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il s .11` :s (h) Security Deposit: Intentionally Omitted. A. ameaw equal to the fir-°* menth's Modified GFess Refit as seeaFhy deposit shall be due lease. (i) The Building: upen signing of Michigan Street Shops, commonly referred to as 117 — 131 S. Michigan St, South Bend, Indiana, as more particularly described in Exhibit A, and depicted in Exhibit B, each attached hereto and made a part hereof. Q) Effective Date: The date of last execution hereof by Landlord or Tenant. (k) Delivery Date: The date to which possession is delivered to the Tenant as determined in Section 4.1. (1) Commencement Date: The date on which the "Initial Term" commences as determined in Section 3.1. 1.2. Modified Gross Rent. Modified Gross Rent includes Base Rent plus estimated Additional Rent (currently $4.92 per square foot per year) and Percentage Rent, (collectively the "Rent "). Tenant shall pay the greater of a.) ten (10 %) percent of Gross Sales, or b.) a minimum of four hundred fifty three and 46/100 dollars ($453.46) per month to be phased in over the first several months of the Lease as follows: ARTICLE II. PREMISES. 2.1. Premises. Landlord is the owner of the Building. Landlord, in consideration of the Rent, as hereinafter defined, to be paid and the covenants to be performed by Tenant, hereby leases to Tenant, and Tenant hereby leases from Landlord, that certain premises located in the Building and depicted on Exhibit C (the "Premises "), subject to the terms and conditions of this Lease. Landlord reserves the right, with respect to the Building, to modify, increase or decrease: the number, location, dimension, size, and height of buildings and other improvements in the Building; and the identity and type of other tenants. Tenant's interest in the Premises is and shall be subject to all easements, restrictions, liens, encumbrances, rights -of -way, or other matters now or hereafter of record affecting the Premises or the Building. 2.2. Common Areas. Tenant shall have the right, in common with all other tenants in the Building, to use the areas in and around the Building designated by Landlord from time to time as common areas, including, without limitation, hallways, stairs, elevators, sidewalks, interior drives, parking areas and green areas (the "Common Areas "), subject to the Rules, as hereinafter defined. Landlord shall operate, maintain and insure the Common Areas for their intended purposes in such a manner as Landlord shall determine to be necessary or appropriate, including, without limitation, that Landlord at any time may close or change any part of the Common Areas as Landlord determines to be necessary or appropriate. Tenant understands that Landlord does not control the sidewalks located in the Michigan Street right of way. Tenant will file its request with the South Bend Board of Public Works for use of a portion of the sidewalk area for outdoor seating. Landlord will not oppose such request.