Agenda - Council - 10/13/2015 - Laserfiche WebLink

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LEASE AGREEMENT This Lease Agreement, dated this day of , 2015, (this "Lease") by and between the CITY OF RAMSEY, Anoka County, Minnesota, a Minnesota municipal corporation ("Landlord") and RM GOLF CARTS, Inc., a Minnesota Corporation ("Tenant"). 1. LEASED PROPERTY: The property leased under this Agreement is a portion of a commercial building located at 6745 Highway 10, Ramsey, which property is legally described as Lot 2, Block 2, Deal Industrial Park, Anoka County, Minnesota (the "Property"). The leased area consists of the rear 2,750 square feet of the building shown on the attached Exhibit B ("Leased Property"). The parties acknowledge that the rear 2,750 square feet of the building is not defined by an interior wall. The parties shall jointly mark the location of the leased space on the building floor. Tenant acknowledges that the remaining, non -leased space within the building may be leased by Landlord to other tenants without the construction of an interior wall demarking the respective leased areas. 2. TERM: a. Term. The terms of this lease is for a period of three years commencing on the 14th day of October, 2015 (sometimes called "the Commencement Date") and expiring the 30th day of September, 2018 (sometimes called "Expiration Date"), unless sooner terminated as hereinafter provided. b. Early Termination. Notwithstanding the Term described in 2(a) above, Landlord may terminate this Lease without cause with six month's written notice to Tenant, and Tenant may terminate this Lease without cause with nine month's written notice. 3. BASE RENT: a. Rent. Tenant shall pay Landlord, a total monthly rent payment in advance without offset, deduction or demand, as follows: $250.00 per month on October 1, 2015 and a like amount on each first day of the month thereafter through September 30, 2016; and $262.50 per month on October 1, 2016 and a like amount on each first day of the month thereafter through September 30, 2017; and $275.63 per month on October 1, 2017 and a like amount on each first day of the month thereafter through September 30, 2018. The rent described in paragraph 3 is hereinafter referred to as the "Base Rent." The first month's rent is due upon execution of this Lease Agreement.