HomeMy WebLinkAboutResolution No. 042-17 - MillCreekLifeSciencesLeaseAmendment
RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City approve of
and execute the Second Amendment to the Mill Creek Life Sciences Lease at the Minnesota
BioBusiness Center.
The Mayor and City Clerk are authorized to execute this amendment on behalf of the City.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF ______________, 2017.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF _____________________, 2017.
__________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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SECOND AMENDMENT TO LEASE
THIS AGREEMENT is made this IZ� day of �n , 2017, between the City of
Rochester, a Minnesota municipal corporation (referred to as "Landlord"), and Mill Creek Life
Sciences, LLC., a Minnesota limited liability company ("Tenant").
WHEREAS, on February 23, 2011, the parties entered into a Lease for space on the 2nd
floor of Landlord's Minnesota BioBusiness Center ("Lease"); and,
WHEREAS, on December 24, 2014, the parties entered into an Amendment to Lease for
space on the 2nd floor of Landlord's Minnesota BioBusiness Center ("Lease"); and,
WHEREAS, the parties desire to amend the Lease changing the term.
NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements of the parties herein contained, the adequacy of which is hereby acknowledged, it is
agreed as follows:
1. Section 2 of the Lease's Data Sheet is amended to read as follows:
2. Term. The term of this Lease shall commence on the date of execution hereof
by the Landlord and the Tenant and continue for a period of seven years from the Rent
Commencement Date to May 31, 2018.
2. Section 4 of the Lease's Data Sheet is amended to read as follows:
4. Base Rental Rate/Rent Commencement Date. From December 1, 2014
through May 31, 2018 the annual Base Rental Rate ("Base Rate") shall be $67,072.00
(4,192 RSF at $16.00 per square foot). Tenant shall pay the monthly installments of
Base Rent, Additional Rent and all other amounts payable under the terms of this
Lease in advance on the first day of each month. Upon Tenant's election to extend this
Lease, the Base Rate shall be based upon $19.50 for 5,160 RSF with annual 3%
increases thereafter.
3, Except as changed, modified or altered by this Second Amendment to Lease, the
February 23, 2011 Lease, as amended by the December 24, 2014 Amendment to Lease, is
confirmed in all respects and shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment the day and
year first above written.
Landlord
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By By:
Its Mayor William Mirsch
Its CEO/President
Atte t:
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Its City derl
STATE OF MINNESOTA )
) SS
COUNTY OF OLMSTED )
The , foregoing instrument was acknowledged before me this F day of
V3 Ck , 2017, by Ardell F. Brede and Valori Langseth, the Mayor and Acting City
Clerk, respectively, of the City of Ro hest a in esota u#1cipal corporation on behalf of the
corporation.
Motaty Public
WA.JORDAN
STATE OF MINNESOTA ) NOTARY PU9L1C-MINNESO
TA
) SS My Comm.Exp.Jan.31,2019
COUNTY OF OLMSTED ) � �
On this V?d day of "L 4 y' ` , 2017, before me, a notary public within and for
said county personally appeared William Mirsch, the CEO and President of Mill Creek Life
Sciencies, LLC, a Minnesota limited liability company, personally known to me to be the person
described in and who executed the foregoing instrument and acknowledged that they executed
the same as their free act and deed on behalf of the company.
MARK C KOEHLER
s, NOTARY PUBLIC•MINNESOTA � �� ?�
c;=, My Comm,Op.Jan.31,2021
�.ur . .,, •.,,. tv Notary Public
2
1ER—o0cahestei
OVED AS TO FORM
nd 4EXEO
Attorney
ACKNOWLEDGEMENT OF CORPORATION
AUTHORIZED SIGNATURE
STATE OF MINNESOTA }
COUNTY OF Q\`(V\ . )
On this
day of _ Nv" ., , before me appeared
\ \ to me personally known, who, being by me
Name of Officer
duly sworn, did say that he/she Is the of
Title
Name of Corporation
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Address Clty & State ziSp -�Go d—
a corporation; and that said instrument was executed In behalf of said corporation by
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authority of its Board of Directors, and that said �
Name of Officer
acknowledged said instrument to be the free act and deed of said corporation.
NOTARIAL SEAL.
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NOTARY A Notary Public
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