Reso 2010-1658 - Laserfiche WebLink

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15-day period. Such payment with interest thereon at a rate which is the lesser of eighteen percent (18%) per annum or the highest non-usurious rate permitted by applicable law shall be Additional Rent due from Tenant to Landlord at the next rental payment day following such payment. Section 4. Refunds. Tenant shall be entitled to any refund of any such Imposition and penalties or interest thereon which have been paid by Tenant or which have been paid by Landlord and for which Landlord has been fully reimbursed by Tenant. Section 5. Utilities. Tenant covenants to pay all public and private charges for water, sewer, electricity, gas, telephone and other utility services used in or upon the Land and the Improvements during the Term from and after the date the Final Approvals are obtained and vacant, unencumbered possession of the Land has been delivered to Tenant. ARTICLE V Facilities/Development Approvals; Use Section 1. Facilities. The Landlord acknowledges and agrees that Tenant intends on constructing an Aquatic Entertainment Complex consisting of a state of the art aquatic entertainment facility which shall offer educational elements such as a working marine laboratory where numbers of the public can interact and learn about marine life, fish farming, marine biology, aquaculture and marine plant life. The Aquatic Entertainment Complex shall feature two (2) large ceiling tanks as more specifically described in Exhibit "C". For purposes of this Lease, the Aquatic Entertainment Complex shall be referred to as the Tenant's "Improvement". Landlord further acknowledges and agrees that Tenant on behalf of Landlord intends on constructing a park and parking garage as described in Exhibit "C" on Landlord's property. For purpose of this Lease, the park, parking garage, and limited retail space, shall be referred to as "LandIord's Public Facilities." Section 2. Design/Development Approvals. Tenant may not construct any Tenant's Improvements or construct Landlord's Public Facilities until the plans and designs for such improvements and Public Facilities have been submitted to, and approved by the City in accordance with the development review process set forth in the Code of the City of Sunny Isles Beach. Certain provisions of this Lease will require the City and/or its boards, departments or agencies, acting in their governmental capacity to consider certain changes in the City's Comprehensive Plan or Zoning Ordinances as well as to consider taking other governmental actions. The term "Development Approvals" as used in this Lease shall mean all City approvals, consents, permits, amendments, rezonings, special use exemptions or variances as well as such other official actions of the federal, state or local governments which, are necessary to develop the Proposed Tenant's Improvements and Landlord's Public Facilities upon the Parcels as contemplated by this Lease, including, without limitation, those development approvals required by the City Code or applicable law. 7 U:\City Attorney\HANS\20 1 0 Documellts\4m Illvestors\GROUND LEASE WORKING DRAFT 11.16.1 O.doc