07-13-15 Agenda, Packet & Committee Meeting Notice

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1. Background Provisions. The background provisions above are incorporated into the body of this Master Lease as if fully set forth herein and made a part hereof. 2. Grant of Master Lease. (a) Lease of Building. Subject to the terms and conditions set forth herein, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the entire Building to be constructed on the Real Estate (consisting of approximately 200,000 square feet) together with the non - exclusive right to utilize all parking, driveway and other site improvements located on the Real Estate (the "Premises "). (b) Construction and Delivery of Premises. Landlord shall cause the Building and all site improvements to be completed in accordance with the terms and conditions of the Site Plans and Development Agreement. Landlord agrees to use all good faith and commercially reasonable efforts to (i) deliver the Premises to Tenant in a form of Substantial Completion (as defined below) as soon as practicable, with a targeted date of delivery ("Delivery Date ") being within twelve (12) months after acquisition of the Real Estate, (ii) cooperate and work in good faith with Tenant to coordinate for applications and receipt of applicable building permits and schedules to advance the Delivery Date, and (iii) provide Tenant with routine updates on its construction and other schedule in anticipation of the Delivery Date. The Premises will be considered in a form of "Substantial Completion" at such time as (x) Landlord and/or its certified architect or engineer, shall certify in writing to Tenant that the Building has been completed in substantial accordance with the Site Plans (regardless of whether slab floors are installed and/or whether certain features unique to future tenants (eg., location of dock doors, office build -outs, etc.) are complete)), and (y) a certificate of occupancy (whether temporary or permanent) is issued for the Premises by the St. Joseph County Building Department (or could be issued upon installation of floor slabs) (the "Certificate of Occupancy "). (c) Common Areas. Landlord hereby grants to Tenant and its employees, visitors, vendors and invitees, a non - exclusive right and privilege to use all parking areas, driveways, means of ingress and egress and other areas on the Real Estate as may be designated by Landlord as common areas not within the Building (collectively, "Common Areas ") for pedestrian and vehicular access and /or parking and /or related purposes. Landlord does, however, reserve the right to change and /or alter the layout of the Common Areas, methods of ingress and egress, direction of traffic, signage, curbing, landscaping and parking, so long as the same do not materially and adversely affect the use of the Building. In addition, Tenant agrees that the Landlord may promulgate reasonable, non - discretionary rules and regulations for the use of the Common Areas including designating certain outdoor sidewalk or seating areas, parking areas, driveways, and locations for any signage for the exclusive use of Tenant and/or other future tenants in the Building. 3. Tenn. The term of this Master Lease (the "Term ") shall commence on the first business day following receipt by the Landlord of the Certificate of Occupancy (the "Commencement Date ") and shall continue until the earlier of (a) the date that is sixty (60) MASTER LEASE