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09-22-1993 Additions
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09-22-1993 Additions
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7/21/2014 9:45:25 AM
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9/5/2013 11:49:18 AM
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FIRST AMENDED AND RESTATED LEASE AGREEMENT <br />THIS LEASE AGREEMENT, made and entered into this _ day of <br />by and between MKP, Inc., hereinafter called the "Landlord" and <br />hereinafter called the "Tenant ". <br />WITNESSETH: <br />That in consideration of the mutual covenants herein contained and intending to be legally <br />bound hereby, the parties agree as follows: <br />Landlord does demise, lease and let to Tenant, and Tenant does hire and take <br />from Landlord, non - exclusive rights to the premises within the red lines on <br />Exhibit "B" attached, in the building located at 2900 Rice Street, Little Canada, <br />Minnesota. The premises (the "Premises ") shall consist of approximately 11,600 <br />square feet. <br />The term of this lease shall be for five (5) years consisting of five successive one year <br />terms renewable automatically unless terminated pursuant to Article XXIV Section 2 below, <br />beginning on November 1, 1993 (the "Lease Commencement Date "). <br />ARTICLE I <br />RENTAL <br />Section 1. Subject to any applicable maximum rent rates prescribed by law, Tenant shall <br />be liable for its Proportionate Share, as defined below, of the Fixed Annual Minimum Rent, <br />calculated as follows: <br />Base Rent $8.88 sq. ft. <br />Common Area Maintenance Charge ( "CAM ") 1.40 sq. ft. <br />Real Estate Taxes 2.00 sq. ft. <br />Utilities 3.00 sq. ft. <br />Cleaning & Miscellaneous 3.22 sq. ft. <br />TOTAL ( "Fixed Annual Minimum Rent ") $18.50 sq. ft. per year <br />Annual Rent $214,600.00 <br />The Fixed Annual Minimum Rent shall be equal to Two Hundred Sixty Dollars and <br />Twelve One Hundredths Dollars ($260.12) per bingo session, based upon eight hundred twenty - <br />five (825) sessions per year (Landlord may adjust the number of sessions as appropriate to <br />include all sessions scheduled to be held in a given lease year under the "Times and Days of <br />Bingo Activity" set forth in the Bingo Hall Lease Agreement). Upon no less than two weeks <br />prior written notice to Landlord as to any current calendar year, Tenant may add up to three <br />additional sessions, without any rent charged therefor, at the following times: <br />sadoff\wp\mkpieas.2 <br />3 <br />Page 14 <br />
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