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EOUIPMENT LEASE AGREEMENT <br /> THIS EQUIPMENT LEASE AGREEMENT, dated February 1, 2012, is between <br /> CENTERVILLE LIONS CLUB, having its principal place of business at 7260 Unity Avenue, <br /> Centerville, Minnesota 55038, referred to as Lessor, and the CITY OF CENTERVILLE, a <br /> Minnesota municipal corporation, 1880 Main Street, Centerville, MN 55038, referred to as <br /> Lessee. <br /> Lessor and Lessee agree to the terms and conditions set forth below: <br /> SECTION ONE <br /> LEASE <br /> Lessor leases to Lessee and Lessee leases from Lessor one Concession Trailer, and <br /> personal property and equipment associated with that Trailer. <br /> SECTION TWO <br /> TERM <br /> The term of this Agreement shall be for a term expiring on August 31, 2012, unless <br /> earlier the Equipment is returned to Lessor, in which case the lease shall terminate upon the date <br /> of return. <br /> SECTION THREE <br /> RENT <br /> As rent for the Equipment, Lessee agrees to pay Lessor the sum of twenty five (25) <br /> percent of the net profits of concession sales at the LaMotte Park ball fields. <br /> SECTION FOUR <br /> DELIVERY OF EQUIPMENT <br /> A. Lessee acknowledges (1) that the Equipment leased is currently owned by Lessor <br /> and is situated at 7087 20 Avenue. Lessee shall be responsible to move the Equipment from the <br /> current location to LaMotte Park and to return it to the current location at the end of the lease <br /> period. <br /> SECTION FIVE <br /> LICENSING <br /> Lessee agrees to obtain and maintain, at its sole cost and expense, such food operator <br /> licensing as is required by law. Licensing of the Equipment (trailer), if required, shall be paid by <br /> Lessor. <br /> 1 <br /> 110 <br />