INFORMATION #1 02-25-2002 - Laserfiche WebLink

Home Browse Search

LIONS PARK CENTER LEASE It is agreed this 1st day of March, 2002 by and between The City of Elk River, Landlord, and Elk River Lions, Incorporated, a 501-C4 non-profit as organized under Minnesota Statutes, collectively, Tenant: That the Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, office space as noted on the attached Exhibit A, located at 1104 Lions Park Drive, Elk River MN 55330, (the "Premises"). In consideration of the mutual promises of the parties herein and upon the terms, provisions, and conditions following: 1. LEASE TERM. The term of this Lease shall be one (1) year commencing on the 1,t day of March, 2002, t° and including the 28th day of February, 2003. If not terminated at the end of the initial lease term as hereinafter provided, this Lease shall automatically renew for successive one-year terms. If either party wishes to terminate the Lease at the end of the initial lease term or thereafter, written notice must be given 30 days prior to the end of the Lease term. 2. RENT. Tenant shall pay as rent for the Premises the sum of Two Hundred dollars ($200.00) each month due on the first day of each month beginning on February 1, 2002, said rental shall be paid at all times in advance for the month, with interest on all delinquent rental at the maximum lawful rate allowed under the law of Minnesota from date due, and all sums shall be payable to the Landlord at 13065 Orono Parkway, Elk River, MN, 55330. In the event Tenant has not paid the monthly rent by the fifteenth day of the month an additional late fee of $25.00 shall be due. Landlord shall have the right to increase the amount of monthly rent at the beginning of each renewal term by giving Tenant written notice of the increased rent at least 60 days prior to the end of the then current Lease term. 3. USE. Tenant shall use the Premises for office and administrative purposes only and shall not permit the Premises to be occupied for any purposes or permit any act which shall invalidate any policy of insurance on the Premises or increase the fire hazard; and shall bring into or remove from the building by way of the rear entrance, all furniture, equipment, appliances, and fixtures.