Public Parking Facility License New - 220 W Colfax Ave. Smart Park Inc.

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PARKING LOT- MANAGEMENT- AGREEMENT THIS PARKING LOT REVENUE COLLECTION AGREEMENT ("Agreement") is made and entered into as of this 27th (day) of April (month), 2023 (year), by and between CPO LLC (Landlord), having an MAILING address for RENT CHECKS to be mailed at: 126 Chestnut Hills Pkwav, Fort Wa ne IN 46814 ("Landlord"), and SMART PARKING INC. (Operator), a OHIO corporation having an address of 3280 W. 1281 ST UNIT 2 CLEVELAND OH 44111 (Tentant) FOR the Parking Lot address known as: Property Address: 220 W Colfax Ave South Bend IN 4660I SURFACE PARKING ON[.11 Agreement Term. The term of this Agreement shall commence on _4/27/2023 (use this date if current operator needs time to vacate we will start day after their last NOTICE date) and continue on month -to -month until either party cancels with 30 day advance written notice for whatsoever reason. 2. Commitments: Smart Parking Inc. commits to pay the annual commercial parking lot license fee during the term of the agreement to city. SMART Parking will only manage the parking for after hours of COLFAX PLACE business hours. All tenants and visitors shall have access to the parking lot at free of charge. Smart Parking shall provide hours of charging timings as indicated here _(Weekends and Week Days from5:30PM to 6:OOAM . ANY signs needed landlord permission is needed before installing. Smart Parking shall provide landlord parking passes (free) for the Colfax place tenants or visits as needed. 3. Rent. Operator will pay Landlord 70% OF GROSS REVENUE EARNED during the term at the end of each month along with monthly gross receipt within 10 day grace period at the end of each month. THIS IS EQUIVALENT TO: if GROSS revenue earned is $5,000 for ANY given month then RENT for landlord shall be $3,500 for that month & rent shall be paid at the end of the month with 10 grace period days before becoming late. SMART PARK INC WILL COVER ALL OPERATING COSTS & PAY ON TIME. (a) MONTHLY RENT SHALL BE PAID AT THE END OF EACH MONTH WITH 10 DAYS GRACE PERIOD. ANY RENT PAID AFTER THE LOTH SHALL BE CONSIDERED LATE AND CHARGED WITH 10% OF LATE FEE. (b) Any Parking Rents payable by Tenant to Lessee under this Agreement which are not paid within ten (10) days after the 1" of each month will be subject to a late charge equal to ten (10%) percent of the amount past due.