5A8 & 9 Assignment - Confirmation Agreements (Great Lakes Capital) - Signed

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CONFIRMATION AGREEMENT PAGE 1 CONFIRMATION AGREEMENT THIS CONFIRMATION AGREEMENT Agreement made and entered into effective as of November _25th, 2024 , by and between Great Lakes Capital Development, LLC, an Indiana limited liability company and the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend (each, a Party, and collectively, the arties ). BACKGROUND A. Developer and Commission are parties to a certain Development Agreement dated which sets forth various rights and obligations related to development of the Project Property for the Project (as defined in the Development Agreement, as may be amended from time to time). Terms used but not otherwise defined herein are as defined in the Development Agreement. B. parties to a certain Northern Indiana Regional Development Authority Regional Economic Acceleration and Development Initiative Subgrant Agreement dated _November 18_____, 2024 (the award $11,780,000 (the to perform work necessary in connection with the Project as well as a Repayment Agreement regarding the repayment of all or portion of the READI Grant in certain events (the . C. The Development Agreement contemplates that the Parties use the READI Grant (as defined in the Development Agreement, as may be amended from time to time) for the Project. D. Simultaneous with this Agreement, the Developer and Commission are entering into a certain Assignment of Project Funds Agreement (with separate consent of RDA), for Parties to apply for and receive all or a portion of the READI Grant from the RDA subject to the terms of such agreement (the E. The Parties desire to make a claim for the RDA to pay a portion of the READI Grant to Commission, for reimbursement to or use by the Commission in connection with work to be performed in furtherance of the Project, which includes demolition of the six-story office building located at 531 N. Main Street, South Bend, Indiana 46601 owned by Beacon Health System and/or its affiliates, construction of a surface parking lot on the site, and other activities . F. The Parties acknowledge that use of the READI Grant for Other Work (although permitted under the Subgrant Agreement with the RDA) is not contemplated under the Development Agreement as part of spending required for Local Public Improvements for the Project as of March 28, 2024.