4641-17 Lease agreement- Parking Lot located at 214-216 West Wayne Street

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Filed in Citirk's Office PARKING LOT LEASE ^�r� JUN 0 7 2017 This Lease (the "Lease") is made April, 2017, between The City of South Ben ("Le see) and Mary Co e Investments,LLC. ("Lessor"). KAREEMA H F°' V&r--_R 1.Leased Premises. Lessor hereby leases to Lessee and Lessee hereby leases fro '$pLIX 112,IN improvements and all appurtenances which consist of the entire parking facility located at 214-216 W.Wayne Street, South Bend,Indiana 46601 (parcel number 18-3 008-025 1)(the"Leased Premises"). 2.Lease Term. The term of this Lease shall be for an initial term of five years(5),commencing on May 1,2017.This Lease is subject to ratification from the South Bend Common Council. 3.Rent. In consideration hereof,the Lessee covenants and agrees to pay to Lessor,at the address set forth in Paragraph 14 or such other place as Lessor may from time-to-time designate in writing, rent for the Leased Premises in the following manner: a. Fixed Rent. Before the first (1 st) day of each month during the term of this Lease, Lessee agrees to pay Lessor a fixed monthly rent of one thousand four hundred dollars($1,400.00)for the Leased Premises.If the commencement date is not the first day of a month, or if the Lease termination date is not the last day of a month, a prorated monthly installment shall be paid at the then current rate for the fractional month. Lessee agrees to pay an increase in rent of 3%per year following the first year. 4.Use. The Leased Premises shall be used for vehicle parking and related purposes and such other purposes as may be incidental thereto. Lessee shall have the right to install or erect at its expense, signage suitable for advertising purposes in or adjacent to the Leased Premises and any personal property or trade fixtures Lessee deems necessary for conducting business upon the Leased Premises in accordance with the uses and purposes provided herein. 5.Indemnification. Lessee shall indemnify and hold harmless Lessor from any and all loss, costs (including reasonable attorney's fees), and liability on account of any damages, injuries, claims and demands to the extent caused by negligent errors, omissions or misconduct of Lessee, its agents or employees but only to the extent that same are caused by the negligence,misconduct or other fault of Lessee. Lessor shall indemnify and hold harmless Lessee from all loss, costs(including reasonable attorney's fees),and liability on account of any damages, injuries, claims and demands to the extent caused by the negligent errors, omissions or misconduct of Lessor, its agents or employees. Lessee shall not be liable for any loss or liability caused by or arising from: (a)any structural defect on or about the Leased Premises; (b)the design of the Leased Premises or any acts or omissions of the Lessor,Lessor's agents, employees,licensees, or invitees. 6.Insurance. The parties hereto acknowledge that Lessee is self-insured under Indiana law. Lessor shall, at its own cost and expense, insure its obligations hereunder and keep in effect for the Leased Premises: commercial general liability, and fire Insurance with additional coverage commonly known as supplemental contract or extended coverage, covering interests of the Lessor and the Lessee in amounts sufficient to pay, in full, all losses to the Leased Premises. 7.Utilities and Services. To the extent applicable, Lessor shall pay all utility and service charges relating to the Leased Premises. 8.Taxes and Assessments. Lessor shall pay all taxes and assessments levied upon or assessed against the Leased Premises. 9.Permits and Licenses. Lessor warrants that it shall maintain any and all permits and licenses necessary for the Leased Premises to operate as a parking facility in South Bend,Indiana. I O.Duties of Lessee. Lessee shall keep the Leased Premises and adjacent sidewalk clean and free of snow and debris I(.Peaceable Possession. a. Lessor and Lessee warrant that they have the authority to enter into this Lease, and Lessor warrants that no law,ordinance or regulation prohibits the use of the Leased Premises for any vehicle parking business. Lessor shall execute or procure any necessary assurances of title that may reasonably be required for the protection Page 1 of 3