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LEASE <br />THIS LEASE is made this 27th day of December, 1996, between <br />the City of Little Canada, a municipal corporation under the laws <br />of the State of Minnesota, (the "Lessor "), and Thompson <br />Companies, Inc., a corporation under the laws of the State of <br />Minnesota, (the "Lessee "). <br />WHEREAS, on even date herewith, Lessee has conveyed fee <br />title to certain property to the Lessor, <br />WHEREAS, Lessee needs to continue the use of the property <br />until May 31, 1997, and <br />WHEREAS, Lessor and Lessee enter into this Lease Agreement <br />for the limited purpose of allowing the continued use of the <br />property by Lessee until May 31, 1997. <br />For valuable consideration, Lessor and Lessee agree as <br />follows: <br />1. Lessor shall lease the following described property to <br />Lessee for a fixed term to expire on May 31, 1997: <br />That part of the Northwest Quarter of the Southwest Quarter <br />of Section 6, Township 29, Range 22, Ramsey County, <br />Minnesota, described as follows: Beginning at a point on <br />the Northerly line of Little Canada Road distant 209.52 feet <br />East of the East line of Rice Street as measured along said <br />Northerly line; thence Southeasterly on the Northerly line <br />of Little Canada road, 200 feet; thence North parallel with <br />said East line of Rice Street and to a line drawn East from <br />a point on said East line of Rice Street distant 209.52 feet <br />- North of its intersection with said Northerly line of Little <br />Canada Road and said line being parallel with the North line <br />of said Northwest Quarter of the Southwest Quarter; thence <br />West parallel with said North line to a line drawn Northerly <br />from the point of beginning and parallel with said East line <br />of Rice Street; thence South to the point of beginning. <br />(Hereinafter described as "the Property "). <br />2. Lessee shall pay to Lessor the sum of One Thousand Eight <br />Hundred and no /100 Dollars ($1,800.00) per month during the <br />period of the lease. It is understood that this sum is roughly <br />equivalent to One /Twelfth (1/12) of the anticipated real estate <br />taxes on the property and acknowledged that other than the <br />payment of this amount to Lessor, Lessee shall have no other <br />obligation regarding the real estate taxes which become due and <br />owing on the property in 1997. <br />1 <br />Page 23 <br />