5A9 Second Amendment to Development Agreement (The Monreaux) - TABLED

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SECOND AMENDMENT TO DEVELOPMENT AGREEMENT This SECOND AMENDMENT TO DEVELOPMENT AGREEMENT (this “Second Amendment”) is made and entered into to be effective as of August 14, 2025, by and between the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (“Commission”), and The Monreaux LLC, an Indiana limited liability company with offices at 1335 Pyle Avenue, South Bend, Indiana 46615, and Delta Ventures Ltd. (collectively, the “Developer”). RECITALS A.The Commission and the Developer entered into that certain Development Agreement dated effective November 20, 2023, as amended by a First Amendment to Development Agreement dated May 22, 2025 (collectively the “Development Agreement” or as may be referred to as simply the “Agreement”), for development of certain real property located in St. Joseph County, City of South Bend, State of Indiana, as more particularly described in Exhibit A of the Development Agreement. All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Development Agreement. B.Certain circumstances have changed since the execution of the First Amendment to Development Agreement, and the Commission and the Developer now collectively desire to further amend the Development Agreement to increase the Funding Amount to support architectural improvements to the Project. C.The Developer has revised designs for the Project and is prepared to move forward to fulfill the commitments of the Development Agreement and other agreements with the Commission related to this Project. D.The Commission believes that the architectural changes to which the Developer is committed and to which the increase in the Funding Amount would be used for are in the best interests of the health, safety, and welfare of the City and its residents. E.The Commission and the Developer now desire to amend the Development Agreement as set forth herein. AGREEMENT NOW, THEREFORE, in consideration of these premises, and the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Developer and the Commission hereby agree as follows: 1.Recitals. The recitals set forth above, including each and every recital contained therein, are incorporated into and made a part of this Second Amendment as though fully set forth herein. 2.Amendments. The Development Agreement is hereby amended as follows: a)Section 1.2 shall be deleted in its entirety and replaced with the following: