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RESOLUTION NO. ; '"r"7pr •
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A RESOLUTION OF THE CITY OF DANIA, FLORIDA,
r AMENDING THE 1996 LEASE AND
LICENSING
a AGREEMENT BETWEEN THE CITY OF DANIA AND THE
BOARD OF REGENTS OF THE STATE UNIVERSITY
SYSTEM OF FLORIDA, INC., DATED FEBRUARY 27, r tit r'1996, AND PROVIDING FOR AN EFFECTIVE DATE.
BE
` FLORIDA.IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA
Sects That that certain 1996 Lease and Licensing Agreement between the
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City of Dania and the Board of Regents of the State University System of Florida dated
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February 27, 1996, is hereby amended and all attachments hereto are set forth in a
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Exhibit "A" and made a part hereof, and the same are hereby approved, ,�{
Section 2. That this resolution shall be in force and take effect immediately
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K upon its passage and adoption.
I PASSED AND ADOPTED THIS 28th DAY OF May,- r=f
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y A OR-COMMISSIONER
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CITY CLERI - UDIT R
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APPROVED AS TO FORM AND CORRECTNESS:
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CITY A TTORNEY
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RESOLUTION NO. 54-96 J
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�� FIRST ADDEND M TO
1226 LEASE AND LICENSm1 .AGREE MEN
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THIS FIRST ADDENDUM TO
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� - THE 1996 LEASE AND LICENSING AGREEMENT made
` > and entered into this
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{ _day of 1996 b h �vr'„r,w`
, y and between the City of Dania, a Florida�i municipal corporation(hereinafter referred to as the "City of Dania"), and the Board of Regents o
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the State University System of Florida(hereinafter referred to as the "Regents");
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WITNE ETH
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The City of Dania and the Regents for and in consideration of the mutual covenants
Y; hereinafter stated, and those covenants contained in the 1996 Lease and Licensing Agreement to
which this is the First Addendum, and in further consideration of the sum of Ten and 00/100
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($10.00)Dollars,paid by each of the parties to the other and other good and valuable consideration,
d the receipt and sufficiency of which is hereby acknowledged, mutually agree as follows: k
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r ; 1• The City of Dania and the Regents entered into a document entitled, "1996 Lease and K 4
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Leasing Agreement" bearing a
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date of the day of 1996(the 1996 Lease and Leasing
l Agreement").
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2• The 1996 Lease and Leasing Agreement is hereby amended by the addition thereto
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" of a new paragraph, said paragraph to bear the number 30 and to read as follows:
30. Extension o_ f Tern, s t
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'P ,yyb r. A. Additional Term '
-- �. Tile Initial Term of this 1996 Lease and Licensing Agreement
shall be extended for an additional 49 years (the Additional Term"
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upon the following terms and
y,; •tr ����r; conditions: "
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If the Regents elect to extend the Initial Term, they shall give
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election to extend to the City of Dania not later than six(6)months prior to tile expiration of the 49th „
year of the Initial Term (the "Extension Notice"). When the Regents give the Extension Notice the nx
' ® term of this 1996 Lease and Licensing Agreement shall be extended for the Additional Term which
EXHIBIT �� t ti5
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" shall commence on the—day of
y, 2095. 2046 and terminate on the day of
'g B. Consideration For Additional Term, gents
the City of Dania and the Regents shall negotiate the lc nsiderr tionprovide to be recel edtension by the Ciitty of
Dania for the Additional Term. The factors which shall determine the consideration for the
Additional Term and which shall be used during the negotiations shall be: (i)the nature and value
of the improvements to the Premises which have been made by the Regents(which shall be a credit 1
to the Regents),
g ), (ii) the nature and value of the improvements made by Aragon, the possession of
which would have reverted to the City of Dania on termination of the 198I Lease, (iii) tite value of
f y t V \the land owned in fee by the City of Dania, (iv)the payments made by the Regents for improvements J;
" pursuant to the Settlement Agreement and the 1996 Lease and Licensing Agreement (which shall
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be a credit to the Regents).
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If the Regents and the City of Dania fail to agree upon the consideration to be received is<
by the City of Dania for the Additional Term prior to the expiration of the 49th year of the Initial
Term (the "Determination Date"), then the Regents and the City of Dania shall give notice to the
other setting forth the name and address of the arbitrator designated by the party giving
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within thirty(30) business days of the Determination Date. After the two (2) arbitrators halve been Nytpr
designated, they shall, not later than sixty (60) business days after the Determination Date make
v BJ ' their determination of tie consideration and give written notice thereof to each other and to the ", ifa Si
t Regents and the City of Dania. The two arbitrators shall have thirty (30) business days after the
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st receipt of notice of each other's determination to confer with each other and to attempt to reach
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agreement as to the consideration. If the two arbitrators agree as to the consideration within the x„yA
thirty(30)day period, they shall give written notice of their decision to the Regents and the City of
Dania not later than three (3) '
business days after such agreement.
