6E(1) - Laserfiche WebLink

Home Browse Search

C~ ~ ~i). 1/18/11 LANDLORD'S ESTOPPEL CERTIFICATE This Landlord's Estoppel Certificate ("Certificate") is made as of January , 2011 by the CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT, a public body ("Agency"), to and for the benefit of CENTIER BANK, an Indiana state banking association, and its successors and assigns (collectively, "Centier"). Agency acknowledges that Centier has agreed to make a loan to FIRST BANK CENTER LIMITED PARTNERSHIP, a Minnesota limited partnership ("Borrower"), to be secured by the interests of Borrower in and to the land owned by Agency commonly known as 100 North Michigan Street, South Bend, St. Joseph County, Indiana (the "Land") and all improvements thereon (co-lectively with the Land, the "Property"), and that Centier has required that Agency provide this Certificate as a condition for the making of such loan. Agency hereby agrees, and represents and warrants to Centier, as follows: 1. Ground Lease. Agency is the landlord and Borrower is the tenant (as successor to the original tenant) under that certain Ground Lease Agreement for Private Redevelopment, originally executed by Agency, as landlord, and by FBT Bancorp, Inc., as tenant, dated as of October 22, 1979, recorded in the Office of the Recorder of St. Joseph County on November 13, 1979 as Document Number 7925386, as amended by that certain assignment dated as of March 15, 1981 and recorded in the Office of the Recorder of St. Joseph County on March 27, 1981 as Document Number 8104577 and Document Number 8104580, and as amended by that certain amendment dated as of March 12, 1982 and recorded in the Office of the Recorder of St. Joseph County on April 21, 1982 as Document Number 8205492 (collectively, the "Ground Lease") 2. Term of Ground Lease. The Ground Lease is unmodified and is in full force and effect. The term of the Ground Lease began on May 1, 1980, and will terminate on April 30, 2030, provided that Borrower will have the option to extend the term of the Ground Lease through April 30, 2079 under the terms and conditions provided in the Ground Lease. 3. Rental. The rental amounts and all other. rents, additional rents, impositions and other amounts payable by the tenant under or with respect to the Ground Lease have been paid through April 30, 2011. The only amount payable by Borrower to Agency under the Ground Lease is the annual rental in the amount of $7,387.00, which amount is due on May 1 of each year. Such amount was paid on or before May 1, 2010, and such amount has been fully paid for all prior years. 1