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<br />Business Lease
<br />
<br />THIS AGREEMENT, entered into thjs~day of August 1'997
<br />between R. K. ASSOCIATES, hereinafter called the lessor, party of the first:
<br />of Sunny Isles Beach
<br />
<br />p;Jrl. Ci ty
<br />and
<br />of the County of DADE and State of FLORIDA hereinafter called the Lessee I
<br />or T cnanl, party of lhe second par!:
<br />WITNESSETH. That the said Lessor does this day Jease unto said Lessee
<br />;jncl s::lid Lessee does hereby hire and take as Tenant under said Lessor Space '
<br />
<br />No,
<br />
<br />17070 Collins Avenue, Suite 250,251,252; Sunny Zsles Beach, Fl.
<br />Situate In DADE COUNTY, STATE OF FLORIDA, for the term of
<br />, 'i-<f'f" t
<br />beginningthe~day of ~
<br />
<br />I
<br />1997, :
<br />
<br />Six (6) Years
<br />
<br />aneJ cnding the 31 st day of August
<br />at and for the agreed rental, payable as follows:
<br />IN ADVANCE ON THE FIRST DAY OF EACH AND
<br />WITHOUT D.EMAND, DEDUCTION OR SETOFF AT;
<br />Seventeen ThOusand dnll~r~ ($17.000.00)
<br />PER MONTH;
<br />EQUALING Two Hundred Four Thousand Dollars
<br />!lASE RENT
<br />
<br />,19 2003
<br />
<br />I o<lD
<br />I .
<br />......./.1
<br />
<br />EVERY MONTH.'.
<br />
<br />BASE RENT I" ,
<br />($ 204, l}..'WN8~l
<br />
<br />;1""
<br />
<br />I
<br />And ::lddilional rent as hereinafter set forth in thIs lease; plus aI/taXes in the nature of sales, :
<br />'''''" or ","liar laxes now or hereafter assessed or levied by any taxing authority upon the payment of fi>:ed I
<br />renl or "OUllional ren! as hereinafter defined. ,
<br />
<br />COMMENCING JANUARY 1, . 2004 AND ON EACH SUBSEQUENT'
<br />JANUARY 1 OF THE ORIGINAL LEASE TERM AN'DALL OPTION PERIODS, THE BASE:
<br />m:rn WILL BE INCREASED ANNUALLY BY FIVE (5%) PERCENT, OVER THE'
<br />PHEVIOUS YEAR'S BASE RENT.
<br />
<br />lCU.8C. upon the execution of this h:.50, agr.es to pay tha amount or S nOne _ 0_ Which
<br />!.11.J1l ue helLl DS security ret the Leuee's performaneo as herein provided ..net retunded.to the Leueo .t the end of this!
<br />Ic.;c ,u!>lcCI 10 Ihc l."..'. .ali.laclory compliance with tho conditions hor.or, as sUpulat.d, In parag"'ph 17 or this;
<br />1l!.I';oC
<br />
<br />All payments /0 be made to the Lessor on the filS! day of each and eveI)' month in :
<br />adviJllcc wilhoul demand at the office of R.K. ASSOCIATES 17100 CoWns Avenue, #225, Miami,
<br />Bc~ch, Florid~ 33160 or at such olher place and to such other person, as the Lessor may from
<br />"mc 10 limc designale in wrillng.
<br />
<br />FIRST; USE: II i. hereby und.rslood and agreed that the U.e of th.teased premises Is limited to
<br />
<br />Cit Of Sunn Isles Bea . and ror no oth.r purposes
<br />whatsoever. Any violation ot lh. agreed USlI, or any type of disturbance or InterferClJ1ee With any other Ten.or. use
<br />d.Ju:.c:. tll.J~lnc:.s and/or exclusivity will be a \tial.lion or this I...e agreement In the evant th.... is a violat;on of this
<br />">c ",,",cll.Hor .hall retain the rlghl al ito 101. option to termin.t. lI1il 1..la ag....m.nt Imm..o..t.'y, NOlhing
<br />conl","llcu ill IhlS Ic.ne shall gi,,'Q the loucc any right to demand perfotmanc. by or trom any other l...... or from the
<br />l~:'l'>l)r Mor~ovol. violalion o( this clauu by Ql'\Olher Tenant located at the Shopping center at which th.'c...d
<br />11' Clllt~C~ Jrc a p.ut or ~hall net parmit the Lessee to have the same violation or otherwise operllte as a waiver or
<br />Lc~:;or'~ liUhls in Ihis Icase.
<br />
<br />SECOND: ASSIGNMENT ..sUBLEASING; Th. leu.. shall not ...Isn this 'Qa'I, nOflub--ler the
<br />pl('llll~C:', UI imy part lhcrcof. without LeuOI's written permlsston. In the event LUlor SJtant. L..... the Ifght to
<br />~ulJlcl. II j~ fully iiI!)rctd und understood that less.. will bo responsible forcompteUng all necessary Improvements In
<br />orc!cr 10 (('Iralit lhe leased premises ror occupancy. L.lSce sh.1I continue to remain fully rQspo~lbl. for all Obligations
<br />due l..mdcr till: terms of the lease agreement.
<br />
<br />THIRD: PIORSONAl PROPERTY-LESSEE'S RESPONSIBILITY: All personal property plac.d or
<br />moved In lhc prellllses above descrjbed shall be at the risk: of the Lessee or owner thereof. Lessor, any agent of the
<br />lc"or, ondlor any principal of tho L.uor .hall not be lIabl. lor lI/IY lI/Id all dam.g. III .oid perlonal propert)c, to the I
<br />lc"cc JII~lng Irom lhc bursting or Ic.king of water pipe., from any act or negllgen.e ot any co-Tenant or occupant of
<br />the lJulldll1~~ ot of C1ny olller person whomsoever.
<br />
<br />fOURTlt: COMPLIANCE WITH LAWs: Th. L..... shall prompUy execute and comply with all
<br />statutn, orulnanccs, (\.lIes, orders, regulations and requirements of any applicable ,Federal, Stato a"delty Government
<br />~nu 01 .:Jny .:md ~II their Oep:utmtllnts and Burea.u$ including any Taxing Author!ty or Utlllty: and Less.~ shall also
<br />promptly comply with all rules, orders and regulations of the applicable fire prevention ,"odes for the prevention of fires,
<br />.)11 oJe ll:~!>CC':' O'.\I'n co~l and cl'pc:nsc.
<br />
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