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Home My Public Portal About019-1987- AUTHORIZING THE CONSENT OF THE CITY TO THE ASSIGNMENT OF A CERTAIN LEASE,PART OF FINANCING AGREEMENTORDINANCE NO. 19-1987 ORDINANCE OF THE CITY OF RICHMOND AUTHORIZING THE CONSENT OF THE CITY TO THE ASSIGNMENT OF A CERTAIN LEASE, A PART OF FINANCING AGREEMENT UNDER WHICH RICHMOND ECONOMIC DEVELOPMENT FIRST MORTGAGE REVENUE BONDS, SERIES 1973, (FARMHAND, INC.,) WERE ISSUED AND SOLD. WHEREAS, the City of Richmond leased to Farmhand, Inc., certain real Lease between such parties dated November 29, 1973 and recorded November 29, 1973 in Miscellaneous Record 118, page 391-442 of the records in the office of the Recorder of Wayne County, Indiana, (LEASE") as part of a financing agreement under which Richmond Economic Development First Mortgage Revenue Bonds, Series 1973 (Farmhand, Inc.) were issued and sold; and, WHEREAS, the City of Richmond did consent to an assignment of the lease to Norwest Bank Minneapolis, National Association in Ordinance No. 27-1987; and, WHEREAS, Norwest Bank Minneapolis, National Association, has agreed to enter into a certain Agreement whereby it will transfer, assign, convey and deliver its Lease interests to White Consolidated Industries, Inc.; and, WHEREAS, the said White Consolidated Industries, Inc., has agreed to expressly assume in writing all of the obligations of Norwest Bank Minneapolis, National Association, pursuant to said lease for the balance of the term thereof, to pay the rents and other amounts payable thereunder, and to faithfully perform all of the covenants, stipulations and agreements contained therein. NOW THEREFORE, BE IT ORDAINED by the Common Council of the City of Richmond, Indiana: That the City of Richmond hereby consents with Norwest Bank Minneapolis, National Association, The Second National Bank of Richmond, Richmond, Indiana, Trustee, and the Second National Bank of Richmond, Richmond, Indiana and the First National Bank of Richmond, Richmond, Indiana, all of the Bondholders, to the assignment of said Lease between the City and Norwest Bank Minneapolis, National Association to Kemper Division of White Consolidated Industries, Inc., and the release of Norwest Bank Minneapolis, National Association, from the full performance of the provisions of the Lease upon the assumption of the Lease by the execution of Exhibit "A" by Kemper Division of White Consolidated Industries, Inc. That the Mayor and Clerk are authorized and directed to execute and deliver to Norwest Bank Minneapolis, National Association, its consent to the assignment of such Lease in the form and manner set forth in Exhibit "A" hereto. That this Ordinance shall be in full force and effect from and after its passage and signing by the Mayor. PASSED AND ADOPTED by the Co mon Council of the City of Richmond, Wayne County, Indiana, thi' ay of , 1987. s den o mon Council ATTEST: �7at c.L 2I 1p�an� City Clerk PRESENTED by me to the Mayor of the City of Richmond, Indiana this �?.&,-C day of 1987. APPROVED by me, Frank H. Waltermann, Mayor of the City of Richmond, Indiana this�ioe day of, 1987. syor AT'TES'T :7) I il" GIl-4 , Cit rr L DISPOSITION QF ORDINANCE NO. Iq -1g87 RESOLUTION NO. -198 by Common Council Ordinance No./q-,fr Resolution No. Elstro William Hankinsn Whitesell Parker Hutton Morris Theobald Brookbank Date -Y:26 �-k Susp. rules Ist read Title only ---------------- ---- -------- -- ----- ------ ------- Seconded I I --------------- ---------- Proof of Publicaton ------------------ Seconded ------- ------- ----------------- ------------- ---------------- ---------- Move to 2nd read 4t'tVRIXAMIA444 ------- ------- ------ -------- -------- ------ Seconded ------ Engrossment - - ------------- Seconded 001c4 ---- -------- � --------------- I ------------ ------------------ Susp rules 3rd reap 24Y�- ------ -- -------- -------- --------------------- -- --- Seconded Passage ----- OR --------- --------- ---- — ------- ------------------ ----------- Rejection-- Date Passed i(-"I c, - p ? COMMITTEE ASSIGNMENTS: Committee Date Commitee Hearing Date_ Reassigned to Council Agenda PUBLICATION DATES: AMENDMENTS: COMMENTS: