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THIS LEASE AGREE1VlW ( the ` rose-) is made and emW into this 2�`day of <br />2013, by and between the Cn Y of SUNNY ISLES BEACK a mmc*d <br />WVAFV.0VU of the State of Florida (hereinaRer refen+ed to as "CITY", or "LESSOR') and <br />AMERICAN FEDERATED TITLE CORP. AS TRUSTEE UNDER FLORIDA LAND TRUST <br /># 3258, (herainatler re&wa to as "LFSSEEn. <br />WITNFSWM: <br />WHEREAS, pursuant to Letter Apvernent dated Novel 25, 2008, the LESSOR and <br />DR. ROBERT CORNFEI.D, President of LESSEE, entmW into a public/private partnership <br />agreemM to rebuild the historic Newport Fishing Pier (the "Merl; and <br />WHEREAS, the partnership agwinent requires President of LESSEE to contribute a <br />maxhu m of $2 Million Dollars to rebuild the Pier and the LESSOR to contribute more than $2 <br />Whon Dollars towards rebuilding the Pier, and <br />WHEREAS, the parties wish to amend the terms of the Letter Agreement, to provide the <br />LESSEE with the exclusive right to manage and operate the bier, and to lease die restaurant <br />facilities and bait shop to the LESSEE; and <br />WHEREAS, LESSOR owes certain real property loca W m Miami Dade County, <br />Florida as more particularly desalted in Exhibit "V, a copy is attached to this Lease and <br />incorporated herein by reference (the "Parcel') upon which LESSOR constructed a fishing Pies <br />as more particularly described in Exhibit "B ", a copy of which is also atbeched to this Lease and <br />incorporated herein by reference, ad <br />WHEREAS, LESSOR desires to lease to LESSEE, and LESSEE desires to lease from <br />LESSOR a portion of the Pier as more particularly described on Exhibit "C", a copy of which is <br />attached to this Lease and incorporated by reference and made a part hereof (the "Premises') for <br />the puupose stated in this Lease, subject to the terms and conditions oflhis Lease, <br />NOW'' I in consideration of the premises ad mutual covenants hereinaft <br />contained to be observed and performed, the parties hereto do hereby covenant and agree as <br />follows: <br />SECMON1 . FUNDMENTAL LEASE PROVISIONS <br />The provisions in the Section shall be referred to in this Lease ea the "Fundamental Lease <br />Provisions." Unless otherwise defined herein, capitalized terms used w this Lease shall have the <br />meanings listed in the Fundamental Lease Provisions. <br />Effective Date: The term Effective Date shall mean the date of mutual execution and <br />delivery of tins Lease. <br />Rent Commencement Date: The date upon which LESSEE is required to make its initial <br />rent payment to the LESSOR <br />