Agenda - Council Work Session - 08/09/2010

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1.4(b) Obligation of Tenant to Conform to Lawful Uses. Tenant shall, at its expense, conform to all laws, orders, ordinances and regulations of federal, state, county and municipal authorities and with any directives made pursuant to law by any public officer or officers which shall, with respect to the occupancy, use or manner of use of the Leased Premises or to any abatement of nuisance, impose any order or duty upon Landlord or Tenant arising from Tenant's ...occupancy, use or manner of. use of the Leased Premises. Landlord certifies to the best of Landlord's knowledge, that all uses of the Leased Premises prior. to the Effective Date comply with all municipal laws, orders, ordinances and regulations, and that to the best of Landlord's knowledge, there are no violations of or nonconformance with any other laws, orders, ordinances or regulations applicable to the Leased Premises or the use thereof. 1.4(c) Use of Outlot B. Landlord, as the City of Ramsey, intends to improve that part of the Leased Premises legally described as Outlot B, Gateway North Industrial Park, ("Outlot B") by constructing an extension of the public street known as McKinley Street NW. Tenant's leasehold interest in Outlot B shall therefore be subordinate to the right of Landlord to take exclusive possession of Outlot B for the construction of the McKinley Street extension. Upon completion of said street construction, Tenant shall have those rights to said street similar to that of all members of the public. 2. TERM 2.1 Term of Lease. The term of this Lease shall be for ten (10) years commencing on March 28, 2008, (the "Commencement Date"), and continues to midnight of March 31, 2018 (the "Expiration Date"), unless earlier terminated by law or as provided herein. 2.2 Tenant Early Termination. Notwithstanding paragraph 2.1 above, Tenant, in its sole discretion, may terminate this Lease at any time during the Lease Term upon 18 months written notice to Landlord. In the event Tenant elects to terminate this Lease pursuant to this paragraph 2.2, Tenant shall be required to pay a pro rata amount of the Additional Rent as described in paragraph 3.4 below, through the date it vacates the Leased Premises. 2.3 Landlord Early Termination. Notwithstanding paragraph 2.1 above, the Landlord, in its sole discretion, may terminate this Lease as to the entire Leased Premises upon 12 months written notice by Landlord to Tenant. In the event Landlord elects to terminate the Lease as to the entire Leased Premises, Landlord shall pay to Tenant $78,000.00 for each Lease year between the Commencement Date and March 31, 2013 that it elects to shorten this Lease, and Landlord shall pay to Tenant $58,000.00 for each Lease Year from April 1, 2013 through the Expiration Date that it elects to shorten this Lease. Said annual payment amounts shall be prorated on a daily basis for any partial Lease year. Any such termination notice by Landlord to Tenant must include a conspicuous statement of the termination date and must include a check payable to Tenant in the amount required to be paid by Landlord pursuant to this Section 2.3. 2.4 Landlord Early Termination of Part of Lease Premises. However, Landlord, in its sole discretion, and at no additional cost to Landlord, may elect to terminate the Lease on or after January 1, 2011 for a maximum of ten acres of the Leased Premises (the "Terminated Area"). The Terminated Area shall be a contiguous parcel of land selected by Landlord with the restriction that the remainder of the Leased Premises shall have access to a public street in order 2