HomeMy WebLinkAboutApproving and Authorizing lease for renovation and equipping of the former O'Brien SchoolORDINANCE No. s~~=99
Passed by the Common Council of the City of South Bend, Indiana
August 9, 19 99
Attest:
Attest: -, ~~
City Clerk
Presented by me to the Mayor of the City of South Bend, Indiana
President of Common Council
August 10, 19 99
City Clerk
Approved and signed by me August 10 19 ~ 99
Mayor
ORDINANCE NO. I OZ3-~I
AN ORDINANCE OF THE CITY OF SOUTH BEND, INDIANA,
COMMON COUNCIL APPROVING AND AUTHORIZING THE
EXECUTION OF A LEASE FOR THE RENOVATION AND
EQUIPPING OF THE FORMER O'BRIEN SCHOOL FOR USE AS A
RECREATION CENTER AND PARK DEPARTMENT
ADMINISTRATIVE OFFICE SPACE AND REGARDING
CERTAIN RELATED MATTERS
STATEMENT OF PURPOSE AND INTENT:
The City of South Bend, Indiana (the "City"), has previously investigated the
necessity for the renovation and equipping ofthe former O'Brien School for use as a recreation center
and Park Department administrative office space (the "Project"). The City has also previously
investigated alternative methods for paying for the Project. There has been filed with the Common
Council of the City (the "Common Council") a petition certified by the St. Joseph County Auditor,
which petition has been signed by at least fifty (50) owners of real property subject to taxation by
the City and addressed to the Common Council, requesting that the Common Council enter into a
lease whereby the Project will be completed with the assistance of anot-for-profit building
corporation and leased to the City pursuant to the provisions of Indiana Code 36-1-10, as amended.
The City of South Bend Building Corporation (the "Building Corporation")has been
organized as an Indiana not-for-profit corporation for the purpose of constructing and leasing public
improvements to the City. A form of lease between the Building Corporation and the City (the
"Lease")has been prepared and submitted to the Common Council for its consideration. The Lease,
as presented to the Common Council, provides for the lease of the Project for a term not to exceed
seven (7) years (the "Term"). The Term under the proposed Lease would begin with respect to the
Project on the date it is completed. The lease rentals payable under the Lease by the City with
respect to the Project would be an amount equal to $52,196, payable semi-annually on each March
28 and September 28, beginning on March 28, 2000. Lease rentals payable under the Lease by the
City for the Project would be payable on such dates from then current revenues of the City
appropriated for the purpose of making such lease rental payments. As a result, the Projects would
not constitute "controlled projects" as such term is defined by IC 6-1.1-20-1.1 because such lease
rentals would be payable from funds other than property taxes that are exempt from the levy
limitations of IC 6-1.1-18.5.
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF
THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS:
I . The petition of taxpayers of the City filed with the Common Council at this
meeting is hereby approved.
2. The Common Council hereby determines that a need exists for the completion
of the Project and the funds needed therefor exceed the funds presently available to the City.
3. Having held a public hearing regarding the Lease for which notice was
provided in accordance with Indiana Code 5-1-3, the Common Council hereby approves the Lease
in the form presented to this meeting. The Lease with the Building Corporation as lessor provides
for a fair and reasonable rental, and further, the execution of the proposed lease is necessary and
wise. The Mayor and Clerk of the City are hereby authorized to execute and attest, respectively, the
Lease in the form presented to this meeting with such changes as maybe necessary or appropriate
on the advice of counsel with such execution and attestation to evidence approval of such changes;
provided, however, that any such changes may not (i) increase the term of the Lease or increase the
rentals payable by the City under the Lease with respect to the Projects or (ii) alter the scope and
nature of the Project described in the Lease.
4. The Clerk of the City shall cause to be published a notice of execution of the
Lease according to law following such execution.
5. All actions taken to publish the notice of the public hearing regarding the
Lease are hereby approved and ratified.
6. The Common Council hereby approves of the sale and issuance by the
Building Corporation of its lease rental revenue bonds in one or more series in an aggregate principal
amount not to exceed $600,000.
7. This Ordinance shall be in full force and effect from and after its passage by
the Common Council and approval by the Mayor.
