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(�e 8 (0() FIRST AMENDMENT TO PARKING LEASE This First Amendment to Parking Lease ( "First Amendment ") is entered into as of this day of , 2011 by and between the CITY OF SOUTH BEND, INDIANA, DEPARTMENT OF REDEVELOPMENT, acting by and through the SOUTH BEND REDEN ELOPMENT COMMISSION ( "Landlord "), and CENTRAL HIGH ASSOCIATES, LLC, a Wisconsin limited liability company ( "Tenant "). WITNESSETH: 'WHEREAS, Landlord and Tenant entered into that certain Agreement to Lease (as amendei, the "Lease ") dated effective December 29, 1995 pertaining to the lease by Tenant of a certain :)arcel on which Landlord subsequently completed improvements (the "Lease Parcel "), such Lease Parcel providing paved parking for Tenant's multi - family housing project adjoining the Lea.,.e Parcel (the "Central High School Project Site "); and 'WHEREAS, Tenant has applied for a Department of Housing and Urban Development ( "HUD ") refinancing of the Central High School Project Site (the "Refinancing ") and in connection therewith, the lender providing the Refinancing, St. James Capital, L.L.C. ( "Lender "), has conditioned the Refinancing upon an extension of the term of the Lease, thereby making the termination date of the Lease the last day of the year that the Refinancing matures; and converting the interest of the Tenant to an easement interest; and 'WHEREAS, in order to satisfy the Lender's above- described requirement in connection with the; Refinance, Tenant has requested and Lender has agreed to extend the Lease on and subject lo the terms contained in this First Amendment; NOW, THEREFORE, in consideration of the foregoing and for other consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree that the Lease is hereby amended as follows: Capitalized Terms. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Lease. All references to "Alexander" or "The A exander Company, Inc." in the Lease shall be removed and replaced with "Housing Horizons, LLC ", the new managing member of the Tenant. Extension of Lease Term. The Lease is currently due to expire on December 28, 2015. The parties hereby agree that in consideration of the payment by Tenant of certain amortizing lease payments (as described below in Section 3), the Term of the Lease shall be extende4l to December 31, 2047. Upon the closing and funding of the Refinancing (the "Closing "), the parties hereto shall enter into a recordable Grant of Easement confirming the extended Term of the Lease and the Tenant's option to purchase rights as provided below in Section 3 hereof. The parties agree to and shall execute the Grant of Easement and deliver the same info escrow with the title company selected by Lender with instructions to record the Grant of Easement upon the Closing. Notwithstanding anything to the contrary herein, the effectiveness of this First Amendment is conditioned upon the closing and funding of the