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5A4 Lease Agreement MainWayne Parking Garage (SB Bike Garage) - Fully Executed
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5A4 Lease Agreement MainWayne Parking Garage (SB Bike Garage) - Fully Executed
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4/9/2026 1:24:49 PM
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Dept of Community Investment
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<br /> <br />2.3. Quiet Enjoyment. Landlord warrants that it is the owner in fee simple of the <br />Premises, and that it has full right and authority to enter into this Lease, subject to all easements, <br />restrictions, liens, encumbrances, rights-of-way and other matters of record. Landlord agrees that <br />if Tenant observes all of the terms and conditions of, and performs all of its obligations under, this <br />Lease, then, at all times during the Term, subject to the terms and conditions of this Lease, Tenant <br />shall have the peaceful and quiet enjoyment of possession of the Premises, without any manner of <br />hindrance from Parties claiming under, by, or through Landlord. <br /> <br />ARTICLE III <br />TERM <br /> <br />3.1. Term. The term of this Lease will commence on the Effective Date and end on April <br />30, 2029, unless earlier terminated in accordance with the provisions of this Lease (the "Termination <br />Date"). Notwithstanding the foregoing, upon six (6) months’ advance written notice, either Party <br />may revoke and terminate this Lease at any time for any reason. <br /> <br />3.2. Renewal Option. Provided that no Event of Default exists, as hereinafter defined, <br />or any facts which with the giving of notice or passage of time, or both, would constitute an Event <br />of Default exists at the time of the exercise of any option to renew the Term (the "Renewal Option") <br />or exists at the end of the Term, Tenant may renew this Lease for an additional period of two (2) <br />years (the "Extended Term"), on the same terms and provisions as provided in this Lease, except <br />that the Rent due in the Extended Term shall be negotiated with delivery of written notice of the <br />exercise of such option not later than sixty (60) days before the expiration of the Term. If Tenant <br />fails to exercise its option to extend the Term in the time periods set forth in this Section 3.2, <br />Tenant's option to renew shall immediately terminate and have no further force or effect, without <br />further notice from Landlord. <br /> <br />3.3. Holding Over. If Tenant fails to surrender the Premises upon the expiration of the <br />Term or earlier termination of the Lease (it being agreed that Tenant shall not be permitted to so <br />hold over without Landlord's written consent), Tenant shall pay Landlord for each day of such <br />holding over a sum equal to Fifty Dollars ($50.00) per day in which such holding over occurs, plus <br />any other amounts which Tenant would have been required to pay had this Lease been in effect (the <br />"Holdover Rent"). If Tenant holds over without Landlord's written consent for a period in excess <br />of thirty (30) days without any action from Landlord to dispossess Tenant, Tenant shall be deemed <br />to occupy the Premises on a tenancy from month-to-month at the Holdover Rent, and all other terms <br />and provisions of this Lease shall be applicable to such period. At any time, either Party may <br />terminate such tenancy from month-to-month upon written notice delivered to the other Party at <br />least thirty (30) days in advance. Tenant hereby waives any and all notice to which Tenant may <br />otherwise be entitled under the laws of the State of Indiana as a prerequisite to a suit against Tenant <br />for unlawful detention or possession of the Premises. Tenant shall Indemnify, as hereinafter <br />defined, Landlord from any Loss, as hereinafter defined, resulting from such hold over, including <br />without limitation any liability incurred by Landlord to any succeeding tenant of the Premises. <br /> <br /> <br />
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