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AGENDA
CHASKA ECONOMIC DEVELOPMENT AUTHORITY
CHASKA CITY HALL - COUNCIL CHAMBERS & ZOOM
Monday, March 30, 2026
IMMEDIATELY FOLLOWING CITY COUNCIL MEETING
1. Call to Order
2. Roll Call
3. Adopt Agenda
4. Approve Previous Meeting Minutes
4.A. Meeting Minutes 03/16/2026
5. Discussion Items
5.A. Approve Lease Agreement with Copperfield Chaska, LLC at the Curling and
Event Center
5.B. Adopt Resolution 2026-25 Bond Sale Reimbursement
6. Other Business
7. Adjourn
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DRAFT
- MINUTES -
CHASKA ECONOMIC DEVELOPMENT AUTHORITY
MARCH 16, 2025
1. Call to Order
The meeting was called to order by President Hubbard at 8:23 p.m.
2. Roll Call
Roll call was taken. Present: President Hubbard and Commissioners Grau, Benesh, Hatfield, and
Sheveland.
Absent: None.
Also Present: Matt Podhradsky, Executive Director and Elise Durbin, Assistant Executive Director.
3. Adopt Agenda
Motion by Commissioner Sheveland, second by Commissioner Benesh to adopt the agenda as
presented.
Motion carried.
4. Approve Previous Meeting Minutes
4.A. Meeting Minutes 12/15/2025
Motion by Commissioner Hatfield, second by Commissioner Grau to approve the minutes from
December 15, 2025.
Motion carried.
5. Discussion Items
5.A. Settlement Agreement Related to the Chaska Building Center Site
Assistant Executive Director Durbin presented this item to the Council.
Motion by Commissioner Benesh, second by Commissioner Grau to approve the Settlement
Agreement between the EDA, Lariat Companies, Old National Bank, and Old Republic National
Title Insurance Company, and authorize the President to execute the agreement.
Motion carried.
6. Other Business
Executive Director Podhradsky said at the next Council meeting, he will have a better update
about KFC.
7. Adjourn
Motion by Commissioner Grau, second by Commissioner Benesh to adjourn the meeting at 8:28
p.m.
Motion carried.
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REQUEST FOR ACTION
CHASKA ECONOMIC DEVELOPMENT AUTHORITY
3/30/2026
Subject: Lease Agreement for Restaurant in Curling and Event Center
Prepared By: Matt Podhradsky, City Administrator
BACKGROUND
In 2015, the City of Chaska opened the Curling and Event Center. As part of that
facility, the City went out for an RFP to attract a restaurant into the facility to help serve
not only the curlers that would be utilizing the facility but also the public coming into
downtown Chaska. During that process we had three proposals that we reviewed, with
the final decision coming down to the Crooked Pint restaurant, which is a division of
Hightop Hospitality, which owns several other restaurants including Green Mill and
Copperfield, as well as multiple catering businesses and catering venues. When
choosing Crooked Pint, we were choosing to work with Jeremy Brown, a franchisee of
Hightop Hospitality who also owns other restaurants in other communities. The
restaurant opened in December of 2015 and recently celebrated its 10-year
anniversary.
Except for the period during COVID when the restaurant was closed for several
consecutive months, the restaurant at this site has seen success as has been evidenced
by the rent we generate off the facility on an annual basis. As we reviewed in our Work
Session, the restaurant has leased the space in our building based on a percentage of
sales. Specifically, they have leased the space based on 7.5% of the net sales in the
restaurant, which have ranged between just under $3 million per year to over $4 million
per year. In addition, they have been responsible for paying an additional 2.8% of net
sales each year to cover the cost of utilities, garbage, cleaning and other common area
costs. This has translated to between $300,000-$400,000 per year in rent. When we
first started the process of developing an RFP for this site back in 2015, the brokers we
were working with said that we could feel a restaurant was successful here if it had
between $1.5-$2 million in annual sales. Given what they have generated, we feel that
the restaurant has exceeded expectations, although there are still improvements we
would like to see made to help make the experience better for both our restaurant
customers and especially our curlers.
Current Lease Renewal
As part of the original lease with Crooked Pint, the lease was structured as a 10-year
initial lease, with two 5-year options. As we are nearing the end of our initial 10-year
period at the end of April (it got extended for a few months because of the COVID
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closure), Crooked Pint did put us on notice that they were intending on renewing their
lease for another 5 years. However, in the process of doing that, they approached the
City and asked if we would be interested in exploring a new concept through Hightop
Hospitality. Specifically, they indicated that they had a newer concept called
Copperfield where they had a restaurant in Mendota Heights for the past 5 years, and
one they were building in Rosemount that was set to open this spring. While there are
some similarities between Crooked Pint and Copperfield in that they do have a large
beer selection, along with a wide variety of handheld items and appetizers, what
distinguishes Copperfield from Crooked Pint is that they also offer a full breakfast menu
and bakery 7-days per week, specialty coffee drinks, a quick serve bakery and coffee
counter, as well as a wider selection of full entrees for dinner compared to the Crooked
Pint. The inside of the space is also set up less as a pub with a darker color scheme
but is a space that has much lighter décor and a brighter feel to bring more sunlight
into the space. In addition, Copper Field will be taking advantage of the patio area
much more than Crooked Pint, having more furniture with umbrellas to shield from the
sun as well as a small stage along the west wall to provide space for smaller
performances on the patio.
As part of the process of exploring this option, we did have both Staff from the Curling
and Event Center, as well as curlers from different leagues we invited to be a part of
taking a tour of the facility in Mendota Heights. This was a good opportunity for us to
see the food quality, the variety of food options that they had, how the space
functioned, whether we felt it would be a good fit for curlers and the public and what
things we think would have to be looked at differently in our space.
Following that, we were able to meet with the owner of Hightop Hospitality, Paul
Dzubnar, who would be the one that would directly own this restaurant if we were to
convert into a Copperfield. This means that it would no longer be a franchise but would
be part of the corporate structure, giving it access to all the benefits of the corporate
structure such as access to all marketing and promotions, as well as all caterers.
Through those discussions we were able to talk about the things that we felt would be
important to accomplish to not only appeal to the public, but also the curlers who are
there on a weekly basis.
One of the biggest changes that we talked about, which we think would have a very
positive impact on our Curling community, is the addition of permanent stadium seating
designated for Curlers and Curling spectators along the glass inside the restaurant, so
as not to take tables away from the restaurant when watching curling matches. This
has been something that we have not been able to adequately address in the past, with
it making it more difficult for us to attract major USCA Events and even things like
Junior Bonspeils where parents will often want to come to watch their child. We have
also not had the space to have Curling teams be able to gather after a game a socialize
while watching other teams play. We really think that this will help create space
designed for the curlers that is attached to the restaurant but not part of their dining
space. As a part of the design process, Copperfield did agree they could give up that
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space to allow this seating to occur, which we view is a major benefit to our Curling
Club.
The other item that we talked about is in the Banquet Hall. As you are aware now, we
currently have Crooked Pint set up as the Preferred food provider for the venue, with
them paying 12% of their revenues from an event to the City for rent. People can bring
in other vendors, but the percentage goes up to 17% primarily because it is
significantly more work to manage caterers that we only see from time to time than
those that we see on a regular basis. Crooked Pint had two menu options to choose
from, which did sometimes have people utilizing other places to place food orders.
However, what we typically saw was one of three things happening. We either saw
them using Crooked Pint, we saw them use a restaurant serving a specific type of
ethnic food because very few were able to make it, or we saw people have places such
as HyVee catering things like sports banquets purely because of price point. We did not
see a lot of other restaurants in the community catering in this space.
As Hightop Hospitality comes in, they have asked to be the exclusive caterers for the
Event Center. When we only had Crooked Pint, we felt that we did not have the ability
to have them be the exclusive caterers for events because they only had two options,
and they did not meet all food needs and price points. We saw this especially with
ethnic food options. With Hightop Hospitality Group, the advantage we would have
with having them be exclusive is that our customers would have the option of 5
different menus with 5 very different food options and 5 very different price points.
