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LEASE /�► <br />THIS AGREEMENT, made this -7 day of <br />2002, by and between the City of Hugo, hereinafter "Lesso and <br />Bruce A. Bernin and Virginia R. Bernin, hereinafter "Lessee." <br />WITNESSETH: <br />I. <br />PREMISES <br />That Lessor, in consideration of the rents and covenants <br />hereinafter mentioned, does hereby demise, lease and let unto <br />Lessee, and Lessee does hereby hire and take from the Lessor that <br />part of the premises located at 6540 Green Avenue North, Hugo, <br />Minnesota, consisting of the homestead and approximately ten <br />acres in the Southwest Quarter of Section 16, Township 31 North, <br />Range 21 West and legally described on Exhibit A attached hereto <br />and incorporated herein by reference. <br />II. <br />USE OF PREMISES <br />Lessee shall not use the premises except for residential <br />purposes and for the operation of a tree farm, except with the <br />express written consent of Lesso . <br />III. <br />TERM AND RENTAL <br />TO HAVE AND TO HOLD, said premises just as they are <br />without any liability or obligation on the part of the Lessor to <br />make alterations, improvements or repairs of any kind on or about <br />the said premises for a term of ten (10) years commencing on the <br />30th day of June, 2002. <br />Rent. Lessee shall be obligated to pay the Lessor rent <br />for the ten (10) year term in the sum of $89,352.00 payable in <br />one installment at Lease commencement and subject to an early <br />lease termination payment as provided in Article IV below. The <br />rent payable herein shall be paid to the Lessor at a place <br />designated by Lessor. <br />I <br />