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Deleted: <br />LEASE AGREEMENT tevised DRAFT 2/19/10 <br />This Lease Agreement, dated this day of , 2010, (this "Lease") is made <br />by and between the CITY OF RAMSEY, Anoka County, Minnesota, a Minnesota municipal <br />corporation ("LANDLORD") and the COUNTY OF ANOKA., a political subdivision of the <br />State Minnesota ("TENANT"). <br />DEFINITION: <br />"Leased Space". Approximately 2200 square feet of office space including two (2) closed <br />offices and one storage room on the ground floor of the Ramsey Municipal Center located at <br />7550 Sunwood Drive NW, Ramsey Minnesota, 55303 (the "Office Space"). The Leased Space <br />includes approximately 466 square feet of shared common areas (restrooms, lunch room, etc,) <br />(the "Shared Space"). The Office Space and the Shared Space total 2,666 square feet and are <br />collectively referred to hereinafter as the "Leased Space". The Leased Space also included the <br />right to use the Parking Facilities as described below.. The Leased Space is depicted on the <br />attached Exhibit A. <br />WITNESSETH THAT: - Formatted: Space After: 6 pt <br />1. TERM: <br />a. Initial Term. For and in consideration of the rents, additional rents, terms, <br />provisions and covenants herein contained, LANDLORD hereby lets, leases and demises to <br />TENANT the Leased Space for the term of five years commencing on the 1st day of July, 2010 <br />(sometimes called "the Commencement Date") and expiring on the 30th day of June, 2015 <br />(sometimes called "Expiration Date") unless sooner terminated as hereinafter provided. The <br />term from July 1, 2010 through June 30, 20]5 is hereinafter referred to as the "Initial Term". <br />TENANT'S obligation to pay rent shall begin on the Commencement Date. <br />b. Option to Renew. Provided TENANT is not in default hereunder and has <br />performed all of its covenants and obligations, TENANT may extend the Term of this Lease <br />(hereinafter, the "Option Term") for one (1 rve (5) year Ter-~, with the Option Term beginning ~ Deleted: three ~~>_ <br />- __ <br />on the first day after the "Expiration Date" upon the terms and conditions set forth below. Deleted: s __ <br />TENANT may exercise the Option Term only by giving written notice to LANDLORD not later Deleted: srst <br />than April 1, 2015. ~ubte~t to mutual agreement between the LANDLORD and TENANT, the De~eted:.a <br />term of phis iee:~e n~av he ,~;tenc!ed for an additional two (2) five (5) year Terms (hereinafter - - <br />"Additional 'Terms"}. I~~ Tl'`, '~'~: ' _iesires to extend the Term of this Lease for either ~f=the <br />Additional Terms. TEN ~~ f_ ~~L~id~_[,ANT??_QRD w!-itten_notice_ thereof befcu~.: April 1 De~eted:naon <br />---- <br />2020 and April 1, 2025, respectively. <br />c. Early Lease Termination. TENANT shall have the right to terminate this Lease <br />Agreement without penalty upon 365 days written notice to LANDLORD upon the happening of <br />any of the following events (1) the TENANT loses more than 50% of its revenue volume as <br />measured by the immediately preceding calendar year (2) the State of Minnesota discontinues <br />the practice of appointing license bureaus, as they now exist or other means of obtaining <br />licenses, license plates, vehicle transfers, and/or paying license fees makes operating a license <br />bureau uneconomical Notwithstanding an early termination TENANT shall reimburse <br />LANDLORD for its build-out allowance given TENANT pursuant to paragraph 8.b. below upon <br />the following schedule: if termination is within one-year of Commencement Date, repayment of <br />