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RESOLUTION NO. 2017 - 21' <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br /> SUNNY ISLES BEACH, FLORIDA, RATIFYING THE FIRST <br /> AMENDMENT TO TRIPLE NET LEASEBACK AGREEMENT <br /> WITH BEACH CLUB ACQUISITION,LLC FOR THE PROPERTY <br /> LOCATED AT 215-185TH STREET, ATTACHED HERETO AS <br /> EXHIBIT"A"; AUTHORIZING THE CITY MANAGER AND CITY <br /> ATTORNEY TO DO ALL THINGS NECESSARY TO EFFECTUATE <br /> THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. <br /> WHEREAS, the City entered into a Triple Net Leaseback Agreement dated July 29, 2016 <br /> with Beach Club Acquisition, LLC for the property located at 215 - 185 Street, Sunny Isles Beach; <br /> and <br /> WHEREAS, in Section 17 of the Agreement, "Approved Lender" refers to HSBC Bank <br /> USA which has been replaced by Bank of Ozarks; and <br /> WHEREAS,this First Amendment reflects the change in the notice requirements of the new <br /> Approved Lender. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br /> CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: • <br /> Section 1. Ratifying the First Amendment to the Triple Net Leaseback Agreement. The City <br /> Commission hereby ratifies the First Amendment to Triple Net Leaseback Agreement between the <br /> City and Beach Club Acquisition, LLC, attached hereto as Exhibit "A". <br /> Section 2. Authorization of City Manager and City Attorney. The City Manager and City <br /> Attorney are hereby authorized to do all things necessary to effectuate this Resolution. <br /> Section 3. Effective Date. This Resolution will become effective upon adoption. <br /> PASSED AND ADOPTED thisZl�ay of September, 2017 <br /> . George .'. Scholl, Mayor <br /> ATTE 1 <br /> •Mauricio Betancur; MC, Acting City Clerk <br /> ' it <br /> Ratifying First Amendment Page 1 of 2 <br />