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<br />Business Lease
<br />
<br />THIS AGREEMENT, entered into this~day of May 1998
<br />between R. K. ASSOCIATES, hereinafter .called the Lessor, party of the first
<br />purt,~nd city of Sunny Isles Beach
<br />of the County of DADE and State of FLORIDA hereinafter called the Lessee or
<br />Tenant, party of the second part:
<br />WITNESSETH, That the said Lessor does this day lease unto said Lessee, and
<br />said Lessee does hereby hire and take as Tenant under said Lessor Space.
<br />No. 17070 Collins Avenue'#250-256 Sunny Isles Beach, Florida
<br />
<br />Situate In DADE COUNTY, STATE OF FLORIDA I for the term of
<br />Seven (7) Years Eight (8) Months beginning the 1 st day of May
<br />
<br />1998,
<br />
<br />and ending the 31 s t day of December 2005
<br />at and for the agreed rental, payable as' follows:
<br />IN ADVANCE ON THE FIRST DAY OF EACH AND EVERY MONTH WITHOUT
<br />DEMAND, DEDUCTION OR SETOFF AT:
<br />'l'hirty Thousand Dollars ($30,000.00) BASE RENT PER MONTH;
<br />EQUALING Three Hundred Sixty Thousand Dollars ANNUAL BASE RENT
<br />.. . ., ($360,OOp.00)
<br />And additional rent as hereinafter set forth In this lease; plus all taxes In the nature of sales,
<br />use or similar taxes now or hereafter assessed or levied by any taxing authority upon the payment of fixed
<br />rent or additional rent as hereinafter defined.
<br />
<br />COMMENCING JANUARY 1, 20~ AND ON EACH SUBSEQUENT
<br />JANUARY 1 OF THE ORIGINAL LEASE TERM AND ALL OPTION PERIODS, THE BASE
<br />RENT WILL BE INCREASED ANNUALLY BY FIVE (5%) PERCENT, OVER THE PREVIOUS
<br />YEAR'S BASE RENT.
<br />Lessee, upon the execution of this lease, agrees to pay the amount of $ none ~ 0 - which
<br />shall be held as security for the Lessee's performance as herein provided and refunded to the Lessee at the end of this
<br />leasq subject to the Lessee's satisfactory cOf!1pliance with the conditions hereof, as stipulated in paragraph 17 of this
<br />lease,
<br />All payments to be made to the Lessor on the first day of each and every month in
<br />advance without demand at the office of R.K. ASSOCIATES 17100 Collins Avenue, #225, Miami
<br />Bcacll, Florida 33160 or at such other place and to such other person, as the Lessor may from
<br />tJll18 to time designate in writing.
<br />
<br />FIHST: USE: It is hereby understood and agreed that the use of the leased premises is limited to
<br />Governlllent Center, City Hall,Police Station, Building Department
<br />und ull related uses
<br />and lor no other purposes whatsoever. Any violation of the agreed use, or any type of disturbance or interference with
<br />any other Tenant's use clause, business and/or exclusivity will be a violation of this lease agreement. In the event there
<br />is a violation of this use clause. Lessor shall retain the right at it~ sole option to terminate this lease agreement
<br />immediately. Nothing contained in this lease shall give the Lessee any right to demand performance by or from any
<br />olller Lessee or from the Lessor. Moreover, violation of this clause by another Tenant located at the shopping center of
<br />which the leased premises are a part of shall not permit the Lessee to have the same violation or otherwise operate as
<br />a waiver of Lessor's rights in this lease. .
<br />
<br />SECOND: ASSIGNMENT-SUBLEASING: The Lessee shall not assign this lease, nor sub-let the
<br />premises, or any part thereof, without Lessor's .written permission, In the event Lessor grants Lessee the right to
<br />sublet, It is fully agreed and understood that Lessee will be responsible for completing all necessary improvements in
<br />order to retrofit the leased premises for occupancy. Lessee shall continue to remain fully responsible for all obligations
<br />due under tile terms of the lease agreement.
<br />
<br />THIRD: PERSONAL PROPERTY-LESSEE'S RESPONSIBILITY: All personal property placed or
<br />moved in the premises above described shall be at the risk of the Lessee or owner thereof. L:~ssor, any agent of the
<br />Lessor, and/or any principal of the Lessor shall not be liable for any and all damage to said p.ersonal property, to the
<br />Lessee arising from the bursting or leaking of water pipes, from any act of negligence of any ~o-Tenant or occupant of
<br />the building or of any other person whomsoever. '.
<br />
<br />FOURTH: COMPLIANCE WITH LAWS: The Lessee shall promptly execute and comply with all
<br />stat~tes, ordinances, rules, orders, regulations and requirements of any applicable Federal, State and City Government
<br />and of any and all their Departments and Bureaus including any Taxing Authority or Utility;' and Lessee shall also
<br />promptly COin ply with all rules, orders and regulations of the applicable fire prevention codes for the prevention of fires,
<br />all at Lessee's own cost and expense,
<br />
<br />FIFTH: FIRE-CASUALTY: In the event the premises shall be destroyed or so damaged or injured by
<br />fire or other casualty during the life of this agreement, whereby the same shall be rendered untenantable, then the
<br />Lessor shall have the right to render said premises tenantable by repairs within ninety days therefrom. If said premises
<br />are not rendered tenantable within said time, it shall be optional with either party hereto to cancel this lease, and in the
<br />event of such cancellation the rent shall be paid only to the date of such fire or casualty. The cancellation herein
<br />mentioned shall be evidenced in writing. Notwithstanding anything to the contrary contained herein, Lessee shall be
<br />required to pay all rent and operating expenses during any period in which the premises are rendered untenantable,
<br />eIther (rom their own source of funds or through their business interruption coverage which Lessee is required to carry
<br />
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