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Resolution 9755
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Resolution 9755
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Last modified
1/28/2025 4:55:30 PM
Creation date
6/14/2023 10:03:02 AM
Metadata
Fields
Template:
MV Commission Documents
Commission Name
City Council
Commission Doc Type
Resolutions
MEETINGDATE
6/12/2023
Commission Doc Number (Ord & Res)
9755
Supplemental fields
City Council Document Type
Resolutions
Date
6/12/2023
Resolution/Ordinance Number
9755
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EXTENSION OF LEASE AGREEMENT <br />This Extension of Lease Agreement (the "Lease Extension") is made and entered into this 121n <br />day of June, 2023, between the City of Mounds View, a Minnesota municipal corporation <br />("Landlord") and Creative Kids Academy — Mounds View, Inc., a Minnesota corporation ("Tenant") <br />and amends the Lease Agreement, dated January 22, 2018 (the "Lease") and the Assignment, <br />Assumption and Consent Agreement to Lease (the "Assignment") dated 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 II and the Tenant. The Assignment assigned Creative Kids Child <br />Care Center Il'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. Term. The term of this Lease and Tenant's obligation to pay rent hereunder shall <br />continue until July 31, 2028, at which time the Lease shall expire. Notwithstanding any contrary <br />provision contained herein, upon at least one (1) years prior written notice from Landlord to Tenant, <br />Landlord shall have the right to terminate this Lease and upon expiration of such notice period, the <br />term of this Lease shall automatically terminate. <br />DOCSOPENN U210\35\875300.v2-5/ 11 /23 <br />
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