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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 />R Pri to 1 c <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 as <br />depicted on Exhibit B . <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 />•o <br />1. Lease. Landlord leases to Tenant the area outlined in Exhibit A along the rear <br />property line of the property located at 6701 Highway 10 (PID 34-32-25-12-0009) <br />(the Leased Area). <br />2. Term. The term of this Lease is from: <br />Lease Period 1: June 1, 2023, through May 31, 2024, <br />And; <br />Lease Period 2 : June 1, 2024, through May 31, 2025, <br />If Tenant desires to end this Lease after a period of one year, Tenant may do so by <br />providing Landlord with 90 days prior written notice. However, in no event may <br />Tenant terminate this Lease earlier than May 31, 2024. Notwithstanding the Lease <br />Term, Landlord may terminate this Lease at any time at Landlord's sole option <br />upon 90 days prior written notice to Tenant. <br />