Laserfiche WebLink
Addendum to Lease Between <br />City of South Bend Building Corporation, as Lessor, <br />and City of South Bend, Indiana, as Lessee <br />(Fire Station Project and Police Station Project) <br />THIS ADDENDUM, made and entered into this 151 day of July, 2003 (the <br />"Addendum "), between City of South Bend Building Corporation, an Indiana non - profit <br />corporation (the 'Building Corporation "), and City of South Bend, Indiana the "Lessee "), <br />WITNESSETH: <br />WHEREAS, the Building Corporation and Lessee have entered into a lease <br />dated as of April 1, 2003 (the "Lease "), which was recorded in the office of the Recorder of St. <br />Joseph County, Indiana, as Document Number ; and <br />WHEREAS, Section 2 of the Lease provides that the reduced annual rental <br />payable by the Lessee shall be endorsed on the Lease and recorded as an addendum to the Lease; <br />NOW, THEREFORE, IT IS HEREBY AGREED, CERTIFIED, AND <br />STIPULATED by the undersigned that: <br />1. Fire Station Rental. The first semiannual rental installment in the amount of <br />Three Hundred Seventy -eight Thousand Eight Hundred Forty and 00 /100 Dollars ($378,840) <br />shall be due on the later of (i) the day that the Fire Station Project to be erected on the premises <br />is completed and ready for occupancy, or (ii) January 15, 2005. If completion of the Fire Station <br />Project is later than January 15, 2005, the first installment shall be in an amount which provides <br />for rental at the rate specified for the Fire Station Project in Exhibit A attached hereto and made a <br />part hereof for the semiannual period in which the Fire Station Project is completed and ready for <br />occupancy, prorated from the date of such completion .until the first July 15 or January 15 <br />following such date of completion. Thereafter, such rental shall be payable in advance in <br />semiannual installments on July 15 or January 15 of each year as provided for in the attached <br />lease payment schedule at Exhibit A. The last semiannual rental payment due with respect to the <br />Fire Station Project before the expiration of this Lease shall be adjusted to provide for rental at <br />the yearly rate specified for the Fire Station Project in Exhibit A prorated from the date such <br />installment is due to the date of the expiration of this Lease. <br />2. Police Station Rental. The first semiannual rental installment in the amount of <br />Two Hundred Twenty Thousand and 00 /100 Dollars ($220,000) shall be due on January 15, <br />2004. Thereafter, such rental for the Police Station Project shall increase until completion of the <br />Police Station Project and be payable in advance in semiannual installments in the amounts and <br />on the dates set forth at Exhibit A. Upon the later of (i) the day that the Police Station Project is <br />completed and ready for occupancy, or (b) July 15, 2005, the semiannual rental installment due <br />shall be Four Hundred Eighty -two Thousand Seven Hundred Twenty and 00 /100 Dollars <br />($482,720.00). If completion of the Police Station Project is later than July 15, 2005, the first <br />installment shall be in an amount which provides for rental at the rate specified for the Police <br />Station Project in Exhibit A attached hereto and made a part hereof for the semiannual period in <br />which the Police Station Project is completed and ready for occupancy, prorated from the date of <br />such completion until the first July 15 or January 15 following such date of completion. <br />SBIMAN 1155447v I <br />