Agenda - Council - 07/25/2017 - Laserfiche WebLink

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LEASE AGREEMENT This Lease is effective as of January 1, 2018, and is made by and between the City of Ramsey, a Minnesota municipal corporation, 7550 Sunwood Drive NW, Ramsey, MN 55303 ("Landlord") and Woodman of the World Life Insurance Society, a Nebraska Corporation, 1700 Farnam Street, Omaha, Nebraska 68102 ("Tenant"). DATA SHEET 1 PREMISES. A parcel located at 6401 Highway 10 NW, Ramsey, MN 55303 and which parcel is described as follows: The leased premises is approximately 71,874 square feet in size and is located on real property legally described as Lot 1 Block 1 Sunfish Commons, Anoka County, Minnesota, Property Identification Number 34-32-25-14-0026. The leased premises consists of the paved area only shown on Exhibit "A". 2. TERM. Three (3) years beginning on the Commencement Date (the "Initial Term"). 3. COMMENCEMENT DATE. January 1, 2018 (the "Commencement Date"). 4. TERMINATION. Both Tenant and Landlord may terminate this lease agreement with a twelve (12) month prior written notice. Landlord and Tenant are not obligated to provide this one year written notice to quit in the event of any default by the other party of the terms of this Lease. 5. BASE RENT a. Initial Term i. Year 1: $ ii. Year 2: $ iii. Year 3: $ per month, January 2018 to December 2018. per month, January 2019 to December 2019. per month, January 2020 to December 2020. b. Late Fee. Tenant shall pay a late fee to Landlord of $50.00 each time the rent is not paid by the 1st day of each month when due plus $10.00 per day after the 1st day of the month the rent is not paid up to a maximum late fee of $100.00 per month. c. Damage Deposit. Tennant is responsible for a $500.00 damage deposit to the Landlord by January 1, 2018. 7 LANDLORD ADDRESS City of Ramsey Attention: City Administrator Ramsey Municipal Center 7550 Sunwood Drive NW Ramsey, MN 55303 TENANT ADDRESS Dean Holdsworth Woodmen of the World Life Insurance Society 1700 Farnam Street Omaha, NE 68102 Page 1 of 9