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South Bend Redevelopment Commission <br />Regular Meeting -July 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />continue ... <br />completion of the improvements that the <br />purchaser originally proposed. We have <br />been unable to find any evidence that a <br />Certificate of Completion was issued to <br />Watseka Theater Corp. by the Commission. <br />Staff is therefore requesting that the <br />Commission authorize Legal Couinsel to <br />prepare a Certificate of Completion that <br />would then be filed with the Recorder's <br />Office which would affirmatively state that <br />the Commission's reversionary rights on that <br />property have been extinguished. <br />Second, Ms. Greene noted that she received <br />correspondence from the attorney of the <br />prospective purchaser following their <br />meeting. The letter addresses Sec. 5 of the <br />Deed in which the Commission reserved a <br />facade easement over the west facade in <br />perpetuity and gave certain rights to the <br />owner of the building and reserved rights for <br />the Commission in respect to that facade. In <br />reviewing Sec. 5 of the Deed with respect to <br />that facade easement, it appears there is a <br />typographical error that refers to the <br />"grantor" when the language should have <br />been "grantee." Staff is requesting <br />authorization to clarify and clean up that <br />typographical error with respect to the facade <br />easement. <br />Ms. Greene then referred back to the Deed <br />transferring the Commission's interest in the <br />property to Watseka Theater Corp. As in <br />many property transactions, there are <br />restrictions and covenants that become of <br />18 <br />