4.4 SR 05-02-2022 - Laserfiche WebLink

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LEASE AGREEMENT This LEASE AGREEMENT ("Lease") is made and effective as of , 2022, by and between the CITY OF ELK RIVER, a Minnesota municipal corporation (hereinafter referred to as the "Landlord"), iBackCheck, PLLC, a Minnesota professional limited liability corporation, d/b/a as iBackCheck Sport Therapy (hereinafter referred to as the "Tenant"). The Landlord and Tenant hereby agree as follows: ARTICLE 1 — LEASED PREMISES Subject to the terms, covenants and conditions of this Lease, Landlord does hereby lease and let unto Tenant, and Tenant does hereby hire, lease and take from Landlord, space in the building ("Building") located on the Property owned by Landlord located at 1000 School Street; Elk River, MN 55330, identified as "Sport Therapy Facility" on Exhibit "A" attached hereto, and incorporated herein, (hereinafter referred to as the "Leased Premises"). Tenant agrees to take and does take the Leased Premises in its "as is" condition. The Building and the Property are known as and hereinafter jointly referred to as the "Community Center". ARTICLE 2— TERM OF LEASE A. The term of this Lease shall be for 60 months as set forth on the Reference Page (hereafter referred to as the "Initial Term") upon the rentals and subject to the conditions set forth in this Lease, and the Exhibits attached hereto. The Commencement Date and the Termination Date are speci�cally subjectto the provisions of Article 6 hereof. B. Tenant shall, provided this Lease is in full force and effect and Tenant is not in Default under any of the other terms and conditions of this Lease at the time of noti�cation, have the option to renew ("Renewal Option") this Lease for a term of �ve (5) years ("Renewal Term") on the same terms and conditions set forth in this Lease, except as modified by the terms, covenants and conditions as set forth below: l. If Tenant elects to exercise the Renewal Option, then Tenant shall provide Landlord with written notice no earlier than a date which is one year prior to the Termination Date of the this Lease but no later than a date which is ninety (90) days prior to the Termination Date. If Tenant fails to provide such notice, Tenant shall ha�e no further or additional right to extend or renew the Lease. The notice shall be given in the manner provided in this Lease for the giving of notices to Landlord. 2. The monthly Rent for the first (lst) year of the Renewal Term shall be Five Thousand Two Hundred Eight-Two Dollars and 81/100 ($5282.81), subject to annual increases as provided in Article 4-Rent, along with any Additional Rent that is due under the terms of this Lease. 3. The Renewal Option is not transferable and the parties acknowledge and agree that they intend that the aforesaid Renewal Option of this Lease shall be "personal" to 4 zzi4s2�9