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

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If to Landlord: City of Ramsey Attention City Administrator Ramsey Municipal Center 7550 Sunwood Drive NW Ramsey, Minnesota 55303 If to Tenant: M&W Holding Company, LLC Attention: Jeff Wise 14590 Armstrong Boulevard NW Ramsey, Minnesota 55303 Either party may designate a different address to which subsequent notices shall be sent by notifying the other party in the same manner set forth above. Notice shall be deemed given when delivered, if delivered personally or by reputable overnight delivery service that provides proof of delivery, or when mailed if sent by certified or registered mail, return receipt requested. 19. Condemnation. 19.1 Total Taking. If a portion of the Premises is taken so that ingress to and egress from the Premises is materially reduced, or the whole or any substantial portion of the Premises is taken for any public or quasi -public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. 19.2 Partial Taking. If less than a substantial part of the Premises is taken, or a portion of the Premises is taken so that ingress to and egress from the Premises is materially reduced, for any public or quasi -public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and in Tenant's reasonable opinion the Premises are still suitable for the Tenant's business purposes, the Term shall not terminate, but the fixed minimum monthly rent and additional rent payable hereunder during the unexpired portion of the Term shall be reduced to such extent as may be fair and reasonable under all of the circumstances. 19.3 Right to Proceeds. In the event of any such taking or private purchase in lieu thereof, Landlord and Tenant shall each be entitled to receive and retain such separate awards and/or portion of. lump sum awards as may be allocated to their respective interests in any condemnation proceeding, and, in addition, Tenant shall be entitled to the unamortized value of any fixtures and leasehold improvements not capable of removal. 20. Tenant's Trade Fixtures and Removal. Any of Tenant's trade equipment, trade fixtures, goods or other property not removed by Tenant upon Tenant's deserting, vacating or abandonment of the Premises, or upon Tenant's eviction, shall, at Landlord's discretion, be considered as abandoned and Landlord shall have the right (without any obligation to do so), without notice to Tenant, to sell or otherwise dispose of Tenant's property, at the Tenant's 11