EDA Resolution No. 2025-06 (Approv Sec Amdt Lease Agrmt PARC_Freds)CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO.2025-06
RESOLUTION APPROVING AMENDMENT DOCUMENTS TO
LEASE AGREEMENT
BETWEEN THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY
AND THE CITY OF MONTICELLO PARKS DEPARTMENT
BE IT RESOLVED by the Board of Commissioners of the City of Monticello Economic
Development Authority (the "Authority") as follows:
WHEREAS, the Authority owns certain properly (the "Property") in the City of Monticello,
Minnesota (the "City"); and
WHEREAS, the Authority and the City of Monticello Parks Department (the "Tenant") previously
entered into a Lease Agreement, dated December 10, 2018 (the "Original Lease") pertaining to the
commercial building located on the Property at 349 West Broadway in the City; and
WHEREAS, the Authority and the Tenant entered into an Extension of Lease Agreement, dated as
of May 12, 2021, as amended by a First Amendment to Lease entered into in 2023 (collectively, the "First
Amendment" and, together with the Original Lease, the "Lease") to extend the initial term of the Original
Lease.
WHEREAS, the term of the Lease has expired and the Authority and the Tenant wish to enter into
a Second Amendment to Lease Agreement (the "Second Amendment") which will extend the term of the
Lease; and
WHEREAS, the Board of Commissioners of the Authority ("Board") has reviewed the Second
Amendment and has determined that it is in the best interests of the Authority to approve and execute the
Second Amendment.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the City of Monticello
Economic Development Authority as follows:
1.01. The Authority hereby approves the Second Amendment substantially in accordance with the
terms set forth in the forms presented to the Board, together with any related documents necessary in connection
therewith, and without limitation all documents, exhibits, certifications or consents referenced in or attached to
the Second Amendment (collectively, the "Amendment Documents") and hereby authorizes the President and
the Executive Director to negotiate the final terms thereof and, in their discretion and at such time as they may
deem appropriate, to execute the Amendment Documents on behalf of the Authority, and to carry out, on behalf
of the Authority, the Authority's obligations thereunder when all conditions precedent thereto have been
satisfied.
1.02. The approval hereby given to the Amendment Documents includes approval of such
additional details therein as may be necessary and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the
Authority and by the officers authorized herein to execute said documents prior to their execution; and said
officers are hereby authorized to approve said changes on behalf of the Authority. The execution of any
instrument by the appropriate officers of the Authority herein authorized shall be conclusive evidence of the
approval of such document in accordance with the terms hereof. This Resolution shall not constitute an offer
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and the Amendment Documents shall not be effective until the date of execution thereof as provided herein. In
the event of absence or disability of the officers, any of the documents authorized by this Resolution to be
executed may be executed without further act or authorization of the Board by any duly designated acting
official, or by such other officer or officers of the Board as, in the opinion of the Authority Attorney, may act
in their behalf.
1.03. Upon execution and delivery of the Amendment Documents, the officers and employees of
the Authority are hereby authorized and directed to take or cause to be taken such actions as may be necessary
on behalf of the Authority to implement the Amendment Documents.
Adopted by City of Monticello Economic Development
Authority on August 13, 2025:
ATTEST:
xec We Director
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