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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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Dept of Community Investment
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Page 3 of 7 <br />v.Paragraph 10, titled “Taxes and Assessments” shall have the text “415” <br />deleted and replaced with “403” with the remainder of the Section <br />remaining unchanged. <br />vi.Paragraph 23, titled “Notices” shall have the Lessor contact information <br />replaced with the following: <br />If to Lessor: City of South Bend <br />Attn: Erin Michaels <br />227 W Jefferson Blvd, Suite 1400 S <br />South Bend, IN 46601 <br />With a copy to: South Bend Legal Department <br />Attn: Corporation Counsel <br />227 W. Jefferson Blvd., Ste. 1200S <br />South Bend, IN 46601 <br />vii.The fourth paragraph of the Addendum shall be eliminated, and a new <br />Paragraph 25 shall be inserted into the Commercial Lease, titled “Renewal,” <br />which states as follows: <br />“Renewal. At the end of the Term, Lessee may renew this lease for a period <br />of twenty-four (24) months (the “Renewal Term”), provided that Lessee <br />provides Lessor with its written intent to renew not less than eighteen (18) <br />months prior to the expiration of the Term. Such Renewal Term shall be <br />subject to the same terms and conditions as set forth herein, except for rent, <br />which shall increase on an annual basis by two and one half percent (2.5%) <br />from the rental rate during the Term starting on the date the Renewal Terms <br />begins, and by another two percent (2%) starting on the date which is the <br />one year anniversary of the commencement of the Renewal Term through <br />the end of the Renewal Term. In the event Lessor engages in discussions <br />with prospective purchasers of the Premises during the Term, Lessor agrees <br />it will use commercially reasonable efforts to involve Lessee in such <br />discussions to allow Lessee to consider any and all prospects for a longer <br />term lease following the expiration of the Term, or the Renewal Term, as <br />applicable.” <br />4.Commercial Lease Enforceability: With the exception of the amendments to the <br />Commercial Lease contemplated by this First Amendment, all other terms and provisions <br />of the Commercial Lease remain unchanged and in full force and effect, and the Parties <br />hereby expressly reaffirm their respective obligations under the Commercial Lease. To the <br />extent a conflict exists between the Commercial Lease and this First Amendment, the terms <br />of this First Amendment shall control. <br />5.Unless expressly modified by this First Amendment, the terms and provisions of the
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