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EQUIPMENT LEASE AGREEMENT THIS EQUIPMENT LEASE AGREEMENT (this "Lease") is made as of the 17th day of July, 2014, by and between the SOUTH BEND REDEVELOPMENT COMMISSION ("Lessor"), organized and existing under Indiana Code 36-7-14, and NELLO, INC., an Indiana corporation("Lessee"). RECITALS A. Lessor, the governing body of the City of South Bend, Indiana, Redevelopment District and the City of South Bend, Indiana, Department of Redevelopment, exists and operates under the provisions of Indiana Code Section 36-7-14, as amended from time to time(the "Act"). B. Lessor desires to foster redevelopment and economic development within the City of South Bend, Indiana(the "City"). C. Lessee operates in the steel fabrication industry by designing, engineering and fabricating steel structures for the telecommunication, utility and wind energy markets and presently has facilities located in Fort Worth, Texas; Bremen, Indiana and corporate offices located in the City. D. Lessee desires to construct and equip a manufacturing facility located in the City of a type and size necessary to consolidate the Lessee's present manufacturing operations and to increase the Lessee's manufacturing resources (the"Project"). E. Lessee also desires to increase the size of its corporate offices located in the City within ten (10) years of the date of that certain Economic Development Memorandum of Understanding dated the 20th day of June, 2014, by and between Lessor and Lessee (the "MOU") either through expansion of its existing corporate offices or through the construction or acquisition of new corporate offices located in the City F. The Lessee expects to complete the Project in two (2) phases with the first phase consisting of a manufacturing facility housed in one or more buildings that is expected to result in a building investment of approximately $14,500,000(the "Phase I Building Improvements"). G. The Lessee also plans to expand the Phase I Building Improvements within ten (10) years from the date of the MOU by erecting an additional building or buildings on the Real Estate or by making an addition to Phase I Building Improvements (the "Phase II Building Improvements") resulting in a building or buildings located on the real estate having a total building investment of approximately $30,000,000 (such amount exclusive of personal property investment made by the Lessee. H. In order to more fully develop and complete the Project, Lessee requires the Equipment (as defined below)for use at the Facilities. I. Lessor owns the Equipment (as defined below) described as Year 1 Equipment on the attached hereto Schedule A. The Lessor shall purchase the Year 2 Equipment and Year 3 US.54312722.03