Agenda - Council - 10/23/2018 - Laserfiche WebLink

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Tenant and/or Landlord shall have the right to terminate the Lease at the end of the initial five (5) year term or the two (2) year option terms on Parcels 1 'and 2,' or on Parcel 2, upon providing to Landlord and/or Tenant a written notice at least one (1) year prior to the proposed date of termination of the Lease. 7 RENT: 7.1 . During the Initial Term, Tenant shall pay $2,560.00 per month as and for the rent of the Premises (the "Base Rent"). Tenant will pay all of his operating costs associated with maintenance of the Premises as an outdoor storage facility and parking lot. Rent is due in advance on the fifteenth day of 'each month with the first rental period payment due on the fifteenth day of November 201.1 and continuing on the fifteenth day of each month thereafter. during the term. Tenant shall NOT be required to pay rent from the Commencement Date through November 14, 2011.. 7.2 In the event Parcel 2 is not being rented then the Tenant shall pay $1,460.00 per month as the Rent for Parcel 1: • 7.3 Landlord shall pay the real estate taxes, special assessments or any other charges the Landlord makes against the Premises, EXCEPT for the City's Storm Water Management which shall be the Tenant's responsibility. 7.4 Rent Increase: (i) Market Rate. After the first five ' (5) years at which point the first Option, or consecutive option, is exercised the Landlord may increase the Rent by an amount not to exceed three percent (3%) for the Term of the Option, (ii) . Taxes. After the first three (3) year of the Lease the Landlord may, increase the Rent by the amount that the real estate taxes for the current year for the respective parcels have increased over the prior year, for the year. The real estate taxes due on Parcel 1 in 2011 are $8,356.00 (PIN: 28-32-25-31-0004). The real estate taxes due on Parcel 2 in 2011 are $6,324.00 (PIN: 28-32-25-31-0007). • 8. USE: Tenant will use and occupy the Premises solely as a parking lot or outdoor operable auto, truck and recreational vehicles storage facility, or other uses permitted by Ramsey ,City • Ordinance. 9. ASSIGNMENT AND SUBLETTING: 9.1 Tenant previously owned the Premises and leased the Premises to Barry Gallati, . EZ Auto Sales, Inc., Ryan Plonske, Orlando Holden and Kenyatta Holden and Anatoliy Loginov ("Existing Tenants"). Tenant's leases with Existing Tenants do not terminate until January 21, 2013, December 31, 2014, May 31, 2014, August 14, 2014 and October 31, 2014. The lease 6 • •