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HomeMy WebLinkAbout6A(1) First Amendment to Development Agreement with WNIT Public Broadcasting~ ~ ~_~~ FIRST AMENDMENT TO DEVELOPMENT AGREEMENT AND AGREEMENT FOR EASEMENT BETWEEN SOUTH BEND REDEVELOPMENT COMMISSION AND MICHIANA PUBLIC BROADCASTING CORPORATION THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT AND AGREEMENT FOR EASEMENT is made and entered into this day of September, 2009 by and between the South Bend Redevelopment Commission (the "Commission") and MICHIANA PUBLIC BROADCASTING CORPORATION ("WNIT"), a nonprofit corporation organized and duly existing under the laws of Indiana (the South Bend Redevelopment Commission and WHIT being sometimes referred to herein individually as a "Party" and collectively as the "Parties"). WHEREAS, the Commission and WNIT are parties to an agreement entitled "Development Agreement Between the City of South Bend Redevelopment Commission and Michiana Public Broadcasting Corporation" dated and made effective December 5, 2008 (the "Agreement") related to premises located at 300 West Jefferson Blvd., South Bend, Indiana; and WHEREAS, pursuant to the Agreement, WNIT has executed that certain document entitled "Agreement for Easement" (the "Easement") whereby WNIT conveyed to the Commission an easement as described in the Agreement; and WHEREAS, the Parties will be unable to complete the terms of the Agreement before the expiration of the Easement and wish to extend the duration of the Easement; and WHEREAS, this agreement is entered into as the "First Amendment to Development Agreement" to modify the terms and conditions in the Agreement and the Easement. NOW, THEREFORE, in consideration of the mutual promises and obligations set forth herein, the parties make this First Amendment to Lease as follows: Paragraph 2 of the Agreement is modified to read as follows (modifications italicized): WNIT will convey an Easement in the Donated Property to the Commission in a form which is satisfactory to WNIT and the Commission (the "Easement"). WNIT will not warrant title to the Donated Property nor provide title insurance, provided, however, the Commission may refrain from accepting the Easement to the Property if, in its sole discretion, WNIT is unable to convey an acceptable Easement to the Donated Property. The term of the Easement shall be for a period of eighteen (18) months from the date the Easement is executed, but the Commission shall have an option at its discretion to renew the Easement for six (6) consecutive thirty (30) day periods by providing WHIT notice of the Commission's intent to renew fifteen (15) days prior to the expiration of the original six (6) month term or any subsequent thirty (30) day renewal. In any event, the Easement shall expire two (2) years from the date of the Easement unless the parties agree, in writing, to an extension. 2. Paragraph 5 of the Agreement is modified to read as follows (modifications italicized): The Project is scheduled to be completed by October 1, 2010. If WNIT fails to substantially complete its renovation plans to the Property within a reasonable time, the Commission may terminate the Easement and WNIT will pay to the Commission all documented expenses incurred for the Donated Property, less any expenses reimbursed by the title insurance policy, if partial rehabilitation is due to any title defects or newly discovered encumbrances. WHIT will also pay all expenses incurred if the overall building project is not finished and open for service within eighteen (18) months after the expiration of the Easement to the Donated Property. 3. Each and every other provision contained in the Agreement and the Easement is hereby ratified, approved and affirmed by the Parties. 4. The Parties acknowledge and agree that this Amendment shall relate back to the date of the execution of the Agreement and that all remaining terms and conditions, as set forth in the Agreement shall remain in full force and effect. This Amendment may be executed in counterparts, all of which shall be deemed originals. 6. The undersigned persons executing and delivering this Amendment on behalf of the Tenant represent and certify that they are the duly elected officers of Tenant and have been fully empowered, by proper resolution of the Board of Directors to execute and deliver this Amendment and that all necessary corporate action has been taken and done. [SIGNATURE PAGE ATTACHED] IN WITNESS WHEREOF, the parties have caused this First Amendment to Development Agreement and Easement Agreement between the City of South Bend Redevelopment Commission and Michiana Public Broadcasting Corporation to be executed on the day and year first written above. Michiana Public Broadcasting Corporation By: Its: ATTEST: By: Its: South Bend Redevelopment Commission By: Its: ATTEST: By: Its: