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Fiver <br />September 18, 2020 <br />This letter of intent sets forth a proposal by which the City of Elk River ("Landlord") agrees to lease to Dr. Christi Jo <br />Christian, iBackCheck Sport Therapy ("Tenant"), 1,000 square feet in the City of Elk River multipurpose facility located at <br />1000 School St NW, Elk River, Minnesota. <br />This letter of Intent is contingent upon: <br />1. Tenant making a $2,120.00 payment to Landlord, within 15 days of the date of this letter, as consideration for <br />Landlord holding the premises for Tenant's future occupancy; and <br />2. Landlord and Tenant negotiating a Lease Agreement by 2021, incorporating the following terms: <br />2.1 Term: Ten (10) years, to commence on the earlier of June 1, 2021, or a date before then selected by <br />Tenant. Tenant shall give Landlord 30 days' prior notice of such date. <br />2.2 Permitted Use: General office and physical therapy/medical treatment uses only. <br />2.3 Monthly Base Rent: $2,120.00. <br />2.4 Utilities and Taxes: Tenant share of utilities and taxes are included in the monthly base rent. <br />2.5 Tenant Buildout: This agreement is for shell space only. Tenant is responsible for final lease -space <br />buildout. <br />2.6 Premises: 1,000 rentable square feet in the Building as described on the attached plan. <br />2.7 Public Liability Insurance Limits: $1,000,000. <br />Dr. Christi Jo Christian <br />iBackCheck Sport Therapy <br />13065 Orono Parkway <br />Elk River, MN 55330 Phone: <br />763.635.1000 <br />John J. Dietz <br />Mayor <br />Tina Allard <br />City Clerk <br />www.ElkRiverMN.gov <br />