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LEASE AGREEMENT BETWEEN CITY OF MOSCOW, IDAHO AND SPENCE HOLDINGS 1 - LLC THIS LEASE AGREEMENT BETWEEN CITY OF MOSCOW, IDAHO AND SPENCE HOLDINGS 1 - LLC (hereinafter "Agreement"), is made and entered into the 1st day of February, 2016, by and between City of Moscow, Idaho, a municipal corporation of the State ofldaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter "City"), and Spence Holdings 1 - LLC, an Idaho Limited Liability Company, 915 White Avenue, Moscow, Idaho, 83843 (hereinafter "Spence"); W I TN E S S E TH: Spence leases and rents to City, and City leases and rents from Spence, a portion of the premises located at 1401 South Blaine Street, Moscow, Idaho, 83843, in the County of Latah, as shown in Exhibit attached hereto, being more particularly described as follows: A portion, approximately 50' 'x 50', and access thereto of Lot 6, Block 1, Arrowhead Addition No. 1 to the City of Moscow, as shown by the recorded plat thereof. Terms: The term of this lease is for a period of one ( 1) year commencing from August 1, 2015 to July 31, 2016 under the following terms and conditions: Rent: Spence agrees to allow City to use the premises for the purposes stated herein. The rental amount shall be three hundred dollars ($300) per month, or a total of three thousand six hundred dollars ($3,600) per year which City may pay either or in one installment, at the City's sole discretion. Rent is payable in advance to Spence, on the 1st day of each calendar month unless paid in one installment; then due no later than August 1st each year Agreement is in place. Payments shall be made to Spence Holdings 1 - LLC, 915 White Avenue, Moscow, Idaho, 83843. Renewability: This Agreement may be renewed annually, upon agreement of the parties, for ten (10) years. Warranties: Spence warrants that the premises is in good working condition for the purposes contemplated in this Agreement. Termination: Either party may terminate this Agreement at any time for no cause, by giving the other party sixty (60) days' notice prior to termination. If Agreement is terminated prior to annual date and, if City has paid full rent in one installment, Spence is to refund City on a pro-rata basis. Maintenance, Alterations and Improvements: No alteration, additions or improvements shall be made to the leased premises by City without first obtaining consent of Spence. City will, at all times, keep the glass recycling bin and the rented area surrounding the bin in a clean, neat, and sanitary condition. LEASE AGREEMENT - SPENCE AND CITY (2016) PAGE 1 OF4 "2-0 \l..o - 0 0 I ---PAGE BREAK--- Security Of Premises: Spence will not maintain supervision or control over the glass recycling bin. During the term of this Agreement, the glass recycling bin and the rented area is under City's exclusive control and City must take any and all steps necessary to keep the bin and rented surrounding area safe, clean, and in compliance with any law, rule, regulation, or code. Spence shall not be responsible or liable, directly or indirectly, for loss or damage to the bin, no matter what the cause, including, without limitation, fire, explosion, theft, wind, or water damage. Entry By Spence: Spence shall have the right to enter the leased premises at any reasonable time to examine the same and determine the maintenance and state ofrepair. Use Of Prope1ty: City shall use the property for use, placement, maintenance and operation of a glass recycling bin to be used only for the intended purpose of glass recycling by the public. This Agreement includes the above-described premises and access to such premises and the glass recycling bin for the City, its contractors and agents, and the general public. Spence shall not restrict access at any time this Agreement is in effect, nor shall allow restriction of access at any time this Agreement is in effect. Access to such premises and the glass recycling bin shall be in accordance with the diagram attached to this Agreement and incorporated by this reference as if fully set out herein. City's use of the property shall not be changed without the consent of Spence. Quiet Enjoyment: Spence agrees that City, upon payment of rent required herein and its performance of its obligations described herein, may quietly have, hold and enjoy the Premises, including access, during the term hereof. CITY agrees that OPERATOR, upon paying any monetary sums due under this Agreement and performing the covenants and conditions of this Agreement and upon recognizing any subsequent purchaser as CITY, may quietly have, hold and enjoy the Premises during the term hereof; subject, however, to all restrictions and covenants contained or referred to in this Agreement. Hold Harmless: CITY agrees to defend and hold harmless Spence, and its agents and employees, from and against any and all claims, losses, actions, or judgments for damages or injury to persons or property arising out of or in connection with the acts and/or any performances or activities of CITY, CITY's agents, employees, or representatives under this Agreement including, but not limited to, any and all claims, losses, actions, or judgments for damage or injury to person or property arising out of or in connection with this agreement as permitted by law. Attorney Fees: If action is brought to enforce the terms or provisions of this Agreement, the prevailing party in such action shall be entitled to recover from the losing party reasonable attorney fees together with costs authorized by law. Service of Notices: Any notice may be served upon Spence by certified mail to Spence at Spence Holdings 1 - LLC, 915 White Avenue, Moscow, Idaho, 83843, and any notice may be served upon City by certified mail to Tim Davis at City of Moscow, P 0 Box 9203, Moscow, Idaho, 83843. Service of notice by certified mail shall be deemed to have been given at the time it is deposited in the United States mail. Either party may change the address for service of notice by written notice to the other party. LEASE AGREEMENT - SPENCE AND CITY (2016) PAGE20F4 ---PAGE BREAK--- Assignment and Subletting: City shall not assign this Agreement or any part thereof, and shall not let or sublet the whole or any portion of the leased space upon which the glass recycling bin is placed without Spence's prior written consent. DATED this pt day of February, 2016. CITY OF MOSCOW SPENCE HOLDINGS 1 - LLC ACKNOWLEDGMENT STATE OF IDAHO ) ) ss: LATAH COUNTY ) On this ~day of , 2016, before me, the undersigned, a Notary in and for said State, personally appearedBfi B. Spence and Catherine L. Spence, known to me to be the members of the Limited Liability Company that executed the instrument, or the persons who executed the instrument on behalf of said Limited Liability Company, and acknowledged to me that such Limited Liability Company executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. D-41/'/ ~ ~ • v· ~ ' · ~ . . ~ I QT..d" \ - i ~ . ~ : : : = : \ '°c!aL\C j : ~ cP··. . ~ ~ ' 0 ' ~ ~ OF \0 LEASE AGREEMENT - SPENCE AND CITY (2016) Notary Residing My commission expires _ PAGE3 OF4 ---PAGE BREAK--- EXHIBIT EXHIBIT PAGE40F4