• `tt 'rhi ii,�k If the two arbitrators shall fail to concur within the thirty (30) day period, they shall
may deem appropriate and shall, within thirty (30) business days after his designation,
immediately designate a third arbitrator. The third arbitrator shall conduct such investigations as he
choose one
1, of the determinations of the two arbitrators originally selected by the parties or in lieu thereof within Wst�M
fifteen(15) additional days issue his own determination and not later than three (3) business days ,( fyy�
after his determination of the consideration he shall provide written notice of his decision to the
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Regents and the City of Dania. ,x <
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All arbitrators shall be real estate appraisers who shall have had at least ten 10}iii3 �} continuous experience in the business of appraising ( ). The s'
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arbitrators shall use the factors described in thisPragraphl30.Bestatin min aking their determiroward County, nation. The av,
�t Regents and the City of Dania shall each pay its own arbitrator's fees and shall each pay one-half ,ti,zii
of the fee of the third arbitrator.
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r The determination of the consideration for the Additional Term which is rendered b sus $ 1 <
,''^ • arbitration in accordance with the provisions of this Paragraph 30.B. shall be evidence of reasonable ,,
^ consideration, but shall not be binding in fixing the consideration, which must be finally approved
by the Regents and the City of Dania. ,Y
If the Regents and the City of Dania fail to approve the consideration for the Additional e F Y
o` Term within ninety (90) business days after receipt of the written notice of either the agreed
determination of the two arbitrators or the determination of the third arbitrator,then either a t
be entitled to file an action for declaratoryg parin a ty shall
3 of the consideration for the Addition Term in Circuit Coapprurt of the opriate cl 7th Judtion to icial Circuit;resolution
' complaint so filed shall waive the right to a jury trial. If the court dismisses the complaint for lack
w of jurisdiction or other failure to meet the requirements for seeking declaratory relief or other
appropriate action to obtain a resolution of the consideration for the Additional Term, then the
parties shall immediately submit the issue of the consideration for the Additional Term for resolution
by mediation. The decision rendered by either the court or the mediator shall be final and binding
in fixing the consideration for the Additional Term.
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C. Payment of onsidPrar'om The Additional Term shall commence as provided for 1�l
in Paragraph 30.A, hereof and the Regents shall remain in possession of the Premises even though n
the consideration for the Additional Term is not finally determined prior to the Additional Term
commencement date. The Regents shall pay the consideration for the Additional Term (or the firstq**!
installment thereof) not later than thirty (30) business days after the consideration is finally
> determined; failure of the Regents to make such payment shall be an event of default of this 1996
Lease and Licensing Agreement.
3• This Agreement shall be binding upon the parties hereto, their successors and assigns. 4 }R p� F
4. The terms and conditions of the 1996 Lease and Licensing Agreement are ratified and
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confirmed in all other respects.
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IN WITNESS WHEREOF, the CITY OF DANIA, a Florida municipal corporation, has
caused this FIRST ADDENDUM TO 1996 LEASE AND LICENSING AGREEMENT, to be
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executed in its corporate name by John Bertino, Mayor-Commissioner, and by Mike Smith, its City s M1
Manager, and has further caused its corporate seal to be affixed, attested by F ,
w its undersigned City Clerk -Auditor, on this `
s 1996. day of y
IN WITNESS WHEREOF, the BOARD OF REGENTS OF THE STATE UNIVERSITY
SYSTEM OF FLORIDA, have caused this FIRST ADDENDUM TO 1996 LEASE AND
LICENSING AGREEMENT to be executed in its corporate name b orat Charles B. Reed Chancellor,
on this_day of by
1996.
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11 biF>Lti � x STATE O FLORIDA
COUNTY OF BROWARD
The m kp�gr,q fxa foregoing
instrument was acknowledged before me this day of
1996 by Stephen F. Snyder, President of The Aragon G
corporation who: r0uA Inc., a Florida
he is personally known to me [or]
has produced
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as
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Notary Public
MY pit ct� dr',c s.A. Commission Expires: Printed Name of Notary
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Notary Commission Number:
38135
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