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Temlnat Ion of Lease Septetiber il,l990* <br />Ji/i, <br />&«: Termination of lease dated August ISth 1989 between Martin i. Schnei'der <br />and Andrea E. Schneider ^LESSORS* and The Arc Center of Hinnesoca (currently <br />known as Che HinneConka Center for Che Arts) -TENANT-. <br />Address of leased property: 2180 N.Shore Drive, Orono, MN (Hill School/Center East). <br />The above referenced lease shall be effectively terminated between the above <br />listed lessors and tenant subject to the following terms and conditions being <br />fulfilled. - - - - - - - - - - - - <br />. - m _ - <br />1) The Ninneto <br />payments as <br />September I <br />October 1 <br />Hovember I <br />2) The Minnetonka Center for Che Arts shall assign or otherwise release, convey, <br />or pay the lessors-SCHNEIDER- the $S,0U0.00 performance bond which Is at <br />present being held by ch City of Orono. SCHNEIDER will, following assignment <br />of this bond, agree to perform the terms of the developers agreement between <br />The Art Center of Minnesota and the City of Orono with respect to the above <br />property relating to subdivision. <br />3) Tlie Minnetonka Center for the Arts’ undersigned representatives verify that <br />Che MCA board of direccors is aware and in agreemenc with this document. <br />4) The lifelong tennis court lease between Schneider and The Minnetonka Center <br />for the Arcs as stipulated in original purhase agreement remains in force. <br />5) No ocher provisions or sClpulacioits or side—agreements have been made to <br />terminate Che above reference lease. In ocher words, the above conditions <br />must be net. 1/iNprder to terminate the lease. <br />Martin B. Schneider <br />Lessor <br />Ann Larsen <br />Executive director <br />Minnetonka Center for Che Arts <br />Tenant <br />Bkirbara M^Harn^v CfBarbara McBurney <br />Board President <br />Minnetonka Center for Ch Arts <br />Tenant