COMMON COUNCIL OF THE CITY
OF SOUTH BEND, INDIANA
1st READING 1 -~-~ ~ `~
PUBLIC HEARING ~ ~-q~
3 rd READING ~ ~, q
NOT. APPROVED
REFERRED
PASSED ~ _~ -
::ODMA\PCDOCS\SBDOCS 1\42799\1
By:
Member of the Common Council
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COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
58-99 PUBLIC HEARING ON A BILL OF THE CITY OF SOUTH BEND,
INDIANA, COMMON COUNCIL APPROVING AND AUTHORIZING
THE EXECUTION OF A LEASE FOR THE RENOVATION AND
EQUIPPING OF THE FORMER O'BRIEN SCHOOL FOR USE AS A
RECREATION CENTER AND PARR DEPARTMENT
ADMINISTRATIVE OFFICE SPACE AND REGARDING CERTAIN
RELATED MATTERS
Respectfully report that they have examined the matter and that in their opinion, this bill
is being recommended to the full Council with a favorable recommendation.
Charlotte Pfeifer
Chairman
Stephen J. Luecke, Mayor
Superintendent
Phillip L. St. Clair
235-9401
Administrative Director
Betsy Harriman
235-5596
Director of Concessions
Matthew Moyers
235-7639
Maintenance Superintendent
A. Michael Dyszkiewicz
235-9414
Forester
Brent Thompson
235-9414
Recreation Director
Susan O'Connor
235-9328
Zoo Director
Vicki Roth
235-5549
Fiscal Officer
Bill Carleton
235-9401
Director of Golf
Chad Kilmer
271-9180
PARKS & RECREATION
DEPARTMENT
July 20, 1999
Mr. Sean Coleman
President
South Bend Common Council
Re: An Ordinance Of The City of South Bend Indiana,
Common Council Approving And Authorizing The
Execution Of A Lease For The Renovation And Equipping
Of The Former O'Brien School For Use As A Recreation
Center And Park Department Administrative Office Space
And Regarding Certain Related Matters
Attached for filing is an Ordinance seeking approval of a Lease
between the City of South Bend and the South Bend Building Corporation in
order to finance the renovation of the former O`Brien School for use as a
recretion center and Part Department administrative office space. The term of
the Lease is seven (7) years with asemi-annual rental amount not to exceed
$52,196.
Your favorable consideration is respectfully requested.
Respectfully,
P~/,~ a--
Phil St. Clair
Superintendent of Parks
seg.
J U (. 2 .i 1999
c~~rcLtl,;;, ~o. Ir.~t~~.~, or!.
301 South St. Louis Boulevard • South Bend, Indiana 46617. 219-235-9401 • Fax 219-235-9331 • TDD 235-5567
727 South Eddy • South Bend, Indiana 46615 • 219-235-9328 • Fax 219-235-5566
LEASE
Between
CITY OF SOUTH BEND BUILDING CORPORATION
and
CITY OF SOUTH BEND, INDIANA
DATED AS OF AUGUST 1,1999
(O'BRIEN SCHOOL PROJECT)
TABLE OF CONTENTS
Premises, Term and Warranty .................................................... 1
Semiannual Rental Payments ..................................................... 2
Additional Rental Payments ..................................................... 3
Abatement of Rent .............................................................4
Alteration and Repairs .......................................................... 4
Insurance ....................................................................5
General Covenants .............................................................6
Option to Purchase .............................................................7
Option to Renew ..............................................................8
Utility Service ................................................................8
Transfer to Lessee .............................................................9
Defaults .....................................................................9
Notices .....................................................................10
Successors or Assigns .........................................................10
Construction of Covenants .............................. ....................... 10
::ODMA\PCDOCS\SBDOCSI\41920\1 1
LEASE
CITY OF SOUTH BEND BUILDING CORPORATION
TO
CITY OF SOUTH BEND, INDIANA
THIS CONTRACT OF LEASE, made and entered into as of this 1st day of August,
1999 (the "Lease"), by and between the City of South Bend Building Corporation, an Indiana not-
for-profit corporation (hereinafter with its successors and assigns as provided by this Lease called
"Lessor"), and the City of South Bend, Indiana (hereinafter called "Lessee"),
WITNESSETH:
In consideration of the mutual covenants herein contained, it is agreed that:
1. Premises, Term and Warranty. The Lessor does hereby lease, demise and
let to Lessee the real estate in the City of South Bend, Indiana, more particulazly described in
Exhibit A attached hereto and made a part hereof, and the building located thereon known as the
O'Brien School for which the Lessor will complete certain improvements as described in Exhibit A
(the "Project") all pursuant to plans and specifications prepared by Greg KiI.
