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Jun. 8. 2012 5:30PM SHORT TERM PARKING LOT LEASE AGREEMENT BETWEEN LATAH INVESTMENTS, L.L.C., LATAH INVESTMENTS II, L.L.C. AND AND CITY OF MOSCOW, IDAHO No. 0095 P. 1 TI-nS SHORT TERM LOT LEASE AGREEMENT BETWEEN LATAH INVESTMENTS, L.L.C., LATAH INVESTMENTS II, L.L.C., AND CITY OF MOSCOW, IDAHO (hereinafter "Agreement") is made and entered into this ?1 day of June, 2012 between Latah Investments, L.L.C., Latah Investments TI, L.L.C, P 0 Box 2009, La Pine, Oregon, 97739 (hereinafter "LESSOR"), and City of Moscow, Idaho, a municipal corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter "LESSEE"); WITNES SETH: LESSOR leases and rents to LESSEE, and LESSEE leases and rents from LESSOR, the real property described as Parcel 1 A parcel of land owned by Latah Investments, L.L.C. and located at the northwest comer of Sixth and Jackson Streets and measuring approximately one hundred twenty five feet (125') from the westerly Jackson Street public right-of-way boundary westward to the public alley, and extending approximately eighty feet (80') to the north from the northerly Sixth Street public right-of-way boundary, said parcel containing ten thousand sixty one (10,061) square feet more or less; and Parcel 2 - A parcel of land owned by Latah Investments II, L.L.C. and located adjacent to and between the westerly Jackson Street right-ofJway and the public alley west of Jackson Street and approximately one hundred fifty eight feet (158') north of the Sixth Street northerly public right-of-way line. Said parcel measures approximately one hundred twenty five feet (125') in the east-west direction and one hundred six feet (106') in the north-south direction, containing thirteen thousand two hundred eighty four (13,284) square feet, more or less; and As it appears on attached Exhibit for use exclusively as a parking lot for temporary vehicle storage during LESSEE's South Jackson Street parking lot construction (hereinafter "the Leased Premises"). l. TERM: The term of this Agreement is for a period of approximately four weeks commencing at midnight on June 10, 2012 and terminating at midnight on July 6, 2012 under the terms and conditions set out in this Agreement. 2. RENT: LESSEE agrees to pay LESSOR rent for the Leased Premises in the total amount of four hundred dollars ($400), due and payable by July 6, 2012. The parties agree that this will be a fully net Agreement to LESSOR. In addition to the rent, LESSEE agrees to pay for all expenses (excluding taxes, if any) attributed to the Leased Premises during the Lease term, including, but not limited to all maintenance necessary to maintain the Leased Premises in as good condition as Leased Premises are in at the commencement of the term ofthis Agreement. 3. PREMISES OF LESSOR: LESSEE agrees to provide property insurance coverage on its Leased Premises during the Lease term and hereby releases and discharges LESSOR of and from any LEASE AGREEMENT-CITY AND LATAH lNVESlMENTS PAGEl OF4 ---PAGE BREAK--- Jun. 8. 2012 5:31PM No. 0095 P. 2 liability for damage to the Leased Premises of LESSOR while on the Leased Premises during the Lease term. 4. WARRANTIES: There are no warranties by LESSOR, and LESSEE, in executing this Agreement, is relying upon its own judgment, information, and inspection ofthe Leased Premises. 5. NO ALTERATIONS OR IMPROVEMENTS WITHOUT PRIOR CONSENT: No permanent alterations, additions or improvements shall be made to the Leased Premises, nor shall any temporary or permanent sign or structure be placed upon the Leased Premises by LESSEE without first obtaining the consent of LESSOR. All alterations, additions or improvements made by LESSEE shall be the property of LESSOR and surrendered with the Leased Premises at termination of this Agreement. 6. ENTRY BY LESSOR: LESSOR shall have the right to enter the Leased Premises at any reasonable time to examine the same and determine the maintenance and state of repair. 