02-08-21-R - Laserfiche WebLink

Home Browse Search

1 PARKING LICENSE AGREEMENT THIS PARKING LICENSE AGREEMENT (this “Agreement”) is dated as of ____________, 2021 (the “Effective Date”), between BETHEL UNIVERSITY, a Minnesota nonprofit corporation (“Licensor”), and BOLDT COMPANY, a Wisconsin corporation (“Licensee”). RECITALS A. Licensor is the owner of certain real property located at 2 Pine Tree Drive, Arden Hills, Minnesota (the “Property”), where Licensor maintains a parking lot for its use. B. Licensee intends to build a senior residence building on real property it is purchasing from BETHEL UNIVERSITY, which property lies adjacent to BETHEL UNIVERSITY’S property at 2 Pine Tree Drive in Arden Hills, Minnesota. C. Licensor wishes to grant to Licensee an exclusive license to use a specific portion of the parking lot on Licensor’s Property, [which area will be defined after the senior building has been built] as described on Exhibit A attached hereto, (the “License Area”) as an overflow visitor parking lot, for use on weekends and holidays, for vehicular parking purposes, on the terms and conditions set forth in this Agreement. NOW, THEREFORE, Licensor and Licensee agree as follows: 1. License. Licensor hereby grants to Licensee an exclusive license to use the License Area of the parking lot (to be designated when the senior building is built) for up to 25 cars, on weekends and holidays, for use by visitors, and not for use by residents of the building or by Licensee’s employees, contractors or other person (the “License”). 2. Use. Licensee’s use of the parking lot shall be subject to such rules and regulations as may be promulgated by Licensor from time to time. Licensee shall use the parking lot only for the parking of standard passenger vehicles, and for no other purposes. Licensee’s use of the parking lot shall at all times conform to all applicable laws, ordinances, regulations and codes. 3. Term. The License created hereby shall be of indefinite duration but it may be terminated by the Licensor upon ninety (90) days written notice to Licensee. 4. License Fee. As consideration for this Agreement and the License granted hereby, Licensee shall by a fee to Licensor of two hundred fifty dollars ($250.00) per month (the “License Fee”), payable quarterly in advance for so long as this Agreement is in effect. The Licensee Fee may be adjusted by the Licensor in its sole discretion from time-to-time upon ninety (90) days written notice to Licensee. 5. Rights Reserved By Licensor. Licensor reserves all rights with respect to the License Area, not specifically and exclusively granted to Licensee under this Agreement, including, without limitation, the right to: (a) Tow away, or otherwise impound, at the vehicle owner’s sole cost and expense, any vehicle (i) improperly parked on the License Area or parked outside of the License Area on the Property; (ii) parked in a "no parking" zone; or (iii) parked in violation of any state or local law; $WWDFKPHQW%