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<br /> ~t,,, lH:l"tltK~U,' tKA\! tltK(j:IL-\.' : C-15-ttb :U:J1W.\I ;l"tltK~m tK.-\.~ tltKu.\L-\~ bl" bJJ (CJtt;~ Jf b <br />I' - <br />~- LEASE AGREBMEIifT <br /> 1.0 Parties. This Agreement is dated the day of <br />I , 1996, and is entered into by and <br /> between the City of Arden Hills, a Minnesota municipal <br /> corporation ( .C1t:y" ) and the Arden Hills Association, a <br />I Minnesota non-profit corporation herein ("ASsociation"). <br /> 2.0 Recitals. <br />I A. The City is the fee owner of the following described <br /> property situated in Ramsey County, Minnesota to-wit: <br />1 Lot 3, Block 8, Arden Hills NO.3, except that <br /> part described as follows; Beginning at the <br /> Northeast corner of said Lot 3; thence West <br /> along the North line of said Lot 3 for 300 <br />1 feet; thence South at right angles for 300 <br /> feet; thence East parallel to the North line <br /> of said Lot 3 for 270 feet, more or less, to <br />1 the East line of said Lot 3' thence North <br /> , <br /> along the East line of said Lot 3 to the point <br /> of beginning (herein the .Subject. Propert.y"). <br />I B. The City does not have a short term use for the property. <br /> C. The Association wishes to lease a portion of the Subject <br />.. Property for a tennis court and related facilities. <br /> D. The City ~s willing to allow an interim Use of the <br /> Subject Property pursuant to the terms of this Lease <br />I Agreement. <br /> 3.0 Terms and Conditions. NOW, THEREFORE, in consideration of the <br />1 mutual undertakings herein expressed, the City and Association <br /> agree as follows: <br /> A. PrODertv Subiect to Lease. The City hereby leases to the <br />I Association that portion of the Subject Property <br /> described on Exhibit A attached hereto, subject to any <br /> and all existing easements. <br />I 1. Tennis Court Area. (Legal to be included.) <br /> 2. Access Area. (Legal to be inclUded.) <br />I B. Rent. As consideration for this Lease, the Association <br /> shall pay the City annual rent in the amount of $ <br />I 1 . In addition, the Association shall pay the <br /> City any taxes or payments in lieu of taxes required as <br /> a result of this Lease including any such taxes payable <br /> the year following the termination of this LeaSe if such <br />1 tax payments cannot be abated. <br />~ <br />I <br /> , _n._ <br />