The above-mentioned plans and specifications may be changed, additional
construction work may be performed by Lessor, but only with the approval of Lessee, and only if
such changes or modifications, additional construction or equipment do not alter the character of the
Project or reduce the value thereof. Any such additional construction shall be part of the property
covered by this Lease. The above-mentioned plans and specifications have been filed with and
approved by Lessee.
:ODMA\1'CDOCS\SBDOCS 1\41920\1
TO HAVE AND TO HOLD the same with all rights, privileges, easements and
appurtenances thereunto belonging, unto Lessee, for a term of seven (7) years beginning on the date
the Project is completed and ready for occupancy and ending on the day prior to such date seven (7)
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
date on which the Project is completed and ready for occupancy 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 Lessor hereby represents that it
is possessed of a good and indefeasible estate in fee simple to the above-described real estate, and
Lessor warrants and will defend the same against all claims whatsoever not suffered or caused by
the acts of omissions of Lessee or its assigns.
2. Semiannual Rental Payments. The Lessee agrees to pay rental for said
premises as set forth herein. The first semiannual rental installment in the amount of Fifty-two
Thousand One Hundred Ninety-six and 00/100 Dollars ($52,196.00) shall be due on the later of
(a) the day that the Project to be erected on the premises is completed and ready for occupancy, or
(b) March 28, 2000. If completion of the Project is later than March 28, 2000, the first installment
shall be in an amount which provides for rental at the rate specified for the Project in Exhibit B
attached hereto and made a part hereof for the semiannual period in which the Project is completed
and ready for occupancy, prorated from the date of such completion until the first March 28 or
September 28 following such date of completion. Thereafter, such rental shall be payable in advance
::ODMA\PCDOCS\SBDOCSI\41920\1 -2-
in semiannual installments on March 28 or September 28 of each year as provided for in the attached
lease payment schedule at Exhibit B. The last semiannual rental payment due with respect to the
Project before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate
specified for the Project in Exhibit B prorated from the date such installment is due to the date of the
expiration of this Lease.
All rentals payable under the terms of this Lease shall be paid by the Lessee to
Norwest Bank Indiana, N.A., in the City of Fort Wayne, Indiana, as Trustee (hereinafter called
"Trustee"), or to such other bank or trust company as may from time to time succeed said Trustee
under the Trust Indenture securing the First Mortgage Bonds (hereinafter referred to as "Bonds") to
be issued by the Lessor.
All payments so made by the Lessee shall be considered as payment to the Lessor of
the rentals payable hereunder. Such payments shall be made from available funds of the Lessor.
The obligation of Lessee to make such rental payments is a current expense and not to be construed
as a debt of Lessee. Nothing herein shall be interpreted as constituting a pledge of the Lessee to levy
or collect a tax to provide funds for the payment of the rentals payable hereunder. If the Lessee fails
to appropriate sufficient funds to pay the lease rentals for the Project, equal or like facilities cannot
be substituted for the Project. Upon a failure of the Lessee to appropriate such funds for payment
of Project, (i) this Lease will terminate with respect to the Project, (ii) Lessee will take all action to
peaceably transfer possession of the demised premises to Lessor, and (iii) Lessee shall have no
further claim to said demised premises.
3. Additional Rental Payments. The Lessee shall pay as further rental for said
premises all taxes and assessments levied against or on account of the Project and expenses incurred
:ODMA\PCDOCS\SBDOCSI\41920\1 _3_
by the Building Corporation related to the Trust Indenture, including but not limited to fees of the
Trustee. Any and all such payments shall be made and satisfactory evidence of such payments in
the form of receipts shall be furnished to the Lessor by the Lessee, at least three (3) days before the
last day upon which the same must be paid to avoid delinquency. In case the Lessee shall in good
faith desire to contest the validity of any such tax or assessment, and shall so notify the Lessor, and
shall furnish bond with surety to the approval of the Lessor conditioned for the payment of the
charges so desired to be contested and all damages or loss resulting to the Lessor from the non-
payment thereof when due, the Lessee shall not be obligated to pay the same until such contests shall
have been determined.
