CC RES 96-046 RESOLUTION APPROVING THE LEASE BETWEEN THE CITY OF ST. ANTHONY AND INDEPENDENT SCHOOL DISTRICT NO. 282 AND AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE LEASE ON BEHALF OF THE CITY

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City of St. Anthony • School District #282 Page 8 ARTICLE 17. SUBORDINATION. At the request of any mortgagee or ground lessor, this Lease may be subject and subordinate to any mortgage or ground lease which may now or hereafter encumber the Building, and Tenant will execute, acknowledge and deliver to Landlord any document requested by Landlord to evidence the subordination. Such subordination is on the condition that Tenant's right of possession of the leased premises as provided in this Lease will not be distributed by the mortgagee or ground lessor so long as Tenant is not in default under this Lease. If the interest of Landlord is transferred to any party by reason of foreclosure of a mortgage or cancellation of a ground lease, or by delivery of a deed in lieu of foreclosure or cancellation, Tenant will immediately and automatically attorn to such party. Tenant agrees that upon notification by Landlord or any mortgagee or ground Landlord of the election of a mortgagee or ground lessor to subordinate its interest in the leased premises to this Lease, this Lease will become prior to the mortgage or ground lease. ARTICLE 18. GENERAL. • This Lease does not create the relationship of principal and agent or of partnership or of joint venture or of any association between Landlord and Tenant, the sole relationship between Landlord and Tenant being that of landlord and tenant. No waiver of any default of either parry hereunder shall be implied from any omission by the other party to take any action on account of such default if such default persists or is repeated, and no express waiver shall affect any default other than the default specified in the express waiver and that only for the time and to the extent therein stated. Each term and each provision of this Lease performable by Tenant shall be construed to be both a covenant and a condition. All preliminary negotiations are merged into and incorporated in this Lease. This Lease can only be modified or amended by an Agreement in writing, signed by the parties hereto. All provisions hereof shall be binding upon the heirs, successors and assigns of each party hereto. Any notice required to be served in writing hereunder shall be mailed to the parties at the addresses set out after their respective signatures. Any and all indebtedness owing by the Tenant to the Landlord pursuant to the terms of this Lease which remains unpaid for a period of thirty (30) days after it first becomes due and payable shall bear interest from and after the lapse of such thirty (30) day period at the rate of eight percent (8%) per annum. This Lease shall not be effective until executed by all parties hereto. Article 19. TERMINATION. • Either party may terminate this lease upon ninety (90) days written notice to the other party.