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<br />Lease Agreement <br /> <br />TillS AGREEMENT (this "Lease") is made as of March 28, 2008 ("Effective Date"), <br />between BURY & CARLSON, INC., a Minnesota corporation ("Tenant"), and the CITY OF <br />RAMSEY, a Minnesota municipal corporation ("Landlord"). <br /> <br />In consideration of the mutual covenants hereinafter set forth, and intending to be legally <br />bound, the parties do hereby agree as follows: <br /> <br />1. LEASED PREMISES <br /> <br />1.1 Legal Description. The Leased Premises is located in Anoka County the legal <br />description of which is: <br /> <br />Lot 1, Block 1, BURY & CARLSON ADDITION, except road and subject to <br />easements of record, together with all easements and rights benefiting or <br />appurtenant to the land; and together with the right to use Outlot B, Gateway <br />North Industrial Park for access and roadway uses and purposes; <br /> <br />(collectively, the "Leased Premises"). <br /> <br />1.2 Condition of Premises. Parties agree that the Leased Premises are presently in <br />good repair and condition. The Landlord has made no representations, either express or implied <br />regarding the quality and condition of the Leased Premises. <br /> <br />1.3 Tenant's Inspection. Tenant acknowledges that, upon occupancy hereof, it will <br />cause the Leased Premises to be inspected in order to ascertain the condition thereof, that any <br />objections thereto not delivered in writing to Landlord within 20 days after occupancy, shall be <br />deemed waived. <br /> <br />1.4 Use of Premises. Tenant shall use and occupy the Leased Premises solely for <br />construction material storage and other lawful industrial/commercial uses only. No other use is <br />authorized without the prior written consent of Landlord. <br /> <br />l.4(a) No Unlawful Uses. Tenant will not use, occupy or knowingly pennit the Leased <br />Premises or any part thereof to be used or occupied for any unlawful or illegal business, use or <br />purpose, nor for any business, use or purpose deemed by Landlord to be disreputable or <br />extra-hazardous, nor in such manner as to constitute a nuisance of any kind, nor for any purpose <br />or in any way in violation of any present or future laws, rules, requirements, orders, directions, <br />ordinances or regulations of the United States of America, or of the State, county or city <br />government, or lawful authority whatsoever, and shall indemnify and hold Landlord harmless <br />from the consequences of any such violation. If Tenant receives any written notice of any such <br />violation, applicable to the Leased Premises, it shall give prompt notice thereof to Landlord. <br />Notwithstanding any other terms or provisions herein to the contrary, all uses of the Leased <br />Premises by Tenant and its subtenants prior to the Effective Date shall continue to be permitted <br />after the Effective Date. <br /> <br />I <br />