10.03 Trailside Building Lease Agreement

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TRAILSIDE BUILDING LEASE AGREEMENT RESOLUTION 19- THIS LEASE AGREEMENT (the"Lease"or"Agreement")is made this 7�'of May,2019 by and between the City of Pequot Lakes, a Minnesota municipal corporation, (the"Landlord"), and the Brainerd Lakes Area Chambers of Commerce, a Minnesota.non-profit corporation, (the "TenanY'); (collectively the"Parties"). WHEREAS,the Landlord owns and operates the Trailside Building located at 30951 Government Drive, Pequot Lakes, Minnesota 56472 (the"Building"); and WHEREAS,the Tenant desires to lease the Building for the purpose of office space for Chamber operations and related visitor services; and WHEREAS,the Landlord is willing to lease the Building to Tenant upon the terms and , conditions contained herein. ', NOW,THEREFORE, in consideration of the terms and conditions of this Lease, Landlord and ' Tenant agree as follows: 1. Definitions. As used in this Lease,the following terms shall have the specific meanings set forth below: 1.1. "Landlord"means the City of Pequot La.kes,having as its address for notice purposes, 4638 Main Street,Pequot Lakes, Minnesota 56472; Attention: City Administrator. 1.2. "TenanY'means the Brainerd Lakes Area Chambers of Commerce,having as its address for notice purposes,P.O. Box 208, Pequot Lakes, Minnesota 56472. 1.3. "Commencement Date"means September 1, 2019. I 1.4. "Expiration Date"means August 31, 2024, or such mutually agreed up renewal date as provided in this Agreement. 1.5. "Premises"means the Trailside Building located at 30951 Government Drive, Pequot Lakes, Minnesota 56472. 2. Demisin�Clause. ' 2.1. Landlord leases to Tenant and Tenant leases from Landlord the Premises on the terms 'I and conditions contained in this Lease. I, 2.2. Tenant sha11 have the exclusive right to use the Premises for the purposes provided herein. 1