the Authority. If the Lessee has not exercised its option to purchase the Tax-Exempt. Project or has not exercised its option to purchase all. or part of the Taxable Project, at the expiration of the term of the Lease and upon the full discharge and performance by the Lessee of its obligations under -3- this Lease, the Authority shall execute a deed of the Tax-Exempt Project and all or the remaining part of the Taxable Project to the Lessee conveying good and merchantable title thereto, subject only to the Permitted Encumbrances. 3. Exhibit B to the Lease - Taxable Project Description - shall be and hereby is amended by amending the scope of the work to be performed under (1) of Exhibit B to provide as follows: (1) The engineering design of Northwest Loop Improvements in the City of South Bend consisting of the design of approximately 1100 linear feet of U-shaped roadway separated by a 120 foot grassed median located=along the new alignment of Old Cleveland Road, (the overall width to be 40"-0" from back of curb to back of curb and the proposed curb and gutter section is 2'-0" with a curb height of 6 inches), lighting, extension of water and sewer lines and appurtenant work, all of such construction and related improvements when made, to be made on the following described real estate acquired or to be acquired by the Authority: with the Northwest Loop Description contained at (1) of Exhibit B to remain unchanged. 4. Exhibit B to the Lease - Taxable Project Description -.shall be and hereby is amended by adding four (4} additional. parcels of land and any improvements thereon situated in St. Joseph County, Indiana, and needed in connection with local public improvements to be constructed in the Airport Economic Development Area, to (2) of Exhibit B which shall be added as paragraph (k), which shall read as follows: (k) (1} Lot 5 - A parcel of land in the Northeast Quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph .County, Indiana, and described as being Lot 5 of the Toll Road Industrial Park - Section Three, recorded under instrument number 8717304, dated June 5, 1987 at the office of the Recorder of St. Joseph County, Indiana, and containing 2.3634 acres, more or less, and is subject to all easements, restrictions and covenants of record. (2) Lot 11 - A parcel of land in the Northeast Quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, and described as being Lot 11 of Toll Road Industrial Park - Section 6, as recorded under instrument number 8908570, dated April 7, 1989, at the office of the Recorder of St. Joseph County, Indiana, and containing 3.7178 acres, more or less, and is subject to all easements, restrictions and covenants of record. -4- I (3) Lot 15 - A parcel of land in the Northeast Quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, and described as being Lot 15 of Toll Road Industrial Park - Section 6, as recorded under instrument number 8906570, dated April 13, 1989, at the office of the Recorder of St. Joseph County, Indiana, and containing 14.5683 acres, more or less, and is subject to all easements, restrictions and covenants of record. (4) Lot 18B - A parcel of land in the Northeast Quarter of Section 21, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana, and described as being Lot 18B of Gainey's Replat of Lot 20 - Section One and Lot 18 - Section 6 of the Toll Road Industrial Park, as recorded under instrument number 9029253, dated October 19, 1990, at the office of the Recorder of St. Joseph County, Indiana, and containing 33.1433 acres, more or less, and is subject to all easements, restrictions and covenants of record. 5. Exhibit C to the Lease - Tax Exempt Project Description - shall be and hereby is amended by deleting the description, under (2) of Exhibit C, the Brick/New Cleveland Road construction, as one of the items of which the Project consists, and substituting at (2) of Exhibit C, the following: ~~ (2) The construction of Quality Drive Road Improvements in the City of South Bend consisting of th°e construction of approximately 1000 linear feet of roadway terminating in a cul de sac. The right of way to be sixty feet (60') wide, meeting the City of South Bend standard for a "Collector" street. Pavement to be thirty-six feet (36') back to back of curb. The pavement will be concrete. Traffic lanes for acC`eleration and deceleration of entering and exiting vehicles to be constructed at Quality Drive's intersection with Brick Road. Storm sewers to be constructed to drain the roadway to a natural depression near the north end of the roadway. Extension of water lines and appurtenant work,. all such construction and related improvements to be made on the following described real estate