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Reso 2014-2198
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Reso 2014-2198
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Last modified
1/8/2015 2:41:29 PM
Creation date
4/3/2014 11:12:41 AM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2014-2198
Date (mm/dd/yyyy)
02/20/2014
Description
1st Amd to Sublease Agmt w/Amer Fed. Title & Beach Bar Newport Pier
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preceding the Sublessor's exercise of its option to terminate ( "Termination RC) plus return of the <br />$375,000,00 Capital Investment. The effective date of the termination ( "Termination Date ") <br />shall be no less than thirty (30) days from Sublessor's notice. Provided that Subtenant <br />timely delivers possession of the Sublease Premises to Sublessor as of the Termination <br />Date in good' and broom swept condition, reasonable wear and tear excepted, and <br />Subtenant is not in default of the Sublease as of the Termination Date, then Sublessor shall <br />pay to Subtenant the Termination fee within thirty (30) days from the Termination Date, <br />providing all debts and obligations, including rent, shall have been paid. If Sublessor <br />exercises the termination option herein, termination shall not be effective unless the <br />City receive thirty (30) day's notice of the termination. Sublessor shall continue to pay rent <br />set forth hereinafter termination. <br />11. Definitions. Initially capitalized terms not expressly defined in <br />this Amendment have the meanings provided in the Sublease, except that the <br />definition of Prime Lease shall include any amendment thereto. <br />12. Miscellaneous. This Amendment shall be governed by and construed <br />in accordance with the laws of the State of Florida and shall be binding upon and inure <br />to the benefit of the parties hereto and their respective heirs, successors, representatives and <br />permitted assigns. Time is of the essence of all of the terms hereof. In the event of any <br />inconsistency or conflict between the terms of the Sublease and of this Amendment and <br />the terms hereof, the terms hereof shall control. Other than as expressly amended <br />hereby, the Sublease shall remain in full force and effect. The headings and titles in <br />this Amendment are solely for convenience of reference and shall not affect its <br />interpretation. This Amendment may not be changed, modified, discharged, or <br />terminated orally in any manner other than by an agreement in writing by Landlord, <br />Sublessor and Sublessee. <br />IN WITNESS WHEREOF, the parties herein have hereto set their hands and seals, the day <br />and year first above written. <br />(SIGNATURES APPEAR ON FOLLOWING PAGE) <br />Page 4 of 6 <br />
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