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5B2 First Amendment to Lease Agreement (East Bank Learning Center) - Signed
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5B2 First Amendment to Lease Agreement (East Bank Learning Center) - Signed
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9/11/2025 1:09:26 PM
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9/11/2025 1:09:06 PM
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Dept of Community Investment
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Page 2 of 7 <br />lease from Lessor, a portion of the real estate located at 403. E. <br />Madison Street, South Bend, Indiana. The legal description of such <br />real estate is Lot 4A East Bank Replat 12/13 NP#4334 06-2811. The <br />portion thereof being leased by Lessee (hereinafter referred to as the <br />“Premises”) is shown on the attached Exhibit 2 and commonly known <br />as 425 E. Madison Street, , South Bend, Indiana. The square footage <br />of the Premises is stipulated by the parties to be approximately 6,075 <br />square feet. <br />ii.Paragraph 2, titled “Term” is hereby deleted in its entirety and replaced <br />with the following: <br />“2. Term. This Commercial Lease shall commence as of the Effective <br />Date and shall continue through September 30, 2028 (the “Term”). Either <br />Party may terminate this Commercial Lease at any time by providing to the <br />other party written notice delivered no later than eighteen (18) months prior <br />to the termination date.” <br />iii. <br />Paragraph 6, titled “Maintenance and Repairs” is hereby deleted in its <br />entirety and replaced with the following: “6. Maintenance and Repairs. <br />Lessor agrees to maintain the following in good working order and repair at <br />Lessor’s sole cost and expense for the duration of the lease Term: all interior <br />and exterior maintenance and/or repairs including, but not limited to, the <br />maintenance and/or repairs of all doors, windows, roofs, gutters and <br />downspouts, HVAC, mechanicals, electrical, plumbing and plumbing <br />fixtures, and foundation at the Premises herein being leased by Lessee. <br />Lessor shall have the right at reasonable times, and with at least twenty-four <br />(24) hours written notice, to enter the Premises to inspect the same, and <br />make repairs, alterations, or modifications as deemed appropriate by Lessor, <br />and as approved by Lessee. Lessee shall be responsible for all routine <br />cleaning and janitorial service of the interior of the Premises. Lessee shall <br />be responsible for all repairs and/or maintenance required as a result of the <br />negligence, misconduct, or other actions of Lessee, its agents, employees, <br />and invitees, including damages or expenses arising as to the Premises due <br />to violations of the use restrictions set forth above.” <br />iv.Paragraph 4, titled “Rental” is hereby deleted in its entirety and replaced <br />with the following provision: <br />“4. Rental. Lessee shall pay to Lessor, as rental for the leased Premises through <br />the end of the Term, the sum of $8,748.00 per month, payable on the first day of <br />each month of the Term. The monthly rental shall increase by 2.5% per year, <br />including Amendments and the Renewal Terms. All such payments shall be made <br />to the address of Lessor set forth in paragraph 23 below, or as otherwise directed <br />by Lessor to Lessee in writing.”
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