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of <br />iver <br />April 19, 2021 <br />This letter of intent sets forth a proposal by which the City of Elk River ("Landlord") agrees to lease to <br />Dr. Christi Jo Christian, iBackCheck Sport Therapy ("Tenant"), 1,000 square feet in the City of Elk <br />River multipurpose facility located at 1000 School St NW, Elk River, Minnesota. <br />This letter of Intent is contingent upon: <br />1. Landlord and Tenant negotiating a Lease Agreement by August 1, 2021, incorporating the <br />following terms: <br />1.1 Term: Ten (10) years, to commence on the earlier of August 1, 2021, or a date <br />before then selected b y Tenant. Tenant shall give Landlord 30 days' prior notice of <br />such date. <br />1.2 Permitted Use: General office and physical therapy/medical treatment uses only. <br />1.3 Monthly Base Rent: $2,120.00. <br />1.4 Utilities and Taxes: Tenant share of utilities and taxes are included in the monthly base <br />rent. <br />1.5 Tenant Buildout: This agreement is for shell space only. Tenant is responsible for <br />final lease- space buildout. <br />1.6 Premises: 1,000 rentable square feet in the Building as described on the attached plan. <br />1.7 Public Liability Insurance Limits: $1,000,000. <br />Dr. Christi Jo Christian <br />iBackCheck Sport Therapy <br />John J. Dietz <br />Mayor <br />Tina Allard <br />City Clerk <br />