Is the Use Contract free of provisions that require the Public Entity to reimburse the Counterparty in an amount in excess of the Counterparty’s investment in the land and capital improvements? (See Minn. Stat. § 16A.695 Subd. 2(b)) * If the Use Contract contains any provisions regarding reimbursements to be made to the Counterparty, list the section or paragraph numbers in the Use Contract that contain such provisions: ______________ Yes No XI. COMMISSIONER’S APPROVAL OF ANY CHANGES, ADDITIONS OR MODIFICATIONS Does the Use Contract contain a statement that any changes, additions or modifications of the Use Agreement must be agreed to, in writing, by the Commissioner? (See Minn. Stat. § 16A.695 Subd. 2(b) and § 4.03(a) of the Commissioner's Order) * Section or paragraph numbers in Use Contract that satisfy this requirement: ___________________ Yes No SUMMARY Have all of the following questions contained herein been answered “Yes”? (If the answer to this question is “No” then the Use Agreement is not acceptable in its submitted form. Please note that even if all of the following questions are answered “Yes”, there still may be provisions contained in the submitted Use Agreement that may make it unacceptable to the Commissioner.) Yes No I.A Yes No I.B Yes No II Yes No III Yes No IV Yes No V.A Yes No V.B Yes No V.C Yes No V.D Yes No V.E Yes No VI.A Yes No VI.B Yes No VII Yes No VIII Yes No IX.A Yes No IX.B Yes No
IV. MODIFICATION/TERMINATION Is the Ground Lease/Easement structured so that it cannot be modified, restated, amended, changed in any way, or prematurely terminated or cancelled without the prior written consent and authorization by the State Entity and the Commissioner? * Section or paragraph numbers in the Ground Lease/Easement that satisfy this requirement: __________________ Yes No V. TERM OF GROUND LEASE/EASEMENT Is one of the following two provisions satisfied (i.e. one of the following two questions must be answered "Yes")? Yes No A. If the Ground Lease/Easement is only for the Real Property, is the original term of the Ground Lease/Easement greater than 37.5 years, or such other period of time specifically authorized by a Minnesota statute, rule or session law? * Section or paragraph numbers in the Ground Lease/Easement that satisfy this requirement: __________________ Yes No N/A B. If the Ground Lease/Easement is for the Real Property and Facilities, is the original term of the Ground Lease/Easement greater than 125% of the useful life of the Facility, or such other period of time specifically authorized by a Minnesota statute, rule or session law? * Section or paragraph numbers in the Ground that satisfy this requirement: __________________ Yes No N/A VI. PAYMENTS DUE UNDER GROUND LEASE/EASEMENT Is the Ground Lease/Easement structured so that there are no payments due thereunder or that all payments due thereunder are due as a single lump sum on the date that the Ground Lease/Easement is first made and entered into? * Section or paragraph numbers in the Ground Lease/Easement that satisfy this requirement: __________________ Yes No
B. If the Ground Lease/Easement contains use restrictions, do the use restrictions only apply as long as the Public Entity is the Lessee/Grantee under the Ground Lease/Easement, and such use restrictions will terminate and not apply to any successor lessee/grantee who purchases the Public Entity’s interest in the Ground Lease/Easement? NOTE: Provisions that restrict any material changes to the physical characteristics of the Facility are acceptable and are not deemed to be a prohibited use restriction. * If the Ground contains use restrictions, section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ________________ Yes No N/A XI. TRANSFER OF INTEREST Does the Ground Lease/Easement allow for a transfer thereof in the event that the Lessee/Grantee makes the necessary determination to sell its interest therein, and allow such interest to be transferred to the purchaser of such interest? * Section or paragraph numbers in Ground Lease/Easement that satisfy this requirement: ____________________ Yes No XII. ACKNOWLEDGEMENT OF GO GRANT AGREEMENT Does the Ground contain a provision acknowledging the existence of the GO Grant Agreement and stating that the terms, conditions and provisions of the GO Grant Agreement control over any inconsistent provisions in the Ground Lease/Easement? * Section or paragraph numbers in Ground that satisfy this requirement: _______________________ Yes No SUMMARY Have all of the following questions contained herein been answered “Yes”? (If the answer to this question is “No” then the Ground Lease/Easement is not acceptable in its submitted form. Please note that even if all of the following questions are answered “Yes”, there still may be provisions contained in the submitted Ground Lease/Easement that may make it unacceptable to the Commissioner.) Yes No