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C~ ~ ~ ~~ ..: ..~anag3:.-gip at+'. . ~....... ~._ ~ ... _ Innovation Park at Notre Dame Lease Agreement This Lease Agreement ("Lease") dated as of January 29, 2010, is entered into by and between Innovation Park at Notre Dame, Inc. ("Innovation Park" or "Landlord"), an Indiana not for profit corporation, and the City of South Bend, IN, Department of Redevelopment, Acting By and Through the South Bend Redevelopment Commission ("Client" or "Tenant"), a municipal corporation, having an address of 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601. Schedule of Material Terms Premises: The space outlined on Exhibit A-1 to this Lease (the "Premises"), consisting of 3 ] 5 square feet of rentable area and commonly referred to as Suite 211 located in the building ("Building") at 1400 E. Angela Blvd., South Bend, Indiana. The Building and the parcel(s) of land on which it is located, other improvements located on such land, adjacent parcels of land that Landlord operates jointly with the Building, and other buildings and improvements located on such adjacent parcels of land are referred to herein as the "Property". Innovation Park leases the Property and the Buildin from the Universi of Notre Dame (the "Universit "). Lease Term: A period of 12 months commencing on the date upon which the Premises are substantially completed by Landlord (the "Commencement Date"). Landlord shall make a good faith effort to substantially complete the Premises by March 1, 2010 (the "Target Commencement Date"). If the last day of the Lease Term, as determined herein, does not occur on the last day of a calendar month, the Lease Term and the last Lease Year thereof shall be extended by the number of days necessary to cause the Lease Term to end on the last day of the last calendar month of the Lease Term. Tenant shall pay Base Rent and Supplemental Charges for such additional days at the same rate payable for the portion of the last calendar month immediately preceding such extension. Upon the determination of the actual Commencement Date, Landlord and Tenant shall each execute and deliver a Commencement Letter in the form of Exhibit B attached hereto. Option to Tenant has the option to renew the Lease, conditioned upon the terms set forth in Exhibit C, with Renew: respect to all (but not less than all) of the Premises for 12 months (the "Renewal Term") by notice in writing received by Landlord not less than six months and not more than nine months prior to the expiration of the then current term of the Lease, time being of the essence for the ivin of such notice. Tenant is hereb ranted three (3) o lions to renew the Lease. Buildout: Prior to the Commencement Date, Landlord shall perform those improvements to the Premises which are listed in Exhibit D attached hereto ("Landlord's Work"). Landlord shall have exclusive control and supervision over Landlord's Work and shall make all decisions and choices with regard to the plans, specifications, details and installation of Landlord's Work in Landlord's sole discretion. Landlord agrees to contribute $15,000 ("Landlord's Contribution") to be used exclusively for performing Landlord's Work. With the exception of Landlord's Contribution, the cost of Landlord's Work shall be borne exclusively by Tenant, which amount shall be paid by Tenant to Landlord on Tar et Commencement Date. Base Rent: Base Rent shall be paid according to the following schedule, subject to the provisions of Section 2 hereof. For the purposes of this Lease, "Lease Year" shall mean the twelve month period commencing on the Commencement Date, and ending on the last day of the twelfth complete calendar month thereafter, and each succeeding twelve month period thereafter which falls in whole or in part during the Lease Term (or portion thereof ending on the expiration if the Lease Term). Period nnual a Rent Monthly Base Rent Months 1 - 12 $7,560 $630.00 The Base Rent due for the first month during the Lease Term (hereinafter defined) shall be paid b Tenant to Landlord contem oraneousl with Tenant's execution hereof. Innovation Park at Notre Dame Lease Agreement Page 1