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Department of
u
Community Investment
1865
Memorandum
June 13, 2013
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources � '
SUBJECT: Gates Automotive Corp. Early Termination of Lease Agreement
410 W. Wayne
As part of the January 2012 final acquisition of the downtown Gates Campus properties,
the Commission assumed two leases.
The first lease is for the Gates Service Center located at 410 W. Wayne, with the
second lease being for the Gates Used Car Lot at 205 W. Western.
Both leases were for an initial five year term, expiring July 31, 2013. Both leases grant
the Lessee an option for three, two year renewals.
On March 28th of this year, Gates gave notice of their intent to renew both leases.
Also part of these leases is a clause that grants the Lessee early termination upon 90
days written notice. On May 20th, written notice was received of the early termination of
the Gates Service Center lease, which will terminate on August 31, 2013.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV
1291HID
AUTOMOTIVE
GROUP
May 20, 2013
David Relos
Department of Community Investment
227 W. Jefferson Blvd., Suite 14005.
South Bend, IN 46601
Dear Mr. Relos
RECEIVED MAY 22 Y013
This letter is to inform you of our intention to exercise the Early Termination option contained in the
lease for 410 West Wayne Street, South Bend, IN 46634. We are giving the required 90 day notification
so that the lease will terminate on August 31, 2013.
It's my understanding from your conversation with Bill Murray that the possibility exists that another
Tennant may be interested in the facility along with our equipment. Please contact me if anyone shows
interest in purchasing the equipment at this location.
We are looking forward to continuing our lease at the used car facility. Thanks for your help and please
feel free to contact me with any questions at 574- 256 -3000 or by e-mail at
mhelmkama @aateschevvmish.com.
Regards,
i p, ,/j?p
Matt `H�e l/m kka-m p
Owner
Cates Toyota I Scion • 640 W Ireland Rd. • P.O. Box 4056 • South Bend, IN 46634
Phone (574) 237 -4999 • Toll Free (800) 289 -6969 • w gatesautomotive.com