01-25-2021 Council Packet - Laserfiche WebLink

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ARTICLE 1. Leased Premises. Subject to and upon the terms, provisions and conditions hereinafter set forth, and each in consideration of the duties, covenants and obligations of the other hereunder, Landlord does hereby lease to Tenant, and Tenant does hereby lease from Landlord, the Leased Premises described herein, which Leased Premises are located in the building located at 620 Town Parkway, Lino Lakes MN 55014 (the "Building"). The Leased is more particularly depicted in the attached Exhibit A (hereinafter referred to as the "Leased Premises"). The Leased Premises consists of approximately 5,388 rentable square feet with expansion to 8,327 rentable square feet. Tenant has reviewed the calculation of the square feet of the Leased Premises and accepts the calculations for purposes of this Lease Agreement. Any inaccuracy of the square footage will not affect the amount of Gross Rent to be paid by Tenant. Tenant will also have use of the Outdoor Play Area. See Exhibit C for details. (a) Tenant Improvements by Landlord — None (b) Tenant assumes full responsibility for the condition and operation of the Leased Premises, and the Landlord shall have no liability in respect thereto, or for damage to the property of the Tenant or on account of condition or operation of the Leased Premises. Landlord will have the right to inspect the Leased Premises after completion of Tenant Improvements. Tenant accepts (and is deemed to have accepted upon occupancy) the Leased Premises on an "as is", "where is", and "with all faults" basis on the Commencement Date, without warranty or representation of any kind, including without limitation, any warranty or representation as to the merchantability or fitness for a particular purpose of any portion of the Leased Premises. Tenant further acknowledges that Landlord is under no obligation to make any alterations, decorations, additions or improvements in or to the Leased Premises or to provide any build -out or improvement allowance with respect thereto except as expressly set forth in this Lease. ARTICLE 2. Purpose and Use. (a) The Tenant represents that the Leased Premises shall be used by the Tenant only for the purpose of providing the usual childcare, teaching / tutoring center and related purposes in connection with the operation of a childcare center. The Leased Premises shall be used and occupied by Tenant so as not to contravene any present or future governmental or quasi - governmental laws in force or reasonable requirement of insurance carriers or the provisions of Article 9 hereof. ARTICLE 3. Lease Term. (a) Tenant takes the Leased Premises from Landlord, upon the terms and conditions herein contained, to have and to hold the same for the initial term of Sixty (60) months (hereinafter referred to as "Lease Term") commencing on the 1st day of July, 2014 and terminating on the 30th day of June, 2019 (the "Initial Term"). Tenant may have ("Early Access") to the Leased Premises at no additional cost to the Tenant upon Lease execution to preform improvements to the Leased Premises. All provisions of this Lease shall be applicable during Early Access. Any extension of the Term hereunder shall be on the same terms and conditions as are applicable to the Initial Term; provided the Base Rent payable monthly by Tenant to Landlord for the 2