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OFFERING SHEET <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />The South Bend Redevelopment Commission (the "Commission'), the governing body of the <br />City of South Bend, Indiana (the "City"), Department of Redevelopment, is offering for lease certain <br />personal property as described at Exhibit A attached hereto and incorporated herein (the "Property"). The <br />Property is to be used for economic development purposes in the Airport Economic Development Area <br />(the "Area ") and such use must comply with all requirements, terms, conditions, and limitations as set <br />forth herein. The following are the terms upon which the Commission will lease the Property: <br />Lease: The term of the lease agreement for the Property shall be seven (7) years <br />and the pricing terms shall be based upon a total Property value equal to <br />$138,000 (the "Property Value'). Annual rental payments under the <br />lease agreement shall be approximately one - seventh (1/7) of the Property <br />Value, unless otherwise agreed to by the Commission and the successful <br />bidder taking into account any additional agreed upon obligations of the <br />successful bidder. The lease agreement shall contain such other terms <br />and conditions mutually agreed to by the Commission and the successful <br />bidder. <br />Conditions: The Property may only be used for economic development purposes <br />within the Area. The successful bidder for the Property must <br />demonstrate to the satisfaction of the Commission that such successful <br />bidder will (a) promptly upon the completion of the first multi- tenant <br />facility at Ignition Park locate or relocate all of its City operations to a <br />location at or within Ignition Park, the South Bend Renaissance District <br />or otherwise within the Area and (b) utilize the Property in accordance <br />with a plan that anticipates the creation of at least thirteen (13) new jobs <br />in the Area tha[are related to the technology or biotechnology sector and <br />new capital investment of at least $2,600,000 within the Area. <br />Any proposals submitted to the Commission must be executed by an authorized individual and <br />describe with specificity the use of the Property in conjunction with the development thereof and <br />acknowledgment of the terms and conditions described hereinabove. In determining the best proposals, <br />the Commission shall consider the factors set forth in Indiana Code 36- 7- 14- 22(f). <br />Dated this day of 2012. <br />I� <br />M <br />DMS_US 51065959v2 <br />SOUTH BEND <br />REDEVELOPMENT COMMISSION <br />President <br />