e. Flood buyout-Highland Park - Laserfiche WebLink

LEASE OF PROPERTY THIS LEASE is made by and between Cass County, North Dakota (hereinafter "County") and Highland Park Association, 1520 64th Ave. N. Fargo ND 58102 (hereinafter "Lessee"). THE PARTIES HEREBY COVENANT AND AGREE AS FOLLOWS: Property: The County hereby offers to lease, and the Lessee agrees to lease, the property situated in the Township of Reed, County of Cass, State of North Dakota, described as: Highland Park Lot 71 & West ½ of Lot 70 Block 6 (hereinafter "property"). Term: The term of this lease shall commence on July 1, 2002 and expire at midnight on December 31, 2002. The terms and conditions of this Lease shall automatically renew unless either party serves the other party, with written notice of non-renewal within sixty (60) days prior to the lease expiration date. [Either party may terminate this Lease upon 30 days written notice to the other party for any reason.l Rent: In consideration for the lease of the property, the Lessee agrees to forego any assessments for streets, mowing, water, or other charges, either currently assessed or assessed while the lease is in effect. Use: The property shall only be used for purposes consistent with those contained in Exhibit 1 (attached). Furthermore, the property shall not be used for, among other purposes, parking vehicles; building any kind of structure without prior written approval of the County; storage of any kind of equipment or personal property; placement of any signs; raising or keeping of animals; or disposal of any kind of materials, whether hazardous or not. The determination of compliance with these limitations on use of the property shall be at the County's sole discretion. Delivery of Possession: Lessee acknowledges that Lessee has inspected the property and accepts it as suitable for the purpose and use described in this Lease and that the property then complies with the use limitations. Insurance: At all times during the term of this Lease, Lessee shalI maintain at Lessee's sole expense, public liability and property damage liability insurance in an amount not less than $500,000. Lessee shall deliver to County a copy of the certificate of insurance prior to the commencement, and renewal if applicable, of this Lease. County makes no representation that the limits of liability specified herein are adequate to protect Lessee. Indemnification: County shall not be liable for any damage to Lessee, or any other person, or to any property, occurring on the premises or any part thereof, unless such damage is the proximate result of the negligence of an unlawful act of the County. Lessee agrees to hold the County harmless from any claims for damages occurr/ng on the property, no matter how caused, except for injury damages for which County is legally responsible. Page 1 of 4