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MEMORANDUM OF UNDERSTANDING <br />PHASE II <br />This Memorandum of Understanding Phase II (the "Agreement ") effective as of April 7, <br />2012 is made and entered into by and between the City of South Bend, Indiana, a political <br />subdivision and municipal corporation of the State of Indiana, by and through its South Bend <br />Redevelopment Commission (the "Commission "), and Union Station Properties, LP, an Indiana <br />Limited Partnership ( "Union Station ") (each individually a "Party" and collectively the <br />"Parties "). <br />STATEMENT OF FACTS <br />A. On March 27, 2012, a Memorandum of Understanding was executed between the <br />Parties ( "Phase I MOU "). The Statement of Facts contained in the Phase I MOU, <br />items A -P inclusive, including but not limited to, the defined terms contained <br />therein shall become part of this Agreement as if fully set out herein. <br />B. In MOU Phase I, the Parties contemplated one (1) or two (2) other separate <br />Agreements described as Phases II and III will be necessary. This Agreement is <br />the second Agreement of the Parties involving the USTC and describes the <br />Parties' agreement relative to Phase II. <br />C. Union Station reasonably believes Phase I1 will create at least three hundred (300) <br />new jobs in the Renaissance District over time. <br />NOW THEREFORE, the Parties hereby agree the foregoing Statement of Facts are <br />accurate and incorporated into this Agreement for all purposes and further agree as follows: <br />Section 1. Commission Agreements. The Commission agrees with Union Station as <br />follows: <br />(a.) Phase II Commitments. <br />(i) Obtain a Phase I and Phase II Environmental Survey of the Ivy Tower <br />Building depicted as Item 2 -A on Exhibit 1, and enter into an Environmental <br />Agreement ("EA") regarding the Ivy Tower Building in a form substantially the <br />same as Exhibit 2. <br />1 <br />