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MEMORANDUM OF UNDERSTANDING THIS MEMORANDUM OF UNDERSTANDING (the "Agreement") is made effective as of the 3rd day of September, 2014, by and among Swing-Batter-Swing, LLC (the "Company"); the Board of Park Commissioners (the "Park Board") of the Park District of the City of South Bend, Indiana (the "Park Department"); the South Bend Redevelopment Commission (the "Commission"), governing body of the South Bend Department of Redevelopment; and the Board of Public Works of the City of South Bend, Indiana (the `Board of Works") (the Company, Park Board, the Commission, and the Board of Works being sometimes collectively referred to herein as the "Parties"). RECITALS WHEREAS, the Park Board is authorized under I.C. 36-10-4 to administer, improve, lease and sell park property for the City of South Bend; and WHEREAS,the City, acting by and through the Park Board, is the owner of certain real property and improvements more commonly known and operated as Four Winds Field at Stanley Coveleski Regional Stadium(the "Stadium ")in the City of South Bend, Indiana(the"City); and WHEREAS, pursuant to I.C. 36-9-6-1 et. seq., the Board of Works has the duty and authority to have custody, control, use, and to dispose of all real and personal property owned by the City of South Bend, Indiana; and WHEREAS, the Commission exists and operates under the provisions of Indiana Code 36-7-14(the"Act"); and WHEREAS, the Company presently owns and operates a professional minor league baseball team in South Bend, Indiana, currently known as the "South Bend Silver Hawks" (the "Team "), a Class A Minor League Franchise in the Midwest League of Professional Baseball Clubs, Inc., a member league of the National Association of Professional Baseball Leagues, Inc.; and WHEREAS,the Team plays its homes games at the Stadium ,pursuant to a Stadium Use, Management and Operations Agreement dated as of December 13, 2011, between the Company, as assignee of South Bend Professional Baseball Club LLC, and the Park Board, as the same has been amended; and WHEREAS, in conjunction with its home games, the Company has been utilizing certain parking lots owned by the Park Board and located adjacent to the Stadium with the permission and approval of the Park Board; and WHEREAS, the Company has proposed to construct at its own cost a professional grade batting cage facility consisting of a minimum of six (6) batting cages with equipment areas, US.54748561.02