Reso 2003-604 - Laserfiche WebLink

Home Browse Search

In consideration of the rents and covenants set forth below, Landlord (as hereinafter defined) hereby leases to Tenant (as hereinafter defined), and Tenant hereby leases from Landlord, the Premises (as hereinafter defined), upon the following terms and conditions: ARTICLE I FUNDAMENTAL LEASE PROVISIONS The provisions in this Article shall be referred to in this Lease as the "Fundamental Lease Provisions." Unless otherwise defined herein, capitalized terms used in this Lease shall have the meanings listed in the Fundamental Lease Provisions. Commencement Date: July 28 ,2003 Landlord: City of Sunny Isles Beach 17070 Collins Avenue, Suite 250 Sunny Isles Beach, Florida 33160 Tenant: Romacorp, Inc. 9304 Forest Lane Dallas, Texas 75243 FAX: (214) 343-7777 Tenant's EID No.: 13-4010466 Premises: 18050 Collins Avenue Sunny Isles Beach, Florida 33160 Initial Term: 20 years, commencing on the Commencement Date Renewal Terms: 2 terms of 5 year(s) each, with rent due thereunder at the then existing fair market as determined by Landlord in its sole reasonable discretion. Base Monthly Rent: $20,000.00, subject to proration and adjustment as provided in Article 2 Percentage Rent: 8 % of Net Sales Permitted Use: A Tony Roma's restaurant ARTICLE 2 TERM AND RENT 2.1 Term. The Initial Term of this Lease shall be as set forth in the Fundamental Lease Provisions. Provided Tenant is not then in default under this Lease, Tenant shall have the option to extend the Initial Term by the number of successive Renewal Terms described in the Fundamental Lease Provisions by giving Landlord written notice of its election to extend the