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2000_0522_packet
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2000_0522_packet
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Roseville City Council
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Council Agenda/Packets
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4. Utilities and Other Expenses: 0perating and utility costs are included and are <br />part of the rent costs mentioned m Section 3. <br />5. Renewal Options: If Lessee desires to renew this Lease Agreement for an <br />additional term, Lessee sha11 give written notice to Lessor of Lessee's desire to <br />renew: <br />A. Not less than ninety (90) days pric.r to the expiration of the current lease and <br />B. In accordance with the provisions of paragraph 20 (E). <br />Lessor may respond to this notice of desire to renew the lease in one of the <br />followmg manners: <br />A. By offering to agree to a new lease with the same provisions, except the <br />rental rate which shall be increased by the larger of: <br />(1) The change in the Consumer Price Index (CPI-Ln, as established by <br />the U S Department of Labor, Bureau of Labor Statistics for the <br />Minneap olis-St. Paul area as measured from January of t�ie year in <br />which the lease begins to January of the year in which the lease <br />ends, or; <br />(2) 5% of the current rental rate. <br />B. By requiring a renegotiation of the lease agreement, or, <br />C. By refusing to re-lease the premises. <br />Lessor sha11 noti� Lessee of its' decision in this matter within thirty (30) calendar <br />days of receipt o Lessee's written notice of desire to renew. <br />Should Lessor choose to require negotiation of a new lease, the current lease sha11 <br />expire on its designated expiration date and Lessee sha11 vacate the premises at the <br />end of the lease, unless a new lease is fully executed prior to the expiration of the <br />current lease. <br />6. Termination: <br />A. If this Lease is terminated early under any provision of this lease agreement, <br />and Lessee has aid rent for any time beyond the date of early termination, <br />Lessor sha11 re�und such overpayment to Lessee. <br />B. Either party sha11 have the right to terminate this lease with or without cause <br />upon giving not less than sixty. (60) day s written notice of termination to the <br />other, i. e. said lease shall tcrminat� � at the end of the second full month <br />following the month in which said notice is given. <br />In the event of such termination, Lessee sha11 have no further obligation to <br />make further rental pa�ments, except as to such unpaid tents as accrue or <br />accrued during Lessee s occupancy of the premises. <br />Page 2 of 13 <br />
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