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F
<br /> COMMERCIAL LEASE
<br /> This Lease Agreement (hereinafter called"Lease"), made as of the IA Y-day of
<br /> 2005, by and between;Brainerd Lakes Area Chambers of Commerce, a
<br /> Minnes to non-profit corporation(hereinafter designated and referred to as "Lessor"), PO Box
<br /> 356,Brainerd, MN, 56401, and Smokey Hollow Fish Company, Inc., a Minnesota Corporation
<br /> (hereinafter designated and referred to as"Lessee").
<br /> WITNESSETH: That said Lessor in consideration of the rents and covenants hereinafter
<br /> mentioned,to be paid and performed by said Lessee, does hereby demise, lease and let unto the
<br /> said Lessee, and the said Lessee does hereby hire and take from the said Lessor,the following
<br /> described real property and building(s) situated at 4292 Tower Square,Pequot Lakes, in the
<br /> County of Crow Wing, State of Minnesota, and legally described as follows: Lots 8,9, 10,and
<br /> 11,Block 2,except the west 70 feet of Lots 8, 9, 10, and 11,Block 2,Second Addition to
<br /> Cole's Plat of Pequot,Section 10,Township 136,Range 29.
<br /> A copy of the site plan for said property is attached as Exhibit A.
<br /> 1. TERM/RENT:
<br /> TO HAVE AND HOLD the above premises just as they are, without any liability or
<br /> obligation on the part of said Lessor of making any alterations, improvements or repairs of any
<br /> kind on or about said premises or the building or buildings of which they are a part, or the
<br /> equipment, fixtures,plumbing, appliances,or machinery in,upon or serving same, or the streets,
<br /> alleys, areas,area-ways or passages adjoining or appurtenant thereto, from and after the 1st day
<br /> of September,2005 through December 31,2009,with a first option for a subsequent five(5)
<br /> year term for the following purposes and for no other purposes, to wit: Commercial Retail
<br /> Operation, including wholesale marketing of food products. If either Lessor or Lessee desires to
<br /> exercise the options to renew this Lease, Lessor or Lessee shall notify the other party, by giving
<br /> 90 days notice, prior to the end of the lease term of that party's desire to continue.
<br /> Lessee covenants and agrees to pay to Lessor at Lessor's address of P.O. Box 356,
<br /> Brainerd,MN, 56401,rent in advance, on the first day of each month according to the following
<br /> schedule:
<br /> 2005 -$490.00 per month;
<br /> 2006-$524.00 per month;
<br /> 2007 - $561.00 per month;
<br /> 2008 - $600.00 per month;
<br /> 2009- $642.00 per month;
<br /> Option:
<br /> 2010 - $687.00 per month;
<br /> 2011 - $735.00 per month;
<br /> 2012 -$786.00 per month;
<br /> 2013 -$841.00 per month;
<br /> 2014 - $900.00 per month;
<br /> 2015 - $963.00 per month.
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