7. LOSS: If any portion ofthe Leased Premises shall be damaged, LESSEE will cause the same to be repaired and restored unless caused by the acts or negligence of LESSOR or its employees, in which case LESSOR shall restore and repair the Leased Premises. If any portion of the Leased Premises is so damaged as to be unfit for use or occupancy, the rent of LESSEE shall be adjusted accordingly. If any portion of the Leased Premises is destroyed to the extent of fifty percent (50%) or more of its value, LESSEE may, at its option, terminate this Agreement rather than restore the Leased Premises. 8. INSURANCE: LESSEE agrees to carry and maintain insurance coverage in the minimum amount of five hundred thousand dollars ($500,000) to protect the LESSOR from and against any and all claims, losses, actions, and judgments for damages or in j my to persons or property arising out of or in connection with LESSEE's acts or performance under this Agreement related to the Leased Premises. 9. INDE:MNIFICATION AND HOLD HARMLESS: LESSEE agrees to indemnifY, defend, and hold harmless LESSOR, and its officers, 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 conection with the acts and/or any performances or activities of LESSEE, LESSEE's agents, employees, or representatives under this Agreement. 10. TIME OF ESSENCE AND DEFAULT: Time is ofthe essence ofthis Agreement. If LESSEE defaults in any of the terms of this Agreement for a period of ten (1 0) days after written notice of default has been sent by LESSOR, then LESSOR, at its option and in addition to all other legal and equitable remedies, may declare this Agreement forfeited and terminated and re-enter and repossess the Leased Premises. Upon such forfeiture and termination, all rights of LESSEE under this Agreement shall immediately tenninate. Provided, however, that nothing herein shall be considered an election ofremedies or limitation of damages. 11. ASSIGNMENT OR SUBLETTING EXPRESSLY PROHIBITED: LESSEE shall not assign this Agreement nor sublet the whole or any part thereof. 12. USE OF LEASED PREMISES: LESSEE shall use the Leased :Premises exclusively for purposes of free public parking of vehicles and shall at all times comply with all laws, regulations and ordinances. LESSEE's use of the Leased Premises shall not be changed without the consent of LESSOR. LEASE AGREEMENT-CITY AND LATAlilNVES'TMENTS PAGE2 OF4 ---PAGE BREAK--- Jun. 8. 2012 5:31PM No. 0095 P. 3 13. SPECIAL CONDITIONS: A. LESSEE agrees to retain all currently signed reserved parking spaces on Parcel 2 of the Leased Premises for the exclusive use of Mary Jśe's Sweet Dreams business (475 South Jackson Street) and its customers during the Lease tenn. B. LESSEE agrees not to impede or interfere with the demolition and/or removal of dwellings or other structures on Parcel 2 during the Lease term. 14. ENTIRE AGREEMENT: This is the entire Agreement of the parties and can only be modified or amended in writing by the parties. 15. ATTORNEY FEES: If action is brought to enforce the tenns or provisions of this Agreement, or to enforce forfeiture for default, or to collect damages for breach, the prevailing party in such action shall be entitled to recover from the losing party reasonable attorney fees together with costs authorized by law. 16. SERVICE OF NOTICES: Any notice may be served upon LESSEE by certified mail to City Clerk, City of Moscow, Idaho, P 0 Box 9203, Moscow, Idaho, 83843, and any notice may be served upon LESSOR by certified mail to LESSOR at Paul Hansen, P 0 Box 2009, La Pine, Oregon, 97739. Service of a notice by certified mail shall be deemed complete upon the date of the postmark by certified mail. Either party may change the address for services of notice by written notice to the other party. I DATED this tcoi:. , 2012, before me, a Notary Public in and for said State, appeared Paul Hansen, known to me to be the person named above and acknowledged that he e2eecuted the foregoing document as the duly authorized manager of Latah Investments, L.L.C. and Latah Investments II, L.L.C. - OFFICIALSEAL MEUSSAA HUCK NOTARYPUBUC·OAEGON NO. 462812 t.tY COMMISSION EXPIRES OCToBER 18. Ś15 LEASE AGREEMENT- CITY AND LATAH INVESTh!ENTS No ublic fi State of Oregon Residing at L,.P.fl£- My commission expires.6,J.y fJ#JJ:,- PAGE3 OF4 ---PAGE BREAK--- Jun. 8. 2012 5:31PM EXHIBIT LEASE AGttEMENT- CITY AND LATAH INVESTMENTS No. 0095 P. 4 Subject Lease Property Legend SJbJect Prope{