HomeMy WebLinkAboutZion Church Parking lot Shared Use Lease Agreement .REVISED.9.11.18(JAM) page 1Rev 09_09_2018 1
ZION UNITED CHURCH OF CHRIST, AND CITY OF SOUTH BEND, INDIANA PARKING LOT IMPROVEMENT AND SHARED USE LEASE AGREEMENT
This Parking Lot Improvement and Shared Use Lease Agreement (the “Agreement”) is made effective as of September 10, 2018 (“Effective Date”) by and between Zion United Church of Christ (“Zion Church”), 715 E. Wayne Street, South Bend, Indiana 46617-3019 (the “Lessor”) and the City of South Bend Indiana, acting by and through its Board of Park
Commissioners (the “ “Lessee”) (Each a “Party” and together the “Parties”), for the lease, shared use and improvement of the parking lot area of Lessor (hereinafter, the “Parking Premises”). 1. TERM, TERMINATION AND RENEWAL. The term of this Agreement shall
commence as of the Effective Date and continue for an initial lease term of ten (10) years. The Agreement shall automatically renew for three (3) successive five (5) year lease terms, for a total maximum term of twenty-five (25) years. Except for material breach, neither Party may terminate this Agreement during the initial term. Upon the expiration of the Initial Term or during any Renewal Term, either Party may terminate this
Agreement by providing thirty (30) days prior written notice to the other Party. 2. OWNERSHIP AND FIRST OPTION TO PURCHASE. Lessor owns or has perpetual easement rights to the Parking Premises located at Zion Church, more particularly described as:
Lot 249: 34 Ft N Side Lot 249 W ½ Vac alley E & Adj Cottrells 1st Add To Lowell Vac Ord#10227-13 7/15/2013 [Parcel Key Number 018- 6002-001801]
Lot 249:
32 Ft S Side Lot 249 W1/2 Vac alley E & Adj Cottrells 1st Add Vac Ord #10227- 13 07-15-13. [Parcel Key Number 018-6002-018] Lots 250 and 251:
250 W1/2 Vac alley E & Adj Cottrells 1st Add 14/15 Vac Ord #10227-13 07-15-2013
[Parcel Key Number 018-6002-0019] and 251 W1/2 Vac alley E & Adj Cottrells 1st Add Vac Ord #10227-13 07-15-2013. [Parcel Key Number 018-6002-0020] The full and complete legal descriptions of the Premises are attached herein as Exhibit
“A”.
In the event Lessor elects or is forced to sell said Premises during the Initial Term or any Renewal Term of this Agreement, Lessor grants Lessee an exclusive first option to