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CITY OF RAMSEY <br />STORAGE LEASE AGREEMENT <br />This Storage Lease Agreement is entered into by and between the City of <br />Ramsey, a Minnesota municipal corporation (Landlord) and Mille Lacs Motor Sports <br />II, Inc., a Minnesota corporation (Tenant). <br />Recitals <br />A. Landlord currently leases to Tenant real property located at 6781 Highway 10 in <br />Ramsey, which contains Tenant's "Power Lodge" motorsports business. <br />B. Tenant provides winter boat storage services to its customers. <br />C. Landlord owns the two parcels to the southeast, namely 6745 and 6701 Highway <br />10. Pursuant to the existing Lease Agreement, Tenant leases Outdoor Storage <br />Areas C and D behind and adjacent to the building located at 6745 Highway 10. <br />D. Tenant desires to store customer boats and/or inventory in the row of parking <br />spaces at the rear of the 6701 Highway 10 property. <br />E. Landlord is willing to allow storage of customer boats and/or inventory in said <br />parking area pursuant to the terms of this temporary lease agreement. <br />Agreement <br />1. Lease. Landlord leases to Tenant the area outlined in Exhibit A and Exhibit B <br />along the rear property line of the property located at 6701 Highway 10 (PID 34- <br />32-25-12-0009) (the Leased Area). <br />2. Term. The term of this Lease is from: <br />Lease Period 1: December 1, 2021, through May 31, 2022, <br />And; <br />Lease Period 2: June 1, 2022, through May 31, 2023, <br />And: <br />Option Period - Lease Period 3: June 1, 2023, through May 31, 2024 (the <br />"Option") <br />