Agenda Packets - 1999/03/22 - Laserfiche WebLink

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LEASE AGREEMENT THIS INDENTURE made and entered into as of this day of , 1999, by and between the City of Mounds View, MN whose address is 2401 Highway 10, Mounds View, MN 55112 (hereinafter referred to as "Landlord") and Children's Home Society of Minnesota, a Minnesota non-profit corporation, whose address is 1605 Eustis Street, St. Paul, MN 55108 (hereinafter referred to as "Tenant"). WITNESSETH ARTICLE I - GRANT, TERM,AND RENEWALS 1.1 DEMISED PREMISES. In consideration of the rents, covenants and agreements herein reserved and contained on the part of Tenant to be performed, the Landlord does hereby lease to Tenant that portion of the building formerly known as the Bel Rae Ballroom located at 5394 Edgewood Drive, Mounds View, Minnesota 55112 (the "Building") consisting of that portion of the Building described on Exhibit A attached hereto (hereinafter referred to as the "Demised Premises"). Without limiting the foregoing, the Demised Premises consist of(a) classrooms, (b) an office, and(c)the tot lot, all as shown on Exhibit A attached hereto. In addition, Tenant shall have certain rights regarding Shared Space consisting of the kitchen, as more fully described in Section 7.1 hereof. The layout set forth in Exhibit A shall not be altered or changed except upon the written agreement of Landlord and Tenant. 1.2 TERM. The term of this Lease and Tenant's obligation to pay rent hereunder shall commence on January 15, 1999 and shall continue until and the term of the Lease shall expire on the fifth(5th) anniversary of the Commencement Date. Not withstanding any contrary provision contained herein, upon at least one (1) years prior written notice from Landlord to Tenant, Landlord shall have the right to terminate this Lease and upon expiration of such notice period, the term of this Lease shall automatically terminate. ARTICLE II-RENT 2.1 RENT. During 1999, Tenant agrees to pay as base rent (the "Base rent") to Landlord at 2401 Highway 10, Mounds View, MN 55112, or at such other place as the Landlord may from time to time designate in writing, Thirty Thousand and no/100 dollars ($30,000)per year payable in quarterly installments on January 1, April 1, July 1, and October 1. Tenant will provide an accounting of the number of children in the facility for each month of 1999. After 1999, Tenant agrees to pay as base rent, Thirty Thousand and no/100 Dollars ($30,000),per each year payable in advance in twelve equal monthly installments of Two Thousand Five Hundred and no/100 Dollars ($2,500.00) on or before the first day of each month Page 1 3/22/99 CHS Lease agreement