5A02 Lease Agreement SB Bike Garage Inc.

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LEASE This Lease ("Lease") is made effective as of _________ (the "Effective Date"), by and between the City of South Bend, Indiana, Department of Redevelopment, acting by and through its governing body the South Bend Redevelopment Commission (the "Landlord"), and South Bend Bike Garage Inc, an Indiana Nonprofit Corporation (the "Tenant") (each a "Party," and together, the "Parties"). RECITALS A.Landlord exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953, as amended, being I.C. 36-7-14 (the "Act"). B.Landlord owns certain real property and improvements located in South Bend, Indiana, commonly referred to as 119 W. Wayne Street (the "Property"), and more particularly described in the attached Exhibit A. C.Landlord and Tenant desire to enter into a lease , under which Landlord will lease to Tenant a portion of the Property comprised of approximately 1,680 square feet of commercial space located on the first (main) floor of the building and including the lower (basement) level D.The term of the Lease of the Premises shall be eighteen (18) months. 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: ARTICLE I BASIC LEASE PROVISIONS 1.1. Basic Lease Provisions. The following basic provisions of this Lease (the "Basic Lease Provisions") constitute an integral part of this Lease and are set forth in this Section 1.1 for the convenience of the Parties. The following Basic Lease Provisions shall be applied to and construed with the other relevant terms of this Lease and the Lease as a whole. (a)Premises: Defined in Section 2.1, consisting of approximately 1,680 square feet of commercial space located on the ground floor and including the lower level within the Building commonly referred to as 119 W. Wayne Street. 10-24-2024