Laserfiche WebLink
EXHIBIT E <br />COMMERCIAL LEASE <br />This Lease is entered into between the SOUTH BEND REDEVELOPMENT COMMISSION <br />("Landlord") and TxE 1100 CORPORATION, an Indiana corporation ("Tenant"). <br />Recitals: <br />A. Tenant owns the land and all buildings and improvements thereon located at 1100 <br />Prairie Avenue, South Bend, Indiana 46601 (the "Property") <br />B. Tenant leases the Property to Underground Pipe & Valve Incorporated, an Indiana <br />corporation ("UPV") <br />C. Pursuant to the terms of that certain Real Estate Purchase and Site Work Agreement <br />dated , 2009 by and among Landlord, Tenant, and the City of South Bend (the <br />"Purchase Agreement"), Landlord agreed to purchase the Property from Tenant. <br />D. The Purchase Agreement provides that Landlord shall lease the Property back to <br />Tenant in accordance with the terms of this Lease until such time as UPV is able to relocate its <br />business to a new building located on a site to be provided by Landlord in the Oliver- Industrial <br />Park (the "Oliver Park Building"). <br />NOW, THEREFORE, in consideration of the foregoing recitals, which are hereby <br />incorporated by reference into this Lease, the parties agree as follows: <br />1. Agreement to Lease. Subject to all the provisions of this Lease, Landlord leases <br />to "Tenant and Tenant leases from Landlord the Property. <br />2. Term. This Lease shall begin on the date of the closing of the Landlord's <br />purchase of the Property ("Lease Commencement Date") and end on the date that is thirty days <br />after the completion of construction of the Oliver Park Building ("Lease Termination Date") <br />3. Use. Tenant shall continue to lease the Property to UPV pursuant to the teens oI~ <br />the lease between Tenant and UPV as such maybe amended from time to time. <br />4. Rent. As rent for use of the Property, Tenant agrees to pay Or7e Dollar ($ l .OU). <br />The rent shall be due on the Lease Commencement Date. <br />