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<br />,~ ~ <br /> <br /> <br />PARKING AGREEMENT <br /> <br /> <br />. This Agreement is made this day of , 1992, <br />by and among Peter Ngo and Ich Hoang (collectively, the "Lan(i1ord") <br />and Theodore S. Brausen (the "Tenant"). <br /> <br />RECITALS <br /> <br />1. Landlord is the owner of the real property in Ramsey <br />County, Minnesota, located at 1310 West County Road E in the city <br />of' Arden Hills, Minnesota, containing the Great Lake Restaurant, <br />and shown on Exhibit A attached hereto (the "Restaurant Property") . <br /> <br />2. Tenant is the owner of the Amoco filling station located <br />at 1306 West County Road E, Arden Hills, Minnesota, immediately <br />adjacent to the Restaurant Property on the north (the "Amoco <br />Property") . <br /> <br />3. Landlord and Tenant would like to memorialize their <br />agreement regarding the leasing of twenty (20) parking spaces on <br />the Restaurant Property. <br /> <br />NOW, THEREFORE, in consideration of the mutual promises set <br />forth herein and other good and valuable consideration, the parties <br />hereby agree as follows: <br /> <br />. 1. Lease of parkinq Space. Landlord hereby leases to Tenant <br />for the term and upon the conditions herein provided, the twenty <br />(20) open-air, surface parking spaces shown cross-hatched on the <br />attached Exhibit A (the "Parking Area"). <br /> <br />2. Rental. Tenant agrees to pay Landlord as rent, in <br />advance, on or before the first day of each month during the term <br />of this Lease, without demand, $150.00, commencing August 1, 1992. <br /> <br />3. Access to Parkinq Area. Tenant, its agents, employees <br />and licensee shall have the right to use the accesses and private <br />driveways on the Restaurant Property for vehicle and pedestrian <br />access to and from the Parking Area. <br /> <br />4. Term. The term of this Agreement shall commence August <br />1, 1992 and shall terminate July 31, 1994. Upon expiration of the <br />term, this Agreement shall continue on a month-to-month basis, and <br />either party may thereafter terminate this Agreement upon thirty <br />(30) days' written notice. <br /> <br />5. Use of parkinq Spaces. Tenant agrees to use the Parking <br />Area solely for parking for employees and for cars being serviced <br />at the Amoco station located on the Amoco Property. Tenant agrees <br />not to use or occupy any portion of the parking area for any <br />unlawful purpose. <br /> <br />. 6. Insurance. Tenant agrees to maintain liability insurance <br />covering its activities in the Parking Area in the amount of at <br />least $500,000 combined single limit coverage. <br />