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,� <br />�� , <br />y �^. <br />CHAMBER OF COMMERCE - #2 <br />LEASE <br />THIS LEASE is made this � day o , 1994, by and <br />between the CITY OF ELK RIVER ("Landlor °), and ELK RIVER AREA <br />CHAMBER OF CONIl�IERCE ( ��Tenant" ) . <br />Landlord and Tenant, intending to be legally bound, hereby <br />covenant and agree as follows: <br />ARTICLE 1. <br />PREMISES <br />Landlord daes hereby lease, demise, and let unto Tenant, and <br />Tenant does hereby hire and take from Landlord, upon the terms <br />and eanditions set forth herein (the Lease), that certain parcel <br />of real property situated in Sherburne County, Minnesota, legally <br />described on Exhibit A attached hereto and incorporated herein by <br />reference (the Land), subject to all easements and rights-of-way <br />of record, tagether with all structures thereon and all <br />appurtenances thereto (the Improvements), all of which Land and <br />Improvements are hereinafter referred to as the Premises. <br />Tenant hereby agrees to accept the Premises in its "AS IS" <br />condition. Landlord makes no warranties or representations <br />concerning the condition of the Premises or any equipment or <br />fixtures located therein. <br />ARTICLE 2. <br />TERM <br />2.1) The term of th Lease shall commence o / , <br />1994, and terminate o / , 2009 (the nitial Term), <br />unless sooner terminated as provided herein. <br />2.2) Provided the Lease is in full force and effect and <br />Tenant is not in default of any of the terms or conditions of the <br />Lease, Tenant shall have an option to renew the Lease (the <br />Renewal Option) upon the same terms and conditions contained <br />rein, for one period of five (5) years commencing <br />t , 2009, and terminating�, ��_.,,,� �/ , <br />14. The Renewal Option shall be exerci�ed, �if at all, by <br />Tenant giving Landlord written notice thereof at least sixty (60) <br />days prior to expiration of the Initial Term. The "Initial Term�� <br />and the �'Renewal Option" are collectivel�r referred to herein as <br />the ��Term. �� A"Lease Year�� shall mean each ealendar year, in <br />whole or in part, during the term. <br />2.3) At the time of the execution of this Lease, Tenant <br />desires to remain in the Premises for one (1} additional period <br />of five (5) years commencing upon the expiration of the Renewal <br />Option. Provided the Lease is in full force and effect, Tenant <br />`� <br />