They still would not be able to serve many of the ethnic food options. However, an
advantage that they do have is that they have relationships with many restaurants
around the Twin Cities. They would work to provide multiple “vetted” options for many
different ethnic food varieties, providing both quality food, but also a variety of price
points and the qualifications to serve in a banquet setting. They have also committed
that while they would manage each of these outside food vendors (really taking our
Staff out of that function, which is not our specialty) they would not mark up the food
beyond what the restaurant is charging to them. And for those who feel that the
choices that are presented for Ethnic Food options are not satisfactory to them, Hightop
would allow them to identify and bring in another food vendor, assuming that Hightop
could vet the restaurant to make sure that they meet all food safety and handling
criteria to provide a safe event. There would be a administrative fee for going through
this vetting process, but it would provide additional options for people while still making
sure we have vendors providing service within the Banquet Facility that are qualified to
do so.
Finally, another area that we tend to get use of in our Banquet Facility is for High
School Sports banquets. These events typically are very cost conscious, and often
choose food based on this. Hightop is very accustomed to High School Sports banquets
and has food options that have worked in other markets throughout the Twin Cities.
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Lease Terms and Condition
While Crooked Pint is affiliated with Hightop Hospitality, they are a franchise of their
organization. Because of that, and the fact that Hightop Hospitality would like to have
a lease directly with the Chaska EDA, we would need to go through the process of
cancelling our lease with Crooked Pint and entering a new Lease with Hightop
Hospitality. From a timing standpoint, the lease with Crooked Pint would not end until
such time that all improvements have been made in the restaurant and Copperfield is
ready to open. The reason for this is that we have several events happening over the
next two months during this remodel that have already been booked in the Event
Center and in the Curling Center where food needs to be provided. Crooked Pint still
must be able to provide this food until Copperfield is ready. So, one lease will end as
the other starts.
When the lease with Copperfield starts, the following would be the recommended terms
and conditions of the lease:
➢ The term of the lease will be for 10 years, starting on the date that the
restaurant opens for business. Lessee shall have the right to two 5-year option
renewals
➢ Use of the premise must be for a full-service restaurant, bar and catering
business, and must operate under the trade name “Copperfield” unless consent
to change is given from the Lessor
➢ Base Rent shall be based on the Net Sales within a given calendar year and paid
to the Lessor on a monthly basis. The rent shall be calculated based on the
following:
o 7% of Net Sales between $0 and $4 million
o 5% of Net Sales between $4,000,001-$4.5 million
o 4% of Net Sales between $4,500,001-$5 million
o 3.5% of Net Sales between $5,000,001-$5.5 million
o 2.5% of Net Sales between $5,500,001-$6 million
o 1% of Net Sales greater than $6,000,001
➢ If there is a Casualty Loss on the property, Lessor shall get $5,000 per month
➢ Rent delinquencies bear an interest rate of 4% over the Prime Rate
➢ Lessor is responsible for the cost and upkeep of the improvements for the
“Curling Seating” located along the glass
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➢ Lessee and Lessor will split the cost of the improvements to the rest of the
facility 50/50
➢ All improvements need to be completed on or before June 15, 2026, and it is
expected that the City’s cost between the Curling Seating and our share of the
improvement will be between $700,000-$800,000
➢ The Chaska EDA will keep a security interest in all improvements in the building
as well as all furniture and fixtures in the building, meaning that if they were to
close, we would be able to keep all things in place to attract another restaurant
➢ Signage: Each party is responsible for the cost and maintenance of their own
signage on both sides of the building- the same as we did before
➢ Lessee is responsible for paying Lessor 2.8% of the Net Sales on a monthly basis
for Utilities and other Charges, not to exceed $112,000 in any given year (this is
the same as we currently have)
➢ Minimum levels of insurance are identified in the agreement for the Lessee to
maintain
➢ Owner needs to obtain liquor license by June 1, 2026
➢ Minimum hours of operation will be from 7:30 am -11 pm (they have indicated
they will likely be open later on weekends, and may open earlier for breakfast
depending on demand)
➢ Lessor will oversee managing the banquet facility and booking it, and we will
retain 100% of the booking fees
➢ Lessee will have the exclusive right to serve food in the Banquet Facility, with the
rental amount being equal to 12% of the gross amount of such food sales
➢ Lessee will have the exclusive right to serve all alcohol in the Event Center, with
the rental amount being equal to 15% of the gross amount of all sales
➢ Ethnic Food Options: Lessee shall be responsible for providing a variety of
vetted Ethnic Food Restaurant Options for patrons to choose from that focus on
food quality, price and authenticity and ability to safely serve in a banquet
setting. The Lessee will charge the Patron what is charged to them for this food,
with no upcharge as a pass through. A Patron not being satisfied with the
options will be able to suggest a specific restaurant not on the list to utilize in the
banquet facility for an ethnic food option. However, there will be an
administrative fee to cover the cost of vetting the provider to make sure that
they are equipped to safely and effectively serve food at the venue.
➢
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Summary
Staff does feel that the move to Copperfield as the new restaurant in this facility and as
the food vendor in our Banquet facility will be a positive both for the patrons of our
restaurant and for the curlers in our facility. Specifically, we feel that it is going to bring
the following benefits to the facility:
➢ Copperfield will provide and exciting 10-year “refresh” of the restaurant to go
with the new carpeting throughout the facility and new Event Center Furniture
➢ The ownership and management of the Copperfield will provide a better
customer experience and stronger collaboration with City staff as they will be
more present than past ownership
➢ Offering breakfast will provide an additional segment of revenue that we haven’t
had in the past. A new breakfast restaurant will be great both for the
community and curling events
➢ The restaurant renovations are keeping the curlers in mind. It will still feel like a
sports bar while also having a designated area along the glass for curlers to
hang out and watch curling without necessarily ordering food and drink
➢ The exclusive catering arrangement for the Event Center will streamline the
administrative processes, providing a variety of menu options and still allow for
outside ethnic caterers when needed
➢ There will be a lot of positives that will provide a great experience for customers
and curlers, increase revenues, and create a strong sense of pride for the
community
If Council is to approve this lease tonight, the plan would be for the Crooked Pint to
close at 3 pm on April 5th (Easter). On April 6th, demolition and remodel work will begin
to meet the aggressive schedule. We still have the detailed drawings and estimates
that we need to insert into the final lease document to finalize this, so Staff would
recommend that you approve the lease contingent upon final plans and estimates for
improvements being consistent with initial estimates, and to authorize the Executive
Director to execute the lease when it is in its final form.
EDA ACTION REQUESTED
Motion to approve Lease Agreement with Copperfield Chaska, LLC for use of the
restaurant and banquet facility in the Curling and Event Center, and to Authorize the
Executive Director to execute the final draft of the lease with all attachments
complete.
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LEASE
Lease Agreement (“Lease”) entered into this ___ day of _________, 2026, between Chaska
Economic Development Authority, a Minnesota economic development authority, as Lessor, and
Copperfield Chaska, LLC, a Minnesota limited liability company, as Lessee.
WITNESSETH:
Lessor hereby agrees to lease to Lessee, and Lessee hereby agrees to lease from Lessor, the
premises located at the Chaska Curling Center, with a street address of 3210 Chaska Boulevard,
in the City of Chaska, in Carver County, Minnesota, as depicted on Exhibit A attached hereto (the
“Premises”). Lessee, for itself and for Lessee’s customers, vendors, guests and invitees, shall have
the non-exclusive use of the walkways, restrooms and other common elements in the building and
on the real property where the Chaska Curling Center is situated (the “Property”) of which the
Premises are a part, depicted on Exhibit B.
1. Term. The original term of this Lease will commence on the date Lessee opens the
restaurant to the public (the “Lease Commencement Date”), and will end on the last day one
hundred twenty (120) months after the Lease Commencement Date (the “Lease Term”).
2. Addendum. Prior to Lessee occupying the Premises, the parties shall execute an
addendum to the Lease which: (i) contains the first and last day of the Lease Term and (ii) includes
updated Exhibits E and F.
3. Use. Lessee will use the Premises solely to operate a full service restaurant, bar
and catering business, and activities incidental thereto. The restaurant and bar shall be open to the
public. Lessee must operate the Premises solely under its trade name “Copperfield” and may not
change the trade name without Lessor’s written consent, which shall not be unreasonably withheld.
