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b� 'd (/ to <br />GRUBB & ELLIS. <br />„ Cressy & Everett <br />December 5, 2011 <br />John Mester <br />CB Richard Ellis <br />RE: Proposal to Lease space at 121 S. Michigan St., South Bend, IN <br />FINAL TERMS AND CONDITIONS <br />TENANT: St. Joe Valley Metronet <br />BUSINESS USE: Local office & customer interface location for Metronet <br />Zing. <br />PROPERTY: Michigan Street Shops, downtown South Bend <br />PREMISES: 1,423 Square Feet <br />located in the former Spark Design Studio space <br />121 S. Michigan Street <br />South Bend, IN 46601 <br />TERM: Forty Eight (48) months, commencing immediately upon <br />full Lease execution, estimated to be January 1, 2012. <br />RENEWAL OPTION(S): So long as Tenant is not in Default, Tenant shall have the <br />option to extend for two (2) terms of three (3) years. During <br />each renewal term, rent shall increase by a flat 3% over the <br />previous term. <br />BASE RENT: Rent shall be abated for the first Twelve (12) months. <br />Thereafter Tenant shall pay $8.25 Dollars per sq. ft. for <br />year one (1), $8.50 per sq. ft. for year two (2) and $8.75 per <br />sq. ft. for year three (3). <br />