5C1 2nd Amendment to Purchase Agreemenet (Fire Station 9) - Signed

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1 SECOND AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT This Second Amendment To Real Estate Purchase Agreement (this “First Amendment”) is made on November 14, 2024 (the “Effective Date”), by and between the South Bend Redevelopment Commission, the governing body of the City of South Bend Department of Redevelopment (“Seller”), and Fire Station No 9 LLC, a foreign limited liability company authorized to transact business in the State of Indiana, with its registered office at 424 S. Michigan Street, Unit 913, South Bend, IN 46624 (“Buyer”) (each a “Party,” and collectively the “Parties”). RECITALS A.Seller and Buyer entered into that certain Real Estate Purchase Agreement dated June 9, 2022, as amended by that certain First Amendment to Real Estate Purchase Agreement, dated effective August 25, 2022, and as assigned and assumed by that certain Assignment and Assumption Agreement dated effective October 27, 2022 (collectively, the “Purchase Agreement”), for the purchase and sale of the Property (as defined in the Purchase Agreement) located in the City of South Bend. B.Buyer is continuing its construction of improvements of the Property pursuant to Section 12 of the Purchase Agreement and has requested an extension of the Buyer’s Post-Closing Development Obligations Period. C.Seller desires to grant the requested extension as stated in this Second Amendment. NOW, THEREFORE, in consideration of the mutual promises and obligations in this Second Amendment and the Purchase Agreement, the adequacy of which consideration is hereby acknowledged, the Parties agree as follows: 1.Section 12.A. of the Purchase Agreement shall be revised to replace the term “Twenty-Four (24) months” with the term “Thirty-Six (36) months” and shall read as follows: A.Property Improvements; Proof of Investment. Within Thirty-Six (36) months after the Closing Date, the Buyer will expend an amount not less than Two Hundred and Fifty Thousand Dollars ($250,000.00) on improvements to the site, as well as the cost of equipment, needed to redevelop the Property for the uses set forth herein (“Property Improvements”). Promptly upon completing the Property Improvements, Buyer will submit to Seller satisfactory records, as determined in Seller’s sole discretion, proving the above required expenditures and will permit Seller (or its designee) to inspect the Property to ensure that Buyer’s Property Improvements were completed satisfactorily. 2.Section 12.B.(ii) shall be revised to replace the term “24 months” with the term “36 months” and shall read as follows: (ii) Complete construction of the project within 36 months of the Closing Date; 3.Unless expressly modified by this Second Amendment, the terms and provisions of