e. Lease of property/Compson - Laserfiche WebLink

LEASE OF PROPERTY THIS LEASE is made by and between Cass County, North Dakota (hereinafter "County") and Terry and Kay Compson, 4830 174th Ave SE, Horace, ND 58047 (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 Stanley, County of Cass, State of North Dakota, described as: 18-138-48 Described Tract: That part of the unplatted part of Government Lots 4 & 5 in E½ of Section 18-138-48 bounded on east by the west boundary of Lots 61, 62, 63, and 64, Forest River Subdivision, on the south by the north shore of the Red River, on the north by south boundary of Forest River Drive, 770 feet west of the northwest corner of Lot 64, to a point on the Red River shore 770 feet west of southwest boundary of Lot 61, except that part of Government Lots 4 & 5 described as follows: A strip of land 50 feet wide west of and adjoining to Lots 62, 63 and 64, Forest River Subdivision, bounded on the north by south boundary of Forest River Drive and bounded on the south by the south line of Lot 62, Forest River Subdivision, extended westerly 10.4 acres of Section 23-143- 49 described tract south 496.92 feet of Auditor's Lot 1 ofNW¼ of NW¼, also known as Tract B. Said tract contains 9.79 acres more or less (hereinafter "property"). ° Term: The term of this lease shall commence on January 1, 2004, and expire at midnight on December 31, 2004. The terms and conditions of this lease shall automatically renew each year unless either party terminates the lease by August 1 st of the year. o Rent: Rent shall be Three Hundred Fifty Dollars ($350.00) per year, payable on April 1, 2004, to the County by and through the Cass County Auditor at the address given in the section herein entitled Notices. 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. o Insurance: At all times during the term of this Lease, Lessee shall 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. Page 1 of 4