HomeMy WebLinkAboutResolution 7778 RESOLUTION 7778
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
AUTHORIZE EXECUTION OF AN AGREEMENT TO EXTEND TERM
OF EXISITNG LEASE FOR AN ADDITIONAL TWO YEARS
WHEREAS, the City of Mounds View, as landlord "Landlord and Creative Kids
Academy— Mounds View, Inc., a Minnesota corporation, as tenant "Tenant entered into
a lease assignment agreement dated December 22, 2008 "Assigned Lease which
modified the original lease agreement dated November 20, 2006; and
WHEREAS, the expiration date of the Assigned Lease is July 31, 2011; and,
WHEREAS, both parties, Landlord and Tenant, desire to extend the existing lease
for an additional two -year period such that the new expiration date would be July 31, 2013
by executing the document entitled Extension of Lease Agreement "Agreement which is
attached hereto as Exhibit A.
WHEREAS, with the exception of the expiration date of the lease, all terms and
provisions of the Lease as assigned remain unchanged.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Mounds View, Ramsey County, Minnesota that the Agreement is deemed acceptable
and the Mayor and City Administrator are authorized to execute the Agreement and to
take all necessary and reasonable steps to effectuate the Agreement.
Adopted this 9th day of May, 2011.
111. e F6h.
ATTEST
C' t.'1'V(.� V
James Ericson, City Administrator
(seal)
EXTENSION OF LEASE AGREEMENT
This Extension of Lease Agreement (the "Lease Extension is made and entered into this
day of 2011, between the City of Mounds View, a Minnesota municipal
corporation ("Landlord") and Creative Kids Academy Mounds View, Inc., a Minnesota
corporation "Tenant and amends the Lease Agreement, dated November 20, 2006 (the "Lease
and the Assignment, Assumption and Consent Agreement to Lease (the "Assignment dated
December 22, 2008.
RECITALS
A. The Landlord owns a community center building located on land located at 5394
Edgewood Drive, Mounds View, Minnesota 55112 (the "Premises
B. Pursuant to the Lease, Creative Kids Child Care Center II, a Minnesota corporation,
leased classrooms, an office and the tot lot on the Premises from the Landlord for the purposes of
operating a child care center.
C. On December 22, 2008, the Assignment was entered into between the Landlord and
Creative Kids Child Care Center 11 and the Tenant. The Assignment assigned Creative Kids Child
Care Center II's rights, title and interest in the Lease to the Tenant.
D. The Landlord and Tenant have agreed to extend the term of the Lease and this Lease
Extension sets forth the terms of such extension.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which each party hereby acknowledges, the parties agree as follows:
ARTICLE 1
Term
Section 1.2 of the Lease is deleted and replaced with the following:
Section 1.2. Tenn The term of this Lease and Tenant's obligation to pay rent hereunder
shall continue until July 31, 2013, at which time the Lease shall expire. Notwithstanding 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 2
Miscellaneous
Section 2.1. Effective Date This Lease Extension shall be effective as of the date written
above.
Section 2.2. Certain Defined Terms Terms used in this Lease Extension and not defined
herein shall have the meanings given in the Lease.
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Section 2.3. No Default Landlord acknowledges that, as of the date hereof, Tenant is not
in default of any term or condition of the Lease. Nothing contained in this Lease Extension shall be
deemed to excuse any default by Tenant in the future.
Section 2.4. Confirmation of Lease Except as specifically amended by this Lease
Extension, the Lease remains unchanged, is hereby ratified and confirmed, and remains in full force
and effect.
IN WITNESS WHEREOF, the parties have executed this Lease Extension as of the day and
year first above written.
LANDLORD:
CITY OF MOUNDS VIEW
By:
Joe Flaherty
Its: Mayor
By:
James Ericson
Its: City Administrator
TENANT:
CREATIVE KIDS ACADEMY
MOUNDS VIEW, INC.
By:
Its:
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