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SF F i <br />C� a� <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947 -0606 City Hall <br />(305) 949 -3113 Fax <br />MEMORANDUM <br />TO: The Honorable Mayor and City Commission <br />FROM: Christopher J. Russo, City Manager <br />DATE: 10/17/2013 <br />RE: Sublease Agreement with American Federated Title Corp., As <br />Trustee under Florida Land Trust #3258 and Sunny Isles Beach <br />Quarterdeck, LLC. <br />RECOMMENDATION: <br />This Resolution is presented for your consideration. <br />REASONS: <br />American Federated Title Corporation, as trustee under Florida Land Trust #325E <br />( "American Federated ") is the tenant under that certain Lease Agreement datec <br />July 26, 2013, between the City of Sunny Isles Beach ( "City ") and Americar <br />Federated, as tenant, (the "Prime Lease ") regarding the lease of the premisec, <br />located at 16501 Collins Avenue, Sunny Isles Beach, Florida 33160 (the "Prime <br />Lease Premises ") consisting of an entire building (the "Building ") in the project <br />known as Newport Fishing Pier in the City. <br />American Federated desires to sublease to Sunny Isles Beach Quarterdeck, LLC <br />a Florida limited liability company or assigns ( "Quarterdeck ") the entire Leasec <br />Premises which consist of a restaurant facility, bait shop, second floor of <br />restaurant facility and additional outdoor dining area in the Prime Lease <br />Premises, subject to the following terms and conditions: <br />Obligations of the City: <br />1. Pay for costs in the amount not to exceed $40,000.00 for modifying windows <br />and doors in the Building in accordance with reasonable specifications of <br />Quarterdeck. In lieu of cash payment of the window, the City reserves the right to <br />Agenda Item No. IOR <br />Date 10/17/2013 <br />266 <br />