CCP 04-27-1998 - Laserfiche WebLink

Home Browse Search

. / -,--- LEASE ADDENDUM . ADDENDUM to that certain lease dated the _ day of April 1998 {hereinafter "Lease"}. by and between: AMB Property, L.P.. a Delaware limited partnership (hereinafter "'Lessor"'). and the City of Arden Hills, Minnesota (hereinafter "LesseeW), for that certain premises located in the Round lake Business Center (hereinafter "'Premises"} located in the City of Arden Hills, Minnesota. WHEREAS, the parties desire to amend andlor add to the terms of the Lease. NOW, THEREFORE. the parties agree as follows: 1. ADDENDUM PREVAILS. The provisions of this Addendum shall be incorporated into the provisions of the lease as if fully set forth therein. Notwithstanding any provision in the Lease that may be inconsistent with or contradict any provision of this Addendum, the provisions of this Addendum shall prevail over any such provisions in the Lease. 2. TERM. The term of the Lease shall be for thirty-six (36) months commencing on May 1, 1998, and continuing until April 30, 2001. The Lessee shall, however, have the right to terminate the LeaSe effective as of April 30, 2000, by giving written notice of its intent to terminate this Lease at least one hundred twenty (120) days prior to such date. Such termination shall be without premium or penalty on the part of the Lessee and upon such termination Lessee shall have no further obligation for the payment of rent or additional rent under the Lease. 3. LESSEE'S SHARE; COMMON AREA CHARGES. "'Lessee's Share~ for purposes of the Lease shall be equal to a percentage calculated by dividing the feasible square footage of the Premises, which is 4.416 square feet, by the gross leaseable square footage of all space in the Industrial Center. . Lessee will be liable for administrative charges in maintaining the Common Areas only to the extent such administrative charges whether entitled administrative charge or management charge are not already included as "Operating Cost'" of maintaining Common Areas. 4. HEATING. VENTILATION. AND AIR CONDITIONING. Lessor warrants that the heating, ventilation and air conditioning systems shall be free from defect in material and workmanship for a period of one (11 year from the Commencement Date. Lessee shall maintain a quarterly preventative maintenance contract for the heating, ventilation and air conditioning system. In the event any of the heating, ventilation and air conditioning systems require replacement during the lease term, Landlord shall replace and pay for the system. The new system shall be deemed to have a ten-year useful life. which shall be amortized over the ten years together with 11 % interest, of which Lessee shall pay its pro-rata share on a monthly basis in addition to its base rent and operating expenses. 5. SPECIAL ASSESSMENTS. In the event that during the Lease Term any governmental entity makes any improvement and assesses any portion of the industrial Center therefor, Lessee shall be liable only for so much of its pro-rata share as the remainder of the Lease Term relates to the useful life of such improvement. In addition, if the special assessments may be paid in installments, Lessee shall have the option of paying its pro-rata share of the assessments in like installments. 6. CONSENT. .. ~. Lessor and Lessee covenant and agree that whenever, pursuant to the terms of this Lease, consent, satisfaction, determination or approval is required or permitted. of Lessor or Lessee, such covenant, satisfaction, determination or approval shall not be unreasonably withheld, made or delayed. 7. SECURITY DEPOSIT. . No security deposit shall be required of Lessee. S_IA,(DATAIAMBV?,."",t!aIR"..",fUIAGRF;E.li!fII<Ihil/smJQf,J<< .1.