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Community & Economic Development
1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: City of South Bend Redevelopment Commission
From: Debrah Jennings — CED Staff
Subject: First Church of Christ Scientist 1St Amendment to Lease
Date: August 16, 2012
First Church of Christ Scientist is Redevelopment Retail oldest tenant since 2007. First Church has
maintained an excellent rental record.
Their current lease is due to expire November 30, 2012. According to their lease, they are required
to give 180 days notice of their intent to exercise the option to extend their lease term.
The tenant would like to renew the lease with the following terms:
• Sixty (60) month lease extension period, ending November 30, 2017;
• Tenant rent set at $11.50 per sq. ft. totaling $12,144.00 per year;
• Common Area Maintenance (CAM) and property tax shall be billed at $6.25 per sq. ft,
totaling $6,600.00 per year, and then increasing $39 per sq. ft. annually.
First Church of Christ Scientist is a tenant Redevelopment Retail would like to keep. Therefore, staff
recommends approval.
Document2 What W Do Today Makes A DMnmm,
FIRST AMENDMENT TO LEASE BETWEEN
The CITY OF SOUTH BEND, INDIANA, DEPARTMENT of REDEVELOPMENT AND
FIRST CHRUCH of CHRIST SCIENTIST of SOUTH BEND
DATED AUGUST 16, 2012
THIS FIRST AMENDMENT TO LEASE is made and entered into this 16t, day of
August, 2012 by and between the City of South Bend, Indiana, Department of Redevelopment
(`Landlord ") and First Church of Christ Scientist of South Bend ( "Tenant ").
WHEREAS, Landlord and Tenant are parties to an agreement entitled "Lease" dated and
made effective September 7, 2007, (`the Lease ") related to the Premises located at 129 South
Michigan Street, South Bend, Indiana consisting of approximately 1,056 square feet as more
particularly described in Exhibit A; and
WHEREAS, the term of the Lease expires at 12:00 midnight, Eastern Standard Time on
November 30, 2012; and
WHEREAS, Landlord and Tenant desire to extend the term of the Lease and to modify
the terms of the Lease as hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual promises and obligations set forth
herein, the parties make this First Amendment to the Lease as follows:
I. The following provision is added to and modifies "SECTION 3.1. INITIAL
TERM" by inserting at the end of the first paragraph, the following:
The Parties agree that the Term of this Lease shall be and hereby is extended
for a period of Sixty (60) months to commence on December 1, 2012 and
expire at 12:00 Midnight, Eastern Standard Time, on November 30, 2017.
2. "SECTION 1.2. BASE RENT" shall remain fixed at $11.50 per square foot per
year, equivalent to $12,144.00 per year, or $1,012.00 per month.
3. "SECTION 5.2. ADDITIONAL RENT" shall be modified as follows:
The total amount of Additional Rent attributable to the Tenant's CAM
Contribution (as defined in 5.4(c)) plus the Tenant's Pro Rata Share of Tax
Expenses (as defined in Section 5.5) for a Lease Year shall not exceed the
following limitations:
6
$
6.25
$
6,600.00
$
550.00
7
$
6.64
$
7,011.84
$
584.32
8
$
7.03
$
7,423.68
$
618.64
9
$
7.42
$
7,835.52
$
652.96
10
$
7.81
$
8,247.36
$
68728
4. The Parties acknowledge and agree that except as modified herein, all terms and
conditions of the Lease remain in full force and effect.
This Amendment may be executed in counterparts, all of which shall be deemed
originals.
The undersigned persons executing and delivering this Amendment on behalf of
the Tenant represent and certify that they are the duly elected officers of Tenant
and have been fully empowered, to execute and deliver this Amendment and that
all necessary corporate action has been taken and done.
2
IN WITNESS WHEREOF, the parties have caused this First Amendment to Lease to be
executed for and on their behalf on the day and year first written above.
LANDLORD:
The CITY OF SOUTH BEND,
INDIANA, DEPARTMENT
REDEVELOPMENT
TENANT:
FIRST CHRUCH of CHRIST SCIENTIST of
of SOUTH BEND
Printed Name and Title Fr—inted Name and Title
3
ATTEST:
STATE OF INDIANA )
SS:
ST. JOSEPH COUNTY )
Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared
, known to me to be the , of the South Bend
Redevelopment Commission and acknowledged the execution of the foregoing First Amendment to Lease.
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day of
.20 .
, Notary Public
Residing in St. Joseph County, IN
My Commission Expires:
ATTEST:
STATE OF INDIANA )
SS:
ST. JOSEPH COUNTY )
Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared
of First Church of Christ Scientist of South Bend and acknowledged the execution of
the foregoing First Amendment to Lease.
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day of
.20
My Commission Expires:
4
Notary Public
Residing in IN
EXHIBIT A
Description of Premises
The Premises consists of Retail Area No.2, commonly referred to as 129 S. Michigan Street,
South Bend, Indiana, which comprises of 1,056 square feet located on the ground level of the
Leighton Center Parking Garage, commonly referred to as the Michigan Street Shops, South
Bend, Indiana and more particularly described at Exhibit A of the Lease.