acquired or to be acquired by the Authority: QUALITY DRIVE ROAD DESCRIPTION Sixty foot right-of-way in Landmark Business Park in the North half of Section 19, Township 38 North, Range 2 East, City of South Bend, German Township, St. Joseph County, Indiana as recorded under instrument number 9238271, dated October 14, 1992, in the Office of the Recorder, St. Joseph County, Indiana. -5- Exhibit C to the Lease - Tax E~€e~npt. Project Description. - shall. be and hereby is azr:ended by adding: an additional item tee the list of items. of which the Project consists:., paragraph (5.1} which shall read. as f ollowsz i• • (5.1) `rhe engineering design wQr~k for Redesigned Realigned Old Cleveland Road., Phase I:I. (Section 4) consisting of preliminary engineering desigza, final construction drawings, preparation of s~7ecificatians and.. bid packets and. appurtenant ~~oxk, all. such engineering. work for public improvements to be made an. the fall.awing described real estate acquired or to be acguired~by the Authority: IcEL1ESIGNEI7 REr'~LT.C OLD CLEVELZ~NI3 RQAD PHt~,SE II (SECT.1t~N 4.} DESCRIPTION:. .~ pant of the:. Southeast Q.txarter ( SE 1i4 } af. Section 2 C! , tho S+auth Half ( 5 1-/ 2 ) of Section 2 Z , and. the. Northeast- Quarter ( NE 1f 4 } of Section 28, Township 38 North, Range 2 East, German Township, St. Joseph. County, I.ndanaP and more part.cularlg described as follows. Commencing at the Southwest corner of the Southeast Quarter (SE 1/4) of Section 20; thence Plorth 00°19'53" West,- along the West line of said Quarter Section, 21.35.00 feet; thence North 89°40'Q7" East 78.50 feet to the True Point of Beginning of this ciescripti.on; thence North 00°19'53" West 4:0.00-feet., thence. North 89°40'07" East 1185.91 feet to the point of curvature of a tangent curve to the right having a radius.a~ 1640.00 feet, and:. a. central angle: of 30°1.9' 4b"; thezzce southerly' and. easterly along said. curve: 888..13 feet; thenc;e.South 6.Q°00'07°' East. 3:378.29 feet to the point of curvature of a tangent curve to Left,. having a radius. of 15.60..x}0 feet and a ~:entral angle. of 30°38`4.7"; thence southerly and. easterly along said curve 834.41 feet; thence North 89°21'06" East parallel to the South line of the Southeast Quarter. (SE.1/4) of Section 2.1, 286.57 feet. to the East.line of the property described. as Parcel I of. i7eed Record. 7818352.,. recorded the 25th day of August, 1978, of the Records of St. 3aseph County, Indiana; thence South. 00°38'54" East. along said. line., 46.00. feet-,. to the South. line of said. Se.ctic~n 21; thence. Sau.th. 89°21.`06" West, along the: South. line of said Section 21, 501.00 feet to the West. line of Airport Industrial Park., Phase 1V ; thence South ©0°38'54" East along said. line, 20.00 feet to the. aou.th. Right-of-Wag of. Old Cleveland.. Road.; thence. South. $9°21'06" West along said Right-af-Way -6- 329.00 feet to the Went line: of the. Nart.heast. Quarter {NE. 1.,~4) of Sec.tian: 28.; thence Sauth 89°22' 17" .West. along said. Right-of-Walr 2Q5.00 feet.; thence. North 00°37'43." West 166...53 feet to the paint. of curvature of a.curve t:a the right having a radius of 1.640.00 feet, a chord bearing Nc3rth 61°45'00" West.and.a sherd length of 100.05 feet; thence northerly anal. westerly along said curve. 10.0.07 feet; thence North 60°00'07" West 3378.2.9 feet to the paint of curvature of a tangent curve to the left having a radius.af 1560.00 feet, and.a central angle of 30°19'46"; thence. northerly and. westerly slang:. said. curve 825.78 feet; thence South 89°4.0'07" West 12.85.91 feet; thence North 00°19'53" West 40.00 feet to the Paint cif Beginning.. Containing 12.48 acres., mere or less. 7. Exhibit. C to the. Lease - Tam-Exempt Project.Desc~riptian - :~nall be and hereby i.s amended by adding an additi.on.al. item to the. list of items. of which the Project consists, paragraph (7) which. shall read as follows: i• (7) The engineering design wank.fa.r the. Sludge Farm Access Road cansis:tirxg of prelimi.na:ry engineering design, final canstrueti.an drawings:, preparation of specifications anal bid packets and appurtenant work, al]_ such engineering work.far- public improvements to be made, when made, an the. following describdd.real e.stat.e acquired or to be acquired by the Autkzarity: SLI3DGE FARM ACCESS. Rf~AD A parcel of land., located in the South half.{S l.J ~ } of the Sauth~rest Quarter ( SW 1f 4 ) af. Sectie~n 21, and the. North Half { N 1/ 2 } of the. Narthsr,~est Quarter {1/4} of Sectian:28, Township 38 North., Range 2 East, German Township, St. Joseph County: T.ndiana, anal mare paxticularly described. as follows: Canune.nci.ng at the Southwest corner of Section 21; thence: North 89°22.'17" East 1351..22 feet; thence Sau,th 00°37'4.3" East 20.00 to the South Right-of-Way of Csld Cleveland Raad and. the. True:. point of Beginning of this des:criptian; thence South 89°2.2'17" West, parallel to the North line of the Northeast Quarter. (NE 1/4) of: Sect.ian 28 ,. 