Reso 2013-2096 - Laserfiche WebLink

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THIS LEASE AGREEMENT (the "Lease") is made and entered into this '2-64lay of , 2013, by and between the CITY of SUNNY ISLES BEACH, a municipal corporation of the State of Florida (hereinafter referred to as "CITY", or "LESSOR") and AMERICAN FEDERATED TITLE CORP. AS TRUSTEE UNDER FLORIDA LAND TRUST # 3258 , (hereinafter referred to as "LESSEE"). WITNESSETH: WHEREAS, pursuant to Letter Agreement dated November 25, 2008, the LESSOR and DR. ROBERT CORNFELD, President of LESSEE, entered into a public/private partnership agreement to rebuild the historic Newport Fishing Pier(the "Pier"); and WHEREAS, the partnership agreement requires President of LESSEE to contribute a maximum of$2 Million Dollars to rebuild the Pier and the LESSOR to contribute more than $2 Million Dollars towards rebuilding the Pier; and WHEREAS, the parties wish to amend the terms of the Letter Agreement, to provide the LESSEE with the exclusive right to manage and operate the Pier, and to lease the restaurant facilities and bait shop to the LESSEE; and WHEREAS, LESSOR owns certain real property located in Miami-Dade County, Florida as more particularly described in Exhibit "A", a copy is attached to this Lease and incorporated herein by reference (the "Parcel") upon which LESSOR constructed a fishing Pier as more particularly described in Exhibit "B", a copy of which is also attached to this Lease and incorporated herein by reference; and WHEREAS, LESSOR desires to lease to LESSEE, and LESSEE desires to lease from LESSOR a portion of the Pier as more particularly described on Exhibit "C", a copy of which is attached to this Lease and incorporated by reference and made a part hereof(the "Premises") for the purpose stated in this Lease, subject to the terms and conditions of this Lease. NOW THEREFORE, in consideration of the premises and mutual covenants hereinafter contained to be observed and performed, the parties hereto do hereby covenant and agree as follows: SECTION 1. FUNDMENTAL LEASE PROVISIONS The provisions in the Section shall be referred to in this Lease as the "Fundamental Lease Provisions." Unless otherwise defined herein, capitalized terms used in this Lease shall have the meanings listed in the Fundamental Lease Provisions. Effective Date: The term Effective Date shall mean the date of mutual execution and delivery of this Lease. Rent Commencement Date: The date upon which LESSEE is required to make its initial rent payment to the LESSOR. 2