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<br /> <br />-1- <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />DRAINAGE EASEMENT AGREEMENT <br /> <br />THIS DRAINAGE EASEMENT AGREEMENT (this “Agreement”) is made and entered <br />into effective as of this 28th day of September 2021, by and among the City of South Bend, Indiana, <br />acting by and through its Board of Public Works (collectively the “City”), and Commerce Center <br />Development LLC, an Indiana limited liability company (“CCD”) (each a “Party,” and collectively <br />the “Parties”), upon the following terms and conditions: <br /> <br />RECITALS <br /> <br /> A. CCD owns real property in South Bend, Indiana, on which it has constructed a <br />multi-story mixed-use building (the “Development”), which property is more particularly <br />described in Exhibit A, attached hereto (the “CCD Parcel”). A portion of the CCD Parcel is a <br />parking lot, and CCD requires a drainage solution for stormwater runoff from the parking lot. <br /> B. The City owns real property in South Bend, Indiana known as the East Bank Trail, <br />including a retaining wall appurtenant thereto, through a portion of which the City has agreed to <br />provide CCD an easement for drainage of stormwater runoff from the CCD Parcel parking lot into <br />the East Race Waterway. The portion through which the City shall grant CCD an easement is <br />more particularly described in Exhibit B, attached hereto (the “Easement Parcel”). <br /> C. The Parties hereto desire to enter this Agreement on the terms and conditions hereinafter <br />set forth. <br /> <br /> NOW, THEREFORE, in consideration of ten dollars ($10.00) and other good and valuable <br />consideration and of the covenants herein contained, the Parties hereby covenant and agree, that <br />the Easement Parcel shall be and hereby is subject to a non-exclusive easement in gross hereinafter <br />described in this Agreement. <br /> <br />1. Recitals. The foregoing recitals are a part of and shall be integrated into this <br />Agreement. <br />2. Ownership of Easement Parcel. The City represents and warrants that it is lawfully <br />seized of the Easement Parcel, that it has full right and power to grant the easements <br />contained herein, and that the Easement Parcel is free from all encumbrances, <br />except any matters of record.