4. Abatement of Rent. In the event the Project shall be partially or totally
destroyed, whether by fire or any other casualty, so as to render the same unfit, in whole or part, for
use and occupancy by the Lessee, it shall then be the obligation of the Lessor to restore and rebuild
the Project as promptly as may be done, unavoidable strikes and other causes beyond the control of
the Lessor excepted; provided, however, that the Lessor shall not be obligated to expend on such
restoration or rebuilding more than the amount of the proceeds received by the Lessor from the
insurance provided for in Pazagraph 6 hereof.
The rent payable hereunder for the Project shall be abated for the period during which
the Project or any part thereof is unfit for occupancy and such abatement shall be in proportion to
the percentage of floor azea of the Project which is unfit for occupancy.
5. Alteration and Repairs. The Lessee assumes all responsibility for repairs
and alterations to the Project. No alterations shall be made by Lessee without first obtaining the
written consent of Lessor. Subject to Pazagraph 11, at the end of the term, Lessee shall deliver the
:ODMA\PCDOCS\SBDOCSI\41920\1 -4-
leased property to Lessor in as good condition as at the beginning of the term, reasonable wear and
tear only excepted. Equipment or other personal property which becomes worn out or obsolete may
be discarded or sold by Lessee. Lessee need not replace such personal property, but may replace
such property at its own expense, which replacement property shall belong to Lessee. The proceeds
of the sale of any personal property shall be paid to the above-mentioned Trustee. Lessee may trade
in any obsolete or worn out personal property or replacement property which will belong to Lessee
upon payment to the Trustee of an amount equal to the trade-in value of such property.
6. Insurance. 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 buildings or facilities of a similar type, with good and
responsible insurance companies, subject to the approval of Lessor. Such insurance shall be in an
amount at least equal to the greater of (i) the option to purchase price or (i) one hundred percent
(100%) of the full replacement cost of the Project as certified by a registered architect, registered
engineer, or professional appraisal engineer, selected by the Lessor, on the effective date of this
Lease, and on or before the first day of the anniversary date of this Lease 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. The Lessee will, at all times during the full term of this
Lease, keep in effect, public liability and property damage insurance, insuring the Lessee, the Lessor,
and the Trustee in amounts customarily carried for similar properties. Such public liability and
property damage insurance may be provided under the public liability self-insurance program of
Lessee. During the full term of this Lease, Lessee will also, at its own expense, maintain rent or
:ODMA\PCDOCS\SBDOCSI\41920\1 -5-
rental value insurance in an amount equal to the full rental value of the leased facility for a period
of two (2) years against physical loss or damage of the type insured against pursuant to the preceding
requirements of this clause. Such policies shall be for the benefit of persons having an insurable
interest in the demised premises, and shall be made payable to the Lessor or to such other person or
persons as the Lessor may designate. Such policies shall be countersigned by an agent of the insurer
who is a resident of the State of Indiana, and such policies, together with a certificate of the
insurance commissioner certifying that the persons countersigning such policies are duly qualified
in the State of Indiana as resident agents of the insurers on whose behalf they may have signed, and
the certificate of the architect or engineer hereinbefore referred to shall be deposited with the Lessor.
If, at any time, the Lessee fails to maintain insurance in accordance with this clause, such insurance
maybe obtained by the Lessor and the amount paid therefor shall be added to the amount of rental
payable by the Lessee under this Lease; provided, however, that the Lessor shall be under no
obligation to obtain such insurance and any action or non-action of the Lessor in this regard shall
not relieve the Lessee of any consequence of its default in failing to obtain such insurance, including
its obligation to continue the rental payments incase of total or partial destruction of the Project as
provided in Paragraph 4 hereof.
7. General Covenants. The Lessee shall not assign this Lease or sublet the
demised premises herein described without the written consent of Lessor; provided, however, that
the Lessee shall in no event assign or sublet the demised premises if such assignment or sublease
will result in the loss of the exclusion from gross income for federal income tax purposes of interest
on any obligation issued by the Lessor to finance the demised premises. Lessee shall use and
::ODMA\PCDOCS\SBDOCSI\41920\1 '6'
maintain the demised premises in accordance with the laws and ordinances of the United States of
America, the State of Indiana, and all other proper governmental authorities.
Lessee has determined that a present need exists for the Project, which need is not
temporary or expected to diminish in the near future. The Project is essential to and will be used by
Lessee during the term thereof only for the purposes of performing one or more governmental
functions of Lessee consistent with the permissible scope of Lessee's authority and will not be used
in a trade or business of any person or entity. Lessee agrees to execute, if requested, a certificate
regarding such matters.
