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EXECUTION COPY
<br />LEASE AGREEMENT
<br />THIS LEASE AGREEMENT ("Lease"), is made and entered into this S*day of February,
<br />2025 (the "Effective Date"), by and between:
<br />CITY OF SUNNY ISLES BEACH, a municipal corporation
<br />organized under the laws of the State of Florida, whose principal
<br />address is 18070 Collins Avenue, FL 33160 (hereinafter "LESSOR"
<br />or "CITY"),
<br />And
<br />CREMA DOWNTOWN CORP., a corporation organized under
<br />the laws of the State of Florida, whose principal address is 249 E.
<br />Flagler Street, Miami, FL 33131, and whose Federal Employer
<br />Identification No. is 85-3008779 (hereinafter "LESSEE").
<br />WHEREAS, LESSOR is the owner, in fee simple; together with the property and rights included
<br />therein, of that certain parcel of property located at 18050 Collins Avenue, Sunny Isles Beach, as more
<br />particularly described in the legal description set forth in Exhibit "A" (the "Property"); and
<br />WHEREAS, LESSEE desires to lease a portion of the Property, as more particularly depicted
<br />in Composite Exhibit `B" (the "Leased Premises"), as an all -day caf6 and restaurant, from LESSOR,
<br />and LESSOR has agreed to lease the same to LESSEE upon the following terms and conditions; and
<br />WHEREAS, at its regular meeting of November 21, 2024, the City Commission of the City of
<br />Sunny Isles Beach authorized execution of a Lease with LESSEE for the Leased Premises;
<br />NOW, THEREFORE, the Parties hereto, acknowledging that the foregoing Recitals are true
<br />and correct, intending to be legally bound hereby, and in consideration of the rents and covenants of
<br />LESSEE to be paid and kept as herein contained, LESSOR has agreed to lease unto LESSEE, and by
<br />these presents does hereby lease the Leased Premises unto LESSEE, and the LESSEE hereby leases the
<br />Leased Premises from LESSOR, and the Parties do covenant and agree as follows:
<br />1. LEASED -PREMISES. LESSOR hereby leases to LESSEE, and LESSEE hereby leases
<br />from LESSOR, the following described premises:
<br />1.1. The Leased Premises, consisting of approximately 1,440 square feet of interior
<br />space, and approximately 2,005 square feet of exterior space, of the Property located at 18050 Collins
<br />Avenue, Sunny Isles Beach, Florida 33160, as more particularly depicted in Composite Exhibit `B."
<br />1.2. Together with the non-exclusive right to use in common with LESSOR, its
<br />employees, visitors, and invitees, and LESSEE's employees, invitees, and customers, the exterior
<br />driveways and entranceways, sidewalks, patios, and parking areas located at the Property (collectively
<br />"Common Areas"), as depicted in Composite Exhibit `B," provided that the LESSOR retains the right
<br />to make reasonable rules and regulations with reference to the use of parking areas, including the right
<br />LEASE AGREEMENT - CREMA DOWNTOWN CORP. Page 1 of 36
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