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6C (2)
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07-26-11 Packet
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6C (2)
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11/1/2012 2:08:57 PM
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7/22/2011 2:21:15 PM
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EARLY TERMINATION OF LEASE <br />SPARK DESIGN STUDIOS, LLC <br />This Early Termination of Lease is made and entered into this day of <br />, 2011, by and between the South Bend Redevelopment Commission (the <br />"Commission ") and Spark Design Studio, LLC (the "Tenant "). <br />WHEREAS, the Commission and the Tenant entered into a lease on or about the 1 st day <br />of September, 2009 (the "Lease "); and <br />WHEREAS, the Tenant is current on all payments due the Commission, including all <br />rent and common area maintenance fees; and <br />WHEREAS, the rent paid by the Tenant is sufficient to cover the cost of tenant <br />improvements and any leasing commissions paid by the Commission; and <br />WHEREAS, the conditions of the premises leased by the Tenant conform to the <br />requirements of the Lease and are acceptable to the Commission; and <br />WHEREAS, as a condition of the termination of the Lease the Tenant and any <br />Guarantors of the Tenant will agree not to relocate to another space within the South Bend <br />Central Development Area for a period of not less than one year. <br />NOW, THEREFORE, it is agreed between the parties as follows: <br />1. Pursuant to the Lease entered into by and between The South Bend <br />Redevelopment Commission and Spark Design Studio, LLC, and further pursuant to the South <br />Bend Redevelopment Commission Policy for Early Lease Termination, as amended, the Lease is <br />hereby terminated as of July , 2011. <br />2. The Tenant and all Guarantors of the Tenant agree not to relocate to another space <br />within the South Bend Central Development Area for a period of not less than one year. <br />3. In the event that the Tenant or a Guarantor of the Tenant relocates to another <br />space within the South Bend Central Development Area during the one year period following <br />execution of this agreement, then this Early Termination of Lease shall be null and void and the <br />Tenant and all Guarantors will be held to the original terms of the Lease. <br />(Signature Page Follows) <br />
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