09-18-07 PTRC - Laserfiche WebLink

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LEASE AGREEMENT 1.0 Parties. This agreement is dated the TI day of Apr I 2007, and is entered into by and between the City of Arden Hills, a Minnesota municipal corporation ("City") and the Arden Hills 111 Association, a Minnesota non-profit corporation herein ("Association"). 2.0 Recitals. A. The City is the fee owner of the following described property situated in Ramsey County, Minnesota to-wit: Lot 3, Block 8, Arden Hills No. 3, except that part described as follows: Beginning at the Northeast corner of said Lot 3; thence West along the North line of said Lot 3 for 300 feet; thence South at right angles for 300 feet; thence East parallel to the North line of said Lot 3 for 270 feet, more or less, to the Ease line of said Lot 3; thence North along the East line of said Lot 3 to the point of beginning (herein the"Property"). B. A portion of the Property is occupied-by a tennis court and fencing; and by an access to the tennis court area all is highlighted on Exhibit A attached and incorporated ("Premises"). C. The Association wishes to lease the Premises from the City- D. Pending its review of the City's park plan and park programs, the City is willing to Lease the Pre' ises.to the Association. 3.0 Terms and Conditions_ NOW THEREFORE, in consideration of the mutual undertakings herein expressed, the City and Association agree as follows: A. Premises. The City hereby leases to the Association and the Association Leases from the City the Premises as illustrated on Exhibit A. B. Rent. The Association shall pay the City /Q. 0 dollars upon execution of this Lease by the parties. C_ Term. This Lease shall commence on the date upon which is executed by the parties and shall continue until the 31si" day of T)e 1e 5 e,r .2007. City of Arden Hills CONTRACT NO. -ARLN MLS 07-06