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• LEASE TERMINATION AND MUTUAL RELEASE AGREEMENT <br /> THIS LEASE TERMINATION AND MUTUAL RELEASE <br /> AGREEMENT ("Agreement") is made and entered into as of the JLAr day of August, <br /> 1992, by and among the City of St. Anthony (the "City"), Manning's Cafe, Inc. <br /> ("Manning"), and Lawrence W. Manning ("Guarantor"). <br /> RECITALS: <br /> A. The City, as lessor, and Manning, as lessee, entered into that certain <br /> Lease Agreement dated November 3, 1987 (the "Lease"), under the terms of which <br /> the City leased to Manning certain premises consisting of approximately 507 square <br /> feet of kitchen space and 267 square feet of office and storage space (the "Leased <br /> Premises"), in the building located at 2700 Highway 88, St. Anthony, Minnesota, as <br /> more particularly described in the Lease. <br /> B. Guarantor has executed that certain Guaranty dated October 26,1987 <br /> (the "Guaranty") relating to the Lease. <br /> • C. The City and Manning desire to terminate the Lease in accordance with <br /> the terms and conditions hereinafter set forth. <br /> D. The City, Manning and Guarantor also desire to resolve all disputes, <br /> whether existing or potential, known or unknown, whether mentioned herein or <br /> not, that arise out of any representation, action or inaction occurring in connection <br /> with the Lease prior to the date of this Agreement, without the need for litigation, <br /> according to the terms contained herein. <br /> NOW, THEREFORE, in consideration of the foregoing recitals, the <br /> mutual agreements contained herein and other good and valuable consideration, <br /> the receipt and sufficiency of which are hereby acknowledged, the parties hereto <br /> hereby agree as follows: <br /> 1. Termination. The Lease shall, without the further act of the parties <br /> hereto, terminate as of 11:59 P.M. on September 15, 1992 (the "Effective Date")., and <br /> shall thereafter be of no further force or effect whatsoever; provided, however, that <br /> the obligations of Manning under this Agreement shall survive the termination of <br /> the Lease, and Guarantor shall remain personally liable under the Guaranty for <br /> Manning's performance hereunder. <br /> 2. Survival Until Termination. During the period of time intervening <br /> • between the date-of execution of this Agreement and the Effective Date, the City and <br /> Manning shall remain responsible for the performance of their respective <br />