Resolution No 45-2022 - Accepting Purchase of Real Property SBCSC Admin. Building

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1 ADMINISTRATIVE OFFICE LEASE This Administrative Office Lease (“Lease”) is made effective as of [insert building closing date] (the “Effective Date”), by and between the City of South Bend, Indiana, a municipal corporation, acting by and through the South Bend, Indiana Board of Public Works (the “Landlord”), and the South Bend Community School Corporation, an Indiana public school corporation (the “Tenant”) (each a “Party,” and together, the “Parties”). RECITALS A.As of the Effective Date of this Lease, Landlord owns certain real property located in South Bend, Indiana, commonly known as parcel number 71-08-12-158-012.000-026 and more particularly described in the deed attached Exhibit 1 (the “Property”), having acquired the Property from Tenant on the Effective Date pursuant to that certain Real Estate Purchase Agreement made between the Parties, dated September 27, 2022 (the “Purchase Agreement”). B.The Parties have agreed Tenant will be able to continue occupying and using its existing office space in the Property on the Effective Date, as it requires additional time to renovate an existing school building for use as new office space following the Effective Date. C.Until said renovations at Tenant’s new office space are complete, Landlord and Tenant desire to enter into a lease, under which Landlord will lease to Tenant the Property, as agreed to herein. NOW, THEREFORE, in consideration of the mutual promises and obligations set forth in this Lease, the adequacy of which is hereby acknowledged, the Parties agree as follows: 1.Leased Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Property. Landlord reserves the right to perform maintenance and improvements to the Property to modify, increase, or decrease the location, dimension, size, and height of improvements in the Property at its sole discretion after consultation with Tenant.. 2.Lease Term. The term of this Lease shall begin on the Effective Date and end no later than July 31, 2024, subject to the Termination and Surrender and Holdover provisions below. Tenant shall provide Landlord with monthly informal written updates, including but not limited to an estimated departure date, on its construction timeline on or about the last day of each month following the Effective Date. 3.Rent. In consideration hereof, the Tenant covenants and agrees to pay all existing utility accounts in Tenant’s name before the Effective Date and other routine costs of building maintenance and daily operations incurred by Landlord during the Lease Term, as described in Section 9 of this Lease. Tenant shall keep all utilities currently in Tenant’s name throughout the term of this Lease, except as otherwise set forth herein. The Parties acknowledge that immediately prior to the Effective Date, Tenant owned and occupied the Property and had sufficient utilities for its needs as of the Effective Date. If new utilities must be added or accessed during the term of the Lease, Landlord may agree to allow the installation of such utility service, provided that the