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3. TERM. The term of this Lease shall commence the 1st <br />day of July, 1987, and continue until the 30th day of June, 1992. <br />4. OPTION TO RENEW. The option to renew shall be based <br />upon mutual agreement of the Lessor and the Lessee. If the Lessee <br />is desirous of continuing the lease agreement, the terms of <br />renewal shall be finalized one hundred eighty (180) days prior to <br />the lease expiration. Notice shall be given accordingly within <br />that time to Lessor. <br />5. NOTICES. The following individuals have been <br />designated by the Lessor and the Lessee to respond to inquiries <br />regarding the leased premises and are further authorized to accept <br />service of process and receive and give receipt for notices and <br />demands, and in the ease of the Lessor, accept the rental payments <br />required herein, in connection with this Lease. <br />LESSOR'S DESIGNEE: <br />Norman M. Brody <br />Chief Executive Officer <br />Thomas S. Short <br />Chief Operating Officer <br />Movers Warehouse, Inc. <br />2233 N. Hemline Avenue, Suite 220 <br />St. Paul, MN 55113 <br />LESSEE'S DESIGNEE: <br />6. USE OF LEASEHOLD. Said land and premises as <br />described herein shall be used exclusively for such lawful <br />purposes as shall be required by Lessee and allowed by the City <br />and State of Minnesota pursuant to a Class A Charitable Gambling <br />License on of each week. <br />7. CONCESSION OPERATION. Lessor agrees to provide <br />Lessee concession services to all bingo events during the term of <br />this lease and any extensions or renewals thereof. <br />8. RENT. The Lessee agrees to pay as base rent for <br />said land and premises Nineteen Thousand Five Hundred Seventy -One <br />and 40 /100 ($19,571.40) Dollars per year payable in installments <br />of One Thousand Six Hundred Thirty and 95/100 ($1,630.95) Dollars <br />per month payable in advance on the 1st day of each month during <br />the lease term. <br />9. ADDITIONAL RENT. In addition to the base rent <br />provided for in Paragraph 8, Lessee shall also pay the following: <br />a. One - seventh (1 /7th) of its prorata share of real <br />estate taxes and assessments, insurance premiums, utilities, and <br />Page 8 <br />-2- <br />