Resolution 9343 - Laserfiche WebLink

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Recreation Program and is authorized pursuant to Municipal Charter Section 6.02, Subdivision 1, Municipal Code Section 106.05 and Chapter 405, and Minnesota Statutes Section 471.15. (e) GOVERNMENTAL PROGRAM OVERSIGHT. The Landlord has accepted financing through a Government Bonding Program. If required by the State for compliance purposes, Tenant will provide the State the right to inspect and audit Tenant's books and records for its operations at the Premises, with each such review to show the program budget, revenues and expenses. (f) TERM OF THE USE AGREEMENT. As the Premises consists of land and buildings, the term of this Lease as provided herein relating to the building and improvements, and including all renewals which are solely at the option the Tenant, is for a period of time which is less then 50% of the useful life of the Premises. (g) TERMINATION OF THE USE AGREEMENT. This Lease allows for termination by the Landlord, pursuant to Section 13.2, in the event of default hereunder by the Tenant. The termination of this Lease is also allowed by the Landlord, pursuant to Section 16.13, in the event that the Governmental Program is terminated or changed. (h) COST OF OPERATION OF THE FACILITY ("PREMISES"). The Landlord possesses specific statutory authority pursuant to Minnesota Statutes Section 471.15, the City's Municipal Charter Section 6.02, Subdivision 1, and the City's Municipal Code Section 106.05 and Chapter 405, to expend monies to operate and maintain the Premises. (i) RECEIPT OF MONIES/COMPLIANCE WITH TAX CODE. It is contemplated and understood by the parties to this Lease that the Landlord's operation of the Premises is in compliance with the tax code. 0) SALE OF THE FACILITY (PREMISES). (i) This Lease is free of any provisions which would require the Landlord to sell the Premises for an amount less than the fair market value if it is to be sold to a non-public entity. (ii) This Lease is free of any provisions which would allow the Landlord to sell the facility (Premises) without the Landlord first determining, by official action, that the Premises is no longer usable or needed to carry out the Governmental Program. (iii) This Lease is free of any provisions which would require the Landlord to sell the Premises without first obtaining the written consent of the Commissioner of Finance, pursuant to Minn. Statutes Section 16A. 695, Subdivision 3, and the Commissioner's Order. 14 416585v5 SJR MU210-35