5A2 Notice to Commence Agreement (Madison Lifestyle, Great Lakes Capitol) - Fully Executed

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Docusign Envelope ID: 445E3BC9-B4DF-85DA-80E4-E5228A18F7BD overall Madison Lifestyle District. The Parties acknowledge that the scope, timing, and configuration of Phase 2 have not yet been finalized, and that Phase 2 development will be subject to further planning, underwriting, and mutual agreement of the Parties. The Parties mutually reserve the right to initiate a separate notice to commence process for Phase 2 of the Project (a "Phase 2 Notice to Commence"). The Parties agree to work cooperatively and in good faith to initiate the Phase 2 Notice to Commence process no later than October 31, 2027. The Phase 2 Notice to Commence shall be a standalone operative document, developed collaboratively by the Parties, and shall address the scope, economics, municipal participation framework, timing, and implementation details applicable to Phase 2. The Parties mutually acknowledge and preserve their respective rights under the Development Agreement with respect to Phase 2. 8. Miscellaneous. (a) Counte arts• Electronic Signatures. This Commencement Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Electronic signatures shall be deemed valid and binding. (b) Entire Agreement; Amendments. This Commencement Agreement, together with the Development Agreement, Confirmation Agreement, and all prior amendments thereto, constitutes the entire agreement of the Parties with respect to the subject matter hereof. This Commencement Agreement may not be amended except by a written instrument signed by authorized representatives of both Parties. (c) Governing Law. This Commencement Agreement shall be governed by and construed in accordance with the laws of the State of Indiana. Venue for any dispute arising hereunder shall be in the courts of St. Joseph County, Indiana. (d) Authority. Each Party represents and warrants that it has full power and authority to execute this Commencement Agreement and to perform its obligations hereunder, and that the persons executing this Commencement Agreement on behalf of each Party are duly authorized to do so. (e) Notices. All notices under this Commencement Agreement shall be in writing and delivered in accordance with the notice provisions of the Development Agreement, to the addresses on file for each Party, including any updated address as filed with the Commission. [Signature Page Follows] NOTICE TO COMMENCE AGREEMENT PAGE 7