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r\ <br />.. <br />GROUND LEASE AND RECREATIONAL FACILITY <br />COOPERATIVE ACRFKIMFNT <br />Tins AGREEMENT is made and executed on this day of June, 1996 by <br />and between Independent School District No. 278, Orono (‘'Lessor”), and Orono Ice <br />Arena, Inc. (‘‘Lessee”), a non-profit corporation organized and existing under the laws of <br />the State of Minnesota, having its principal place of business at 1025 Old Crystal Bay <br />Road North, Long Lake, County of Hennepin, State of Minnesota, <br />1. DESCRIPTION. DEMISE AND USE OF PREMISES <br />Lessor, in consideration of the rent and covenants hereinafter stated, leases to <br />Lessee and Lessee does hereby rent from the Lessor approximately 4.4 acres of real <br />property located at the southw est corner of Old Crystal Bay Road and Hennepin County <br />6, in the City of Long Lake, County of Hennepin, State of Minnesota, and more <br />particularly described in Exhibit A, w hich is attached hereto and made a part of this <br />Agreement. Lessee’s use of the land conveyed under this Agreement will be limited to <br />the construction, operation, maintenance, repair and replacement of an indoor ice arena <br />and adjacent parking lot. <br />2. CONTRIBUTION TO RECREATIONAL FACILITY <br />Lessor, in accordance with Minn. Stat. §§ 471.15-471.191 and in consideration of <br />the covenants hereinafter stated, grants to Lessee the sum of $175,000 for the operation of <br />the arena facility, to be delivered to Lessee not later than thirty (30) days after the <br />Commencement Date (as defined below).