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SJR-241674v2 <br />MU125-11 <br />1 <br /> <br />LEASE AGREEMENT <br /> <br /> This Lease is made effective as of January 1, 2010, by and between the City of Mounds <br />View, a Minnesota municipal corporation (“Owner”) and Twin Cities North Chamber of <br />Commerce, a Minnesota non-profit corporation ("Tenant"). <br /> <br /> <br />DATA SHEET <br /> <br /> The legal significance of the terms set forth in this Data Sheet is governed by references <br />to such terms in the remainder of this Lease. <br /> <br />• BUILDING. That certain building situated on the following described real estate: <br /> <br /> Commonly known as MOUNDS VIEW COMMUNITY CENTER <br /> <br />• PREMISES. That space in the Building, as designated on Exhibit A annexed hereto, <br />consisting of approximately 1,104 square feet measured from the exterior surface of <br />the exterior walls to the center of the interior walls and Tenant’s proportionate share <br />of the Common Areas. The street address of the Premises is 5394 Edgewood Drive in <br />the City of Mounds View. <br /> <br />• LANDLORD: City of Mounds View, 2401 Highway 10, Mounds View, MN 55112. <br /> <br />• TENANT: Twin Cities North Chamber of Commerce, 5394 Edgewood Drive, Suite <br />100, Mounds View, Minnesota 55112 <br /> <br /> <br /> 1. PREMISES: <br /> <br /> Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, for the term <br />and upon the conditions hereinafter provided, the Premises described in the Data Sheet. <br /> <br />2. TERM: <br /> <br /> The Term of this Lease shall commence on the 1st day of January, 2010, and shall <br />terminate on the 31st day of December, 2014, unless earlier terminated as hereinafter provided. <br /> <br /> 3. RENT: <br /> <br /> Tenant agrees to pay Landlord, at 2401 Highway 10, Mounds View, MN 55112, or such <br />other place as Landlord may from time to time designate in writing, on or before the first day of <br />each month commencing January 1, 2010, the monthly Rent of $1,012.37. On January 1, 2011, <br />the monthly Rent shall increase by 3%. On each January 1st thereafter, the monthly Rent shall be <br />increased by the lesser of the following: