Agenda - Council - 11/22/2022 - Laserfiche WebLink

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WHEREAS, Landlord and Tenant now agree, in coordination with Anoka County, that the above referenced Lease will terminate early, to take place concurrently with Closing on the Bialon Property; and, WHEREAS, Tenant agrees to waive any potential damages or business losses that may be claimed by Tenant and any of Tenant's subtenants, now or in the future, related to the use of the Leased Premises and early termination of the Lease. NOW, THEREFORE, in consideration of the mutual covenants hereinafter stated or contained in this Amendment, the parties hereby agree to amend and terminate the Lease as follows: 1. All of the rights and obligations of the Landlord and Tenant under the Lease, including the Tenant's option to renew and Tenant's guaranty shall terminate concurrently with the Closing on the Bialon Property (between Anoka County and Tenant) which is anticipated to occur in February 2023. 2. Tenant agrees to provide notice to Landlord once a date certain is established for the Closing. 3. As a result of the Lease termination, Tenant's use and occupancy of the Leased Premises shall cease as of midnight on the date of the county's Closing on the Bialon Property, or sooner if communicated in writing by Tenant to Landlord that an earlier move -out date will occur. All of Tenant's and subtenants' vehicles and personal property must be removed from the Leased Premises on or before Closing. 4. Rent due and owing from Tenant shall be paid to Landlord as set forth in the Lease and will be prorated to the date of Closing. In the alternative, rent may be prorated to the actual date the Leased Premises are fully vacated, if the vacation occurs prior to Closing. Rent shall be based upon the rate of $1,945.00 per month from and after November 1, 2022. 5. Tenant's security deposit will be returned by Landlord within 30 days of the vacation of the Leased Premises by Tenant. 6. In connection with this mutual termination, Landlord and Tenant agree that each party shall release the other from any claims or causes of action related to the Lease or its early Termination. Tenant further indemnifies Landlord from any potential damages or business losses that may be alleged by Tenant or any of Tenant's subtenants, now or at any time in the future, and Landlord waives any claims that Tenant was in default or owed or owes additional rent to Landlord as a result of use of the Leased Premises by Tenant's business, EZ Auto, Inc., or any other tenant of the Bialon Property. This provision survives termination of the Lease. 7. Counterparts: This Amendment may be executed in any number of counterparts, each one of which shall be deemed to be an original, but all such counterparts together shall constitute one and the same instrument. 2