4. Base Rent.
A. Base Rent Rates. Beginning on the Lease Commencement Date through
December 31, 2026, and between January 1st and December 31st for each year thereafter
during the Lease Term, Lessee agrees to pay, without offset or deduction, base rent as
follows (“Base Rent”):
i. Seven percent (7.0%) of Net Sales (defined and as calculated below)
Lessee generates at the Premises between $0.00 and $4,000,000;
ii. Five percent (5.0%) of Net Sales Lessee generates at the Premises
between $4,000,001and $4,500,000;
iii. Four percent (4.0%) of Net Sales Lessee generates at the Premises
between $4,500,001 and $5,000,000;
iv. Three and one-half percent (3.5%) of Net Sales Lessee generates at
the Premises between $5,000,001 and $5,500,000;
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v. Two and one-half percent (2.5%) of Net Sales Lessee generates at
the Premises between $5,500,001 and $6,000,000; and
vi. One percent (1.0%) of Net Sales Lessee generates at the Premises
greater than $6,000,001.
B. Net Sales. The term “Net Sales” as used herein shall mean the total sales
of food, beverage, merchandise or services made by Lessee, whether at wholesale or retail,
cash or credit: (a) delivered to and/or produced on the Premises, (b) delivered to and/or
produced on the Premises and delivered to a location other than the Premises but excluding
sales or deliveries to the Banquet Facility (as hereinafter defined) (collectively the “Gross
Receipts”). In calculating the Gross Receipts, the following shall be excluded from Net
Sales and deducted from Gross Receipts:
i. Any and all taxes levied upon, assessed against or measured by the
receipt or purchase of food, beverage, merchandise or services by the Lessee and
any and all sales tax and other taxes levied upon, assessed against, based upon or
measured by: (a) the Lessee’s Gross Receipts, or any part thereof, or (b) the sale or
sales price of any food, beverage, merchandise and services, or either, and which
shall be payable by Lessee, whether or not collected by Lessee from its customers
as reimbursement or as an agent of the taxing authority and whether or not the same
shall be commonly known as a sales tax, use tax, retailer’s occupational tax, gross
receipt tax or excise tax; provided, however, said tax which is to be excluded from
Net Sales shall not include any income tax, franchise tax or other tax not levied
upon or computed upon Net Sales or Gross Receipts, or any portion thereof;
provided, further, said taxes to be excluded from Net Sales shall be excludable
regardless of whether imposed under any existing or future orders, regulations,
laws, statutes or ordinances (“Excludable Taxes”), and
ii. Any sales of food, beverage and services delivered to or produced
for the Banquet Facility (as hereinafter defined) pursuant to Section 39 herein, and
iii. The sale of any proprietary gift cards or gift certificates, provided
however, that the redemption of any gift cards, gift certificates or other gifts or pre-
paid cards, instruments or documents for food, beverage or merchandise at the
Premises shall be included in Net Sales, and
iv. The mere exchange or transfer of food, beverage, merchandise or
services between the stores that are subsidiary or affiliated companies of Lessee,
where such exchanges or transfers are made solely for the convenient operation of
the business of Lessee and not for the purpose of consummating a sale made at, in,
from or upon the Premises for the purpose of depriving Lessor of the benefit of a
sale, and
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v. Any cash or credit refund made upon any sale where the food,
beverage, merchandise or service is sold, or some part thereof, is thereafter returned
by the purchaser to, and accepted by, Lessee, and
vi. Sales of fixtures with the prior written consent of Lessor, “bad”
checks or uncollected credit accounts, fees paid to credit card companies, gratuity
paid to Lessee or Lessee’s employees or agents.
C. Base Rent Payment.
i. Base Rent will be paid monthly by the seventh day of each month
following the month end; for example, Base Rent for the month of November is
payable by December 7th.
ii. Within thirty (30) days after the end of each calendar quarter (March
31 end of first calendar quarter, June 30 end of second calendar quarter, September
30 end of third calendar quarter and December 31 end of fourth calendar quarter)
Base Rent for the preceding calendar quarter shall be reconciled against actual Net
Sales for the preceding calendar quarter and by such thirtieth day Lessee must
deliver to Lessor a financial report, in form and content reasonably acceptable to
Lessor, and the Lessee’s Minnesota sales tax returns for such preceding calendar
quarter. If the reports and sales tax returns provided by Lessee to Lessor indicate
that Lessee is entitled to a refund of Base Rent for the preceding calendar quarter,
Lessor shall have thirty (30) days to review the information and reports provided
by Lessee and assuming Lessor has no objection, a refund of Base Rent shall be
issued by the seventh day of the second month following the end of the calendar
quarter for the difference between Base Rent actually paid by the Lessee for the
preceding calendar quarter and Base Rent as reconciled against actual Net Sales for
the preceding calendar quarter. If the financial reports and Lessee’s Minnesota
sales tax returns provided by Lessee to Lessor indicate that Lessee owes additional
Base Rent for the preceding calendar quarter Lessee shall pay such additional Base
Rent to the Lessor by the seventh day of the second month following the end of the
calendar quarter for the difference between the Base Rent actually paid by Lessee
for the preceding calendar quarter and Base Rent as reconciled against actual Net
Sales for the calendar quarter.
D. Objection Audit Rights. Within thirty (30) days of receipt of the financial
statement and Minnesota Sales Tax Returns as set forth in Section 4B, if Lessor disputes
the amount of Base Rent due and owing, an independent certified public accountant
designated by Lessor may, upon at least ten (10) business days, prior written notice to
Lessee, and at reasonable times, inspect Lessee’s records at Lessee’s offices. Upon
completion of the audit, copies shall be provided to Lessee. After receiving the results of
the reconciliation and adjustment audit conducted as provided herein, Lessee may dispute
the results within ten (10) business days by providing written notice to Lessor of Lessee’s
dispute. If Lessee fails to dispute the reconciliation and adjustment as provided within ten
(10) business days, the results are deemed accurate and Lessee waives the right to dispute
the results. If the Lessor’s audit, adjustment and reconciliation reveals a discrepancy of
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more than seven percent (7%) in the amount of Base Rent due and owing for the applicable
preceding calendar quarter, Lessee shall reimburse Lessor for the costs of the audit and
reconciliation; otherwise, Lessor shall bear the costs of the audit and reconciliation. If the
parties cannot agree on the results of the audit and reconciliation, the matter shall be
resolved by arbitration in accordance with the Commercial Arbitration Rules of the
American Arbitration Association. The decision of the arbitrator shall be final. Each party
shall pay its own expenses and attorney’s fees in the arbitration provided, however, that if
the Lessor recovers any additional disputed Base Rent in the arbitration proceeding, the
Lessee shall pay the cost of the audit and adjustment including the costs of the individuals
conducting the audit to appear and testify in the arbitration proceeding.
E. Base Rent/Casualty Loss. During any period in which any casualty, loss,
damage or disruption of the Premises or the Property disrupts or impacts Lessee’s: (i)
business operations at or arising from the Premises or the Property or (ii) use of the
Premises or the Property (collectively “Casualty Loss”), Lessee shall pay to Lessor the
greater of Base Rent on a monthly basis or rental payments of $5,000.00 per month
(“Casualty Rent”) calculated on a pro-rated basis, from the date of the Casualty Loss to the
completion of the mitigation of the Casualty Loss. If the Premises are not tenable due to a
structural defect arising out of the construction of the Premises, such structural defect does
not constitute a Casualty Loss. If the Casualty Loss requires repairs needing a building
permit, the termination of the Casualty Loss shall be the later of: (i) Lessee reopening for
business at the Premises or (ii) the issuance of a certificate of occupancy for the Premises
by the building authority following the Casualty Loss.
5. Security Deposit. (Intentionally Deleted).
6. Rent Delinquencies. If any payment (including Base Rent, utility charges as
provided in Section 19 or additional charges as may be due under this Lease) is not received within
five (5) business days from the date when due, such delinquent amount shall bear interest at a an
annualized rate equal to 4% over the Prime Rate established by US Bank from time to time, from
the due date until paid.
