Agenda - Council - 01/27/2026 - Laserfiche WebLink

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FIRST AMENDMENT TO LEASE THIS FIRST AMENDMENT TO LEASE (this "Amendment") is entered into by and between the City of Ramsey, ("Landlord"), and Mille Lacs Motor Sports 11, Inc., a Minnesota corporation, ("Tenant"). RECITALS WHEREAS, Landlord and Tenant entered into that certain Lease dated May 28, 2025 (the "Lease"), whereby Landlord leased to Tenant certain real property located at 6781 Highway 10 NW legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103) and 6745 Hwy 10 NW, Ramsey, Minnesota legally described as Lot 2, Block 1, Deal Industrial Park, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-12-0008), as defined in Exhibit A of the Lease ("Premises") and attached hereto as Exhibit A; and WHEREAS, Landlord and Tenant desire to modify the following terms of the Lease: 1. Term 2. Premises 3. Rent; and 4. Use of Premises, pursuant to the terms and conditions set forth below. AGREEMENT 1. Paragraph 3 Term. is hereby replaced in its entirety as follows: Term. The term of this Lease is from: Lease Period: June 1, 2025 through January 31, 2026. Landlord shall have the right to extend the Lease on a month -to -month basis for a period of up to four (4) months ("Renewal Period"), on the same terms and conditions as set forth in the Lease. The Lease shall automatically renew for the Renewal Period. Landlord shall have the right to terminate the Lease with fifteen (15) days written notice to Tenant at any time during the Renewal Period. 2. Paragraph 2 Premises. is hereby replaced in its entirety as follows: Premises. Collectively, the "Premises" consists of the following two areas: A. Outdoor storage area "A" consisting of a 22,000 square foot area within a parcel legally described as Tract A, Registered Land Survey No. 249, Anoka County, Minnesota, as shown on Exhibit A (PID 34-32-25-21-0103).