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- OLJty <br />LL <br />OVERS WAREHOUSE, INC., A MINNESOTA CORPORATION <br />AND <br />THIS LEASE is entered into between MOVERS WAREHOUSE, <br />INC., a Minnesota corporat'on, as Lessor (hereinafter "Lessor ") <br />and L,ijk Cz;nhfK7,ke n /.Lhm,i rt'(. , as Lessee (hereinafter' <br />"Lessee ") in consideration of the covenants herein contained as <br />follows: <br />1. DESCRIPTION OF„PROPERTY. Lessor hereby leases to <br />said Lessee that certain land and premises lying in the County of <br />Ramsey, State of Minnesota, and described as follows: <br />The Easterly 15,600 square feet, more or less, in a one - <br />story building at 2940 Rice Street, Little Canada, <br />as shown on the Floor plan attached as Exhibit A. <br />This Lease shall convey the exclusive useaof the <br />premises to Lessee on / " of each week during the term <br />of the Lease. It is understood that the use of the premises on <br />days other than / is subject to other lessees' use. <br />/4,2r. TERM. The term of this Lease shall commence the ^ <br />day of-,, 1987, and continue until the . 0th day of Junc, 1992. <br />3. OPTION TO RENEW. Provided the Lessee is not in <br />default on the day it exercises the option provided for herein, <br />Lessee shall have the option of renewing this Lease for an <br />additional five (5) year term. The terms of this Lease shall <br />continue during the renewed lease term, except that the base rent <br />set forth in paragraph 7 hereof shall increase in a percentage <br />amount equal to the percentage increase in the Consumer Price <br />Index for urban areas during the period July 1, 1987, and June 30, <br />1992. Notice of Lessee's intent to renew shall be given to Lessor <br />in writing at least 180 days prior to lease expiration. <br />4. 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 case 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. Hamline Avenue, Suite 220 <br />St. Paul, MN 55113 <br />Page 6 <br />