7. Improvements by Lessor. On or before June 15, 2026, or as soon thereafter as
Lessor may complete the same with reasonable diligence, Lessor, at Lessor’s sole cost, shall update
the seating area in the Premises that overlooks the curling facility as depicted in the plans being
prepared by Shea, Inc., which will be attached hereto as Exhibit C, and replacement of the dish
washer and ice maker in the Banquet Facility. Lessor shall be responsible for maintaining the
viewing area and the seating in a first class manner. Lessor shall retain all benefits of any tax
increment financing of the improvements to be made by Lessor. Lessor has the right to make
modifications to the Property in its sole discretion provided Lessor maintains reasonable access
for patrons of the Premises.
8. Improvements, Alterations and Additions by Lessee. Lessee shall be responsible
for furniture and furnishings of the restaurant to be operated from the Premises consistent with the
Copperfield – Eagan, Minnesota and as set forth in the plans being prepared by Shea, Inc., which
will be attached hereto as Exhibit D (“Lessee’s Improvements”). Lessor shall provide Lessee with
one-half of the cost incurred in connection with the Lessee’s Improvements (“Lessee Improvement
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Reimbursement”). The Lessee Improvement Reimbursement shall be paid by Lessor to Lessee
within ten (10) days after Lessee submits invoices and evidence of payment for Lessee’s
Improvements, which may include soft costs (i.e. design).
After completion of the Lessee’s Improvements, Lessee at its own expense may, in any
twelve month period, make alterations, additions or improvements within the Premises which do
not cost more than $50,000 and do not affect the structural portions of the building, without
obtaining Lessor’s prior consent, provided Lessee gives Lessor written notice ten (10) days prior
to commencement of any work or delivery of any materials. Lessee shall not make or allow to be
made any other alterations, additions or improvements to or of the Premises without the written
consent of Lessor, which will not be unreasonably withheld.
Upon the expiration or sooner termination of the original or any renewal term, and if no
amounts are due and owing from Lessee to Lessor, Lessee may remove all equipment, appliances,
trade fixtures, and moveable furniture installed by Lessee, and shall do so if requested by Lessor.
All plumbing fixtures, electrical wiring and fixtures, floor and wall coverings, trim, and permanent
fixtures installed by Lessee shall remain on the Premises and become the property of Lessor.
9. Ownership of Improvements. Lessor shall retain full ownership, free and clear of
any lien, encumbrance or claim in favor of Lessee or any creditor of Lessee of the furniture,
fixtures, equipment and personal property described on Exhibit E, which will be attached hereto
in an Addendum in the manner described in paragraph 2. Lessee shall retain full ownership, free
and clear of any lien, encumbrance or claim in favor of Lessor or any creditor of Lessor of the
furniture, fixtures, equipment and personal property described on Exhibit F, which will be
attached hereto in an Addendum in the manner described in paragraph 2, save and except that all
such personal property described on Exhibit F is subject to a security interest in the Collateral
(defined in Section 11) in favor of Lessor as more fully set forth in Section 11 herein.
10. Early Termination. This Lease may be subject to an early termination only if Lessor
and Lessee agree that the level of profitability necessary to sustain the Lessee’s operations of the
Premises is not sustainable. Lessee shall provide to Lessor such financial information as Lessor
reasonably requires to determine the profitability of Lessee’s operations of the Premises; and if
Lessor determines that Lessee’s operations are not profitable, Lessor and Lessee shall investigate
options to reduce Lessee’s expenses in its operation of the Premises. Nothing herein commits
Lessor or Lessee to any action. If Lessor and Lessee agree in a separate written document,
executed by both parties, that Lessee’s operations of the Premises cannot be made profitable and
in such agreement Lessor grants a right to terminate this Lease, Lessee may terminate this Lease
by: (i) providing a non-refundable Security Deposit of $28,125.00 to Lessor and (ii) providing
Lessor a six month (180 day) notice that Lessee intends to vacate and cease operations (the
“Special Notice Period”). During the Special Notice Period, the Lessee must continue to operate
the Premises consistent with prior operations and the terms of the Lease.
11. Security Interest. As additional security for any and all of its obligations under the
terms of the Lease, Lessee grants to Lessor a security interest in all furniture, equipment, kitchen
equipment, bar equipment, inventory, televisions, sound systems, beer delivery and tap equipment,
wine refrigerators and wine delivery system, linens, serving pieces, flatware, plates, dishes and
glassware used in Lessee’s operation of the Premises (the “Collateral”). Lessee shall not remove
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[PAGE 14]
any of the Collateral from the Premises or the Property, except as may be done in the ordinary
course of business after: (i) first obtaining Lessor’s prior written consent and (ii) immediately
replacing the Collateral with new replacement Collateral of at least comparable utility to the items
removed. Lessor may file financing statements in such offices and locations as Lessor deems
appropriate to perfect its security interest. The security interest granted herein shall be a first lien
on all of the Collateral described herein and Lessee shall keep all such Collateral free from any
other liens and encumbrances, including purchase money security interests and leases.
12. Go Dark. If Lessee, for any reason other than a Casualty Loss or Lease termination
as permitted at the end of the Special Notice Period or the normal expiration of the Lease Term or
any Renewal Term under this Lease, allows the Premises to go dark by ceasing operations, the
Lessor may (i) exercise its remedies under Section 44 or (ii) terminate the Lease and retain the
Security Deposit (if given), and retain Collateral and operate the restaurant in the Premises.
13. Repairs. Upon completion of the initial improvements, Lessee will, at Lessee’s
sole cost and expense, keep the Premises and every part thereof in good condition and repair
(except as otherwise provided with respect to Lessor’s obligations and except to the extent such
maintenance or repairs are necessary due to the fault or neglect of Lessor’s staff or agents),
including, without limitation, the maintenance, replacement and repair of any doors, glass, window
casements, heating and air-conditioning system, plumbing, pipes, and electrical wiring within or
dedicated to the Premises. Upon the expiration or sooner termination of this Lease, Lessee will
surrender the Premises to the Lessor in good condition, broom clean, ordinary wear and tear
excepted. Lessee will keep in place maintenance contracts, in form and substance acceptable to
the Lessor, with entities not affiliated with Lessee, to maintain the heating and air conditioning
system and all ovens, fryers, salamanders, refrigerators, freezers and kitchen fire protection
systems.
Lessor shall maintain and repair the furniture, fixtures, equipment and personal property
serving the Banquet Facility, the structural portions of the seating as depicted on Exhibit C, the
curling facility, the building, including the exterior walls and roof, at Lessor’s own expense, except
to the extent such maintenance or repairs are necessary due to the fault or neglect of Lessee, its
agents, employees, or invitees, or Lessee’s use of the Premises, or any damage caused by breaking
and entering, in which case Lessee shall be responsible for such maintenance and repairs. Lessor
shall not be liable for any failure to make repairs or to perform any maintenance unless such failure
shall persist for an unreasonable time after written notice of the need of such repairs or maintenance
is given to Lessor by Lessee.
14. Common Restrooms. Lessee, and Lessee’s customers, shall have the non-exclusive
use of the two restrooms adjacent to the Premises (the “Common Restrooms”). Lessor shall be
responsible, at its sole expense, for cleaning and maintenance of the Common Restrooms at all
times when the adjacent curling facility is open in a clean and neat manner and at all other times
Lessee shall be responsible for cleaning and maintenance of the Common Restrooms.
15. Liens. Lessee will keep the Premises, and the Property upon which the Premises
are situated (including all improvements by Lessee which are to become and remain the property
of Lessor upon expiration or termination of the original and any renewal term), free from any liens
arising out of any work performed, materials furnished or obligations incurred by or on behalf of
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[PAGE 15]
Lessee. Lessee will indemnify and hold Lessor harmless from any lien claims arising from work
performed or materials furnished at Lessee’s request.
16. Unlawful Use. Lessee will not use the Premises or conduct its operations in
violation of any statute, regulation or ordinance of any governmental body.
17. Assignment and Subletting. Lessee may not assign this Lease or sublet any portion
of the Premises without Lessor’s prior written consent.
