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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LEASE AGREEMENT This LEASE AGREEMENT ("Lease") made as of the day of SeptembeF October, 1996, by and between Ste.Marie Company,a Minnesota corporation,having a mailing address of First Bank Place,601 Second Avenue South,Minneapolis, Minnesota 55402 ("Landlord"),and the City of St. Anthony, Minnesota, a Minnesota municipal corporation, having a mailing address of 3301 Silver Lake Road, St. Anthony, Minnesota 55418-1699 ("Tenant"). Witnesseth FOR AND IN CONSIDERATION of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: DATA SHEET (1) SHOPPING CENTER: The shopping center known as Apache Plaza. The boundaries of the Shopping Center are shown on the site plan attached hereto as Exhibit A-1; the legal description of the Shopping Center is shown on Exhibit A-2 attached hereto. (2) SUBJECT PARCEL: A portion of the Shopping Center on which the Premises are located; the boundaries of which Subject Parcel are shown on Exhibit B-1 attached hereto. The legal description of • the Subject Parcel is shown on Exhibit B-2 attached hereto. (3) PREMISES: The area cross-hatched on Exhibit C attached hereto. For purposes of this Lease, the Premises shall be deemed to contain 8,506 square feet. The Premises includes the premises currently located in an existing building deemed to contain 3,699 square feet and "Expansion Premises" (labeled as such on Exhibit B-1) deemed to contain 4,807 square feet. Square footage may be modified in accordance with Article 6 Section E hereof._ The Premises shall also include any basement areas within the perimeter of the Premises and such areas shall otherwise be covered and governed by the terms of this Lease. however. the area thereof has not and shall not be included in the calculation of Rent. (4) COMMENCEMENT DATE: danua The date as established in accordance with Article 2. Section A hereof, which date is expected to be on or about Mal 1, 1997. (5) Intentionally Omitted. (6) TERM: A period of 180 months during which this Lease shall be in effect, which shall commence on the Commencement Date and terminate on the last day of the period specified in Section 10(c) of this Data Sheet (the "Termination Date"); said period being sometimes herein referred to as the "Base Term". Tenant is granted an option to extend the Lease as indicated in Section 7 of this Data Sheet and in the event of such extension the Termination Date shall then be extended to the last day of the duly exercised Option Term. The "Term" shall include the Base Term and any Option Term duly exercised by Tenant in accordance with the provisions of this Lease. (7) OPTION TO EXTEND: Subject to Article 3 hereof,Tenant shall have one option to extend this Lease for one (1) period of five (5) years (such period being an "Option Term"). 326559.8 Redlined V8 to V7 9.27-96 1