HomeMy WebLinkAboutNo. 2338 ratifying, confirming and approving an escrow termination agreement related to the A.J. Wright Distribution Center project•
RESOLUTION N0.2338
A RI~.SOLU'TION Ol+
THE SOUTI~I 13ENU REDEVELOPMENT COMMISSION
RATIFYING, CONFIRMING AND APPROVING
AN ESCROW TF,RMINATION AGR~EMF,NT RELA'1'Ell TO
TELL A.J. WRICHT DISTRI13UTlON CLN'1'ER PROJECT
(Sample-Ewing Development Area)
WI-IERI:AS, at its meeting o1~Apri1 20, 2007, the South [3end Redevelopment Commission
("Commission") adopted its Resolution No. 2332 thereby acknowledging and approving certain
actions and authorising and approving the execution ol~certain documents related to the A.J. Wright
Distribution Center Project ("Project"); and
WHF,RI?.AS, Resolution No. 2332 contemplated that, upon advice ol~ legal counsel, the
Commission would enter into certain formal agreements including, but not limited to, a First
Amendment to Contract for Sale o1~1_and, a Certificate of Completion, a Closing Statement, and any
other agreements that, L-pon advise of legal counsel, would be necessary to effect the transaction as
presented to the Commission at the April 20`x' meeting; and
WI IGRI,AS, Resolution No. 2332 further recognised that time was of the essence in order to
accomplish these actions and that completion of the paperwork related to the transaction may require
immediate action inconsistent with the Commission's regular meeting schedule; and
WI-1FRI;AS, Che-yl A. Greene is a duly licensed attorney in good standingiopractice law in
the State ol~ Indiana serving as Assistant City Attorney to the City of South Bend; and
WHFR1?AS, Attorney Greene has served as legal counsel to the Commission for various
purposes including, but not limited to, negotiation and preparation of the docrunents necessary to
accomplish the Project; and
WIIBREAS, in order to 1-acilitate the Project and in order to expedite the actions
contemplated by Resolution No. 2332, Attorney Greene has heretofore prepared and executed a
II:AWPI)alaANrojccls\sliUA\I)isUibuliunClrAKesulutions\R2138-RaliCyinglacrow 'rcrminulion_07050A.dos
document on the Commission's behalf entitled "'l'errninu[iort of ~Bscrow Agreement by and bettiveen
South Bend JZedeveluprnent Commission, AJW Soe~<<h ~3end Realty (;ord. and Meridian Title
Ca~rpurulion , a copy of which is attached hereto and incorporated herein as Exhibit "A"; and
WIIBRI?AS, the Commission desires to rattly the Terrninulia~n of~ Lscrotiv Agreement
previously signed by Attorney Greene.
NOW, TI-1Ll2-a~ORf:, BI~, I"f RESOLVI?D by the South Bend Redevelopment Commission that:
"1'he actions taken by Attorney Cheryl A. Greene relating to the A.J. Wright
I~istribulion Center Project, including the execution of the Termination of ~1:'scrnw
Agreement on behalf ofthe Commission are hereby in all respects ratified, confirmed
and approved.
2. This Resolution shall be in Iul- force and effect after its adoption by the South Bend
Redevelopment Commission.
ADOP"I'1?U at a meeting of the South Bend Redevelopment Commission held on
2007 at 1300 C~~unty-City Building, 227 West Jcl3erson Boulevard, South Bend,
Indiana 46601.
CITY OF SOU'hli I3FNll,
DLPARTMF.NT OF RF.DF.V~LOPMEN'I'
srgnulure
Prb ume and file -~~~
South Bend Redevelopment Commission
A1'TLS`I':
~ --
Gregory S. Downes, Secretary
Prin(ed Nu~r~e and Tide
South Bend Redevelopment Commission
I I:AWl'Dzua\Projccts\SI~:UA\I)istribuliun CtrAKesulutions\It2338-kutilyiug L~'scruw'Ibrmina~ion_070~04.Juc
TERNiINATION OF ESCROW AGREEMENT 8Y AND BETUVEEN
SOUTH BEND REDEVELOPMENT COMMISSION AND
AJW SOUTH BEND REP,LTY CORP AND
MERIDIAN TITLE CORPORTION
The undersigned Parties, pursuant to an Escrow Agreement dated April 19, 2002, do hereby mutually agree that said
terms have been complied with and therefore the Escrow Agreement is terminated and no longer in force and affect.
DATED this ?N day of May, 2007.
SOUT BEND REDEVELOPMENT COMMISSION
,(~~
By:
CF{-E12Y~ ~ • ~le~-E~V~
AJW SOUTH BEND REALTY CORP.
By Ann McCauley, Secretary
By Mary' B. Reynolds, Treasurer
MERIDIAN TITLE CORPORATION
By
t
EXHIBIT
D
a~4
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TERMINATION OF ESCROW AGREEMENT BY AND BETWEEN
SOUTH BEND REDEVELOPMENT COMMISSION AND
AJW SOUTH BEND REALTY CORP AND
MERIDIAN TITLE CORPORTION
The undersigned Parties, pursuant to an Escrow Agreement dated April 19, 2002, do hereby mutually agree that said
terms have been complied with and therefore the Escrow Agreement is terminated and no longer in force and affect.
N~
DATED ti~is ? day of May, 2007.
SOUTH BEND REDEVELOPMENT COMMISSION
i ,
BY~ Marcia ~„irdnes resident
AJW SOUTH BEND REALTY CORP.
By: Ann McCauley, Secretary
. Downes,"Secretary
MERIDIAN TITLE CORPORATION
By: Mary B. Reynolds, Treasurer
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