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1 <br /> <br /> <br />PINEWOOD GOLF INTERIM MANAGEMENT <br />AGREEMENT <br /> <br /> <br />THIS AGREEMENT (“Agreement”) effective July 1, 2021, by and between the City of Elk <br />River, a Minnesota municipal corporation, at 13065 Orono Parkway, Elk River, Minnesota 55330 <br />(hereinafter "City") and Baer Necessities LLC, a Minnesota Limited Liability Company at 14440 145th <br />Court NW, Elk River, Minnesota 55330 (hereinafter " Operator"). <br /> <br />WHEREAS, the City owns Pinewood Golf Course at 18150 Waco Street NW, Elk River, <br />Minnesota 55330 ("Golf Course" or "Pinewood"). Pinewood is a 9-hole executive course with a <br />1,700 square foot clubhouse and a pole barn maintenance building; and <br /> <br />WHEREAS, the City has entered into a purchase agreement with Operator to; and <br /> <br />WHEREAS, the purpose of this Agreement is to engage Operator between the date hereof and the <br />date of Operator’s acquisition of the Golf C ourse; and <br /> <br />WHEREAS, during the effective dates of this Agreement, the Operator will retain all revenues <br />from the Golf Course and pay all expenses relating to the operation of the Golf Course. <br /> <br />NOW, THEREFORE, the City and the Operator, for the consideration of $1 do hereby <br />mutually agree as follows: <br /> <br />1. Management. The City appoints the Operator as the manager of the Pinewood Golf <br />Course (hereinafter "Golf Course") in accordance with the terms of this Agreement. This <br />appointment is for the purpose of operating, managing, and maintaining the Golf Course. The Golf <br />Course shall be deemed to include the equipment listed on Exhibit A, which shall be maintained by <br />the Operator in as good working condition as of the commencement date of this Agreement, reasonable <br />wear and tear excepted. The equipment may only be used by the Operator for use on the Pinewood <br />Golf Course. <br /> <br />2. Standards of Operation. Operator represents and warrants to City that it shall maintain <br />an efficient and high-quality operation at the Golf Course comparable to other similar golf courses. <br /> <br />3. Term. This agreement shall be for a period commencing on the date first set forth above <br />and ending on the earlier of 1) the date Operator closes on its acquisition of the Golf Course; or 2) the <br />31st day of July, 2021; provided however that the City may terminate this Agreement at will <br />immediately and without cause, by delivery (by mail or by personal service) to Operator (at its address <br />stated hereinabove) of a notice of the City's termination of this Agreement. If this Agreement expires <br />or is terminated the Operator shall, at its own cost and expense, immediately remove all its personal <br />property from the Golf Course, and quit and surrender possession thereof to the City, in good order and <br />condition. This agreement allows the City to terminate at will. This Agreement may be extended, but <br />only by written Agreement signed by both parties.