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<br />--' <br /> <br />"';:... <br /> <br />, < <br />~. <br /> <br />;--. <br /> <br />,-.., <br />~...J <br /> <br />1....... <br /> <br />the Property as illustrated on the Approved Site Plan and/or the <br />Water Tower plan illustrated on Exhibit "C" attached. <br /> <br />3. Terut. The term of this Lease shall be :five (5) years, <br />starting Orlthe CoI1lmenceinent Date and terminating at midnight on <br />the fifth annual anniversary of the Commencement_ Date. Except as <br />hereinafter-provided, Tenant shall have the right to-extend-thLs- <br />-Lease for four (4) additional five (5) year terms.subject to-all <br />of the tern'1s and conditions of this' Lease-. This Lease shall <br />automatically be renewed for each successive renewal term unless <br />Tenant notifies Landlord of Tenant's intention not to renew the <br />LeaSe at- l.east thirty (30) days prior to the expiration of_ the <br />ini i:ial term or any renewal term; or, unles's, . dll!ring the third <br />renewal term or any succeSSive renewal ~8~ thereafter; Landlord <br />notifies Tenant, .a~ least thirty (30') days -prior to the end of <br />such term, of L<lncUord's intent to terminate this Lease at the <br />end of such term. <br /> <br />~ <br /> <br />".Ib" <br /> <br />. 4. Ren"t. <br /> <br />r', <br />\_", <br /> <br />c. <br /> <br />COO lEi <br /> <br />a. <br /> <br />Upon the Commencement Date, Tenant shall pay Landlord <br />as base rent the stun of S60'0'.O'O' per month. Tenant <br />shall also pay as addi'l::ional rent the sum of $25.0'0' per <br />month for each microwave antenna that tenant may, in <br />the future, install on the Water TGWer up to a maximum <br />of two (2) nd=owave antenna. Both the base rent and <br />the additional rent shall hereinafter be referred to as <br />"Rent". If the Commenoement Date oocurs at a time <br />o.ther than on the first day of the month, Kent shall be <br />pro rated as of the Commencement Date through the end <br />of the month in which the Commenoement Date occurs. In <br />all other cases, Rent shall. be payable on ~he first day <br />of each month in advance to the Ci.ty of Arden Hills at <br />1450' West Highway 96, Arden Hins, Minnesota. <br /> <br />b. <br /> <br />On eaoh annual anniversary of the Commencement Date of <br />the term of this Lease, the rent payable by Tenant <br />shall he increased baaed upon the ino~ea5e in the cost <br />of liVing index (CPr) du-r-ing the p-r-evious year; but, in <br />no event, shall the annual adjustments required hereby <br />be greater - than an amount egual to four pe-r-cent (4%) of <br />the previous years' rent. The 61Ilount of the adjustment <br />shall. be determined by using the U.S-. Department of <br />T..abor, Bureau of Labor Statistios, .Consumer Price <br />Index, MinneapOliS-St. Paul, for all urban consumers. <br />(elP-U) The cost of living adjustment provided ror <br />herein shall be compounded for the _ f-iv.e (5) year <br />period. Rental adjustmeI:lts in accordance with t:his <br />paragraph <1 shall take place at the cOmrllencement of <br />every five (5) year renewal term. <br /> <br />2 <br /> <br />SNM-SSa1aHIM RVlrr~NI3 <br /> <br />tL66 09S S.t XVd .t:60 9oo./e./to <br />