4.4 SR 07-17-2023 - Laserfiche WebLink

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FIRST AMENDMENT TO LEASE AGREEMENT THIS FIRST AMENDMENT TO LEASE AGREEMENT (“Amendment”) dated ___________, 2023, is entered into, by and between the CITY OF ELK RIVER, a Minnesota municipal corporation, (“Landlord”) and iBACKCHECK, PLLC, a Minnesota professional limited liability corporation, d/b/a as iBackCheck Sport Therapy (hereinafter referred to as the “Lessee”). R E C I T A L S: WHEREAS, the Landlord and Lessee entered into a Lease Agreement dated May 3, 2022, (“Lease”) for the lease of certain space within the building located on the property owned by Landlord at 1000 School Street Elk River, MN 55330 (“Lease”); WHEREAS, the parties desire to adjust the payment terms related to the rent credit provided under the Lease. NOW, THEREFORE, in consideration of the terms, covenants and conditions herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Landlord and the Lessee, the Landlord and the Lessee agree that the Lease is hereby modified and amended as follows: 1. Amendment to Article 4. Paragraph D of Article 4 of the Lease is amended to read as follows: D. Rent Credit. Landlord agrees to provide an allowance for Tenant Improvements, as further described in Article 5, in the amount of $43,987.29 (“Rent Credit”). Tenant has received $13,157.85 of the Rent Credit through Month 15 of the Lease. The remaining Rent Credit in the amount of $30,829.44 will be applied as follows: $685.10 each month of the Lease beginning with the rent due th for August 2023 through the 60 Month of Lease. 2. Effect of Lease. Except as specifically modified or amended by this Amendment, the Landlord and Lessee agree that all of the terms and conditions of the Lease are in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first above written. \[The remainder of this page has been intentionally left blank. Signature pages follow.\] 1 227163v1