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<br />' -~ - - 7. The City shall pay any and all costs associated with its <br />• use of the leased premises. The University shall incur no cost <br />whatsoever because of this Agreement. <br />` 8. Zn the event of default of any term or condition of this <br />`l~greement, the defaulting party shall be entitled to thirty (30) <br />days written notice specifying the nature of the default. In the <br />event said default is not corrected within said thirty (30) day <br />period, or a cure commenced and the defaulting party be diligently <br />pursuing correction, the non-defaulting party may elect to <br />terminate this Agreement immediately, and the obligations of that <br />party hereunder shall cease immediately. <br />9. This agreement commenced July 1, 1975 and shall <br />automatically be renewed annually unless either party shall give <br />ninety (90) days written notice of cancellation to be effective on <br />• the subsequent anniversary of this Agreement. <br />10. All the covenants and promises hereof shall inure to the <br />benefit of and be binding upon the respective successors and <br />assigns of the parties. <br />IN WITNESS WHEREOF, the parties hereto have executed this <br />Second Agreement Amending and Restating Lease on the day and year <br />first written above. <br />REGENTS OF THE UNIVERSITY OF <br />MINNESOTA <br />By ~ - <br />Its ~ (.e, J~ <br />• 4 <br />