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<br /> <br />December 22, 2020 <br /> <br />Mr. Mike Merrill <br />Sportech <br />10800 175th Ave NW <br />Elk River, MN 55330 <br />mmerrill@sportechinc.com <br /> <br />RE: Sportech Expansion Proposal <br /> 10752 168th Circle NW, Elk River, MN <br /> <br />Dear Mike: <br /> <br />Thank you for the opportunity to present this proposal expanding Sportech within <br />the Meritex portfolio. Sportech has been an excellent client and we look forward <br />to continuing the relationship. <br /> <br />Expansion Premises: Approximately 91,050 square feet <br /> <br />Commencement: October 1, 2021 <br /> <br />Lease Term: Twelve (12) years from October 1, 2021, which <br />includes the existing 105,000 square foot premises. <br /> <br />Net Rental Rate: $5.75 per square foot with 2% annual increases. <br /> <br />Operating & CAM Tenant’s proportionate share shall include the <br />Expense and Taxes: expansion square footage <br /> <br />Shell Improvements: Landlord shall provide up to $65.50/SF to expand the <br />building. <br /> <br />Shell Improvements to be further defined in the <br />lease document and final construction plans. <br />General clarifications below: