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East Race Fire Arts <br />August 31, 2004 <br />Page 2 <br />4. By this Letter Agreement by and between the Commission and FA, the Commission <br />hereby agrees to permit FA the temporary use of the Premises for the purposes stated herein. <br />5. The parties understand and agree that this Agreement is not a lease between the <br />Commission and FA for use of property located at 305 West Colfax and that this Agreement is <br />entered into solely for the purpose of permitting FA the temporary use of the Premises until such <br />time as the Commission desires to proceed with demolition and/or redevelopment of the Premises. <br />6. FA understands that it shall not be guaranteed any particular term ofmonths or years <br />related to its use of the Premises and hereby acknowledges that its use of the Premises is temporary <br />and that it may be terminated by the Commission at any time by the Commission giving one hundred <br />eighty (180) days written notification. <br />7. FA hereby agrees to assume Liability for any and all acts and omissions related to <br />FA's temporary use of the Premises which may result in a claim against the City of South Bend or <br />the South Bend Redevelopment Commission and FA further agrees to indemnify and hold harmless <br />the City and the Commission for same. FA also agrees to execute and deliver a separate <br />indemnification agreement in a form acceptable to Commission. <br />8. FA hereby agrees to submit proof of insurance to the Commission naming the <br />Commission as a co-insured. FA further agrees to notify Commission within five (5) days of any <br />change in insurance coverage or lapse in coverage. FA understands that its use of the Premises is <br />conditioned upon maintaining at ail times insurance coverage consistent with this provision. <br />9. Whenever under this Agreement a provision is made for notice of any kind, such <br />notice shall be in writing and signed by or on behalf of the party giving or making the same, and it <br />shall be deemed sufficient notice and service thereof if such notice is sent by certified mail, return <br />receipt requested, postage prepaid to: <br />Fire Arts, Inc. <br />305 West Colfax Street <br />South Bend, Indiana 46601 <br />or to the Commission: <br />South Bend Redevelopment Commission <br />1200 County-City Building <br />South Bend, Indiana 46601 <br />