Project Agreement - University of Notre Dame du Lac and FREG Stephenson Mill Assoc.

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fiscal tax period for which assessed (based upon the maximum discount rate available, if applicable). Taxes shall be prorated at the Closing based upon the most recently issued bills therefor, and once the final tax bill is issued, if the Taxes set forth in the final tax bill are different from the amounts used for preliminary proration, then the proration will be recalculated using the final tax bill with any deficiency or over payment reconciled and refunded or paid by the City, FREG Stephenson or FREG Central, as the case may be. The obligations of this section shall survive shall the Closing or any termination of this Agreement. I. At the Closing, the City shall pay for: (i) the cost of an updated or new ALTA Extended Coverage Owner's Policy of Title Insurance (each an "Owner's Policy") for (A) Lot 1 of the Opelika Minor Subdivision, Lot 2 of the Seitz Park Subdivision and Shared, Perpetual, Non -Exclusive Ingress and Egress Easement over a portion of Lot 1 of the Seitz Park Subdivision for FREG Stephenson, and (B) Parcels 1 and 2 of Central High for FREG Central, each in the same insured amount and with the same endorsements as the existing owner's policy for FREG Stephenson and FREG Central; (ii) the cost of an updated or new ALTA Coverage Lender's Policy of Title Insurance (each a "Lender's Policy") in such amount and such endorsements as reasonably required by FREG's Lender; (iii) all transfer tax, stamp tax, deed tax, documentary fees or similar taxes imposed on account of the recordation of the deeds or the transfer of Lot 2 of the Seitz Park Subdivision and Parcel 2 of Central High; (iv) all recording fees; and (v) all escrow fees and closing fees of Fidelity related to these transactions. 3) POST -CLOSING RESPONSIBILITIES OF THE PARTIES A. Property Tenant Parkin 1. The City will cause not less than 26 free parking spaces (the "26 Free Parkin g Spaces") to be provided at the site (318 E. Colfax, South Bend, Indiana) owned by Wharf Partners and located nearby the Property or (in addition to the 25 Parking Spaces, as defined in Section 3.A.2) within the existing parking lot adjacent to the Property (the "Replacement 26 Parkip 5p4 5") for use by the Property's tenants and as partial consideration for the reduction in the number of parking spots for the duration of the Project. The location of the 26 Free Parking Spaces shall be in the area outlined on Exhibits E attached hereto. Prior to the commencement of the University Project, the University will, at its sole cost and expense, provide for reasonable pavement and striping of the 26 Free Parking Spaces, in addition to adequate lighting of the 26 Free Parking Space where necessary. FREG Stephenson will be responsible for general winter care of the 26 Free Parking Spaces including, but not limited to, snow removal and salting, but in no event shall FREG Stephenson by responsible for filling of any pot holes, patching, resealing or other such costs. 2. In addition to the 26 Free Parking Spaces, a minimum of 25 parking spaces (the "25 Parking! S of aces") will, at all times, remain available during the Project within the existing parking lot adjacent to the Property comprised of Lot 2 of the Seitz Park Subdivision and depicted on Exhibit -I attached hereto, as the same may be replaced