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Scotty's Lease Agreement

Scotty's Lease Agreement

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Published by: al_crespo on Jul 07, 2012
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09/19/2014

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'.
ADDBNDUM
ftXSADDBNDUM
'1'0~
LEASEAGREEMENTbetweentheCity
.D~
HiaJai.
a
.unicipal
corporationo~the
State
ofFloridahere1aii£ter
called
the
-City·
andGrove
Key
Marina.
Inc••
a
Floridacorporation,hereinaftercaJ.1edthe·company·.adds
cert:a1n
provisionsto
that
Lease
AgreeJll8nt:deandentered
into
betweenthepartiesonApril1.
1976.
WllEBEAS.
theCitycoiamissionadoptedResolution
76-307
authorizinganddirectingtheCityMan~gertoexecute
a
LeaseAgreeJQentwith·theCompanyfortheeightyearperiodbeginningJUly
1,1976
andendingJune
30,198~;
andWREBEAS,saidLeaseAgreementelatedApril1,1976(hereinafterthe-LeaseAgreement")providedthattheCompany
and
theCitysballnegotiateforconstructingaqdoperating
a
restaurantfacilityontheleasedpremises.withthetermsandconditionsrelatingtothisfoodandbeveragefacility
to
bedetermined
by
mutualagreementbetweentheCityandtheCompanyandsubjecttoapprovalbytheCityCommisSiGu;andWHEREAS,saidLeaseAgreementprovidedthattheCDIIlpanyshallnotsubletanypartofthepremisesexcept
by
v~rtueofwrittenauthorizationgrantedbytheCommissionofMiami;andWHEREAS,theCityCommissiononOctober
14.1976
byMotion
76-885
approvedinconceptthesizeandtypeofrestauranttobeconstructedonthepremises;
NOW.
TlIEREFORE,
the
partiesagree
as
follOWS:
1.
Premises
to
beLeased.TheCitydoesherebyleasetotheCompany
and
theCompanydocsherebyhirefromtheCity,inadditiontothepropertysetforthinparagraph
1
oftheLeaseAgreement,the
proportymoreparticularlydescribedinExhibitnattached
hereto.
L
 
It
9916.cl058
_The
City
doesberebygrantan
eA8eD1ent
to
Grove
RestaurantLt4.,SUblessee,underthete:tlllSof
the
Sublease
at~Ched
heretoasEXhibit
Cforthe
purposeoferecting
a
-.ltn
oraigna,-aaldeasementbeingmoreparticularlydescribed
inBxhibitBattachedhereto.
2.
_Sublease.
7be
City
berebyauthorizestheCompany-to
.ub1ease
that
certainparceldescribedinExhibit
A,
herein-
afterreferred
to
asthe-RestaurantFacility-
to
Grove
RestaurantLtd.,aFloridalimitedpartnership,andapproves
the
subleasebetweenGroveKeyMarina,Inc.andGroveRestaurant
Ltd.attachedhereto
as
EXhibit
c.
In
theeventthatGroveKeyMarina,Inc.defaultsundertheterms
of
theLeaseAgreementorintheeventthatGroveKeyMarina.Inc.
is
removed
fromthe
premisesorceasestooperatethepremisesforanyreason,theCityandtheSublesseeshallbedeemedtobeindirectprivityandallpaymentsrequiredunderthetermsoftheSubleaseshallcontinuetobemadedirectlytotheCity.
3.
RentforRestaurantFacility.TheconsiderationcontemplatedunderParagraph
4of-
theLeaseAgreementshallnotapplytotheRestaurantFacility.Ren~shallbepaid
~o~he
CityforthisRes~aUrantFacilityonthefollowingbasis:
(A)~.
DuringthetermofthisleasetheCompanyor
its
sublesseeshallpaytotheCity
a
minimumannualrentofThirty
Six
ThousandDollars.payableasfollows:(i)Anamountequaltothreeandone-halfpercent
(3.5\1
ofmonthlygrosssalesashereindefinedshallbepaidmonthlytothe
City
onorbeforethefifteenthday
of
the
followingmonth;
-2-
L
 
(Ll)Withinfifteendaysafterthecloseofeachlease
year,
theCOIBpanyoritaSublesseeshallpay
to
the
Cit:y
tbalUllOuot,if,any,
by
whicb
the
pBYJIH!ntsmadepursuanttoparagraph
(1)
above
werelessthanThirtySixThousandDollars.(iii)Duringthemonth
in
whichtheReataurantPac~lityco_nce~operation,
'the
first
day
ofthat.monthshall
be
consideredthedayfromwhicheachleaseyearisoaleulated.However,the
aintmum
annualrentforthefirstlease
year
shall
be
reducedproratafor
the
numberofdaysduring
the
firstIIIOnthwhichtheRestaurantFacilitywasnot
yet
in
operation.
(8)Ad
Valorem
Ta~es.
XntheeventthattheRestaurantFaCilitybecomessubjecttoadvaloremtaxationontheleaseholdinterestorthepossessoryinterestattribUtable
to
theland
owned
by
the
CitywhichissubleasedfortheRestaurantFacility,thentheseadvaloremtaxesshallbepaidbytheCompanyoritsSublesseeandthatamountshallbedeductedfromtheamountwhichwouldotherwisebepayableinaccordancewithparagraph(A)above.ThisreductionfromrenttotheCityforadvaloremtaxesshallnotapplytoadvaloremtaxesattributabletothebUilding,equipmentorfixturesoftheRestaurantFacility,whichshallbepaid
by
theCompanyoritsSublessee.(C)PaymentbysublesseeRentunderthetermsofthisprOVisionwillbepaiddirectlytotheCitybytheSublesseebutinnoinstanceshallthisprovision
be
construedtoreleasetheCompanyfrompayingsaidrentiftheSublesseeshouldfailtomakerentalpayments.4.GrossSalesThetermgrosssalesshallbeinterchangeablewiththetermgrossreceipts.GrosssalesfortheRestaurantFacilityasusedinparagraph3AofthisAddendumshallbeasdefinedinparagraph12oftheSubleasebetweenGroveKeyMarinaandGroveRestaurantLtd.,whichisattachedheretoasExhibit
c.
-3-
L

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