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Filed in Clerk's Offict; <br /> Bianca Tirado <br /> City Clerk, South Bend, IN <br /> FIRST AMENDMENT <br /> This Amendment (the "First Amendment") to the Certified Technology Park ("CTP") <br /> Agreement between the INDIANA ECONOMIC DEVELOPMENT CORPORATION (the <br /> "IEDC") and the CITY OF SOUTH BEND,INDIANA,by and through the SOUTH BEND <br /> COMMON COUNCIL, the legislative body of the City of South Bend, Indiana (the <br /> "Governmental Unit") and the SOUTH BEND REDEVELOPMENT COMMISSION(the <br /> "Commission" and with the Governmental Unit,the"City")(Collectively,the"Parties"). <br /> RECITALS <br /> WHEREAS,the Parties previously entered into that certain CTP Agreement,which <br /> commenced on January 1,2009(the "Original Agreement"); <br /> WHEREAS, the Parties desire to amend the Original Agreement to bring it into compliance <br /> with current law and policy; <br /> WHEREAS,the Original Agreement and this First Amendment shall hereinafter be referred to <br /> collectively as the "Agreement"; and <br /> NOW, THEREFORE, in consideration of the above recitals and the mutual promises, <br /> obligations, and stipulations contained in this Agreement,the Parties hereby agree as follows: <br /> EFFECTIVE DATE <br /> 1. This First Amendment shall take effect on July 1,2023 (the "Effective Date"). <br /> AMENDMENT <br /> 2. Paragraph 2 of the Original Agreement is deleted and replaced in its entirety with the <br /> following: <br /> 2. TERM OF AGREEMENT <br /> The term of this Agreement and the designation of the Cl? shall be from January 1, <br /> 2009 and shall continue in effect during the existence of the park's designation as a CTP <br /> under Section 11 of the Act. In accordance with the Act,the CTP designation is subject <br /> to the continued review of the IEDC and will expire on June 30, 2027(the "Expiration <br /> Date'). The CTP is subject to recertified by the IEDC at any time but in no event less <br /> than every four years upon expiration of the Agreement. If the designation of the CTP <br /> lapses or is terminated, for whatever reason, and this Agreement is subsequently <br /> amended to extend the term and the CTP is recertified,this Agreement shall operate as <br /> if the CTP's designation continuously remained in effect unless the Parties agree <br /> otherwise. <br /> 3. Paragraph 7 is deleted in its entirety and replaced with the following: <br /> 7. CERTIFIED TECHNOLOGY PARK INCREMENTAL TAX FINANCING <br /> FUND: <br /> Page 1 of 5 <br />