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IL.EASE AGREEMENT <br />(Concession Stand) <br />THIS LEASE AGREEMENT is made this day of , <br />199_, by and between the CITY OF ELK RIVER, a municipal corporation under the <br />laws of the State of Minnesota ("Lessor") and the ELK RIVER YOUTH HOCKEY <br />ASSOCIATION, anon-profit corporation under the laws of the State of Minnesota <br />("Lessee"). <br />In consideration of their respective promises herein contained, and of other good <br />and valuable consideration, the receipt of which each part hereby acknowledges, the <br />parties hereby agree with each other as follows: <br />1. Premises. Lessor does hereby Lease to Lessee a portion of an ice arena <br />located at 1000 School Street, in the City of Elk River, County of Sherburne, and State of <br />Minnesota (the "Ice Arena"). The Ice Arena is located on the real property legally <br />described on Exhibit A attached hereto. That portion of the Ice Arena being leased <br />hereunder is cross-hatched on the drawing attached hereto as Exhibit B (the "Leased <br />Premises"). <br />2. Term. The Lease term shall commence on January 1, 1997 and shall <br />continue through and until December 31, 2013, unless earlier terminated as herein <br />provided. <br />3. ~1 g. Lessee shall use and permit use of the Leased Premises for operation of <br />a concession stand at events being conducted in the Ice Arena. Lessee shall not damage <br />or deface any part of the Leased Premises or permit the same. <br />4. Rent. <br />(a) Lessee shall pay to Lessor at city Hall, or at such other place as Lessor <br />designates, during the term of this Lease, as Rent for the Leased Premises, <br />the following amounts: <br />Calendar Base <br />~~~ ~ <br />1997 $20,000 <br />1998 21,000 <br />1999 21,500 <br />2000 22,000 <br />2001 - 2013 22,000 <br />DXB 132736 <br />