9.0. EDSR 08-13-2001 - Laserfiche WebLink

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, MEMORANDUM OF UNDERSTAND '4110 MEMORANDUM OF UNDERSTANDING ("Agreement") isand entered into this day of , 19_by and between th= of Elk River Economic Development Authority (EDA), Larry Hickman, Genesis Business Centers, Ltd., and , a corporation organized and existing under the laws of the State of (the "Company"). BACKGROUND The EDA has created the Elk River Business Incubator (ERBI) to support the development of new high technology companies ("Member • Companies") during the early years of such Member Companies' development. The Company has been approved as a potential Member Company, and the Company desires the support, services, and programs of the EDA as part of the Elk River Business Incubator. EDA, through its creation of the Elk River Business Incubator, is prepared to arrange for the provision of certain services in accordance with • the terms of this Agreement. NOW, THEREFORE, in consideration of the premises and of the mutual promises and covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties covenant and agree as follows: 1. SERVICES OF ERBI 1.1. Rent of Available Space. At the time of execution of this Memorandum of Understanding, the Company shall have executed a Lease for space within the Elk River Business Incubator. The terms and conditions of such space rental shall be strictly in accordance with the Lease, substantially in the form of Exhibit A attached hereto. 1.2. Leasehold Improvements. In order for the Company (and additional companies) to occupy space within the Elk River Business Incubator, the EDA has provided leasehold improvements in the form of construction of restroom facilities, partition walls, doors, windows, carpeting, and other improvements, at a total cost of$ . Such leasehold improvements were constructed in order to make the Elk River Business • Incubator available to all qualified applicants, including the Company.