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LEASE AGREEMENT <br /> AMENDMENT THREE <br /> March 1, 2016 <br /> This Amendment Three is entered into by and between the City of Ramsey and Pro <br /> Power Sports & Marine, Inc., and amends the Lease Agreement between the parties <br /> dated March 1, 2013, Amendment One dated January 28, 2015 and Amendment Two <br /> dated June 23, 2015. <br /> Recitals <br /> 1. Tenant operates a business on property located at 6781 Highway 10 in Ramsey <br /> and owned by Pro Power(PID 34-32-25-12-0022). <br /> 2. Pursuant to the Original Lease, Amendment One and Amendment Two, Tenant <br /> rents a portion of City-owned property located directly to the west of Tenant's <br /> business (PID 34-32-25-21-0103, 15,000 square feet, 6811 U.S. Highway 10). <br /> 3. Pursuant to the Original Lease, Amendment One and Amendment Two, Tenant <br /> also rents a portion of the City-owned property located directly to the east of <br /> Tenant's business (PID 34-32-25-12-0008, 3,200 square feet, 6745 U.S. Highway <br /> 10). <br /> 4. The City and Tenant are willing to extend the lease terms for both parcels (PID <br /> 34-32-25-12-0008 and PID 34-32-25-21-0103) (collectively, the "Leased Area"). <br /> Agreement <br /> 1. Recitals. The recitals set forth above are hereby incorporated into this Agreement. <br /> 2. Term. This Amendment Three is effective upon execution by both parties and <br /> shall remain in effect through February 28, 2018. <br /> 3. Lease Rates. <br /> PID # 34-32-25-12-0008: <br /> March 1, 2016—February 28, 2017 is $139.09 /month <br /> March 1, 2017—February 28, 2018 is $143.26 /month <br />