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Innovation Park at Notre Dame Lease Agreement
This Lease Agreement ("Lease") dated as of January 29, 2010, is entered into by and between Innovation Park at
Notre Dame, Inc. ("Innovation Park" or "Landlord"), an Indiana not for profit corporation, and the City of South
Bend, IN, Department of Redevelopment, Acting By and Through the South Bend Redevelopment Commission
("Client" or "Tenant"), a municipal corporation, having an address of 1200 County-City Building, 227 West
Jefferson, South Bend, Indiana 46601.
Schedule of Material Terms
Premises: The space outlined on Exhibit A-1 to this Lease (the "Premises"), consisting of 3 ] 5 square feet
of rentable area and commonly referred to as Suite 211 located in the building ("Building") at
1400 E. Angela Blvd., South Bend, Indiana. The Building and the parcel(s) of land on which it is
located, other improvements located on such land, adjacent parcels of land that Landlord operates
jointly with the Building, and other buildings and improvements located on such adjacent parcels
of land are referred to herein as the "Property". Innovation Park leases the Property and the
Buildin from the Universi of Notre Dame (the "Universit ").
Lease Term: A period of 12 months commencing on the date upon which the Premises are substantially
completed by Landlord (the "Commencement Date"). Landlord shall make a good faith effort to
substantially complete the Premises by March 1, 2010 (the "Target Commencement Date"). If
the last day of the Lease Term, as determined herein, does not occur on the last day of a calendar
month, the Lease Term and the last Lease Year thereof shall be extended by the number of days
necessary to cause the Lease Term to end on the last day of the last calendar month of the Lease
Term. Tenant shall pay Base Rent and Supplemental Charges for such additional days at the
same rate payable for the portion of the last calendar month immediately preceding such
extension. Upon the determination of the actual Commencement Date, Landlord and Tenant
shall each execute and deliver a Commencement Letter in the form of Exhibit B attached hereto.
Option to Tenant has the option to renew the Lease, conditioned upon the terms set forth in Exhibit C, with
Renew: respect to all (but not less than all) of the Premises for 12 months (the "Renewal Term") by
notice in writing received by Landlord not less than six months and not more than nine months
prior to the expiration of the then current term of the Lease, time being of the essence for the
ivin of such notice. Tenant is hereb ranted three (3) o lions to renew the Lease.
Buildout: Prior to the Commencement Date, Landlord shall perform those improvements to the Premises
which are listed in Exhibit D attached hereto ("Landlord's Work"). Landlord shall have
exclusive control and supervision over Landlord's Work and shall make all decisions and choices
with regard to the plans, specifications, details and installation of Landlord's Work in Landlord's
sole discretion. Landlord agrees to contribute $15,000 ("Landlord's Contribution") to be used
exclusively for performing Landlord's Work. With the exception of Landlord's Contribution, the
cost of Landlord's Work shall be borne exclusively by Tenant, which amount shall be paid by
Tenant to Landlord on Tar et Commencement Date.
Base Rent: Base Rent shall be paid according to the following schedule, subject to the provisions of
Section 2 hereof. For the purposes of this Lease, "Lease Year" shall mean the twelve month
period commencing on the Commencement Date, and ending on the last day of the twelfth
complete calendar month thereafter, and each succeeding twelve month period thereafter which
falls in whole or in part during the Lease Term (or portion thereof ending on the expiration if the
Lease Term).
Period nnual a Rent Monthly Base Rent
Months 1 - 12 $7,560 $630.00
The Base Rent due for the first month during the Lease Term (hereinafter defined) shall be paid
b Tenant to Landlord contem oraneousl with Tenant's execution hereof.
Innovation Park at Notre Dame
Lease Agreement Page 1
IN WITNESS WHEREOF, the parties have duly executed this Cease Agreement as of the date first above written.
Landlord
Innovation Park at Notre Dame, Inc
Name: David H. Brenner
Title: President & CEO
Tenant
City of South Bend, Indiana,
Department of Redevelopmen;
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Name: Marcia Jones
Title: President, './
South Bend Redevelopment Commission
By:
Name: Nancy ing
Title: Secretary,
South Bend Redevelopment Commission
Innovation Park at Notre Dame
Lease Agreement
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