Ground lease/sub lease - Laserfiche WebLink

Home Browse Search

, .JAN-22-1997 13: 15 ORONO ISD U278 w 1 4a �� F'.L11.'[h5 To From 9 tornpany compony Location Location r)(41:11.[merge Fax!) 7t31ephona tt .. Fax# Telephone Comments Dildo! DisposRion: De:Ray ❑Return Call tar pickup .,... ,. GROUND SUBLEASE THIS GROUND SUBLEASE made as of this 15th day of April, 1994 by and between the City of Orono, a Minnesota municipal corporation ("Sublessor") and Orono Baseball/Softball Association, a Minnesota nonprofit corporation ("Subtenant"). WITNESSETH: WHEREAS, Sublessor is the Tenant under that certain Ground Lease dated as of April , 1994 between Independent School restrict No. 278, a Minnesota independent school district and political subdivision under the laws of Minnesota ("Lessor") as Lessor and Sublessor, a copy of which is attached hereto as Exhibit "A" (the "Ground Lease"); and WHEREAS, pursuant to the Ground Lease Lessor has leased to Sublessor that certain real property located in the City of Orono, Hennepin County, Minnesota as described in the Ground Lease (the "Leased Premises"); and WHEREAS, Sublessor desires to sublet to Subtenant, and Subtenant desires to accept from Sublessor the Leased Premises in accordance with the provisions thereof. NOW, THEREFORE, in consideration of the premises the parties hereto agree as follows: i. Sublease of Leased Premises. Sublessor hereby leases to Subtenant and Subtenant hereby accepts from Sublessor the Leased Premises in accordance with the provisions hereof. 2. Lease Term. The term of this Lease shall commence on the date hereof and, unless earlier terminated as provided herein, shall terminate on March 15, 2014. 3. Rent3L1. In consideration of the Leased Premises, Subtenant shall pay to Sublessor the rent set forth in Section 4 of the Ground Lease. 4. Obligations d Rights Ung Ground Lem This Sublease is subject to the provisions of the Ground Lease which, except to the extent modified by this Sublease, are hereby incorporated herein to the effect that Sublessor hereunder shall have all rights and remedies of the Lessor under the Ground Lease. and Subtenant hereunder shall have all rights, remedies and obligations of the Tenant under the Ground Lease, provided, however, that the obligations of Sublessor hereunder shall be subject to the performance of the obligations of Lessor under the Sublease. Subtenant hereunder hereby assumes all obligations of the Tenant under the Ground Lease and agrees to indemnify and hold Sublessor hereunder and the Lessor under the Ground Lease harmless from and against any loss or liability that may arise as a result of any failure by Subtenant to perform such obligations. Subtenant agrees that the provisions for the benefit of the Lessor under the Ground Lease shall also apply in this Ground Sublease for the benefit of the Lessor of the Ground Lease. This Ground Sublease if 44422038!43 422194