Agenda - Council - 02/23/2010 - Laserfiche WebLink

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LEASE AGREEMENT This Lease Agreement, dated this day of , 2010, (this "Lease ") is made by and between the CITY OF RAMSEY, Anoka County, Minnesota, a Minnesota municipal corporation ( "LANDLORD ") and the COUNTY OF ANOKA., a political subdivision of the State Minnesota ( "TENANT "). DEFINITION: "Leased Space ". Approximately 2200 square feet of office space including two (2) closed offices and one storage room on the ground floor of the Ramsey Municipal Center located at 7550 Sunwood Drive NW, Ramsey Minnesota, 55303 (the "Office Space "). The Leased Space includes approximately 466 square feet of shared common areas (restrooms, lunch room, etc,) (the "Shared Space "). The Office Space and the Shared Space total 2,666 square feet and are collectively referred to hereinafter as the "Leased Space ". The Leased Space also includes the right to use the Parking Facilities as described below.. The Leased Space is depicted on the attached Exhibit A. WITNESSETH THAT: 1. TERM: a. Initial Term. For and in consideration of the rents, additional rents, terms, provisions and covenants herein contained, LANDLORD hereby lets, leases and demises to TENANT the Leased Space for the term of five years commencing on the 1 st day of July, 2010 (sometimes called "the Commencement Date ") and expiring on the 30th day of June, 2015 (sometimes called "Expiration Date ") unless sooner terminated as hereinafter provided. The term from July 1, 2010 through June 30, 2015 is hereinafter referred to as the "Initial Term ". TENANT'S obligation to pay rent shall begin on the Commencement Date. b. Option to Renew. Provided TENANT is not in default hereunder and has performed all of its covenants and obligations, TENANT may extend the Term of this Lease (hereinafter, the "Option Term ") for three (3) five (5) year Terms with the first Option Term beginning on the first day after the "Expiration Date" upon the terms and conditions set forth below. TENANT may exercise the Option Term only by giving written notice to LANDLORD not later than April 1, 2015, and on April 12020 and April 1, 2025, respectively. C. Early Lease Termination. TENANT shall have the right to terminate this Lease Agreement without penalty upon 365 days written notice to LANDLORD upon the happening of any of the following events (1) the TENANT loses more than 50% of its revenue volume as measured by the immediately preceding calendar year (2) the State of Minnesota discontinues the practice of appointing license bureaus, as they now exist or other means of obtaining licenses, license plates, vehicle transfers, and /or paying license fees makes operating a license bureau uneconomical Notwithstanding an early termination TENANT shall reimburse LANDLORD for its build -out allowance given TENANT pursuant to paragraph 8.b. below upon the following schedule: if termination is within one -year of Commencement Date, repayment of build -out costs by TENANT is 100 %; from one year to two years — 80 %; from two to three years — 60 %; from three to four years — 40 %; and from four years to five year — 20 %. After the fifth