18. Signage. Lessee may place and maintain signage on the Premises provided Lessee
obtains all necessary approvals from local government authorities, and subject to reasonable
limitations determined by Lessor. If Lessee places any signage or banners in violation of this
Section 18, Lessor may fine Lessee $50.00 per occurrence and per day until the violating signage
or banner is removed. Lessee may place a lighted sign with Lessee’s name on an interior wall near
the entrance to the Premises not to exceed fifteen (15) square feet in a location approved by Lessor.
Lessor will erect two exterior lit monument signs, one adjacent to Highway 41 and one adjacent
to County State-Aid Highway 61. Lessee will be allowed signage and will contribute to the cost
of such signage as follows:
A. Highway 41 Monument Sign. Lessee may use seventy-five percent (75%)
of each side of the useable signage area. Lessee shall pay one hundred percent (100%) of
Lessee’s actual sign to be placed on the monument sign. The cost of maintaining the sign,
once erected, shall be Lessor’s. Any revisions to Lessee’s signage are subject to Lessor’s
approval and are at Lessee’s sole expense.
B. County State-Aid Highway 61 Monument Sign. Lessee may use twenty-
five percent (25%) of each side of the useable signage area. Lessee shall pay one hundred
percent (100%) of Lessee’s actual sign to be placed on the monument sign. The cost of
maintaining the sign, once erected, shall be Lessor’s. Any revisions to Lessee’s signage
are subject to Lessor’s approval and are at Lessee’s sole expense.
19. Utilities and other charges. Lessee will pay to Lessor 2.8% of Net Sales, on a
monthly basis, in the same manner as payment of Base Rent, but in no event shall Lessee pay more
than One Hundred Twelve Thousand and no/100 Dollars ($112,000.00) in any rolling twelve
month period, and Lessor will furnish, at no additional cost to Lessee, dumpster service for trash
and rubbish removal, electricity, natural gas, water and sewer to the Premises. Lessee shall at its
own expense provide any other utilities, including, but not limited to, telephone, internet, and cable
or other television signal services. Lessee will be solely responsible for costs of removing any and
all trash and other rubbish from the Premises to the dumpster area provided by Lessor. Lessee
must keep its trash, refuse and waste within the dumpster area in a neat and orderly manner and
Lessor may impose a $50.00 per day penalty for each day Lessee fails to do so. Lessee shall be
solely responsible for arranging and paying for the disposal of any grease, oil or hazardous
substances generated by Lessee.
20. Insurance.
A. Liability Insurance. Lessee shall keep in force, at its own expense, during
the term of this Lease a policy of comprehensive public liability insurance insuring both
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[PAGE 16]
Lessee and Lessor against any liability arising out of the ownership, use, occupancy, or
maintenance of the Premises and all areas appurtenant thereto. Such insurance shall be in
the amount of not less than $1,500,000.00 for injury or death of one person in any one
accident or occurrence, and in the amount of not less than $1,500,000.00 for injury or death
of more than one person in any one accident or occurrence, or such higher amounts as may
be required by state or local government authorities. Such insurance shall further insure
Lessor and Lessee against liability for property damage of at least $100,000.00, or such
higher amount as may be required by state or local government authorities. Lessee shall
also maintain liquor liability or “dram shop” insurance with limits of at least $1,500,000.00,
or such higher amount as may be required by state and local government authorities, for
the Premises and all areas appurtenant thereto, including the Banquet Facility. If Lessee
fails to maintain such insurance policies, Lessor may procure and maintain the same at the
expense of Lessee. Lessee shall deliver copies of such policies or certificates of insurance,
with loss payable clauses naming Lessor as an additional insured. No policy shall be
cancelable or subject to reduction of coverage as to Lessor without ten (10) days prior
written notice and opportunity to cure to Lessor. All such policies shall be written as
primary policies not contributing with and not in excess of coverage which Lessor may
carry.
B. Business Interruption Insurance. Lessee shall keep in force, at its own
expense, during the term of this Lease a policy of business interruption insurance in an
amount sufficient to allow Lessee to meet Lessee’s obligations under this Lease, and to
meet its obligations to other creditors in the ordinary course during any period during which
Lessee’s business is interrupted. The business interruption insurance shall include
adequate coverage to pay Casualty Rent during any period of Casualty Loss. Lessor will
be named as a loss payee in such policy which shall not be cancelable or subject to
reduction of coverage as to Lessor without prior written notice and opportunity to cure to
Lessor.
C. Lessor’s Insurance. Lessor shall carry and keep in force, at its own expense,
insurance against such perils and in such amounts as Lessor may from time to time
determine consistent with coverage which is now, or may in the future be, considered
prudent for similar income producing properties situated in the Minneapolis/St. Paul
metropolitan area or which any mortgagee requires Lessor to carry. The names insured on
all policies of insurance maintained by Lessor shall be the Lessor and, if required, any
mortgagee.
D. Worker’s Compensation. Lessee shall keep in force, at its own expense,
worker’s compensation insurance for all of Lessee’s employees working on the Premises
or the Banquet Facility in an amount sufficient to comply with applicable laws and
regulations.
E. Fire Insurance. Lessee shall keep in force, at its own expense, fire
insurance, excluding extended coverage, vandalism and malicious mischief and demolition
and debris removal, insurance for an amount not less than the current replacement cost of
all of Lessee’s leasehold improvements, trade fixtures, merchandise and all personal
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[PAGE 17]
property from time to time in or upon the Premises. Such policy proceeds shall be used, to
the extent necessary, to repair or replace the property damaged or destroyed.
F. Waiver of Claims and Subrogation. Notwithstanding any provision in this
Lease to the contrary, Lessor and Lessee hereby release one another from any and all
liability or responsibility (to the other or anyone claiming through or under them by way
of subrogation or otherwise) for any loss or damage covered by property insurance or
coverable by a customary policy of the other insurance required by Sections 20.A., 20.B.,
20.C., 20.D. or 20.E. above (as applicable), even if such loss or damage is caused by the
fault or negligence of the other party or anyone for whom such party may be responsible.
21. Inspection and Entry. Lessor may, upon reasonable prior notice, enter the Premises
to inspect the same and make repairs required or permitted to be made by Lessor, and to show the
Premises to prospective Lessees during the six (6) months prior to the end of the Lease Term.
Lessor may enter the Premises at any time in the event of an emergency.
22. Surrender. Lessee will surrender the Premises to Lessor upon termination of the
Lease, whether by lapse of time or otherwise, broom clean, and in good order, condition and repair,
except for ordinary wear and tear. Any holding over by Lessee following the end of the term will
be construed to be only a tenancy from month-to-month for which Lessee shall be required to pay
rent at the same rate in effect at the end of the term.
23. Eminent Domain. Lessor and Lessee shall each have the right to cancel and
terminate the Lease as of the date that Lessor surrenders possession of the Premises to any
condemning authority, in the event of condemnation of the Premises, or condemnation of any
substantial part thereof which renders Lessee’s use of the Premises economically impracticable or
impossible, or in the event of a sale thereof in lieu of such taking. Lessor shall be entitled to retain
the amount awarded as damages for such taking, including any amount awarded for the value of
the unexpired term of this Lease, provided, however, that Lessor shall not be entitled to receive
any amount awarded to Lessee for loss of business, increased operating costs or costs of relocation.
24. Reconstruction. If the building containing the Premises is damaged by fire or other
casualty covered by insurance, Lessor agrees to forthwith repair the same, but not at a cost in
excess of the insurance proceeds available, and this Lease shall remain in full force and effect,
except the Lessee may be entitled to a proportionate reduction of the Base Rent and additional
charges only to the extent not covered by the customary form of business interruption insurance
required to be maintained by Lessee, from the date of damage and while such repairs are being
made, such proportionate reduction, if any, to be based upon the extent to which the damage and
making of such repairs actually interferes with the business carried on by Lessee in the Premises.
If the damage is due to the fault or neglect of the Lessee or its employees or agents, there shall be
no abatement of rent. If the Premises are not substantially repaired within one hundred eighty
(180) days following any such damage, Lessee shall have the option to terminate this Lease,
provided the damage is not due to the fault or neglect of Lessee or Lessee’s employees or agents.
