Agenda - Council - 01/10/2017 - Laserfiche WebLink

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AMENDMENT #1 TO LEASE AGREEMENT This is an Amendment to the Lease Agreement dated April 22, 2014,between the City of Ramsey, Minnesota, and Motors on Ten LLC d/b/a M & G Trailer Sales and Service (Original Lease Agreement). 1. EFFECTIVE DATE. This Amendment is effective as of January 10, 2017. 2. TERMS. The purpose of this Amendment is to: a. Add additional leased area to the original Subject Property. b. Extend the term of the original Lease Agreement to March 31, 2022. c. The terms and definitions of the Original Lease Agreement continue in full force and effect except as otherwise provided in this Amendment. 3. SUBJECT PROPERTY. This Amendment adds an additional 58,000 square feet ("Additional Leased Area") to the original 40,000 square foot Subject Property. The total leased area now is 98,000 square feet. The Additional Leased Area is shown on Appendix A. The Additional Leased Area is part of the same parcel containing the original Subject Property, PID 28-32-25-43-0002,7443 U.S. Highway 10. 4. PERMITTED USE. The permitted uses of the Additional Leased Area are the same as the permitted uses of the original Subject Property. No vehicles, trailers or other equipment may be parked, or temporarily staged, outside of the fenced area on the Subject Parcel or the Additional Leased Area. 5. SURFACE REQUIREMENTS. Must receive Interim Use Permit (IUP) from City of Ramsey and meet requirements outlined in said permit including, but not limited to: surfacing specifications,required screening, stormwater improvements, and buffering. 6. EARLY TERMINATION. Tenant may terminate the Lease Agreement, as amended, by delivering a written notice to Landlord at least 120 days prior to termination, in which case Tenant shall be responsible for paying Landlord's property taxes until the Subject Property and Additional Leased Area return to a tax exempt status, as determined by Anoka County. This may result in the tenant paying the following year's property taxes.