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Th, <br />W00�$ <br />ACd emy <br />July 31, 1984 <br />Board of Directors <br />Orono School District <br />Orono, Minnesota <br />Dear Board Members: <br />Please accept the following proposal as a Letter of Intent to <br />enter into a Lease Agreement with exclusive option to purchase the <br />Maple Plain Elementary School,, Maple Plain, Minneosta. <br />TENANT/BUYER: <br />Woods Academy, Inc., a Non -Profit Minnesota Corporation <br />LANDLORD/SELLER: <br />Orono School District <br />PROPERTY LOCATION AND DESCRITION: <br />The property is located on Howard Avenue, Maple Plain, Minnesota, <br />consisting of approximately 12 acres of land improved with a <br />40,321 sq. ft. single story elementary school building including <br />all improvements, equipment 4nd fixtures now located on the <br />property, all subject to an exact legal description. <br />LEASE_ TERM t <br />Ave year lease term commencing August 1, 1985, and terminating <br />July 31, 1990. <br />POSSESSION DATE: <br />Possession of tie property shall he May 1, 1985, subject to all <br />the terms and conditions as listed below. <br />BASE RENTAL/CONSIDERATION: <br />In cons deration of the delayed lease commencement date of August <br />1, 1985, and early possession date of May 1, 1985, Tenant agrees <br />to pay landlord a total consideration of $8000.00 in two payment <br />of $4000.00 each due and payable on February 1, 1985, and May 1, <br />1985. <br />�'?C�M�(iry Ri Mnelor�aNNS',.343 i6l2►938 t722 <br />