Laserfiche WebLink
DRAFT' <br /> <br />LEASE AGREEMENT <br /> <br />This Lease Agreement, dated this day of ,2006, (this "Lease") by and <br />between the CITY OF RAMSEY, Annka County, Minnesotal a Minnesota municipal corporation <br />("Landlord") and R 8,: D PROPERTIES, a Minnesota partnership (hereinafter referred to as <br />"Tenant"). <br /> <br />DEFINITIONS: <br /> <br />"Property." That certain real property located in the City of Ramsey, County of Anoka and <br />State of Minnesota and legally described as Lots 3 and 4, Block 1, GUY ADDITION, Anoka <br />County, Minnesota, including all buildings and site improvements located thereon. <br /> <br />"Building." That certain building containing approximately square feet located upon the <br />Property and commonly described as 6101 Highway 10 NW, Ramsey, Minnesota 55303. <br /> <br />WITNESSETH THAT: <br /> <br />1. TERM: <br /> <br /> a. For and in consideration of the rents, additional rents, terms, provisions and <br />covenants herein contained, landlord hereby lets, leases and demises to Tenant the property for <br />the term of twenty-four (24) months commencing on the __ day of , 2006 <br />(sometimes called "the Commencement Date,) and expiring the 30t~ day of 2008 <br />(sometimes called "Expiration Date"), ("Initial Term") unless sooner terminated' as hereinafter <br />provided. (InS~ b-~i~na! ldmggag~e for b~fid~'t~ ~en'e~ ~ fin ~nfiu~l b~i~ at~ ~arkdii~raie~;~ <br /> <br /> b. Notwithstanding the Initial Term, in the event Landlord determines, in its sole <br />discretion, that the Property or any part thereof is required for the improvement of U.S. Highway <br />10, upon giving a one year prior written notification to Tenant, the Landlord may terminate this <br />Lease. <br /> <br />2. BASE RENT: <br /> <br /> a. Landlord reserves and Tenant shall pay Landlord, a total rent payment in advance <br />without offset, deduction or demand, in equal monthly installments commencing on the <br />Commencement Date and continuing on the first day of each and every month thereafter for the <br />next succeeding months during the balance of the term (sometimes called "Base Rent"). Base <br />Rent shall be $2,400 per month. <br /> <br />3. ADDITIONAL RENT: <br /> <br /> a. Tenant shall pay a sum equal to one hundred percent (100%) of the Real Estate <br />Taxes. The term "Real Estate Taxes" shall mean all real estate taxes, all assessments and any <br />taxes in lieu thereof which may be levied upon or assessed against the Property. Tenant, in <br />addition to all other payments to Landlord by Tenant required hereunder shall pay to Landlord, <br />in each year during the term of this Lease and any extension or renewal thereof, the Real Estate <br />Taxes. Any tax year commencing during any lease year shall be deemed to correspond to such <br /> <br />-243- <br /> <br /> <br />