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Ordinance 2024-612
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Ordinance 2024-612
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Last modified
7/10/2024 2:33:31 PM
Creation date
7/10/2024 12:47:53 PM
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CityClerk-Ordinances
Ordinance Number
2024-612
Date (mm/dd/yyyy)
05/16/2024
Description
Approving a Lease Agreement btwn SIB and La Playa Beach Associates, LLC for leased permises at 18590 Collins Ave.
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DocuSign Envelope ID: 2F824D49-F88D-4ED1-8861-25C6564470E2 <br />EXECUTION COPY <br />(a) All monetary and non -monetary defaults existing prior to the breach or <br />default referenced above shall be cured within the time specified above <br />thatshall include all costs and attorneys' fees expended by LESSOR to the <br />date of curing the default. <br />(b) All obligations of the LESSEE must be performed in accordance with the <br />terms of this Lease. <br />If at any time during the pendency of the bankruptcy proceeding the LESSEE or its successor in <br />interest fails to perform any of the monetary or non -monetary obligations under the terms of this <br />Lease, or fails to cure any pre -filing default, or fails to make additional security deposit required <br />under the Lease for the adequate assurance of future performance clause above, the LESSEE <br />HEREBY STIPULATES AND AGREES TO WAIVE ITS RIGHTS TO NOTICE AND <br />HEARING AND TO ALLOW THE LESSOR TOTAL RELIEF FROM THE AUTOMATIC <br />STAY UNDER 11 U.S.C.§ 362 TO ENFORCE ITS RIGHTS UNDER THIS LEASE AND <br />UNDER STATE LAW INCLUDING BUT NOT LIMITED TO ISSUANCE AND <br />ENFORCEMENT OF A JUDGMENT OF EVICTION, WRIT OF ASSISTANCE AND WRIT <br />OF POSSESSION. <br />11.7 Condemnation. LESSEE may prosecute any claim of loss or damage, and any <br />right or claim to any part of an award that results from the exercise of eminent domain power of <br />any governmental body, regardless of whether the loss or damage arise because of condemnation <br />of all or part of the Leased Premises. If a partial taking or condemnation renders the Leased <br />Premises unsuitable for LESSEE's purposes under this Lease, the LESSEE shall have the option <br />to terminate this Lease. If an eminent domain power is exercised, LESSEE shall have a claim for <br />the unamortized portion of LESSEE's capital investment in renovating the Leased Premises and <br />making the improvements specified herein against LESSOR for the value of an unexpired term of <br />this Lease. <br />11.8 Holding Over. LESSEE will, at the termination of this Lease by lapse of time or <br />otherwise, yield up immediate possession to LESSOR. If LESSEE retains possession of the Leased <br />Premises or any part thereof after such termination, then LESSOR may at its option, serve written <br />notice upon LESSEE that such holding over constitutes any one of: (i) renewal of this Lease for <br />one year, and from year to year thereafter, (ii) creation of a month to month tenancy, upon the <br />terms and conditions set forth in this Lease, or (iii) creation of a tenancy at sufferance, in any case <br />upon the terms and conditions set forth in this Lease; provided, however, that the rent shall, in <br />addition to all other sums which are to be paid by LESSEE hereunder, whether or not as additional <br />rent, be equal to double the rent being paid to LESSOR under this Lease immediately prior to such <br />termination. If no such notice is served, then a tenancy at sufferance shall be deemed to be created <br />at the rent in the preceding sentence. LESSEE shall also pay to LESSOR all damages sustained <br />by LESSOR resulting from a retention of possession by LESSEE, including the loss of any <br />proposed subsequent LESSEE for any portion of the Leased Premises. The provisions of this <br />Section shall not constitute a waiver by LESSOR of any right of re-entry as herein set forth; nor <br />shall receipt of any rent or any other act in apparent affirmance of the tenancy operate as a waiver <br />of the right to terminate this Lease for a breach of any of the terms, covenants or obligations herein <br />on LESSEE's part to be performed. <br />21 <br />
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