8. Option to Purchase. Lessor hereby grants to Lessee the right and option, on
any date prior to the expiration of this Lease, upon written notice to Lessor, to purchase the demised
premises at a price equal to the amount required to enable Lessor to pay all indebtedness, including
accrued and unpaid interest to the first date on which bonds may be redeemed and all premiums
payable on the redemption thereof. In no event, however, shall such purchase price exceed the
capital actually invested in such property by Lessor represented by outstanding securities or existing
indebtedness plus the cost of transferring the property. The phrase "capital actually invested" as used
herein shall be construed to include, but not by way of limitation, the following amounts expended
by the Lessor: organization and incorporation expenses, financing costs, carrying charges, legal fees,
architects' fees, contractors' fees and reasonable costs and expenses incidental thereto.
Upon request of the Lessee, the Lessor 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 demised premises in accordance with the preceding paragraph. The statement shall also
::ODMA\PCDOCS\SBDOCS 1\41920\1 -T
set forth the name of the Trustee under the trust agreement or agreements securing the outstanding
indebtedness of the Lessor.
If the Lessee exercises its option to purchase, it shall pay to the Trustee referred to
above the purchase price which is required to pay all indebtedness of Lessor, including all premiums
payable on the redemption thereof and accrued and unpaid interest. Such payment shall not be made
until the Trustee gives to Lessee a written statement that such amount will be sufficient to retire all
outstanding indebtedness of Lessor secured by the trust agreement or agreements between the
Trustee and the Lessor, including all premiums payable on the redemption thereof and accrued and
unpaid interest.
Nothing herein contained shall be construed to provide that Lessee shall be under any
obligation to purchase the demised premises, or under any obligation in respect to any creditors,
members or security holders of Lessor.
9. Option to Renew. Lessor hereby grants to Lessee the right and option to
renew this Lease for a further like, or lesser, term upon the same or like conditions as herein
contained, and Lessee shall exercise this option by written notice to Lessor given upon any rental
payment date prior to the expiration of this Lease.
10. Utili Service. The Lessee agrees to pay or cause to be paid all charges for
sewer, gas, water, electricity, lights, heat or power, telephone or other utility services used, rendered
or supplied upon or in connection with the leased premises throughout the term of this Lease, and
to indemnify Lessor and save it harmless against any liability or damages on such account. The
Lessee shall also, at its sole cost and expense, procure any and all necessary permits, licenses or
other authorizations required for the lawful and proper installation and maintenance upon the leased
::ODMA\PCDOCS\SBDOCSI\41920ll 'g'
premises of wires, pipes, conduits, tubes and other equipment and appliances for use in supplying
any such service to and upon the leased premises.
11. Transfer to Lessee. In the event Lessee does not exercise its option to
purchase under Paragraph 8 or option to renew under Paragraph 9, and upon full discharge and
performance by the Lessee of its obligations under this Lease, the demised premises shall become
the absolute property of the Lessee, and Lessor shall execute the proper instruments conveying title
to the premises to Lessee.
12. Defaults. If the Lessee shall default in the payment of any rentals or other
sums payable to the Lessor hereunder, or in the observance of any other covenant, agreement or
condition hereof, which nonobservance shall continue for ninety (90) days after written notice to
correct the same, then, in any or either of such events, the Lessor may proceed to protect and enforce
its rights by suit or suits in equity or at law in any court of competent jurisdiction, whether for
specific performance of any covenant or agreement contained herein, or for the enforcement of any
other appropriate legal or equitable remedy, or the Lessor, at its option, without further notice, may
terminate the estate and interest of the Lessee hereunder, and it shall be lawful for the Lessor
forthwith to resume possession of the demised premises and the Lessee covenants to surrender the
same forthwith upon demand.
The exercise by the Lessor of the above right to terminate this Lease shall not release
the Lessee from the performance of any obligation hereof maturing prior to the Lessor's actual entry
into possession. No waiver by the Lessor of any right to terminate this Lease upon any default shall
operate to waive such right upon the same or other default subsequently occurring.
::ODMA\PCDOCS\SBDOCS 1\41920\t _9_
13. Notices. Whenever 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 addressed to the other party or parties at their last
known place of business.
