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HomeMy WebLinkAbout5B6 First Amendment to Lease Agreement (SB Bike Garage) - SignedSouth Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 12/12/2024 FROM: Erin Michaels – Property Development Manager SUBJECT: First Amendment to South Bend Bike Garage Lease Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. * Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the authorization of the expenditure of such funds shall be void and of no effect. PURPOSE OF REQUEST: First Amendment to Lease with South Bend Bike Garage at the Main Wayne Parking Garage SPECIFICS: On October 24, 2024, the RDC approved a Lease with the South Bend Bike Garage to rent a portion of the ground floor of the Main Wayne Parking Garage located at 119 W Wayne St which included access to the basement for storage. Staff now believe that it would be beneficial for the South Bend Bike Garage to have access to the full ground floor retail space and due to the added space basement access is no longer needed. There are no other substantive changes proposed in this amendment. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 12-12-2024  FIRST AMENDMENT TO LEASE AGREEMENT This First Amendment to Lease Agreement (“First Amendment”) is made effective as of December 12, 2024 (the “Effective Date”) by the City of South Bend, Indiana, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (the “Landlord”) and South Bend Bike Garage Inc, an Indiana Nonprofit Corporation (“Tenant” and collectively with the Landlord, the “Parties”). Each of the Parties may be referred to in this Amendment as a “Party.” Recitals A.The Parties entered into a Lease Agreement dated October 24, 2024 (the “Lease”), in which they agreed the Tenant would lease from the Landlord certain portions of the real property commonly known as 119 W. Wayne Street., South Bend, Indiana 46601, parcel number 71-08-12-157-002.000-026 (the “Property”). B.Tenant has requested to modify the rented portion of the premises of the Lease, and Landlord believes a modification of the rented portion of the premises is in the best interests of the health, safety, and welfare of the City and its residents. C.The Parties therefore now desire to modify certain portions of the Lease as further set forth herein. NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and promises contained in this First Amendment and the Lease and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows: 1.Section C. of the RECITALS shall be deleted in its entirety and replaced with the following: C. Landlord and Tenant desire to enter into a lease, under which Landlord will lease to Tenant a portion of the Property comprised of approximately 5,000 square feet of commercial space located on the first (main) floor of the building and excluding all portions of the lower (basement) level of the building. 2.The phrase “1,680 square feet of commercial space located on the ground floor and including the lower level” shall be deleted from Section 1.1.(a)and replaced with the phrase “5,000 square feet of commercial space located on the ground floor (excluding the basement)”. 3.Exhibit B shall be deleted in its entirety and replaced with the Exhibit B attached to this First Amendment. 4.Unless expressly modified by this First Amendment, the terms and provisions of the Lease remain in full force and effect. 5.Capitalized terms used in this First Amendment will have the meanings set forth in the Lease unless otherwise stated herein. 6.The recitals set forth above are hereby incorporated into the operative provisions of this First Amendment. 7.This First Amendment will be governed and construed in accordance with the laws of the State of Indiana. 8.This First Amendment may be executed in separate counterparts, each of which when so executed shall be an original, but all of which together shall constitute one and the same instrument. Any electronically transmitted version of a manually executed original shall be deemed a manually executed original. Signature Page Follows IN WITNESS WHEREOF, the undersigned have executed this First Amendment as of the date set forth after their signatures. “LANDLORD” SOUTH BEND REDEVELOPMENT COMMISSION By: David Relos, Vice President ATTEST: Vivian G. Sallie, Secretary Date: _____________ SOUTH BEND BIKE GARAGE an Indiana Nonprofit Corporation By:Steven Burnside Its: President Date:12/05/2024 EXHIBIT B 12-12-2024 Description of Premises Approximately 5,000 square feet of commercial space on the ground (1st) floor, all of which is within the Building commonly referred to as 119 W Wayne Street.