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FOURTH AMENDMENT TO LEASE BETWEEN
<br />The SOUTH BEND REDEVELOPMENT COMMISSION AND
<br />LE PEEP OF SOUTH BEND, INC.
<br />DATED MAY 10, 2011
<br />THIS FOUTH AMENDMENT TO LEASE is made and entered into this 10`h day of
<br />May, 2011 by and between the South Bend Redevelopment Commission ( "Landlord ") and Le
<br />Peep of South Bend, Inc. ( "Tenant ").
<br />WHEREAS, Landlord and Tenant are parties to an agreement entitled "Lease" dated and
<br />made effective October 20, 2000, as amended by the First Amendment to the Lease between the
<br />Landlord and Tenant dated February 13, 2003, and by the Second Amendment dated November
<br />7, 2007, and the Third Amendment dated November 1, 2008 (collectively "the Lease ") related to
<br />the Premises located at 127 South Michigan Street, South Bend, Indiana as more particularly
<br />described in Exhibit A; and
<br />WHEREAS, the term of the Lease expires at 12:00 midnight, Eastern Standard Time on
<br />October 31, 2012; and
<br />WHEREAS, Landlord and Tenant desire to extend the term of the Lease and to modify
<br />the terms of the Lease as hereinafter set forth.
<br />NOW, THEREFORE, in consideration of the mutual promises and obligations set forth
<br />herein, the parties make this Fourth Amendment to the Lease as follows:
<br />I The following provision is added to and modifies "SECTION 3.1. THE TERM"
<br />by inserting at the end of the first paragraph, the following:
<br />The Parties agree that the Term of this Lease shall be and hereby is extended
<br />for a period of Sixty (60) months to commence on November 1, 2012 and
<br />expire at 12:00 Midnight, Eastern Standard Time, on October 31, 2017.
<br />2. The following provision is added to and modifies "SECTION 4.2. RENTAL" by
<br />inserting at the end of the first paragraph, the following:
<br />Notwithstanding the foregoing, effective June 1, 2011, Tenant's Base Rental
<br />shall be as follows:
<br />Date Y...
<br />Jun 1, 2011 -
<br />•. range
<br />Oct 31, 2012
<br />$
<br />PSF
<br />7.49
<br />Annually .. _
<br />$24,000.00
<br />Monthly
<br />$ 2,000.00
<br />Nov 1, 2012 -
<br />Oct 31, 2013
<br />$
<br />8.24
<br />$26,400.00
<br />$ 2,200.00
<br />Nov 1, 2013 -
<br />Oct 31, 2014
<br />$
<br />8.99
<br />$28,800.00
<br />$ 2,400.00
<br />Nov 1, 2014 -
<br />Oct 31, 2016
<br />$
<br />9.74
<br />$31,200.00
<br />$ 2,600.00
<br />Nov 1, 2015 -
<br />Oct 31, 2016
<br />$
<br />10.49
<br />$33,600.00
<br />$ 2,600.00
<br />Nov 1, 2016 -
<br />Oct 31, 2017
<br />$
<br />11.24
<br />1 $36,000.00
<br />1 $ 3,000.00
<br />
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