CC RES 96-054 RESOLUTION APPROVING A LEASE BETWEEN THE CIFT OF ST. ANTHONY AND THE STE. MARIE COMPANY AND AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE SAID LEASE ON BEHALF OF THE CITY OF ST. ANTHONY

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(1) "Condemnation"means(a)the exercise of any governmental power,whether by legal proceedings or otherwise, by a Condemnor, or (b) a voluntary sale or transfer by • Landlord to any Condemnor, either under threat of condemnation or while legal proceedings for condemnation are pending. (2) "Date of Taking" means the date the Condemnor has the right to possession of the property being condemned. (3) "Award" means all compensation, sums, or anything of value awarded, paid or received on a total or partial condemnation. (4) "Condemnor" means any public or quasi-public authority, or private corporation or individual, having the power of condemnation. B. Total Taking. If all of the Premises shall be taken in Condemnation,except for a taking for temporary use, this Lease shall be terminated automatically as of the Date of Taking. C. Partial Taking. (1) If(a) twenty five percent (25%) or more of the parking area in the Subject Parcel; or (b) twenty five percent (25%) or more of the rentable area of the Subject Parcel shall be taken;or(c) twenty-five percent(25%)or more of the square footage of the Premises shall be taken,then Landlord shall have the option to terminate this Lease by notice in writing to Tenant given within thirty(30)days after the Date of Taking, which notice shall take effect sixty (60) days after the Date of Taking. (2) If any part of the floor area of the Premises shall be taken, then Tenant may elect • to terminate this Lease upon notice in writing to Landlord of Tenant's election within ten (10)days after the Date of Taking. In the event Tenant does not elect to terminate within such ten (10)day period,then all of the terms herein provided shall continue in effect as to the remainder of the Premises except that the Annual Minimum Rent shall be proportionately and equitably abated, and Landlord shall make all necessary repairs or alterations to the extent of available condemnation Award. (3) If all or a portion of the parking area located on the Subject Parcel shall be taken such that the remaining available parking area is insufficient to meet required governmental standards pertaining to the Premises and any other leased premises on the Subject Parcel, then Tenant may notify Landlord in writing that it intends to terminate this Lease unless Landlord makes sufficient parking available in a location reasonably accessible to the Premises in order to bring the ratio up to the required governmental standards for the Premises. Landlord shall have ninety(90)days from the date of receipt of Tenant's notice to provide such substitute parking area in a location reasonably acceptable to Tenant. If Landlord does not provide such substitute parking within said 90 day period,this Lease shall terminate automatically on the day following the expiration of such 90 days period. D. Temporary Taking. If there is a taking of the Premises for temporary use, this Lease shall continue in full force and effect,and Tenant shall continue to comply with Tenant's obligations under this Lease,except to the extent compliance shall be rendered impossible or impracticable by reason of the taking. E. Award. The Award for any taking shall be the sole property of Landlord, except for relocation payments which are the sole property of Tenant. Tenant hereby waives any rights it may have with respect • to the loss of its leasehold interest in this Lease; provided, however, that Landlord shall not have any right or claim to any award or settlement for Tenant's moving expenses or for the loss of Tenant's stock, personal property and trade fixtures or for the unamortized costs of improvements paid for by Tenant pursuant to this Lease which are the sole property of Tenant for which Tenant shall be entitled to claim separately. F. Landlord Liability. No damages, compensation or claim shall be payable by Landlord by reason of any delay in completing repairs caused by delay in receiving condemnation awards,governmental requirements or Force Majeure defined in Article 29 Section & nor by reason of inconvenience, loss of business or annoyance arising from any restoration of any portion of the Premises, Subject Parcel or of the Shopping Center, provided; however, if the repair is delayed due to the negligence or intentional wrongful act of Landlord,Rent shall be Proportionately abated as to that portion of the Premises needing such repair for the period of such delay se caused by Landlord. Notwithstanding any provision of this Lease to the contrary, if any mortgagee of a mortgage on the Shopping Center or Subject Parcel should require that the proceeds of the Condemnation be used to retire or apply on the debt secured by such mortgage, Landlord shall, in such event, have no obligation to restore the Premises, Subject Parcel or the Shopping Center and at Landlord's 326559.8 Redlined V8 to V7 9-27-96 20