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(h) Security Deposit: A security deposit equal to first month's gross rent shall
<br />be paid in equal monthly installments over a three (3)
<br />month period. First month's Gross Rent shall be due
<br />upon lease signing.
<br />(i) The Building: Wayne Street Retail, commonly referred to as 117 E.
<br />Wayne St, South Bend, Indiana, as more particularly
<br />described in Exhibit A, and depicted in Exhibit B, each
<br />attached hereto and made a part hereof.
<br />0) Effective Date: The date of last execution hereof by Landlord or Tenant.
<br />(k) Delivery Date: The date to which possession is delivered to the Tenant
<br />as determined in Section 4.l .
<br />(1) Commencement Date: The date on which the "Initial Term" commences as
<br />determined in Section 3.1.
<br />1.2. Base Rent. Tenant shall pay as outlined below and further defined in Section 5.1, Base Rent, in
<br />equal monthly installments commencing on the Commencement Date and thereafter during the entire Term on or
<br />before the first day of each calendar month, in advance. Tenant shall also pay Additional Rent, Common Expenses,
<br />Real Estate Tax Expenses, Insurance Expenses and Utilities as outlined in Article V below.
<br />Base Rent Base Rent Base Rent
<br />Squaie Foot r
<br />Year 1 $ 6.33 $ 1 8,000.01ri $ 1,500.00
<br />Year 2 $ 7.38 $ 21,000.00 $ 1,750.00
<br />Year 3 $ 8.44 $ 24 ,000.00 $ 2,000.00
<br />ARTICLE II.
<br />PREMISES.
<br />2.1. Premises. Landlord is the owner of the Building. Landlord, in consideration of the Rent, as
<br />hereinafter defined, to be paid and the covenants to be performed by Tenant, hereby leases to Tenant, and Tenant
<br />hereby leases from Landlord, that certain premises located in the Building and depicted on Exhibit A & B (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 all 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 tenants 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, hallways, 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 sidewalk area for outdoor seating. Landlord will not oppose such request.
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