In the event the building is damaged as a result of any cause not covered by insurance or
the cost of repair exceeds the insurance coverage, then Lessor shall forthwith repair the same,
provided the extent of the destruction is less than 10% of the then full replacement cost of the
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[PAGE 18]
building. In the event the cost of repairing the damage to the building is 10% or more of the full
replacement cost, then Lessor shall have the option to: (i) repair or restore such damage, this Lease
continuing in full force and effect, but the minimum rent and additional charges will be
proportionately reduced as provided in the first paragraph of this Section 24, to the extent they
would not normally be covered by the customary form of business interruption insurance required
to be maintained by Lessee; or, (ii) give notice to Lessee that Lessee may elect to either proceed
with the repairs at Lessee’s own cost, or terminate this Lease, such election to be made in writing
sent to Lessor within ten (10) days after receipt of Lessor’s notice.
Lessor shall not have any obligation to repair, reconstruct or restore the Premises, when
the damage resulting from any casualty covered under this article occurs during the last eighteen
(18) months of the term of this Lease, but in the event of Lessor’s refusal to repair or reconstruct
or restore the Premises, Lessee may terminate this Lease without further obligation to Lessor. If
Lessee has any remaining option to renew this Lease at the time the building is damaged, Lessee
may notify Lessor of Lessee’s intention to renew the Lease, within thirty (30) days following the
date on which the damage occurred, in which case the remaining term of the Lease shall, for
purposes of this paragraph, and specifically for determining Lessor’s obligation to repair the
Premises, be deemed to include such renewal term.
Lessor shall not be required to repair any injury or damage by fire and other cause, or to
make any repairs or replacement of any leasehold improvements, fixtures, or other personal
property of Lessee, unless resulting from the negligence of Lessor, its agents, servants or
employees, or from the breach of Lessor’s obligations hereunder.
25. Proration of Rent and Expenses. Base Rent, utilities and other similar items shall
be prorated as necessary to adjust for partial months at the commencement or termination of this
Lease, if applicable.
26. Quiet Enjoyment. Lessor warrants to Lessee peaceful and quiet enjoyment of the
Premises, according to the terms of this Lease, and represents that it is lawfully seized of the
Premises.
27. Governing Law. The laws of the State of Minnesota shall govern the construction,
validity, performance and enforcement of this Lease.
28. Memorandum Lease. Simultaneously with or subsequent to the execution hereof,
the parties hereto shall, at the request of either party, execute a memorandum of lease, for recording
purposes, setting forth the term of this Lease, and referencing Lessee’s option to renew, option to
purchase, and right of first refusal.
29. Single Purpose Entity. The sole business of the Lessee shall be the operation of its
bar and restaurant at the Premises, serving food and beverages at the Banquet Facility and catering
food prepared at the Premises to offsite locations.
30. Prior Agreements. This Lease contains all of the agreements of the parties hereto
with respect to any matter covered or mentioned in this Lease, and no prior agreements or
understandings pertaining to any such matters shall be effective for any purpose. No provision of
this Lease may be amended or added to except by an agreement in writing signed by the parties
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[PAGE 19]
hereto or their respective successors in interest. This Lease shall not be effective or binding on
any party until fully executed by both parties hereto.
31. Sale of Premises by Lessor. In the event of any sale of the Premises by Lessor,
Lessor shall be and is hereby entirely freed from and relived of all liability under any and all of its
covenants and obligations contained in or derived from this Lease arising out of any act, occurrence
or omission occurring after the consummation of such sale; and the purchaser, at such sale or any
subsequent sale of the Premises, shall be deemed, without any further agreement between the
parties or their successors in interest or between the parties and any such purchaser, to have
assumed and agreed to carry out any and all of the covenants and obligations of the Lessor under
this Lease.
32. Subordination; Lessee’s Statement. Lessee agrees to subordinate Lessee’s interest
under this Lease to any mortgage upon the Property of which the Premises are a part, provided
such mortgagee agrees that Lessee may continue to occupy the Premises pursuant to the provisions
of this Lease for the remaining term and any extensions or renewals thereof, for so long as Lessee
attorns to such mortgagee, notwithstanding any foreclosure of such mortgage; provided further,
that such mortgagee shall not have any personal liability to Lessee for breach of any of the
provisions of this Lease. Lessee shall at any time and from time to time, upon not less than ten
(10) days prior written notice from Lessor, execute, acknowledge and deliver to Lessor a statement
in writing (a) certifying that this Lease is unmodified and in full force and effect (or, if modified,
stating the nature of such modification and certifying that this Lease as so modified is in full force
and effect), and the date to which the rental and other charges are paid in advance, if any; and (b)
acknowledging that there are not, to Lessee’s knowledge, any uncured defaults on the part of the
Lessor hereunder, or specifying such defaults if any are claimed; and (c) setting forth the date of
commencement of rents and expiration of the term hereof. Any such statement may be relied upon
by the prospective purchaser or encumbrancer of all or any portion of the Property of which the
Premises are a part.
33. Authority of Lessee. If Lessee is a corporation, Lessee represents and warrants that
each individual executing this Lease on behalf of Lessee is duly authorized to execute and deliver
this Lease on behalf of said corporation, in accordance with the Articles and By-laws of said
corporation, and that this Lease is binding upon said corporation.
34. Option to Renew. Lessee shall have the option to renew this Lease for up to two
additional periods of five years each, provided Lessee gives Lessor written notice of such intention
to renew at least six (6) months prior to expiration of the then current term. The annual Base Rent
for each five year renewal period shall be as provided in Section 4.
35. Contingencies. This Lease is contingent on Lessee obtaining a liquor license and
all other permits and licenses necessary for the operation of Lessee’s business. If such
contingencies have not been satisfied by June 1, 2026 then this Lease may be canceled by either
party.
36. Restrictive Covenant. Lessee agrees that so long as this Lease is in effect (including
any extensions or renewals), Lessee will not operate another bar and/or restaurant business within
three miles of the Chaska city limits. In the event of any violation of this restrictive covenant
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[PAGE 20]
Lessor may apply to any court of competent jurisdiction for injunctive relief, and Lessee agrees to
waive the defense that Lessor has an adequate remedy at law.
37. Waiver. No Waiver by either party of a breach of any agreement contained in this
Lease shall operate as a waiver of such agreement itself or any subsequent breach thereof. No
payment by Lessee or receipt by Lessor of a lesser amount than the monthly installments of Base
Rent, including additional charges, shall be deemed to be other than on account of the earliest
stipulated rent, nor shall any statement or endorsement on any check or letter accompanying any
check operate as an accord and satisfaction or waiver of any breach, and Lessor may accept the
same without prejudice to Lessor’s right to collect any additional amounts owing or exercise any
other right or remedy provided in this Lease. Lessor’s reentry or acceptance of keys from Lessee
shall not be deemed an acceptance of a surrender of the Lease. Lessee waives all claims against
Lessor and the City of Chaska for consequential, special or punitive damages allegedly suffered
by Lessee, including but not limited to lost profits and business interruptions.
38. Hours of Operation. Lessee shall conduct its business, at the Premises, at a
minimum from 7:30 a.m. to 11:00 p.m., seven days a week, excluding legal holidays and Christmas
Eve.
39. Banquet Facility. Adjacent to the Premises in a location identified on Exhibit B
attached hereto is a multiuse space designed for meetings, parties, receptions, reunions, private
parties and other such uses (the “Banquet Facility”). The Banquet Facility shall be subject to the
following operational issues and restrictions:
A. Management. Lessor will manage the Banquet Facility.
B. Food Service. Lessee shall have the exclusive right to serve food in the
Banquet Facility. Lessee shall pay to Lessor 12% of the gross amount of such food sales
less Excludable Taxes. Lessor shall retain 100% of the room rental fee.
C. Beer, Wine and Liquor Sales. So long as Lessee maintains appropriate
licensure, Lessee shall have the exclusive right and obligation to sell beer, wine and liquor
in the Banquet Facility and must provide adequate staff to conduct such sales for all events
within the Banquet Facility. Lessee shall pay to Lessor 15% of the gross beer, wine, and
liquor sales (including soft drinks, juices, etc.) less Excludable Taxes to Lessor.
