Reso 2013-2162 - Laserfiche WebLink

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SUBLEASE AGREEMENT THIS SUBLEASE AGREEMENT (this "Sublease ") is dated as of October aP2013 by and among CITY OF SUNNY ISLES BEACH, FLORIDA, a municipal corporation of the State of Florida ( "Landlord "), AMERICAN FEDERATED TITLE CORP., as trustee under Florida Land Trust #3258 ( "Sublessor "), and BEACH BAR @ NEWPORT PIER, LLC, a Florida limited liability company ( "Subtenant "). Preliminary Statements WHEREAS, Sublessor is the tenant under that certain Lease Agreement, dated July 26, 2013, by and between Landlord and Sublessor, as tenant, (the "Prime Lease ") regarding the lease of those certain premises located at 16501 Collins, Sunny Isles, Florida 33160 (the "Prime Lease Premises ") consisting of an entire building (the 'Building ") in the project known as Newport Pier at Sunny Isle Beach (the "Project "); WHEREAS, Sublessor desires to sublease to Subtenant and Subtenant desires to sublease from Sublessor the Sublease Premises (as hereafter defined), on the terms and conditions set forth below; and WHEREAS, Subtenant desires that Landlord grant additional rights in order for Subtenant to operate Beach Bar @ Newport Pier restaurant at the Prime Lease Premises, and Landlord desires to grant such rights, on the terms and conditions set forth below. NOW, THEREFORE, for and in consideration of the foregoing and for other good and valuable consideration and of the mutual agreements hereinafter set forth, Sublessor and Subtenant hereby covenant and agree as follows: 1. Definitions. Capitalized terms used but not defined in this Sublease shall have the same definitions given to them in the Prime Lease, unless the context clearly indicates a contrary intent. 2. Sublease Premises; Uses. Sublessor does hereby demise and sublease to Subtenant the entire Prime Lease Premises which consists of a restaurant facility, bait shop, second floor of restaurant facility and additional outdoor dining area as further depicted in Exhibit "C" in the Prime Lease (the "Sublease Premises "). Subtenant agrees to operate Beach Bar @ Newport Pier restaurant with a menu similar to the menu attached hereto as Exhibit "A ", and commence operations as a restaurant to the public no later than January 1, 2014. .1D G1fe ,gc5T 3. Term. The term of this Sublease (the "Initial Term ") shall commence on the Commencement Date (as hereinafter defined) and shall expire on July 26, 2023, unless earlier terminated in accordance with the terms of this Sublease or applicable law. As used herein, the "Commencement Date" means the date on which this Sublease is executed by the last of the parties hereto. Subtenant shall have the right to renew or extend the Term for four (4) additional terms of five (5) years (a "Renewal Term" and collectively with the "Initial Term ", the "Sublease Term "), provided, however, Sublessor renews the term under the Prime Lease and Subtenant is not in 1