Reso 2011-1824 - Laserfiche WebLink

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STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION SECOND ADDENDUM TO AIRSPACE AGREEMENT Item/Seg. No. : 248953/2489741 F.A.P. No. 268012U/6268009U Sec./Job No. : 87070-2514/87170-2517 Managing District :. Six S.R. No. 826 (N.W. 163 St.) County Miami-Dade Parcel No. 3129 (Parts A, B, C & D) THlS AGREEMENT SHALL SERVE AS A SECOND ADDENDUM to that certain Airspace Agreement and Addendum to Airspace Agreement between THE STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION (Lessor) and CITY OF SUNNY ISLES BEACH (Lessee), and hereinafter collectively known as the "Parties", dated the 31st day of July 2009. In addition to the provisions contained in said Airspace Agreement, the following terms and conditions shall be deemed to be a part thereof pursuant to Paragraph 9 (b) of said Agreement. WHEREAS the Lessee has installed Master Parking Meters and has been collecting fees for vehicles parking in the leased parcel since October 24, 2011; THEREFORE, in accordance with the terms of the Paragraph 3 of the first Addendum to Airspace Agreement, the terms and conditions of the Airspace Agreement are changed as follows: Paragraph 3. RENT. The Parties agree that the Lessee shall pay Lessor, as rent, forty (40%) percent of all gross revenues collected from the use of the leased area. The Parties further agree the Lessee shall bear all expenses and operational costs from its sixty percent (60%) share of all gross revenues. Revenues shall be described as any and all revenues received from the Lessee as a result of the use of the leased area, including but not limited to metered parking, parking for fee, and recreational and vending concessions, if any. Rent payments shall be made quarterly on or before the 1 st day of the third month following the preceding three months in which such revenues were received commencing on October 24, 2011. Each quarterly payment shall be accompanied by a Lessee's signed statement which shall state the total amount of revenues for the period covered and the computation of the rental payment due Lessor. In addition, the Lessee shall provide the Lessor with an annual statement of the proceeds for each 12-month period of the term, within 30 days from the end of the prior 12-month period; such annual statement to be signed by the Lessee and certified by a Certified Public Accountant. The Lessee shall maintain a set of books, accounts and records covering the operations that are subject to this Agreement, said books, accounts and records to be of the same types as those customarily used in these types of operations in accordance with accepted accounting practices and standards for such period of time as is provided herein. Lessor shall be permitted upon three-business days prior written notice to