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LEASE AGREEMENT <br />This LEASE AGREEMENT ("Lease") is made and effective as of the 1st day of <br />November, 2025, by and between the City of Orono ("Orono') and City of Long Lake ("Long <br />Lake"), each a Minnesota municipal corporation (collectively, "Landlord"), and Shoreline Fire <br />Department, a joint powers entity established under Minnesota law pursuant to that certain <br />Shoreline Fire Department Joint Powers Agreement dated of even date herewith ("Tenant"). <br />The Landlord and Tenant hereby agree as follows: <br />ARTICLE 1— LEASED PREMISES <br />A. Subject to the terms, covenants and conditions of this Lease, Landlord leases to <br />Tenant, and Tenant leases from Landlord, the real property consisting of land, building and <br />improvements located at 340 Willow Drive North, Orono, Minnesota 55356, legally described <br />Exhibit "A" (the "Leased Premises"). The Leased Premises includes the fixtures owned by Landlord <br />and identified on the attached Exhibit `B" ("Landlord Fixtures"). The Leased Premises does not <br />include any personal property owned by Landlord ("Landlord Personal Property"), and there is no <br />Landlord Personal Property located on the Leased Premises. <br />ARTICLE 2 — TERM OF LEASE; TERMINATION <br />A. Initial Term. The term of this Lease shall be for twenty (20) years as set forth on <br />the Reference Page (hereafter referred to as the "Initial Term") upon the rentals and subject to the <br />conditions set forth in this Lease, and the Exhibits attached hereto. <br />B. Renewal. This Lease shall automatically renew for successive terms of five (5) years <br />(each, a "Renewal Term"), on the same terms and conditions set forth in this Lease, except as set <br />forth below: <br />1. Either Tenant or Landlord may elect not to renew by providing written notice <br />to the other at least one (1) year prior to the expiration of the Initial Term or Renewal Term, <br />as applicable. The notice shall be given in the manner provided in Article 22 of this Lease. <br />2. Landlord shall have the right to increase the Rent for any Renewal Term by <br />providing Tenant with written notice at least one year and one month prior to the expiration <br />of the Initial Term or Renewal Term, as applicable. <br />3. In the case of an event as described at paragraph C.2 of this Article 2, the <br />Renewal Term of this Lease shall be one (1) year, rather than five (5) years. <br />1 <br />235577v14 <br />67 <br />