6.B.(8) Specifications Master Lease Retail Properties

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~~ /~ ~> ~ SPECIFICATIONS FOR THE MASTER LEASE OF REDE~'ELOPMEN~I~ RETAIL PROPERTIES Scaled Bids shall be submitted uo later than 9:00 a.m. December 5, 2008, in the Ofticc of the Department of Economic and Communit~~ Dc~~elopmeut, 1200 County- Cit~° building, 227 ~''. Jefferson Bh~d., South Beud, Indiana 46601, for the Master Lcasc of Rede~~elopment Retail Properties for the South Bend Redevelopment Commission. DESCRIPTION OF PROPERTY. The Rcdc~~clopmait Retail Properties are all located in South Bend. Indiana. and described as follows: • 1 17 East Wayne Street ~N'aync Street Garage Retail • 118-131 South Michigan Street -Leighton Playa Garage Retail • 1 30 South :Main Street -Leighton Plaza C ourtyard TERM OF 1~1ASTER LEASE. The term of the Master Lcasc shall be for a period of three (3) years commencing on February 1. 2009. and terminating on January 31. 20 L' (thc'~ hcrm~~). MASTER LEASE RENTAL RATE. I?ach bidder shall specify the amount of Master Lcasc Rental Rate per month. "I he Rede~~elopment Retail Properties comprise 12.535 square icet of rental area. As specified herein. the proposed Master Lease Rental Ratc shall be based upon the Bidder leasing the entire 12.845 square feet. SCOPE OF MASTER LEASE. Each bidder is specifically instructed to become completely familiar ~~~ith the Rede~clopmcnt Retail Properties prior to submitting a bid. The Bidda~ will become the Lcasc Holder oC the Rede~~clopment Retail Properties. The Bidder ackno~~~ledges that the Commission bus no responsibility or obligations to the Bidder ~~~ith respect to the Rede~~clopment Retail Propcrtics. including, but not limited to. their condition. The Bidder accepts the Redc~~dopmcnt Retail Propcrtics in the condition ~n~hich exists as of the date of the execution of the Master Lcasc subject to all applicable zoning, municipal, county and state ltm°s. ordinances and re~~ulations ~~o~~erning and regulating the use of the Rcdc~ elopment Retail Propu-tics. I . Dunn<~ the Term, the Bidder shall sub-Case the Rede~~clopment Retail Propcrtics as office and-or retail space or any other legal purposes, consistent ~~~ith the City of South Bend Rede~ elopment Retail Tenant Selection Policy as follows: REDEVELOPMENT RETAIL PROPERTIES -TENANT SELECTION POLICI' MISSION It is the mission of the Cite of Sou[h Bend Rede~~clopment Commission to utilize Rcde~~clopmcnt Retail space in a capacity to attract and generate a