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<br /> ----------- ----- ."----J::-- <br /> .~ I <br /> LEASE AGREEMENT I <br /> 1.0 Parties. This Agreement is dated the day of -- <br /> , 1996, and is entered into by and <br /> between the City of Arden Hills, a Minnesota municipal <br /> corporation ("City") and the Arden Hills Association, a <br /> Minnesota non-profit corporation herein ("Association") . I <br /> 2.0 Recitals. <br /> A. The City is the fee owner of the following described I <br /> property situated in Ramsey County, Minnesota to-wit: <br /> Lot 3, Block 8, Arden Hills No. 3, except that I <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 I <br /> 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 I <br /> the East line of said Lot 3; thence North <br /> along the East line of said Lot 3 to the point <br /> of beginning (herein the "Subject Property"). I <br /> 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 is willing to allow an interim use of the I <br /> Subject Property pursuant to the terms of this Lease <br /> Agreement. <br /> 3.0 Terms and Conditions. NOW, THEREFORE, in consideration of the I <br /> mutual undertakings herein expressed, the City and Association <br /> agree as follows: <br /> A. Property Subiect to Lease. The City hereby leases to the I <br /> Association that portion of the Subject Property <br /> described on Exhibit A attached hereto, subject to any I <br /> and all existing easements. <br /> 1. Tennis Court Area. (Legal to be included.) <br /> 2. Access Area. (Legal to be included.) I <br /> B. Rent. As consideration for this Lease, the Association I <br /> shall pay the City rent in the amount of $10.00 per year. <br /> The first payment shall be due upon .the execution of this <br /> Agreement and subsequent rental payments shall be due on I <br /> the anniversary date of the Agreement. In addition, the <br /> Association shall pay the City any taxes or payments in <br /> lieu of taxes required as a result of this Lease -. <br /> including any such taxes payable the year following the <br /> I <br /> ----- <br />