Reso 2017-2730 - Laserfiche WebLink

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FIRST AMENDMENT TO TRIPLE NET LEASEBACK AGREEMENT This FIRST AMENDMENT TO TRIPLE NET LEASEBACK AGREEMENT (this "Amendment") is made as of the ,14 `day of July, 2017, by and between THE CITY OF SUNNY ISLES BEACH FLORIDA, a body corporate and politic organized under the laws of the State of Florida ("Landlord") and BEACH CLUB ACQUISITION, LLC, a Florida limited liability company("Tenant"). WITNESSETH: WHEREAS, pursuant to the terms and conditions of that certain Triple Net Leaseback Agreement, dated July 29,2016, by and between Landlord and Tenant(the"Lease Agreement"), Tenant is presently leasing from Landlord the Property(as defined in the Lease Agreement); WHEREAS, Landlord and Tenant desire to amend certain terms and provisions of the Lease Agreement. NOW, THEREFORE, in consideration of the foregoing premises, and such other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant, intending to be legally bound, hereby agree as follows: 1. Incorporation of Recitals. The foregoing recitals are hereby incorporated in this Amendment and made a part hereof by this reference. 2. Definitions. All capitalized terms used herein shall have the meanings ascribed to them in the Lease Agreement,unless otherwise defined herein. 3. Amendments to Lease Agreement. (a) The Lease Agreement is hereby amended so that all references to the term "Approved Lender" shall, from and after the date hereof, refer to "Bank of the Ozarks" and all references to "HSBC Bank USA, National Association" are hereby deleted in their entirety. (b) The notice address for the Approved Lender contained in Section 17 of the Lease Agreement is hereby amended and restated in its entirety to provide as follows: "If to Approved Lender: Bank of the Ozarks 8201 Preston Road Suite 700 Dallas,Texas 75225 Attn: Brannon Hamblen EXHIBIT "A"