Agenda - Council - 04/25/2023 - Laserfiche WebLink

Home

LEASE AGREEMENT This Lease Agreement, dated this day of , 2023, (this "Lease") by and between the CITY OF RAMSEY, Anoka County, Minnesota, a Minnesota municipal corporation ("Landlord") and rm Golf Carts, Inc., a Minnesota Corporation ("Tenant"). 1. LEASED PROPERTY: The property leased under this Agreement is a portion of a commercial building located at 6745 Highway 10, Ramsey, which property is legally described as Lot 2, Block 2, Deal Industrial Park, Anoka County, Minnesota (the "Property"). The leased area consists of the rear 2,150 square feet of the building shown on the attached Exhibit B, Area F. ("Leased Property"). The parties acknowledge that the rear area of the building is not defined by an interior wall. The parties shall jointly mark the location of the leased space on the building floor. Tenant acknowledges that the remaining, non -leased space within the building may be leased by Landlord to other tenants without the construction of an interior wall demarking the respective leased areas. 2. TERM: a. Term. The terms of this lease is for a period of two years commencing on the 1st day of June 2023 (sometimes called "the Commencement Date") and expiring the 31 st day of May, 2025 (sometimes called "Expiration Date"), unless sooner terminated as hereinafter provided. b. Early Termination. Notwithstanding the Term described in 2(a) above, Landlord may terminate this Lease without cause with six month's written notice to Tenant, and Tenant may terminate this Lease without cause with nine month's written notice. c. Movement of Tenant. During the term of the Lease, Landlord may require Tenant to move from the Tenants Premises to an adjacent Property called 6701 Highway 10, Ramsey, Minnesota. Tenant would be required to move at Tenant's sole expense. Landlord will provide Tenant similar access, ingress/egress and Premises conditions as the current Premises at 6745 Highway 10. The Lease rates in the new Premises will not change upon Tenant's relocation. The new Premises will not have interior walls demarking the respective leased areas and Landlord will be allowed to lease the additional area to other Tenants. 3. RENT: a. Base Rent. Tenant shall pay Landlord, a total monthly rent payment in advance without offset, deduction or demand, as follows: $230.79 per month on June 1, 2023 and a like amount on each first day of the month thereafter through May 31, 2024; and $242.33 per month on June 1, 2024 and a like amount on each first day of the month thereafter through May 31, 2025.