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(h) Security Deposit:
<br />An amount equal to the first month's Modified Gross
<br />Rent as security deposit shall be due upon signing of
<br />lease.
<br />(i) The Buildine: Michigan Street Shops, conunonly referz•ed to as 117 -
<br /> 131 S. Michigan St, South Bend, Indiana, as more
<br /> particularly described in Exhibit A, and depicted in
<br /> Exhibit B, each attached hereto and made a part hereof.
<br />(j) Effective Date: The date of last execution hereof by Landlord or Tenant.
<br />(k) Delive ,Date: The date to which possession is delivered to the Tenant
<br /> as deternined in Section 4.1.
<br />(I) Conunencement Date; The date on which the "Initial Term" commences as
<br /> determined in Section 3.1,
<br />1.2. Modified Gross Rent. Modified Gross Rent ("MGR") includes the Basic Rent plus the estimated
<br />Additional Rent charges of $4.92 per square foot per year:
<br />Lease Year Annual Monthlv
<br />Initial Term MGK MGR
<br />2 Months N/A 0.00
<br />1 $14.400.00 $1,200.00
<br />2 $15.600.00 $1,300.00
<br />3 $16,800.00 $1,400.00
<br />Modified Gross Rent for any Extended Tenn shall be subject to negotiation between the parties.
<br />ARTICLT: II.
<br />PREMI S 1 S.
<br />2.1. Premises. Landlord is the owner of the Building. Landlord, uz consideration of the Rent, as
<br />hereinafter defined, to be paid and the covenants to be perfornied by Tenant, hereby leases to Tenant, and Tenant
<br />hereby leases from Landlord, that certain premises located in the Building and depicted on Exhibit C (the
<br />"Premises"}, subject to the terms and conditions of this Lease. Landlord reserves the right, with respect to the
<br />Building, to modify, increase or decrease: the number, location, dimension, size, and height of buildings and other
<br />improvements in the Building; and the identity and type of other tenants. Tenant's interest in the Premises is and
<br />shall be subject to alI easements, restrictions, liens, encumbrances, rights-of way, or other matters now or hereafter
<br />of record affecting the Premises or the Building.
<br />2.2. Common Areas. Tenant shall have the right, in common with all other tenatzts in the Building, to
<br />use the areas in and around the Building designated by Landlord from time to time as common areas, including,
<br />without limitation, hatIways, stairs, elevators, sidewalks, interior drives, parking areas and green areas (the
<br />"Common Areas"), subject to the Rules, as hereinafter defined. Landlord shall operate, maintain and insure the
<br />Common Areas for their intended purposes in such a manner as Landlord shall determine to be necessary or
<br />appropriate; including, without limitation, that Landlord at any time may close or change any part of the Common
<br />Areas as Landlord determines to be necessary or appropriate. Tenant understands that Landlord does not control the
<br />sidewalks located in the Michigan Street right of way. Tenant will file its request with the South Bend Board of
<br />Public Works for use of a portion of the sidewakc area for outdoor seating, Landlord will not oppose such request.
<br />2.3. puiet Eniovment. Landlord warrants that it is the ovtmer in fee simple of the Building, and that it
<br />has full right and authority to enter into this Lease, subject to all easements, restrictions, liens, encumbrances, rights-
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