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DRAFT <br /> <br /> <br />15 <br />416585v3 SJR MU210-35 <br />30. STATE BOND FINANCE PROPERTY ACKNOWLEDGEMENT AND <br />COMPLIANCE: <br /> <br />The Landlord and Tenant acknowledge that funding for a portion of the Premises was <br />obtained through a grant from the State of Minnesota’s Department of Children, Families and <br />Learning, and as such, the Premises is considered state bond financed property. Landlord states <br />and Tenant, to the best of it’s knowledge, without inquiry agrees that the following requirements <br />contained within this Lease are included to satisfy the state bond finance property requirements <br />of Minnesota Statutes Section 16A.695 for Use Agreements, to comply with the requirements <br />contained in the G.O. Compliance statutes, and pursuant to the Commissioner’s Order. <br /> <br /> (a) ENTITY STATUS. The Landlord is defined as a public entity organized as a <br />charter city pursuant to Minnesota Statutes Chapter 410, and is thus, a Minnesota municipal <br />corporation. <br /> <br /> (b) DEMISED PREMISES OWNERSHIP. The Premises is owned solely and <br />completely by the Landlord, the City of Mounds View. <br /> <br /> (c) AGREEMENT AUTHORITY. The Landlord has entered into this Lease with the <br />Tenant pursuant to Minnesota Statutes Section 471.15 and the City of Mounds View Municipal <br />Charter and Municipal Code. <br /> <br /> (d) GOVERNMENTAL PROGRAM. This Lease is (i) being executed and entered <br />into to carry out a Governmental Program, (ii) such Governmental Program is the City of <br />Mounds View Parks and Recreation Program, including the operation of the Community Center <br />and its accompanying facilities, as well as the parks within the City and general recreational <br />programming within the City; and (iii) such Governmental Program constitutes the Mounds <br />View Parks and Recreation Program and is authorized pursuant to Municipal Charter <br />Section 6.02, Subdivision 1, Municipal Code Section 106.05 and Chapter 405, and Minnesota <br />Statutes Section 471.15. <br /> <br /> (e) GOVERNMENTAL PROGRAM OVERSIGHT. The Landlord has accepted <br />financing through a Government Bonding Program. If required by the State for compliance <br />purposes, Tenant will provide the State the right to inspect and audit Tenant’s books and records <br />for its operations at the Premises, with each such review to show the program budget, revenues <br />and expenses. <br /> <br /> (f) TERM OF THE USE AGREEMENT. As the Premises consists of land and <br />buildings, the term of this Lease as provided herein relating to the building and improvements, <br />and including all renewals which are solely at the option the Tenant, is for a period of time which <br />is less then 50% of the useful life of the Premises. <br /> <br /> (g) TERMINATION OF THE USE AGREEMENT. This Lease allows for <br />termination by the Landlord, pursuant to Section 13.2, in the event of default hereunder by the <br />Tenant. The termination of this Lease is also allowed by the Landlord, pursuant to <br />Section 16.13, in the event that the Governmental Program is terminated or changed.