Approving a lease between the Board of Public Works and Michiagn-Marion Street Joint Venture

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5. The Lessee agrees that the Lessor shall not be responsible or liable to the Lessee, or to any other person or entity, for any injury or damage to person or property occurring during the term of this Lease on or adjacent to the Demised Premises resulting from any cause whatsoever other than the sole negligence of the Lessor,-its servants, agents, contractors or employees. The Lessee further agrees to hold the Lessor harmless from any and all claims for damages whatsoever, whether or not there is deemed to be joint or concurrent liability on the part of the Lessor and Lessee or any other party, other than those resulting from the sole negligence of the Lessor, its servants, agents, contractors or employees. 6. The Lessee, at its own expense, shall maintain a Certificate of General Liability Insurance naming the City of South Dend as an additional insured on the Certificate, in the following particulars and amounts: Premises - Completed Operations or Products, Bodily Injury and Property Damage, Combined Single Limit - $1,000,000. 7. The Lessor and the Lessee agree that the occurrence of the following events shall constitute acts of default by the Lessee: the failure of the Lessee to pay any installment of rent when the payment is due and payable, or the failure of the Lessee to pay any other charge required by said Lease to be paid by the Lessee, or the failure of the Lessee to perform or observe any other material requirement of this Lease, provided that any such default is not cured within fifteen (15) days after written notice thereof from the Lessor to the-Lessee. Upon the happening of any one or more of the aforementioned events of default, and the expiration of the fifteen (15) day period of time prescribed in such notice, the Lessor may give to the Lessee a notice of in- tention to end the term of this Lease at the expiration of five (5) days from the date of service of such notice of termination. Thereupon, the Lessor may re -enter said premises, as provided by law, and remove the Lessee or any per- sons occupying the same, without prejudice to any remedies which might other- wise be used for arrears of rent, and this Lease shall be deemed to be terminated from and after the expiration of said five (5) day period if such default has not theretofore been cured. 8. The Lessee shall have the right to sublet the Demised Premises or assign this Lease, but any such subletting or assignment shall in no way relieve or discharge the Lessee from any obligations contained in this Lease. 9. Lessor and Lessee each shall have the right to terminate this Lease for whatever reason during the original five (5) year term of this Lease, upon written notice to the other party no less than ninety (90) days prior to the proposed date for termination. If the Lessee terminates this Lease for what- ever reason, all improvements made to the property by the Lessee shall be forfeited to the Lessor. If Lessor terminates this Lease for whatever reason during the original five (5) year term of this Lease, the Lessor shall pay the Lessee for improvements made to the property by the Lessee in accordance with the following schedule: At or before the end of Year One - Four - fifths (4/5) of the value of the improvements. At or before the end of Year Two - Three - fifths (3/5) of the value of the improvements. At or before the end of Year Three - Two - fifths (2/5) of the value of the improvements. At or before the end of Year Four - One -fifth (1/5) of the value of the improvements. During Year Five - No expense to Lessor After the expiration of the original five (5) year term of this Lease, Lessor may terminate this Lease in order to utilize the premises for a public purpose or to sell, lease or otherwise dispose of the premises to a third party upon written notice to the Lessee no less than ninety (90) days prior to the pro- posed date for termination, and Lessor shall not be liable or responsible for paying Lessee any amount for improvements or other damages or expenses in the event of such termination. The Lessee shall have a right of first refusal with respect to any bona fide offer from a third party to.purchase or lease said premises. Lessee shall have thirty (30) days after written notice of the existence of such offer with which to exercise its right of first refusal. -2-