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• LEASE AGREEMENT
<br /> FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby
<br /> acknowledged, this Lease Agreement is hereby entered by and between Landlord and Tenant as of the
<br /> Effective Date. Capitalized terms shall have the same meaning as those contained on the Data Sheet, the
<br /> terms of which are hereby incorporated by reference.
<br /> 1. Premises. Landlord hereby demises and leases the Premises to Tenant,and Tenant hereby
<br /> rents and takes the Premises from Landlord, subject to and with the benefit of the terms, covenants,
<br /> conditions and provisions of this Lease. The use by Tenant of the Premises shall include a non-exclusive
<br /> right of access over and use of the Common Area. The Premises is located in a certain building (the
<br /> "Building") that is part of a development commonly referred to as the St. Anthony Shopping Center, St.
<br /> Anthony,Minnesota.The land and buildings comprising the St.Anthony Shopping Center shall be defined
<br /> herein collectively as the"Total Site". During any periods in which the Total Site is subdivided into two or
<br /> more parcels, each containing a building and some portion of the Common Area, the legal parcel that is
<br /> created by such subdivision and upon which the Building shall be situated shall be referred to herein as the
<br /> "Property". In the absence of any such subdivision,the word"Property", as used herein, shall refer to the
<br /> Total Site.
<br /> 2. Term. The"Commencement Date"shall refer to the date designated on the Data Sheet.The
<br /> term of this Lease (the "Lease Term") shall begin upon the Commencement Date.
<br /> 3. Base Rent. Commencing upon the Commencement Date,Tenant shall pay to Landlord for
<br /> • the entire term hereof, a fixed rent (herein called "Base Rent") in the amount set forth in the Data Sheet.
<br /> Tenant shall have no obligation to pay Base Rent during any period prior to the Commencement Date. Base
<br /> Rent shall be paid in monthly installments, in advance, on the first day of each calendar month during the
<br /> Lease Term. If the initial month of the Lease Term is less than a full calendar month, Base Rent for such
<br /> partial month shall be prorated at the rate of one-thirtieth of the monthly Base Rent for each day,payable in
<br /> advance.Tenant shall make payment of said Base Rent,together with payment of its Proportionate Share of
<br /> Operating Costs and all other amounts due to Landlord, at the address designated in the Date Sheet, or to
<br /> such other party or address as Landlord may designate from time to time by notice to Tenant,without demand
<br /> • and without deduction, set-off, counterclaim or abatement, except as expressly provided herein.
<br /> 4. Percentage Rents. Gross Sales, and Reports. Petcentage Rent, if any,shall be deteLlnined
<br /> and payable nionthly, based on Gross SaIcs(as defined heminaftet) fo, the pieceding calenda, munth.The
<br /> fit st pay nmnt of b
<br /> Percentage
<br /> ot befo,e the fifteenth day afte, the last day ofthe fi,st fall calendaL nonth and, on u, befo,e the fifteenth
<br /> of each nionth the,cafter As soun as p,actical afte, the end of each hcase Yeat as heminaftcr defined but in
<br /> no event lateL that MaL SI
<br /> ,e Rent paid of: a
<br /> Tenant, each party hereby agreeing to make sitch
<br /> other,adjustment and to pay the on deniand, stich ainatint as may'be necessary to effect adjustment to
<br /> agreed Percentage
<br /> Gross Sales. As noted heMin,the tenn "tttcaus the cuuic............... ...............
<br /> price,sales %V11CHICL VVh0HY OL paftly'fOL cash m on credit,of all tneichandise and seL vices sold and all od
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