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

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k)In Section 6.1, the last sentence shall be deleted in its entirety and replaced with the following text: “In the event that the Developer fails (a) to complete the Project by the Mandatory Project Completion Date, or (b) to expend the full amount of the Private Investment by the Mandatory Project Completion Date, Developer will be considered in default, and the Developer will be required to repay (i) all Funding Amounts received in accordance with the terms of the Loan Agreement; and (ii) One Hundred Fifty Percent (150%) of the portion of the Funding Amount expended by the Commission for costs associated with the the Local Public Improvements procured by the Board of Works to purchase exterior siding materials for certain architectural improvements to the Project, as of the date of the Commission’s demand, as agreed upon monetary damages sustained by the Commission, the City, and citizens of South Bend for the Commission’s direct investment into the Project, the negative impact upon the Commission’s ability to develop other projects in South Bend, and expenses of City employees supporting the Project, including, redevelopment staff, engineering staff, and legal department staff.” l)In EXHIBT C, Description of Local Public Improvements, the first sentence shall be deleted in its entirety and replaced with the following: Local Public Improvements will include site work, purchase of exterior siding materials for certain architectural improvements to the Project, and other improvements in support of the construction of the Project as agreed upon between the Parties, in accordance with all applicable laws and regulations. 3.Entire Agreement; Conflict. Except as otherwise stated herein, all other terms, conditions and agreements contained in the Development Agreement remain unmodified and in full force and effect. To the extent a conflict exists between the terms of this Second Amendment and the Development Agreement, the terms of this Second Amendment shall control. Capitalized terms used in this Second Amendment will have the meanings set forth in the Development Agreement unless otherwise stated herein. 4.Counterparts; Electronic or Facsimile Transmission. This Second Amendment may be executed in counterparts which, when combined, shall constitute one instrument. The electronic or facsimile transmission of a signed counterpart of this Second Amendment shall be binding upon the party whose signature is contained on the transmitted copy. Signature Page Follows