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(i)
<br />The Building:
<br />Michigan Street Shops, commonly referred to as 117 —
<br />Monthly
<br />Lease Year
<br />131 S. Michigan St, South Bend, Indiana, as more
<br />MGR
<br />MGR
<br />particularly described in Exhibit A, and depicted in
<br />$ 0.00 - $ 5.53
<br />$6,116.00
<br />Exhibit B, each attached hereto and made a part hereof.
<br />(j)
<br />Effective Date:
<br />The date of last execution hereof by Landlord or Tenant.
<br />(k)
<br />Delivery Date:
<br />The date to which possession is delivered to the Tenant
<br />$16,070.00
<br />$1,339.00
<br />as determined in Section 4.1.
<br />(1)
<br />Commencement Date:
<br />The date on which the "Initial Term" commences as
<br />determined in Section 3.1.
<br />1.2. Modified Gross Rent. Modified Gross Rent ( "MGR") includes the Basic Rent plus the estimated
<br />Additional Rent charges of $5.53 per square foot per year:
<br />Initial Term
<br />Per Sq. Foot
<br />Annual
<br />Monthly
<br />Lease Year
<br />Basic Rent —MGR
<br />MGR
<br />MGR
<br />6 Months
<br />$ 0.00 - $ 5.53
<br />$6,116.00
<br />$510.00
<br />1
<br />$ 9.00 - $ 14.53
<br />$16,070.00
<br />$1,339.00
<br />2
<br />$ 9.00 - $ 14.53
<br />$16,070.00
<br />$1,339.00
<br />3
<br />$ 9.00 - $ 14.53
<br />$16,070.00
<br />$1,339.00
<br />Modified Gross Rent for any Extended Term shall be five percent (5 %) over the previous lease term.
<br />ARTICLE II.
<br />PREMISES.
<br />2.1. Premises. Landlord is the owner of the Building. Landlord, in consideration of the Rent, as
<br />hereinafter defined, to be paid and the covenants to be performed by Tenant, hereby leases to Tenant, and Tenant
<br />hereby leases from Landlord, that certain premises located in the Building and depicted on Exhibit C (the
<br />"Premises "), subject to the terms and conditions of this Lease. Landlord reserves the right, with respect to the
<br />Building, to modify, increase or decrease the number, location, dimension, size, and height of buildings and other
<br />improvements in the Building; and the identity and type of other tenants. Tenant's interest in the Premises is and
<br />shall be subject to all easements, restrictions, liens, encumbrances, rights -of -way, or other matters now or hereafter
<br />of record affecting the Premises or the Building.
<br />2.2. Common Areas. Tenant shall have the right, in common with all other tenants in the Building, to
<br />use the areas in and around the Building designated by Landlord from time to time as common areas, including,
<br />without limitation, hallways, stairs, elevators, sidewalks, interior drives, parking areas and green areas (the
<br />"Common Areas "), subject to the Rules, as hereinafter defined. Landlord shall operate, maintain and insure the
<br />Common Areas for their intended purposes in such a manner as Landlord shall determine to be necessary or
<br />appropriate, including, without limitation, that Landlord at any time may close or change any part of the Common
<br />Areas as Landlord determines to be necessary or appropriate. Tenant understands that Landlord does not control the
<br />sidewalks located in the Michigan Street right of way. Tenant will file its request with the South Bend Board of
<br />Public Works for use of a portion of the sidewalk area for outdoor seating. Landlord will not oppose such request.
<br />2.3. Quiet Enjoyment. Landlord warrants that it is the owner in fee simple of the Building, and that it
<br />has full right and authority to enter into this Lease, subject to all easements, restrictions, liens, encumbrances, rights -
<br />of -way and other matters of record. Landlord agrees that if Tenant observes all of the terms and conditions of, and
<br />performs all of its obligations under, this Lease, then, at all times during the Term, subject to the terms and
<br />conditions of this Lease, Tenant shall have the peaceable and quiet enjoyment of possession of the Premises, without
<br />any manner of hindrance from parties claiming under, by, or through Landlord.
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