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GROUND LEASE AGREEMENT <br /> THIS LEASE AGREENIENT is made on or as of the L day of 0.6, 199 7, by and <br /> between THE CITY OF ELK RIVER, a public body corporate and politic under the laws of the State <br /> of Minnesota (Lessor) and THE BOYS AND GIRLS CLUB OF ELK RIVER, INC., a nonprofit <br /> corporation (Lessee). <br /> Lessor and Lessee, intending to be legally bound, hereby covenant and agree as follows: <br /> ARTICLE 1. <br /> DEFINITIONS <br /> 1.1) Definitions- In this Lease Agreement, unless a different meaning clearly appears from <br /> the context: <br /> (01) "Additional Rent" means all sums payable by Lessee in connection with its occupancy <br /> of the Leasehold Property and the Easement Parcel in addition to the annual rental payments <br /> set forth in Section 2.3 hereof. <br /> (02) "Building" means the primary structure to be located on the Leasehold Property and <br /> to be used for the purposes set forth in Section 7.3 of this Lease Agreement. <br /> (03) "City" means the City of Elk River, Minnesota. <br /> (04) "Construction Plans" means the plans, specifications, drawings and related documents <br /> for development of the Leasehold Property and construction of the Improvements, sufficient <br /> to support a projected appraisal by an appraiser approved by Lessor of the value of the <br /> complete Improvements (excluding the value of the Leasehold Property) in an amount not <br /> less than Six Hundred Thirty Thousand Dollars ($630,000.00). <br /> (05) "Easement Agreement" means the Easement Agreement between Lessor and Lessee <br /> of even date herewith. <br /> (06) "Easement Parcel" means the real property adjacent to the Leasehold Property as to <br /> which Lessor has granted an easement to Lessee pursuant to the Easement Agreement. <br /> (07) "Event of Default" means an action by the Lessee listed in Section 13.1 of this Lease <br /> Agreement. <br /> BURNIS 566679.5 <br />