7.2. EDSR 04-19-2021 - Laserfiche WebLink

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LEASE TRIS LEASE ("Lease'), the "Effective Date" of which is April }q 2019, is made and entered into by and between ELK SLIVER PLAZA MANAGEMENT, on behalf of Ellavia Elk River, LLC, a Minnesota limited liability company, Naples Partners 8, LLC, a Minnesota limited liability compmry, and Naples Partners C, LLC a Minnesota limited liability company (collectively, the "Landlord") and AZITALA L.L.C., a Minnesota limited liability company ("Tenant'), upon the fotlo mg tams and conditions: ARTICLE 1 • DEVINMONS Unless the context otherwise specifies or requires, the Following terms shall have the meaning specified harm: Lt. B119ditu. The term "Building" shall meant the building located at $O4 Freeport Avemte NW, Elk River, Minnesota 55330, in winch the Premises is located- [.2, ocated L2. Prelim gg. t:e term "Ptentises" sA®li mean Suite 716 in the Building. 1.3, Rentable Arra of the Premises, The term "Romablc Area of the Premises" shalt mean approximately 3,1)00 square feet, wtuch Landlord and Tenant have stipulated as the Rentable Arca of the Prem aes, which stipulation shall be binding on Landlord and Tenant. Tenant acknowledges that the Rentable Area of the Premises includes the usable area, without deduction for columns or projections, multiplied by a load or connection factor to reflect a share of certain areas, which may include lobbies, coindaS, mechanical, utility, janikui34 boiler and service rooms and ulcacN restrooma and ctber public, common and service areas of the Building. 1.4 Leas@ Term. The term "Lease Term" or "Term" aball mean the period between the Commencement Date and the Expiration Date (as such terms are hereinafter defined), unless sooner terminated as otherwise provided in this Lease I.S. Lease Year. The first "Lease Year' shall be the period from the Commenxmcat Doc through the end of the twcifth ()2th) fall calendar month thereafter. Each subsequent Cease Year abell be the twelve (12) calendar months after ibccad of the prceeding Least Year. I.6. Comme_uremeat Dote. Subject to adjustincm as provided m Article Int, the term •+Cormnencetneo Date" shell mean May 1, 2019. I.7. Exuhetiun Date. Subject to adjustment as provided in Article BL, and subject to the "Renewal Options" as set forth in Article VI, the term "Expiration Date" shall mean July 31, 7022. I.S. TenaaYs Pemenl.Ye_ Shure. Except as otherwise set forth w Section 4.02, the terra "Tenant's Perxnrage ShAre" shall initially mean Eleven and 9r100tha percent (l I A9%) with respect to Operating Expenses and TwcntyTwo and 751100ths percent (22.75%), with respect to Property Taxes (as suck terms are hereinafter defined) and one hundred percent _2.