Encroachment & Revocable Permit - Eddy St. Commons Phase II - Kite Realty Group

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I'3►.V i CROSS-REFERENCES: As to Lots 1 and 3: Instrument No. 1721844 As to Lots 2, 4, 9 and 10: Instrument No. 1721845 All in the office of the Recorder of St. Joseph County, Indiana MEMORANDUM OF AGREEMENT THIS MEMORANDUM OF AGREEMENT (this "Memorandum") is made as of the , 2018, by and between the City of South Bend, a municipal corporation existing under the laws of Indiana, acting by and through its Board of Public Works ("City"), and KRG Eddy Street Land II, LLC, an Indiana limited liability company ("Owner"). RECITALS A. City and Owner entered hito that certain Eddy Phase II Dedicated hmprovements Agreement of even date herewith (the "Agreement") pursuant to which City granted Owner certain rights, and Owner undertook certain obligations with respect to certain real property located in the City of South Bend, St. Joseph County, Indiana, as more particularly identified in the Agreement. B. City and Owner desire to execute and record a memorandum of the Agreement. NOW, THEREFORE, for andnr consideration of the foregoing premises, the Agreement and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, City and Owner hereby represent and acknowledge the following: 1. Maintenance Obli ag tion. Pursuant to the Agreement, Owner shall be responsible for maintaining ("Owner's Maintenance Obligation") certain components of the Dedicated Improvements (defined in the Agreement), namely decorative bollards, landscape accent lighting, landscaping, hardscaping, signage specific to development (i.e. directional signage, building parking signage, and other similar signage), storm water channel from Howard Street to Corby Boulevard, all private infrastructure within the public right-of-way along Eddy Street from Napoleon Boulevard to Howard Street; along St. Vincent Street from the alley west of Eddy Street to Georgiana Avenue; and along the alley west of Eddy Street from Howard Street to St, Vincent Street (the "R.O.W.") (collectively, the "Owner Maintenance Improvements"). For the avoidance of doubt, City shall be responsible for maintaining, and Owner shall have no obligation to maintain, roadway pavement, curbing, street lights and poles and associated improvements, standard street signage, snow and ice removal in, on or about the R.O.W., none of which shall be part of the Owner Maintenance Improvements. City hereby grants to Owner a non-exclusive right to enter in, on, over, under and across the R.O.W. and such other land owned or controlled by City as Owner determines reasonably necessary or convenient for the purposes of performing Owner's Maintenance Obligation until such time as Owner is released from Owner's Maintenance Obligation.