Reso 2019-2940 - Laserfiche WebLink

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AMENDMENT TO TRIPLE NET LEASEBACK AGREEMENT THIS AMENDMENT TO TRIPLE NET LEASEBACK AGREEMENT (this • "Amendment")dated effective as of the 714 day of 0 2019(the"Effective Date")by and between THE CITY OF SUNNY ISLES BEACH, FLORIDA, a body corporate and politic organized under the laws of the State of Florida (hereinafter"Landlord")and CORNER HOUSE, LLC, a Florida limited liability company ("Tenant"). RECITALS WHEREAS, Landlord and Tenant executed a Triple Net Leaseback Agreement on February 23,2016 (the"Lease") for the property identified as 15800 Collins Avenue, Sunny Isles Beach, Florida 33160; WHEREAS, the Landlord and Tenant wish to amend the Lease upon certain terms and conditions provided herein; NOW, THEREFORE, for$10.00 and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: I` 1. Recitals.The Recitals to this Amendment are true and correct and are hereby incorporated herein. i 2. Defined Terms. All capitalized terms used in this Amendment, unless otherwise defined herein, shall have the meanings set forth in the Lease Agreement. 3. Termination Date.The Parties agree that the expiration date of the Lease shall be extended 1 to October 16,2020(the "Termination Date"). 4. Renewal Option.Notwithstanding anything contained in the Lease,Tenant shall have the right to extend the term for an additional six (6) months (the "Option Period") from the Termination Date. In order to exercise the option herein granted, Tenant must give written notice to Landlord of Tenant's intention to exercise the option not less than thirty(30) days prior to the Termination Date. All of the terms, covenants and conditions set forth in the Lease shall apply during the Option Period_ 5. Termination Option.Notwithstanding anything contained in the Lease, Tenant shall have the right to terminate the Lease at any time upon thirty (30)days written notice to Landlord. 6. Multiple Originals. This Amendment is fully executed and delivered by the parties in triplicate identical original instruments, any of which may be introduced into evidence in any proceeding as conclusive proof of the terms thereof. Landlord acknowledges receipt of two, and Tenant acknowledges receipt of one of such fully-executed original instruments. 7. Authority of Tenant. Tenant and the signatory executing this Amendment on its behalf represent and warrant that this Amendment has been duly authorized, executed, and delivered by