Agenda - Council - 01/14/2014 - Laserfiche WebLink

Home

COMMERCIAL LEASE This Lease made effective March 1, 2013, by and between City of Ramsey, a Minnesota Municipal Corporation, ("Landlord") and M&W Holding Company, LLC, a Minnesota Limited Liability Company, ("Tenant"), who agree as follows: 1. Description of Premises. Landlord leases to Tenant and Tenant leases from Landlord the real property and buildings located at 14590 Armstrong Boulevard NW, Ramsey, Anoka County, Minnesota, and legally described as follows: Lot 2, Block 1, Hauser Addition, Anoka County, Minnesota, (the "Premises"). 2. Term. This Lease's term shall be for two (2) years, commencing March 1, 2013 (the "Commencement Date"), and expiring February 28, 2015 (the "Term"). The Term is subject to the following early termination provisions: 2.1 At any time during the Term, Landlord may terminate the Lease upon 90 days prior written notice to Tenant after Landlord has approved a new road project for Armstrong Blvd. NW and U. S. Highway 10 requiring the removal of the Off -Sale Liquor Store presently on the Premises. 2.2 At any time during the Lease term, Tenant may terminate the Lease upon 90 days prior written notice to Landlord upon Tenants receipt of a certificate of occupancy to occupy a newly constructed off -sale Liquor Store on any real property owned by the City and sold to Tenant or Tenant's purchase of an existing off sale Liquor Store located in Ramsey, Minnesota where Tenant will relocate its off -sale liquor store business presently conducted on the Property. 3. Acceptance of Premises. Tenant's taking possession of the Premises on the Term's commencement shall constitute Tenant's acknowledgment that the Premises are in good condition. Tenant further acknowledges that the Premises including the building, other improvements and fixtures are not new and are being leased "AS IS". 4. Monthly Rent. Tenant shall pay to Landlord as minimum monthly rent, the sum of $3,440.00 per month in advance on the first day of each month, commencing on the Commencement Date and continuing during the Term. Minimum monthly rent for any partial month shall be prorated at the rate of 1/30th of the minimum monthly rent per day. Tenant shall pay all rent to Landlord at the address to which notices to Landlord are given. 4.1 Additional Rent Based upon Real Estate Taxes. As additional rent, Tenant shall pay Landlord the annual real estate taxes and assessments assessed and levied against the Premises. Tenant shall pay to Landlord on the day the monthly rent is due a sum equal to one twelfth (1/12) of the annual property taxes levied against•the Premises. The property taxes and assessments levied against the Premises for tax year 2012 were 13,683.68. Therefore on the Commencement Date Tenant shall pay $1,140.30 for the monthly tax escrow and a like sum on the first day of each month during the 1