10.07 - Pequot Lakes Historical Society Lease of Cole Bldg

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Lessor of combinations on any locks and safes on the Premises. In no event shall the Lessee be deemed to have abandoned the Premises or this Lease during the terms hereof unless the Lessee first obtains the express written permission of Lessor. The provisions of this section shall survive the termination of the Lease. 13. Holdover. In the event that Lessee continues to occupy the Premises after the expiration of the term of this Lease or any renewal thereof, or having not given notice that it intends to exercise any renewal option, nevertheless continues to occupy the Premises after the expiration of the then current term, then such occupancy shall create a month-to-month tenancy at will only, and shall in no event be deemed a renewal of this Lease, and either party may terminate said month-to-month tenancy at will upon notice to the other party in accordance with the laws of the State of Minnesota. During such month-to-month tenancy at will; Lessee shall pay as rental for the Premises the same sum per month as it paid during the last preceding tenancy, and said month-to-month tenancy at will shall be governed by all of the conditions, provisions and obligation of this Lease insofar as they can be applicable to a month-to-month tenancy at will. 14. Eminent Domain. If the whole or any part of the leased Premises shall be taken by any public authority under the power of eminent domain, or is sold to any entity having the power of eminent domain under threat of condemnation, then the term of this Lease shall cease on the party so taken from the date possession shall be required for any public purpose, and the rent shall be paid up to that day. If a portion of the Premises is taken by eminent domain. Lessor shall have the right to terminate this Lease by giving written notice thereof to Lessee within ninety (90) days after the date of taking. If a portion of the Premises is taken by eminent domain, and this Lease is not thereafter terminated, Lessee shall continue in the possession of the remainder of the Premises under the terms herein provided, in which case the annual rent payable hereunder shall be equal to the portion that the remaining area of the Premises bears to the area of the Premises prior to the date of taking. Provided, however, that in the event a portion of the Premises is taken by eminent domain and this Lease is not thereafter terminated, Lessor shall at its own expense, restore the Premises, exclusive of any improvements or other changes made to the Premises by the Lessee, to as near the condition which existed immediately prior to the date of taking as reasonably possible, and rent shall abate during such period of time as the Premises are untenable, in proportion that the untenable portion of the Premises bears on the entire remaining Premises. Lessee shall have the right to claim against the condemning authority for the value of its leasehold estate, leasehold improvements, fixtures and moving expenses, if any. 15. Fire or Other Casualty. If the Premises are completely destroyed by fire or other casualty, the Lessee shall have the right to terminate this Lease, provided the Lessee provides written notice thereof to the Lessor within ninety (90) days after such destruction. If a portion of the Premises is damaged by fire or other casualty and this Lease is not thereafter terminated, the Lessor shall, at its expense, restore the Premises, exclusive of any improvements or other changes made to the Premises by the Leasee, to as near the condition which existed immediately prior to such damage or destruction as reasonably possible, and rent shall abate during such period of time as the Premises are untenable in the proportion that the untenable portion of the Premises bears to the entire Premises. The Lessor shall not be responsible to the Lessee for 4