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COUNTYCON J61.6 <br /> TRAGTt4 <br /> LEASE AGREEMENT <br /> This Lease Agreement, dated this day of , 2010, (this "Lease")is made . <br /> � y <br /> by and between the CITY OF RAMSEY, Anoka County, A i esota, a Minnesota municipal <br /> corporation "LANDLORD" and the COUNTY OF ANOKA., a political subdivision of the <br /> State Knnesota("TENANT"). <br /> DEFINITION: <br /> Leased"Space". Approximately 2200 square feet of office space including two (2) closed <br /> offices and one.storage room on the ground floor of the Ramsey Municipal venter located at <br /> 7550 Sunwood Drive NW, Ramsey Minnesota, 55303 (the "office,Space"), The Leased Space <br /> includes approximately 466 square feet of shared common areas.(restrooms,. lunch room, etc,) <br /> (the "Shared Space"). The office Space and the Shared Space total 2,666 square feet and are <br /> collectively referred to hereinafter as the "Leased Space"'. The Leased Space also includes the <br /> right to, use the Parking Facilities as described below. .. The Leased Space is depicted on the <br /> attached Exhibit A. <br /> wITNESSETH THAT: <br /> 1. TERM: <br /> a. Initial Term. For and in consideration-of the rents, additional rents,'terms, <br /> provisions and covenants herein contained, LANDLORD hereby lets, leases and demises -to <br /> TENANT the Leased Space-for the terra of five years commencing on the 1 st day of July, 2010 <br /> (sometimes called "the Commencement Date") and expiring on the 3 0th day of June, 2015 <br /> (sometimes called "Expiration Date") unless sooner terminated as hereinafter provided. The <br /> terns from July 1, 2010 through June 30, 2015 is hereinafter referred to as the "Initial Terra". <br /> TENANT'S obligation to pay rent shall begin on the Commencement Date. <br /> b. Option, to Renew. Provided TENANT is not in default hereunder and has' <br /> performed all of-its covenants and obligations, TENANT•may extend the Term of this Lease <br /> (hereinafter, the "Option Term") for one (1) five (5) year Term with the option Term beginning <br /> on the 'first day after the "Expiration Date" upon the terms and conditions -set forth below, <br /> TENANT may exercise the option Term only by giving written notice to LANDLORD not later <br /> than June-3 0„ 2014. Subject to mutual'agreement between the LANDLORD -and TENANT, the <br /> term of this lease may be extended for an additional two (2) five (5) year Terms (hereinafter' <br /> "Additional Terms"), which agreement shall be made at least 365 days prior to the <br /> commencement of each of the two Additional Terms. <br /> c. Early Lease Termination. TENANT shall have the right to terminate this Lease <br /> Agreement without penalty upon 365 days written notice to LANDLORD upon the happening of <br /> any of the following events (1) the TENANT loses more than 50% of its revenue volume as <br /> measured by the immediately preceding calendar year (2) the State of Minnesota discontinues <br /> the practice of appointing license bureaus, as they now exist or other means of obtaining <br /> licenses, license plates, vehicle transfers, and/or paying license fees makes operating a license <br /> bureau uneconomical Notwithstanding an early termination TENANT shall reimburse <br /> LANDLORD for its build-out allowance given TENANT pursuant to paragraph 8.b. below upon <br /> the following schedule: if termination is within one-year of Commencement Date, repayment of <br /> build-out costs by_TENANT is 100%; from one year to two years—80%; from two to three years <br />