Agenda - Council - 05/27/2014 - Laserfiche WebLink

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City Council Approval: May 27, 2014 H:Drive>pbrama>leases removal; which includes the 24 stall parking lot, parking lot drive way, and parking lot sidewalk identified in the Appendix. See Article 10 for maintenance details. If Tenant fails to pay other fees as described above when due, Landlord may, but is not required to, pay same. If Landlord exercises this option, same shall be due immediately to Landlord from Tenant together with 10% interest per occurrence. Tenant shall not allow liens to be placed against the Subject Property. 9. INSURANCE Tenant shall purchase and provide general public liability insurance for the Subject Property which shall include coverage for bodily injury, property damage, personal injury, contractual liability, and independent contractors. The Landlord must be listed as an additional insured on Tenant's public liability insurance policy. The minimum public liability insurance required shall be the liability limits described in Minn. Stat. § 466.04 (as amended). Tenant shall provide Landlord a certificate of public liability insurance by July 1, 2014; and shall provide a new certificate annually until the Lease Agreement is terminated. The policy shall provide that its terms shall not be modified, nor the policy terminated, without 30 days prior written notice to the Landlord. Tenant shall purchase and provide general content insurance for 100% of replacement costs to property the Tenant owns and is located within the Subject Property. Tenant shall provide Landlord a certificate of content insurance by July 1, 2014; and shall provide a new certificate annually until the Lease Agreement is terminated. The policy shall provide that its terms shall not be modified, nor the policy terminated, without 30 days prior written notice to the Landlord. 10. MAINTENANCE Tenant shall maintain the Subject Property and any buildings, improvements, fixtures and equipment thereon in a properly functioning, safe, orderly, and sanitary condition, consistent with the condition existing at commencement of this Lease Agreement, and shall at the expiration or other termination of this Lease Agreement, surrender in the same condition, ordinary wear and tear accepted. 11. TENANT PROPERTY IMPROVEMENTS All improvements to the Subject Property made by the Tenant, including wall demolition, shall require written approval by the Landlord, and appropriate permitting through the City of Ramsey. Upon termination of this Lease Agreement, Landlord may request Tenant to remove any, or all, improvements made to the Subject Property at the sole cost of the Tenant. If Tenant fails to remove any such improvement within thirty (30) days of its receipt of such request, Landlord may pay for the removal of same and the cost of such removal, together with 10% interest per occurrence, shall be immediately due as payable to Landlord by Tenant. Any improvements remaining on the Subject Property, with the Lease Agreement: Northern Starz Children's Theatre and City of Ramsey Page 3 of 8