30.110 feet; thence North 00°37'3" West X5.00 feet. to the point of curvature. of a tangent curve: to the right, having a radius. of 1307.31 feet and a. central angle of 30°37'37"; thence northerlg and. easterly a.l©ng said curve. x98.81 feet to the South Right-of-Wad of E. Jay Nizntz parkway {NIMTZ..) -7 - thence South. 60°00'07" East. along said Might.-of--Way, E0.00 feet to the poi.rst of curvature of a curve to the left., having a radius: of 12~7.3I fe€~t, a chord. bearing: of South 14'41' 05" West and ~~ chord. length of 65:8.82.feet; thence southerly and westerly along said curve 6.66.73 feet; thence. South 00°37'43" East 5.00 feet to the. South Right-of--Way of ald Cleveland Road.;: thence South. 89x22'1.7" West, par~al.lel to the.NCrth line of said quaxter section., 3:0.00 feet to the. Point of Beginnir~.g. Containing 1..02 acres, more or Less.. and also ~, parcel of land.,. located in the South. half. { S. 1 / ?_ } of. the Southwest puarter { SW 1,~ 4 } of Section, 2 ~. , and the. North. Half { N 1 / 2 } of the. Northwest ~ua~:t.er {l.f ~} of Section. 2.8, Township 3.8 North., Range: 2 East., German. Township, St. Joseph County,. Indiana, and more particularly described as follows.: ~ommenc.ing at the Southwest corner of SeGti.on 21; thence North 89°22'17" East along-the South line of said Section 21, 1.381.22 feet.. to the: East. line.. cif the above-described parcel a.nd the True Point of Beginning of this description; thence South 00°37'43'" East 20.00 feet; thence North 89°22'17" East, parallel to thQ SQUth line of said Section 21, 82.05 feet to the point of .curvature of a tangent curve to the left, having a radius of ~i0. Q0 feet and ~; central angle of 240°'00' 00"; thence be.ginni.~xg nr~rtherly and easterly along said. curve 251:..33 feet to the point of cur~aa.ture: of a. taxzgent. curve. to the. right, having: a.r.adius.of x.00.0(} feet and a, central angle: of 60°00' 00"'; thence southerly and westerly along said; curve 104.72 feet,..thence Saut.h 8g°2.2`1.7" West., parallel to the South line of said Section, 21, 686.49 feett,. thence: youth 00°37'43" East, along the East line of the above-described;. parcel.,. 20.00 feet to the Paint of Beginning. Containing 1.0 acres, more or less. 8. The. parties hereto. acknowledge tYtat all remaining terms..,. covenants, and corsditions as set forth in the Lease between the: parties. hereto and executed. as of the first. day of August, 1.990, shall. remain. in fu11 force.. anal.. effect. r~ 3N WITNESS WHEREt7£, the parties hereto have caused this S~corrd Addendum to Lease to be exe.ctated for and on their behalf- on the day • and year first hereinabove writ:tdxx. SOi7TH FEND REDEVELQPFgENT A~.TT~fORITY B y : ~ 7 `~ A' EST. Jos h oblewslsi, President ~onaid Fcwel.l, Se.~.retary ATTEST: ~ ~~,, Theo F. Sharp`, Secru "ary STATE OF INDIANA ) SS: COUNTY OE ST. JOSEPH ) SOU ~ J~~ REDEVELQPI~E~ COMMISSION Paula.3.V. Auburn., President. Before. me, .the undersigned, a Notary Public in and for said mall a earesi Joseph Wrohl.ewsl~i. and.. Donald..: Fewell, State, perso y pP personally knQ~nx. by me tc~ he the President and.. Sedretary, respecti.ve:ly, of th:e South Bend. RedeErelop~nent Authvr~s.ty, anal. acknowledged. t:h.e. execution:. of th.e foregc~ing_ Seeca~ad Addendum to. Lease. for and. on. behalf of said. Author.i.ty. WITNESS my' hand and Natar~..a.l Seal. this 5~~-- day of ~-~~-~~~~- ~.993. ~~~~~~ `~; ~'rE . i. . ~ ~~ S! ~ ~ . ~ 3ti d / ~. A , ~ ~ : ~ 3 :4 4 ' ~ { 2 S .L7 Mme' * 7 y tl -r',, (written. Signature? Printed Signature} I am a resident. of . St. Joseph. County, Indiana.. -9- ~~ . STATE, OF TnDTANA. } • ) SS: Ct3~Tn2'Y OF S"i'. JOSEPH } .~ Before me, the undersigned., a notary Public in and fc~r.. said.. atats, personally appeared Paula n. Auburn and Them A. Sharp, personally knoum by me to be the President and Secr.:etary, respectively, of the South. Bend.. Redevelopment Ccammi.s:s.ic~n, and. acknowledged the execution.af the foregoing Second Addendum tQ Lease. for and on. behalf of said. Commi.s:sion WT~.L'nESS my hand anc~. notarial.. Seal this `~ /t day raf ~~-,~ ~~ "~.K_. , 1993. / ~ a uPr{7Ry1 , - r~ r~ . r ~ti~~~-spires e 5~:~'1L~:en~ ":1..gi1a~'.u~e } ~Print.ed Signature.) I aIl7 ~. resident. of St. ,7os~ph Coun-~y, Indiana, This instrument. was pre.pareri bar Jenny Pitts Manier, Chief Assistarst City Attorney, 14t~0 County-City Building., South Bend, TILT 466U1. JPM/RES02./A-AI.RPQRT -10-