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AMENDED LEASE AGREEMENT <br />CITY OF RAMSEY/TK ENTERTAINMENT, LLC <br />WHEREAS, the parties City of Ramsey and TK Entertainment, LLC have previously entered <br />into a Lease Agreement for the operation of a go-kart track known as Ramsey Raceway. Said <br />Lease Agreement attached hereto as Exhibit 1. <br />And whereas, the parties feel it would be mutually beneficial for the original Lease Agreement to <br />be amended to be in conformity with the Interim Use Permit applicable to this property and <br />approved on May 31, 2011. <br />Now therefore, it is agreed by and between the parties hereto that paragraph 2 of the original <br />Lease Agreement will be modified as follows: <br />The city will lease subject to the terms and conditions defined below to TK, the property <br />for the period June 1, 2011 (the commencement date) through May 31, 2016 (the termination <br />date) for the purpose of operating a go-kart track. The lease term as used herein is the period <br />June 1, 2011 through May 31, 2016. <br />That paragraph 3 of the original agreement relative to early termination shall be deleted <br />in its entirety. <br />All other terms and conditions of the original Lease Agreement noted as Exhibit 1 shall <br />remain in full force and effect. <br />IN WITNESS WHEREOF, the parties hereto have hereunto set their hands <br />CITY OF RAMSEY, a Minnesota TK ENTERTAINMENT, LLC <br />Municipal Corporation <br />By By <br />Its: Mayor Its: Owner <br />ATTEST: <br />By <br />Its: City Administrator <br />Dated: Dated: <br />