Agenda - Council Work Session - 04/27/2010

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by the parties, the then established Base Rent shall continue to the date Tenant is required to vacate the Leased Property. 2. BASE RENT: a. Rent. Base Rent shall be $14,000.00 fora 12 month term based on 11,200 square feet of building rentable space at $1.25/square foot. Tenant shall pay Landlord, a total rent payment in advance without offset, deduction or demand, in two installments as follows: for the ~,~ k~;~~ ~-;'•~ Initial Term of nine months, $7,000.00 on the Commencement Date (6 mos x $1166/mo) and SY~,~Y~.h M~t- $3,500.00 (3 mos x $1,166) on May 1, 2007. Rent payable during any subsequent one year t;~~,.` ~~ Option Period shall be paid in two semi-annual installments with the first installment being due on August 1St of each year and the second installment due on February 1St of each year Failure to pay operating expenses when due shall constitute a default under this lease. 3. ADDITIONAL RENT: a. Operating Expenses. Tenant shall pay all operating expenses including utilities incurred by Tenant in operating the Leased Property. ~ The term "Operating Expenses" shall include but not be limited to maintenance, repair, operation of utilities and lighting), parking and landscaped areas, signs, snow removal, non-structural repair and maintenance of the exterior of the building in which the cold storage is located, all associated with the premises being rented. The payment of the sums set forth in this paragraph 3. shall be in addition to the Base Rent payable pursuant to paragraph 2. of this Lease. If Tenant fails to pay the Operating Expenses when due, Landlord may pay same and the same shall be immediately due to Landlord from -- - __ Tenant, together~i~h-1$~fo interest per annum. - - _- ~ ' I b. Tenant shall not be responsible for the payment of ar~y real estate taxes. Real estate taxes shall be the sole responsibility of Landlord. 4. COVENANTS TO PAY RENT: The covenants of Tenant to pay the Base Rent and the Additional Rent are each independent of any other covenant, condition, provision or agreement contained in this Lease. All rents are payable to Landlord at Ramsey Municipal Center, 7550 Sunwood Drive, Ramsey, Minnesota, or such other place as Landlord may designate. 5. UTILITIES: Landlord shall provide mains and conduits to supply electricity to the Leased Property. Tenant shall pay, when due, all charges for, garbage disposal, refuse removal, electricity, telephone and/or other utility services or energy source furnished to the Leased Property during the term of this Lease, or any renewal or extension thereof. If Landlord elects to furnish any of the foregoing utility services of other services furnished or caused to be furnished to Tenant, then the rate charged by Landlord shall not exceed the rate Tenant would be required to pay to a utility company or service company furnishing any of the foregoing utilities or services. The charges thereof shall be deemed additional rent in accordance with paragraph 3. Landlord shall not be