03/08/1999 Council Packet - Laserfiche WebLink

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term of this lease for an additional fifteen (15) years after the expiration of the original term. Such option term shall commence automatically without further notice unless six (6) months prior to the termination date of the initial term, Lino Lakes, in writing, indicates its intent not to exercise such option to Circle Pines. 3. RENT. Lino Lakes shall pay to Circle Pines as and for rent for the demised premises, in advance on the first day of each and every year during the term of this lease the sum of One and no /100 ($1.00) Dollar per year commencing on , 1998. 4. SPECIAL ASSESSMENTS. It is agreed by and between Circle Pines and Lino Lakes that each shall pay fifty (50 %) percent of all taxes, assessment and impositions imposed by other governmental bodies regarding the demised premises, of any kind, if any, including special assessments. 5. UTILITIES. Lino Lakes shall pay promptly as and when the same become due and payable, all rents, rates and charges for water, sewer, electricity, and gas used by Lino Lakes in connection with the use of the demised premises. 6. USE OF THE PREMISES. Lino Lakes agrees that the premises shall be used only for park purposes. The premises may be used by the citizens of Circle Pines and other communities. Lino Lakes shall not have the right to use the premises for any other purposes without the express written approval of Circle Pines. 7. IMPROVEMENTS. Lino Lakes agrees that it will construct park improvements according to the plans and specifications attached hereto and made a part hereof as Exhibit B. All improvements and construction on the demised premises shall be at the direction and expense of Lino Lakes. Any additional permanent improvements to the premises shall not be constructed without prior review and prior written approval by Circle Pines. At the termination of this lease, all permanent 2