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YIAIL, TO: <br />City of South Bcnd- Indiana <br />Dept. of Redevelopment <br />227 W. Jefferson Bled, Ste 1200 <br />South Bend. Indiana 46601 <br />MEMORANDUM OF LEASE <br />This Memorandum of Lease is to eeidence that on the 17th day of August. 2007. the <br />South Bend Redc~~clopment Commission. the governing body of the Department of <br />Kede~clopmcnt or the City of South Bend- Indiana, as Lessor- did enter into a Lease with <br />Kcv S.B., L.L.C, a Michigan limited liability company. as Lessee- for real estate located <br />in the Cite of South Scud, St. Joseph Counn~. Indiana, more particularly described in <br />Exhibit A, attached hereto and made a part hereof. <br />That the initial term of said Lease is I-or Twenty Fivc (25) years. commencing on October <br />3. 2008. with one optional One 11) year rcne~al term at the end of-the initial term- unless <br />sooner terminated according to the terms of said Lease. <br />1~hat the lease contains an option to purchase ~~~hich may be exercised b~~ the Lessee at <br />any time prior to the expiration of the initial tens or rene~~~al term according to the terms <br />of said Lease follo~~°ed by a remainder interest in favor of the Lessee. <br />I~;xecuted this 3rd day of October. 2008. <br />LESSI?I?. KEY 5.13., L.L.C. <br />~~` <br />Caranci. Agent <br />LESSOR SOUTH BENll RF,DEVELOPMEN'I' <br />COMMISSION, for and on behalf of the <br />a.. c, ;u~,. nerd. ndi.. - _ ,~a t'. - <br />Rede~~elopment <br />Bv: <br />Marcia I. Jones. President <br />AT1-F.S"I <br />Gregory S. Do«nes. Secretary <br />