HomeMy WebLinkAbout6.B.(1) Memorandum of LeaseYIAIL, TO:
City of South Bcnd- Indiana
Dept. of Redevelopment
227 W. Jefferson Bled, Ste 1200
South Bend. Indiana 46601
MEMORANDUM OF LEASE
This Memorandum of Lease is to eeidence that on the 17th day of August. 2007. the
South Bend Redc~~clopment Commission. the governing body of the Department of
Kede~clopmcnt or the City of South Bend- Indiana, as Lessor- did enter into a Lease with
Kcv S.B., L.L.C, a Michigan limited liability company. as Lessee- for real estate located
in the Cite of South Scud, St. Joseph Counn~. Indiana, more particularly described in
Exhibit A, attached hereto and made a part hereof.
That the initial term of said Lease is I-or Twenty Fivc (25) years. commencing on October
3. 2008. with one optional One 11) year rcne~al term at the end of-the initial term- unless
sooner terminated according to the terms of said Lease.
1~hat the lease contains an option to purchase ~~~hich may be exercised b~~ the Lessee at
any time prior to the expiration of the initial tens or rene~~~al term according to the terms
of said Lease follo~~°ed by a remainder interest in favor of the Lessee.
I~;xecuted this 3rd day of October. 2008.
LESSI?I?. KEY 5.13., L.L.C.
~~`
Caranci. Agent
LESSOR SOUTH BENll RF,DEVELOPMEN'I'
COMMISSION, for and on behalf of the
a.. c, ;u~,. nerd. ndi.. - _ ,~a t'. -
Rede~~elopment
Bv:
Marcia I. Jones. President
AT1-F.S"I
Gregory S. Do«nes. Secretary
STATI? OF MICHIGAN )
SS:
COUNTY OF KALAMA7OO )
Before mc, the undersigned, a Notary Public in and for said County and State, dais~~>,_
day of October, 2008, personal]}~ appeared Roger E. Hinman, personally known to me as
a duly authorized member/manager of Key S.B., L.L.C., and acknowledged the execution
of the foregoing Memorandum of Lease for and on behalf of said Company.
'.I~ WFfNESS \~JI IEREOF'. 1 ha~~e hereunto set my hand and of{lxcd m~~ of~iicial seal.
!SEAi.?
My Commission Expires:
/_] ~/{
C~ /~ jam( i` ~ ~~F ~ 1 /~~ ~- i /~ F ~f~ ~~. / ._~
(/ .Notary Public
Residing at ~ C~~h2~7~? _
ERIN K. NADRASIK
Notary Public. SKalamazoo 9~
County
My Commission -~^ "-~ ~t y_ 09, 2Dt 5
Acting in the C~ ~~~
s~r,a~fr, of tNI~LnNn ~
ss:
couN~rY or s~r..IOSEPII >
Before me, the undersigned, a Notary Public in and for said Count}' and State. this _
da}~ of October, 2008. personally appeared Marcia 1. .cones and Gregor~~ S. Downes.
personally kno~~~n to me as the: President and Secretary. respectiy~el~~. of the South Bend
Redevelopment Commission, the goycrning bod} of the Cite oS~ South Bend. lndiana.
Department of Rede~°elopment, and ackno«led~aed the execution of the foregoing
Memorandum of Lease for and on behalf of said Cite.
IN WITNESS WHEREOF. 1 have hereunto set m.' hand and att3xcd m~~ oiticial seal.
(S:~.AL;
My Commission Expires:
. Notary Public
Residin~~ at
This intitrument ~cas prepared b~ Ln~crence I. A1eteicer. Assutant Cite Attomee I-}00 C'ountc-Cite [3uilding. 227 V1, Ieficrson l3kd_
South Bend. Indiana ~3G6oL 1~7~1) 2. 5 ~)29~1.
I affirm. under the prnaltie; for perjure that I h~a~c taken mEUOnahle care to redact each Social Security number in this ducumenL
unless required b~ la~~. La~~rencc I A1ctcicer.
Exhibit A
Legal Description
EXHIBIT A
Lc;al Ucscriptiou of Propert~~
Part of Lots 57 and 5g_ Original Plat of South Bcnd. St. Joseph County. Indiana..
described as follo~~~s:
Be<ainnin~ at the North~o~est corner of Lot 58; thence North
89°38~45~ 1`.ast on the North line of said Lot 58, a distance of
1??.99 feeL• thence South 00°~0'31'~ East Para{{e1 to the Fast line
of said Lot 58. a distance ol~ 85.00 fact: thence N~~rth 8~)°3845'
East parallel to the North line of said Lit 58, a distance of 4?.10
fleet to the West line of a 14 trot alley; thence South
00° ~0~ ~ 1 ~1:ast on the V4'est line of said allc~~. a distance o1~ 14.00
fact: thence South 89°37~ ~>~~ ~~'est parallel to the South line of Lot
57. a distance of 65 J4 Icet; thence North 00°il'S5~" West parallel
to the West line of said Lots 57 and 58. a distance of 6.695 feet;
thence North 89°384>~~ Bast parallel to the North line oC said Lot
58. a distance of 4. ~? feet: thence North 00°,l ~55° Wcst parallel
to the West line <~f Lots 57 and 58. a distance of 47.35 feet: thcncc
South 89°;8~45~~ West parallel to the North line of said Lot 58. a
distance of 36.10 1eeL• thcncc north 00°31 ~55" U'est parallel to the
West line of said Lots 57 and 58, a distance of 6.98 feet: thcncc
South 89°384>~~ West parallel to the North line of said Lot 58. a
distance o1~~.00 feet: thcncc North 46°Ol ~59~~ U'esL a distance of
?1.7,5 feet: thence South 45°19"'9~~ West. a distance ~~f ?1.735
i~ect: thence South 89°38~45~ ~~'est parallel to the North line ~il~said
Lot 58. a distance of ?.00 feet thcncc South O0° ~ 1-55~ Last
parallel to the West line o1 said Lots 57 and 58, a distance of 6.98
fect_ thcncc South 89`3845" U'est parallel to the North line of said
Lot 58. a distance of ,?.4, i~cet to the West line of said Lot 58:
thcncc North 00°31 _55._ ~~'est on the Wcst line of said Lot 58. a
distance ~~f 44.98 fact to the point of beginning.
Common /\ddress: ?0?-?04 S. Michiean Strcct, South Bcnd. Indiana 46601
Tax Id. No. 18-300,-0043