Agenda - Council - 03/27/2018 - Laserfiche WebLink

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LEASE AGREEMENT THIS LEASE AGREEMENT (hereinafter "Lease") made as of this 14th day of March, 2018, is entered into by and between the City of Ramsey, a Minnesota municipal corporation, 7550 Sunwood Drive, Ramsey, Minnesota 55303 ("Landlord") and Independent Auto Service, Inc., a Minnesota corporation, 6745 Highway 10, Ramsey, Minnesota 55303 ("Tenant"). IN CONSIDERATION OF the mutual agreements expressed herein, the parties agree as follows: 1. Purpose. Landlord is the fee owner of the Premises described in Paragraph 2 of this Agreement. Tenant desires to rent the Premises from Landlord for Tenant's use for auto sales and service. Landlord is willing to lease the Premises to Tenant pursuant to the terms and conditions of this Lease. 2. Premises. The "Premises" consists of the 5,930 square feet of a building located at 6745 Highway 10 Northwest, in Ramsey, Minnesota ("Building") which is located on the following legally described Property: Lot 2, Block 2, DEAL INDUSTRIAL PARK, Anoka County, Minnesota. The Premises also include the exclusive use of the paved parking areas adjacent to the Building within the fenced -in area of the Property. The Premises excludes the RV/cold storage portion of the Building. The Tenant's employees and invitees shall not be permitted to use those parking areas that interfere with the reasonable use of other tenants located within the Building. The Premises is depicted on the attached Exhibit A hereto, and is labeled "5,930 sf Office Space" and "Parking." Exhibit A is incorporated herein as if fully set forth in this Lease. 3. Term. The term of this Lease is for a period of three years, commencing on April 01, 2018 (the "Commencement Date") and ending at midnight on March 31, 2021, unless extended by written agreement of both parties or sooner terminated as provided herein ("Lease Term"). If Tenant desires to end this Lease after a period of one year, Tenant may do so by providing Landlord with 90 days prior written notice. Notwithstanding the Lease Term, Landlord may terminate this Lease at any time at Landlord's sole option upon 12-month days prior written notice to Tenant. Page 1 of 12