14. Successors or Assigns. All covenants of this Lease, whether by Lessor or
Lessee, shall be binding upon the successors and assigns of the respective parties hereto.
15. Construction of Covenants. Lessor was organized for the purpose of
constructing the Project and leasing the same to Lessee under the provisions of the Indiana Code,
Title 36, Article 1, Chapter 10. All provisions herein contained shall be construed in accordance
with the provisions of said Chapter, and to the extent of inconsistencies, if any, between the
covenants and agreements in this Lease and provisions of said Chapter, the provisions of said
Chapter shall be deemed to be controlling and binding upon Lessor and Lessee.
*****
::ODMA\PCDOCS\SBDOCSI\41920\1 "1 ~"
IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed
for and on their behalf as of the day and year first hereinabove written.
LESSOR
By:
ATTEST:
Secretary
By:
(SEAL)
ATTEST:
Loretta J. Duda, Clerk
CITY OF SOUTH BEND
BUILDING CORPORATION
President
LESSEE
CITY OF SOUTH BEND, INDIANA
Stephen J. Luecke, Mayor
::ODMA\I'CDOCS\SBDOCS ti4I920U ' 1 1-
STATE OF INDIANA )
SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for the State of Indiana,
personally appeared and ,personally known
tome as the President and Secretary, respectively, of the City of South Bend Building Corporation,
and acknowledged the execution of the foregoing Lease for and on behalf of said Corporation.
Witness my hand and notarial seal this day of , 1999.
Notary Public
My Commission Expires:
County Resident
Printed
::ODMA\PCDOCS\SBDOCSI\41920\1 -12-
STATE OF INDIANA )
SS:
COUNTY OF ST. JOSEPH )
Before me, the undersigned, a Notary Public in and for the State of Indiana,
personally appeared Stephen J. Luecke and Loretta J. Duda, personally known to me as the Mayor
and Clerk, respectively, of the City of South Bend, Indiana, and acknowledged the execution of the
foregoing Lease for and on behalf of said City.
Witness my hand and notarial seal this day of
1999.
Notary Public
My Commission Expires:
County Resident
Printed
This instrument was prepared by Randolph R. Rompola, Attorney at Law, Baker & Daniels, 205 West Jefferson Boulevard,
Suite 250, South Bend, Indiana 46601.
::ODMA\PCDOCS\SBDOCS I\41920\1 -13 -
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EXHIBIT A
The Land upon which the Project will be completed is as follows:
A tract or parcel of land in the Northwest Quarter of Section 25, Township 37 North,
Range 2 East, in St. Joseph County, Indiana, described as follows:
Beginning on the North line of the South half of the Northwest Quarter of Section 25,
Township 37 North, Range 2 East, at a point of 369.30 feet West of the Northeast
corner of the South half of the Northwest Quarter of said Section 25; thence West
375 feet; thence South 674.98 feet, to a point of 30 feet South of the North line of
Walter Street; thence East 375 feet to a point 365.50 feet West of the North and
South center line of said Section 25; thence North 676.2 feet to the place of
beginning.
Subject to legal highways.
The Project consists of (i) the replacement of the existing windows and doors and (ii) the installation
and replacement of the heating and cooling system in the building located on the aforementioned real
estate and known as O'Brien School.
::ODMA\PCDOCS\SBDOCS 1\41920\I A'
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EXHIBIT A
The Land upon which the Project will be completed is as follows:
[insert legal description here]
The Project consists of (i) the replacement ofthe existing windows and doors and (ii) the installation
and replacement of the heating and cooling system in the building located on the aforementioned real
estate and known as O'Brien School.
:ODMA\PCDOCS\SBDOCSI\41920\1 /~1-1
~] ,•S.%~ day ~ .,. .~ t ~..•
_, _.~
EXHIBIT B
LEASE PAYMENT SCHEDULE
Date
March 28, 2000
September 28, 2000
March 28, 2001
September 28, 2001
March 28, 2002
September 28, 2002
March 28, 2003
September 28, 2003
March 28, 2004
September 28, 2004
March 28, 2005
September 28, 2005
March 28, 2006
September 28, 2006
:ODMA\PCDOCS\SBDOCSI\41920\1 A'2
Amount
$ 52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,196
52,19b
u ~~ fer .. 9 i°T ra.
tea,:, ~a d ~W 3' sa .~. ~t a~;
J~U L 2 ~~ 199
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