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<br />any liability for injury on or about the property which m'ay be suffered by any employee, tenant <br />or guest upon the property. Owner agrees to maintain sufficient and prudent all risks property <br />insurance and that the Manager shall be an 'additionally named insured. Owner shall provide a . <br />copy of such insurance policy to the'Manager for the Manager's records. <br /> <br />Compensll tion of Manager. Owner agrees to compensate Manager on a monthly basis as <br />follows. $600.00 per month. When 6. Tenant is found for the front office space, there will be no <br />Leasing fee paid, however, at Lease Commencement, the ongoing management fee'of$600.00 <br />shall become 5% of the Net yearly rent in addition to the base fee of$600.00 per month. Owner <br />agrees to pay the Expenses of the building for the ongoing maintenance or repair issu~s that may <br />arise during the tenn of this Agreement. ' <br /> <br />,Term of Agreement. This Agreement shall be effective as of the .llt day of December, 20,22 <br />and shall expire on the lli! day of December, 20 07. Upon expiration of the above in,itial tenn, <br />this Agreement shall automatically be renewed and extended for a like period of time unless <br />tenninated in writing by either party by providing written notice 90 davs prior to the date for <br />such renewal. This Agreement may also be tenninated by providing written notice 60 days <br />notice by either ~arty at any time. 'Upon termination Owner shall pay to Manager any fees, <br />commissions and expenses due Manager under terms of this Agreement, which are owing to <br />Manager.' <br /> <br />Successors llnd Assigns. This Agreement shall be binding upon and inure to the benefit of the <br />successors and assigns of Manager and the heirs} administrators, successors, and assigns of the <br />Owner. Notwithstanding the preceding sentence, Manager shall not assign its interest under this <br />Agreement except in connection with the sale of all or substantially all of the assets of its <br />business. In the event of such sale, Manger shall be released from all liability under this <br />Agreement upon the express assumption of such liability by its assignee. <br /> <br />. <br /> <br />This document represents the entire Agreement between the parties hereto. <br />IN WITNESS WHEREOF, the parties hereto hereby execute this Agr,eement on the date first <br />above written. <br /> <br />City of Ramsey <br /> <br />Premier Commercial Properties, I11c. <br /> <br />. <br /> <br />-533- <br /> <br />-21- <br />