05/02/1988 Park Board Packet - Laserfiche WebLink

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pose without the express written approval of the School District. The City shall have the right to construct and install park and recreational equipment on such premises and may remove same upon termination of this lease, leaving the property of the School District in substantially the same condition as existed at the time of commencement of this Lease, except for improvements which the School Board agrees to accept in writing. School District reserves the right to mine and/or remove any and all minerals , natural gas or oil found in, on or under the leased premises during the term of this Lease, and all such minerals , natural gas or oil shall remain the exclusive pro- perty of the School District unless otherwise reserved to the State by law. 3. RENTAL PERIOD. The term of this Lease shall be for a period of five (5) years commencing on March 1 , , 1987 , and terminating on March 1, , 1992 , unless sooner ter- minated in writing upon mutual consent of the parties . 4. RENTAL CHARGE. The City agrees to pay as rental for the leased premises the sum of One and no/100 ($1 .00) Dollar per year, payable in advance on the first day of each and every year commencing the 1st day of March , 1987 , at the office of the School District , or at such other places as may from time to time be directed by the School District. 5 . UTILITIES AND ASSESSMENTS. The City shall be respon- sible for payment of all utilities supplied to the leased premi- -2-