|
PARKJNG LICENSE AGREEMENT
<br />This License Agreement (this "License") is entered into as of 15 -, 2014 (tile
<br />"Effective Date"), by and between KITE REALTY EDDY STREETGARAGE, LLC, an Indiana limited
<br />liability company (""Licensor"") and BARTON MALOW COMPANY, a Michigan corporation
<br />(111jeens "),
<br />.ge
<br />WITNESSET'H THAT:
<br />WHEREAS, Licensor owns that certain property located in South Bend, Indiana, and more
<br />particularly described on Exhibit A attached hereto and incorporated herein, which has situated thereon a
<br />4-story parking garage (tile "oArW"); and
<br />WHE REAS, Licensor is willing to grant to Licensee a temporary, revocable, license to use those
<br />parking spaces located within the basement of the Garage (the "Basement Area"), and the roof of the
<br />Garage (tile "Roof Area", together with the Basement Area, the "Licensed Area"), for the pL1rPQSeS Set
<br />forth herein and subJect to the terms and conditions hereinafter set forth.
<br />NOW THEREFORE, in consideration ofthe mutual covenants and agreements set forth in this
<br />License, Licensor and Licensee do hereby agree as follows:
<br />Section 1. Recitals. The Recitals above are incorporated into this Agreement by reference and
<br />are true and correct in all material respects.
<br />Section 2. Grant. Upon the terms and conditions set forth herein, Licensor hereby grants to
<br />Licensee and Licensee hereby accepts froin Licensor the following (hereinafter, the "'Licensed Use"): (i) a
<br />temporary, revocable, non-exclusive license to allow Licensee's employees, customers, contractors,
<br />agents and business invitees (collectively, the "Periniffees") to use tile Roof Area for the sole purpose of
<br />parking private passenger motor vehicles therein (but not heavy duty trucks, motor homes, recreational
<br />vehicles, boats, trailers or vehicles that are too tall to fit into the Garage), and (ii) a temporary, revocable,
<br />exclusive license to allow Licensee's Pennittees to use the Basement Area for the sole purpose of parking
<br />private passenger motor vehicles therein (but not heavy duty trucks, motor homes, recreational vehicles,
<br />boats, trailers or vehicles that are too tall to fit into the Garage).
<br />Section 3. Use of Licensor. Licensor reserves the right to use and enjoy the Licensed Area for
<br />all purposes not inconsistent with the rights of Licensee as set forth in this License.
<br />Section 4. Term. The terra of this License shall commence on November 24, 2014 (the
<br />"Commencement Date") and expire oil August 31, 2017 (the "Term"). Notwithstanding anything
<br />contained herein to the contrary, Licensor or Licensee shall have the right to terminate and revoke this
<br />License with respect to the Roof Area, the Basement Area, or both, at any tune during the Terra upon 120
<br />days' prior written notice to Licensee of such termination and revocation,
<br />Section 5. License Fee. Additional Costs. Licensee shall pay, without relief from valuation or
<br />appraisenient laws and without demand, counterclaim or set-off, a license fee for the use of the Licensed
<br />Area during the Term as follows (hereinafter, the "License Fee"): (i) ® for use of tile:
<br />Roof Area and (ii) for use of tile Basement Area, 1"he License Fee shall be payable
<br />in advance oil the first day of each month during the Term. At the time of execution of this License,
<br />Licensee shall pay to Licensor a prorated amount of tile License Fee for the calendar month in which this
<br />License is signed, based on the number of days remaining in such calendar month. Upon termination of
<br />this License, Licensor shall reimburse Licensee for any prepaid License Fee attributable to a period of
<br />
|