D. Banquet Space Management. Lessor shall be responsible for managing the
banquet space including booking of events, event set-up, linens, etc., and clean-up of the
Banquet Facility after an event. Lessor may require in its agreement for use of the Banquet
Facility that the user, including Lessee, shall provide linens, serving utensils, chafing
dishes, flatware, plates, bowls, cups and such other items as Lessor may require for the
event. Lessor shall give Lessee reasonable notice of all scheduled events and shall provide
to the individual or entity booking the event information about Lessee including the
requirement that Lessee provide food service, beer, wine and liquor. Any contract Lessor
enters into with a user of the Banquet Facility shall include the requirement that such user
separately contract with Lessee for catering, beer, wine and liquor (or such lesser service
as the user of the Banquet Facility may require).
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[PAGE 21]
E. Lessee’s Bar Charges. In the course of providing beer, wine and liquor in
the Banquet Facility, Lessee may not charge amounts on a per serving basis which are in
excess of the amounts charged to public customers of the Premises.
F. Ethnic Food Options. Notwithstanding anything herein to the contrary,
upon request of users of the Banquet Facility, Lessee will provide a variety of options to
meet the needs of ethnic food options not provided by the Lessee. The ethnic food options
will be vetted by Lessee for quality, price, service, and proper food service qualifications.
Lessee shall not charge users of the Banquet Facility choosing any of the ethnic food
options more for the food than what the ethnic food provider is charging. If the user is not
reasonably satisfied with the ethnic food options provided, Lessee shall allow the user to
choose their own ethnic food provider and Lessee shall be entitled to charge an
administrative fee. Such ethnic food provider must meet minimum standards for food
quality and safety reasonably set by Lessee and must be in compliance with all laws and
regulations for food service.
40. Exterior Maintenance. Lessee shall keep the Premises neat, free and clean of
garbage and debris. Lessee shall place all trash and garbage inside sealed plastic bags before
depositing the same in the common trash dumpsters provided, except for broken down cardboard
boxes. Lessor reserves the right to fine Lessee $50.00 for each violation (to the extent Lessor has
not levied a fine under Section 19 for the same violation) of the aforementioned requirement. In
the event Lessor provides a trash compactor for Lessee’s use, Lessee shall indemnify and hold
harmless Lessor and its employees and agents from and against all liabilities, claims, damages or
causes of action for damages brought on account of: (i) injuries to any person or persons or
property; (ii) loss of life; or (iii) violation of OSHA or other local or state laws, ordinances or
regulations; arising out of the use, operation or maintenance by Lessee or Lessee’s employees and
contractors of the trash compactor.
41. Hazardous Materials. Neither Lessee, nor any of Lessee’s agents, contractors,
employees, licensees or invitees shall at any time handle, use, manufacture, store or dispose of in
or about the Premises or the Property any flammables, explosives, radioactive materials, hazardous
waste or minerals, toxic waste or materials, or other similar substances, petroleum products or
derivatives or any substance (collectively “Hazardous Materials”) subject to regulation by or under
any federal, state and local laws and ordinances relating to the protection of the environment or
the keeping, use or disposition of environmentally Hazardous Materials, substances, or waste,
presently in effect or hereafter adopted, all amendments to any of them, and all rules and
regulations issued pursuant to any such laws or ordinances (collectively “Environmental Laws”).
Lessee shall protect, defend, indemnify and hold Lessor harmless from and against any and all
loss, claims, liability or costs (including court costs and attorney’s fees) incurred by reason of
actual or asserted failure of Lessee to fully comply with all applicable Environmental Laws or the
presence, handling, use or disposition in or from the Premises or Property of any Hazardous
Materials, or by reason of any actual or asserted failure of Lessee to keep, observe or perform any
provisions of this section. Notwithstanding the foregoing, Lessee may handle, store, use or dispose
of products containing small quantities of Hazardous Materials to the extent customary and
necessary for the use of the Premises for bar and restaurant purposes; provided that Lessee shall
always handle, store, use and dispose of any such Hazardous Materials in a safe and lawful manner
and never allow such Hazardous Materials to contaminate the Premises, or the Property.
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42. Indemnification. Lessor shall not be liable and Lessee waives all claims against
Lessor for any damage to any property or any injury to any person in or about the Premises or the
Property by or from any cause whatsoever, except to the extent caused by or arising from the gross
negligence or willful misconduct of Lessor. Except as provided herein, Lessee shall protect,
indemnify and hold the Lessor harmless from and against any and all loss, claims, liability or costs
(including court costs and attorney’s fees) incurred by reason of: (i) any damage to any property
or any injury to any person occurring in, on or about the Premises or the Property to the extent that
such injury or damage is caused by or arise from any actual or alleged act, neglect, fault, or
omission by or of Lessee, its agents, servants, employees, invitees, or visitors to meet any standards
imposed by any duty with respect to the injury or damage; (ii) the conduct or management of any
work or thing whatsoever done by Lessee in or about the Premises or from transactions of the
Lessee concerning the Premises; (iii) Lessee’s failure to comply with any and all governmental
laws, ordinances, and regulations applicable to the condition or use of the Premises, the Property
or its occupancy; or (iv) any breach or default on the part of the Lessee in the performance of any
covenant or agreement on the part of the Lessee to be performed pursuant to this Lease. The
provisions of this section shall survive the termination of this Lease with respect to any claim or
liability accruing prior to such termination.
43. Default. If Lessee fails to keep or perform any of its covenants and agreements
contained in this Lease, or if Lessee vacates the Premises during the term of this Lease, then, ten
(10) days after mailing of written notice from Lessor, in case of non-payment of any rent that is
due and not in dispute under Section 4(C) (including Base Rent and any additional charges) or any
other default which may be cured by the payment of money, and forty-five (45) days after receipt
of such notice by Lessee in case of other neglect or failure (provided, however, that Lessee shall
not have paid the rent or other sum within the ten (10) days, or have cured or commenced to cure
any other neglect or failure, so far as could reasonably be accomplished within the forty-five (45)
days), then Lessor may, at its sole election and discretion, enter the Premises and take possession
of the same, without forfeiture of the rents accrued and to be paid by the Lessee, and terminate this
Lease free from any right or claim of Lessee.
44. Termination for Insolvency, Bankruptcy or other Legal Action. Lessor may, in
Lessor’s sole discretion, immediately terminate this Lease upon the occurrence of any of the
following events: if Lessee or any guarantor of this Lease makes an assignment for the benefit of
creditors, files a petition for reorganization or liquidation under Title 11 of the United States Code,
or is involuntarily adjudicated a debtor under said Title 11; if a receiver of Lessee’s or any
guarantor’s business or assets is appointed by a Court of competent jurisdiction; or, if execution is
levied against Lessee’s property, or a suit to foreclose any lien or mortgage against the inventory
or equipment located in the Premises is instituted against Lessee and not dismissed within thirty
(30) days.
45. Attorney’s Fees. In addition to all other remedies, the prevailing party for any
breach under this Lease (except for an arbitration for reconciliation of Base Rent as provided in
Section 4(C)) shall be entitled to an award of that portion of the prevailing party’s attorney’s fees,
calculated on usual and customary hourly rates in the twin cities area, which exceed $50,000.00.
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[PAGE 23]
IN WITNESS WHEREOF, the Lessor and Lessee have caused this instrument to be
executed in duplicate on the day and year first above written.
LESSOR:
CHASKA ECONOMIC DEVELOPMENT AUTHORITY
By:__________________________________
Its_____________________________
STATE OF MINNESOTA )
) ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this _____ day of
_______________, 2026, by ______________________________, the ___________ of Chaska
Economic Development Authority, a Minnesota economic development authority, on behalf of the
economic development authority.
________________________________
Notary Public
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[PAGE 24]
LESSEE:
COPPERFIELD CHASKA, LLC
By:__________________________________
Its_____________________________
STATE OF MINNESOTA )
) ss.
COUNTY OF CARVER )
The foregoing instrument was acknowledged before me this _____ day of
_______________, 2016, by ______________________________, the ___________of
Copperfield Chaska, LLC, a Minnesota limited liability company, on behalf of the company.
