HomeMy WebLinkAbout5B1 First Amendment to License Agreement for Temporary Parking (Hibberd)1
FIRST AMENDMENT TO LICENSE AGREEMENT FOR TEMPORARY PARKING
This First Amendment to License Agreement Temporary Parking (this “First
Amendment”) is dated October 24, 2019 (the “Effective Date”), by and between the South Bend,
Redevelopment Commission, governing body of the City of South Bend Department of
Redevelopment (the “Commission”), and Hibberd Development, LLC (the “Company”) (each a
“Party” and collectively the “Parties”).
RECITALS
A. The Commission and the Company entered into a License Agreement for
Temporary Parking dated February 22, 2018 (the “Agreement”) with regard to the Property; and
B. The Company desired to repair, sealcoat, and re-stripe the Property and the
Commission agreed to allow the Company to offset the cost of such repair, sealcoat, and re-stripe
of the Property against the License Fee.
C. The Parties now wish to amend the Agreement to memorialize the terms of the
offset.
NOW, THEREFORE, in consideration of the mutual promises and obligations in this First
Amendment and the Agreement, the adequacy of which consideration is hereby acknowledged,
the Parties agree as follows:
1. Section 4 of the Agreement shall be deleted in its entirety and replaced with the following:
License Fee. In consideration for the license granted in this Agreement, the Company will
pay a monthly license fee of Three Hundred Sixty Dollars ($360.00), calculated as Twenty
Dollars ($20.00) per parking space per month (the "License Fee"). The License Fee shall
be due on the first business day of each month during the Term of the Agreement (the "Due
Date"). Notwithstanding the foregoing, the Parties agree that the Company has maintained
the Property beyond the requirements of Section 5, below, by repairing the asphalt and re-
sealing and re-striping the Property. In exchange for the Company's repairs to the Property,
the Commission agrees to abate fully the Company's payment of the License Fee
commencing on November 1, 2019 through December 31, 2021, and in the amount of Two
Hundred Ten Dollars ($210.00) for the payment due on January 1, 2022. Thereafter, the
full amount of the License Fee will be due and payable on the Due Date.
2. Unless expressly modified by this First Amendment, the terms and provisions of the
Agreement remain in full force and effect.
3. Capitalized terms used in this First Amendment will have the meanings set forth in the
Agreement unless otherwise stated herein.
Signature Page Follows
2
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to
License Agreement for Temporary Parking to be effective as of the Effective Date stated above.
HIBBERD DEVELOPMENT LLC
_________________________
Mark W. Neal, Manager
SOUTH BEND REDEVELOPMENT COMMISSION
__________________________________
Marcia I. Jones, President
ATTEST:
______________________________
Quentin Phillips, Secretary