12-19-2019
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LEASE AGREEMENT City of Fargo/Metro Flood Diversion Authority <br />THIS AGREEMENT is made and entered into effective the 1st day of January, 2020, by and between CITY OF FARGO, a North Dakota municipal corporation (hereinafter called "Lessor" or "City") and Metro Flood Diversion Authority, a political subdivision created by joint powers agreement dated as of June 1, 2016, as the same was preceded by a limited joint powers agreement and as the same may have been amended, (hereinafter called "Lessee" or <br />“DIVERSION AUTHORITY”). <br />RECITALS: <br />A. City is the owner of real property and a building located on City-owned property <br />commonly referred to as the Civic Memorial Auditorium, the second floor of which building is configured as office space. City desires to lease approximately 2880 square feet, not including common area, on the second floor of the building to DIVERSION AUTHORITY. The square footage will hereinafter be referred to as the "subject property," "premises" or "demised premises." <br />B. Lessee desires to lease the subject property for use as offices. <br />C. Lessor desires to lease the space to Lessee for that use. <br />NOW, THEREFORE, in consideration of the mutual covenants, promises and agreements herein contained, the parties agree as follows: <br />ARTICLE I Premises and Terms <br />Section 1.1. Leased Premises. <br />Lessor does hereby lease unto Lessee the following premises: <br />Two Thousand Eight Hundred Eighty square feet (2880 s.f.) of space on the second floor of the Civic Memorial Auditorium building located in the 200 block of 4th Street North, in Fargo, North Dakota. A copy of the floor plan outlining DIVERSION AUTHORITY’s leased space, denoted as “Suite A”, is attached to this agreement as <br />Exhibit “A” and is incorporated by reference hereto. <br />Section 1.2. Use of Premises. <br />The premises shall be used and occupied by DIVERSION AUTHORITY as office spaces <br />and for related purposes. DRAFTItem 9e.
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