________________________________
Notary Public
198376205v5
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[PAGE 25]
EXHIBIT A
PREMISES
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[PAGE 26]
EXHIBIT B
PROPERTY
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[PAGE 27]
EXHIBIT C
LESSOR BUILDOUT
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[PAGE 28]
EXHIBIT D
LESSEE’S IMPROVEMENTS
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[PAGE 29]
EXHIBIT E
LESSOR FURNITURE, FIXTURES AND EQUIPMENT
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[PAGE 30]
EXHIBIT F
LESSEE FURNITURE, FIXTURES AND EQUIPMENT
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[PAGE 31]
REQUEST FOR ACTION
EDA OF THE CITY OF CHASKA
3/30/2026
Subject: Adopt Resolution 2026-25 Bond Sale Reimbursement
Reviewed by: Noel Graczyk, Administrative Services Director
Prepared by: Erica Mattice, Finance Division Director
The Economic Development Authority of the City of Chaska (EDA) anticipates the possible
issuance of bonds in either 2026 or 2027 to finance building improvement at the Chaska Curling
and Event Center. Prior to issuance of any such bonded debt the EDA must first comply with
IRS regulations regarding reimbursement requirements.
In accordance with IRS regulations, the EDA must declare its intent to reimburse itself prior to
payment of any project expenditures. Projects as listed in the proposed reimbursement
resolution will incur costs that may be reimbursed from future bond sales and thus must be
declared by the EDA for possible future reimbursement.
The enclosed proposed resolution establishes compliance with IRS reimbursement regulations
for the projects listed in the resolution.
Staff recommends adoption of the resolution.
EDA OF THE CITY CHASKA, ACTION REQUESTED
Motion to adopt Resolution No 2026-25 establishing compliance with reimbursement bond
regulations under the Internal Revenue Code of 1986.
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[PAGE 32]
CERTIFICATION OF MINUTES RELATING TO REIMBURSEMENT
Economic Development Authority of the City of Chaska, Minnesota
City Council
A regular meeting held Monday, March 30, 2026, at 7:00 p.m., at Chaska City Hall in the Council
Chambers located at One City Hall Plaza, Minnesota, or by electronic means, as authorized by
law.
Members present:
Members absent:
Documents attached: Excerpt of minutes of the above-described meeting relating to the resolution
described below.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CHASKA
RESOLUTION NO. 2026-25
RESOLUTION ESTABLISHING COMPLIANCE WITH REIMBURSEMENT BOND
REGULATIONS UNDER THE INTERNAL REVENUE CODE OF 1986
I, the undersigned, being the duly qualified and acting recording officer of the Issuer certify
that the documents attached hereto, as described above, have been carefully compared with the
original records of the Issuer in my legal custody, from which they have been transcribed; that said
documents are a correct and complete transcript of the minutes of a meeting of the governing body
of the Issuer, and correct and complete copies of all resolutions and other actions taken and of all
documents approved by the governing body of the Issuer at said meeting, so far as they relate to
the resolution described above; and that said meeting was duly held by the governing body of the
Issuer at the time and place and was attended throughout by the members indicated above, pursuant
to call and notice of such meeting given as required by law.
WITNESS my hand officially as such recording officer on Monday, March 30, 2026.
Denise Beebe, Deputy Clerk
Taylor Hubbard, President
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[PAGE 33]
EXCERPT OF MINUTES
Council member [____________________] introduced the following resolution and
moved its adoption, which motion was seconded by Council member [_____________________]:
ECONOMIC DEVELOPEMTN AUTHORITY OF THE CITY OF CHASKA
RESOLUTION NO. 2026-25
RESOLUTION ESTABLISHING COMPLIANCE WITH REIMBURSEMENT BOND
REGULATIONS UNDER THE INTERNAL REVENUE CODE OF 1986
WHEREAS, Economic Development Authority of the City of Chaska, Minnesota (the
“Issuer”), proposes to enter into or issue one or more tax-exempt obligations (whether one or more,
the “Financing”), for the purpose of funding building improvements to the Chaska Curling and Event
Center (the “Projects”).
WHEREAS, the Internal Revenue Service has issued Section 1.150-2 of the Income Tax
Regulations (the “Reimbursement Regulations”) dealing with the issuance of tax-exempt obligations
all or a portion of the proceeds of which are to be used to reimburse project expenditures incurred prior
to the date of issuance of such tax-exempt obligations.
WHEREAS, the Reimbursement Regulations generally require that the Issuer make a
declaration of its official intent to reimburse itself for such original expenditures out of the proceeds
of a tax-exempt obligation no later than 60 days after payment of the expenditures to be reimbursed,
that the tax-exempt obligation be entered into and the reimbursement allocation be made from the
proceeds of such tax-exempt obligation within the reimbursement period (as defined in the
Reimbursement Regulations) and that the expenditures reimbursed be capital expenditures or costs of
issuance of the tax-exempt obligation.
WHEREAS, the Issuer desires to comply with requirements of the Reimbursement
Regulations with respect to the Project.
NOW, THEREFORE, BE IT RESOLVED that the Issuer proposes to undertake the Project
and to make original expenditures with respect to the Project prior to the issuance of the Financing.
RESOLVED FURTHER that the Issuer reasonably expects to enter into the Financing to
Finance such projects in the maximum principal amount of $960,000 for building improvements
related to the Chaska Curling and Event Center. And to reimburse the Issuer for such original
expenditures from the proceeds of the Financing as permitted by law.
RESOLVED FURTHER that other than (i) de minimis amounts permitted to be reimbursed
pursuant to Section 1.150-2(f)(1) of the Reimbursement Regulations or (ii) expenditures constituting
preliminary expenditures within the meaning of Section 1.150-2(f)(2) of the Reimbursement
Regulations, the Issuer will not seek reimbursement for any original expenditures with respect to the
Project paid more than 60 days prior to the date of adoption of this resolution.
2
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[PAGE 34]
RESOLVED FURTHER that all original expenditures for which reimbursement is sought will
be capital expenditures, costs of issuance of the Financing issued to finance the Project or extraordinary
working capital expenditures under Section 1.148-6(d)(3)(ii)(B) of the Income Tax Regulations.
RESOLVED FURTHER, that no reimbursement allocation contemplated hereby shall be used
to avoid the restrictions under Section 142 through 147 of the Internal Revenue Code of 1986 (the
“Code”) or employ an abusive arbitrage device to avoid the arbitrage restrictions of Section 148 of the
Code.
RESOLVED FURTHER that as of the date hereof, there are no Issuer funds reserved, pledged,
allocated on a long term basis or otherwise set aside (or reasonably expected to be reserved, pledged,
allocated on a long term basis or otherwise set aside) to provide permanent financing for the original
expenditures to be financed by the Financing; consequently, it is not expected that the issuance of the
Financing will result in the creation of any replacement proceeds.
RESOLVED FURTHER that for a period of one year following any allocation of Financing
proceeds to reimburse an expenditure, the Issuer will not use funds corresponding to the Financing proceeds
for which a reimbursement allocation was made in a manner that results in the creation of replacement
proceeds of the Financing or another issue of tax-exempt obligations (other than amounts deposited into a
bona fide debt service fund).
RESOLVED FURTHER that the Administrative Services Director / Treasurer of the Issuer
(the “Authorized Officer”) or his or her designee shall be responsible for making the “reimbursement
allocations” described in the Reimbursement Regulations, being generally the transfer of the
appropriate amount of proceeds of the Financing to reimburse the source of temporary financing used
by the Issuer to make payment of the original expenditures relating to the Project; each reimbursement
allocation will be made not later than 18 months after the later of (i) the date of the original expenditure
or (ii) the date the Project is placed in service or abandoned (but in no event later than three years after
the original expenditure is paid), will be evidenced by an entry on the official books and records of the
Issuer maintained for the Financing issued to finance the Project, and will specifically identify the
original expenditures being reimbursed.
BE IT FINALLY RESOLVED that this resolution shall be in full force and effect from and
after its passage.
Adopted: Monday, March 30, 2026
Upon vote being taken thereon, the following voted in favor thereof:
[insert names]
and the following voted against the same:
[insert names]
whereupon the resolution was declared duly passed and adopted.
3
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