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Resolution 7778
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Resolution 7778
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Last modified
6/25/2019 10:09:47 AM
Creation date
5/24/2011 11:21:33 AM
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MV City Council
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Resolutions
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EXTENSION OF LEASE AGREEMENT <br /> This Extension of Lease Agreement (the "Lease Extension is made and entered into this <br /> day of 2011, between the City of Mounds View, a Minnesota municipal <br /> corporation ("Landlord") and Creative Kids Academy Mounds View, Inc., a Minnesota <br /> corporation "Tenant and amends the Lease Agreement, dated November 20, 2006 (the "Lease <br /> and the Assignment, Assumption and Consent Agreement to Lease (the "Assignment dated <br /> December 22, 2008. <br /> RECITALS <br /> A. The Landlord owns a community center building located on land located at 5394 <br /> Edgewood Drive, Mounds View, Minnesota 55112 (the "Premises <br /> B. Pursuant to the Lease, Creative Kids Child Care Center II, a Minnesota corporation, <br /> leased classrooms, an office and the tot lot on the Premises from the Landlord for the purposes of <br /> operating a child care center. <br /> C. On December 22, 2008, the Assignment was entered into between the Landlord and <br /> Creative Kids Child Care Center 11 and the Tenant. The Assignment assigned Creative Kids Child <br /> Care Center II's rights, title and interest in the Lease to the Tenant. <br /> D. The Landlord and Tenant have agreed to extend the term of the Lease and this Lease <br /> Extension sets forth the terms of such extension. <br /> NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br /> which each party hereby acknowledges, the parties agree as follows: <br /> ARTICLE 1 <br /> Term <br /> Section 1.2 of the Lease is deleted and replaced with the following: <br /> Section 1.2. Tenn The term of this Lease and Tenant's obligation to pay rent hereunder <br /> shall continue until July 31, 2013, at which time the Lease shall expire. Notwithstanding any <br /> contrary provision contained herein, upon at least one (1) years prior written notice from Landlord <br /> to Tenant, Landlord shall have the right to terminate this Lease and upon expiration of such notice <br /> period, the term of this Lease shall automatically terminate. <br /> ARTICLE 2 <br /> Miscellaneous <br /> Section 2.1. Effective Date This Lease Extension shall be effective as of the date written <br /> above. <br /> Section 2.2. Certain Defined Terms Terms used in this Lease Extension and not defined <br /> herein shall have the meanings given in the Lease. <br /> 385197 SJS NW210 -35 <br /> 1 <br />
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