HomeMy WebLinkAboutR-2008-065 Dania Beach Grille Amendment#4 RESOLUTION NO. 2008-065
A RESOLUTION OF THE CITY OF DANIA BEACH, FLORIDA,
AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FOURTH
AMENDMENT TO THE LEASE AGREEMENT EXISTING BETWEEN THE
CITY OF DANIA BEACH AND DANIA BEACH GRILLE, INC. TO GRANT
AN ADDITIONAL OPTION TO THE TENANT TO EXTEND THE LEASE
ANOTHER FIVE (5) YEARS FROM FEBRUARY 15, 2014 TO FEBRUARY
15, 2019; PROVIDING FOR A RENTAL ADJUSTMENT BASED UPON A
CONSUMER PRICE INDEX FORMULA; PROVIDING FOR CONFLICTS;
FURTHER PROVIDING FOR AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA:
Section 1. That the proper City officials are authorized to execute a Fourth
Amendment to the Lease Agreement existing between the City of Dania Beach and Dania Beach
Grille, Inc., a copy of which Amendment is attached, marked as Exhibit "A" and incorporated
into this Resolution by this reference.
Section 2. The City Manager and City Attorney are authorized to make minor
revisions to such Amendment as are deemed necessary and proper for the best interests of the
City.
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on April 22, 2008.
ATTEST:
LOUISE STILSON, CMC ALBERT C. JONES
CITY CLERK MAYOR-COMMISS NER
i
APPROVED AS TO FO A D CORRECTNESS:
BY: /,I-i
TH MAS . XMfBRO
CITY ATTORNEY
FOURTH AMENDMENT TO LEASE AGREEMENT
BETWEEN THE CITY OF DANIA BEACH AND DANIA BEACH GRILL, INC.
This is a Fourth Amendment to a Lease Agreement, which Lease Agreement exists
between the City of Dania Beach, Florida, as Landlord ("Landlord") and Dania Beach Grill, Inc.,
a Florida corporation as Tenant ("Tenant'). This Fourth Amendment is entered into and becomes
effective on , 2008, and it is an amendment to the existing Lease Agreement,
which Agreement is dated February 14, 1999 (the "Agreement').
The Landlord and Tenant wish to amend the Agreement.
In consideration of the mutual covenants, terms and conditions contained in the
Agreement and this Amendment, and other good and valuable consideration, the adequacy and
receipt of which are acknowledged, the parties agree to the following:
1. Term. Paragraph 3 of the Agreement entitled "TERM", is amended to add the
following:
The parties acknowledge and agree that Tenant timely exercised the option to
renew the term for an additional five (5) year period and, therefore, the term will expire
on February 15, 2014.
The parties agree that Tenant shall have the option to renew the Lease for an
additional five (5) year term which would begin immediately after the current term
expires, which term will expire on February 15, 2014. Tenant shall provide notice of its
exercise of such option at least three (3) months before February 15, 2014. Such option
may only be exercised if Tenant is in full compliance with the provisions of the Lease and
the rental is current.
2. Paragraph 4, entitled "RENT" is amended to add in the following to subparagraph
4(a):
Beginning February 15, 2009, and each anniversary thereafter until the
expiration of the lease ("Adjustment Date"), the monthly payment amount shall be adjusted by
multiplying the applicable payment then being paid by a fraction, the numerator of which shall be
the Consumer Price Index— U.S. South Urban for all items (1982-84 equals 100) ("CPI") for the
month prior to the Adjustment Date, and the denominator of which shall be the CPI of February
of the prior Lease Year. Should the CPI be unavailable on the Adjustment Date, the monthly
payments shall remain unchanged until such time as the CPI becomes available. The monthly
payments shall be adjusted retroactively for the Lease Year if applicable, and any shortfall in the
monthly payments shall be made in the month following the month when the CPI becomes
available. In no case shall the adjustment exceed five percent (5%) of the amount being paid in
the prior Lease Year.
' As an example,during the Lease Year running from February 15,2009 to February 14,2010,the CPI for January
2009 shall be the numerator and the CPI for February 2008 shall be the denominator.
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3. In all other respects, except as amended by this Amendment to the Lease is
ratified and reaffirmed and remains in full force and effect.
IN WITNESS OF THE FOREGOING, the parties have executed this Fourth Amendment
on the day and year first above written, effective retroactively on the date specified above.
LANDLORD
CITY OF DANIA BEACH,
a Florida municipal corporation
ATTEST:
BY: BY:
Louise Stilson, City Clerk Ivan Pato, City Manager
APPROVED AS TO FORM AND CORRECTNESS:
BY:
Thomas J. Ansbro, City Attorney
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TENANT:
Signed, sealed and delivered DANIA BEACH GRILL, INC.,
in the presence of: a Florida corporation
BY:
Signature Louis Demas, President
Print Name
Signature
Print Name
STATE OF FLORIDA
COUNTY OF BROWARD
The foregoing instrument was acknowledged before me on 2008, by
Louis Demas, as President of Dania Beach Grill, Inc., a Florida corporation, on behalf of the
corporation. He is personally known to me or has produced as
identification and did (did not)take an oath.
NOTARY PUBLIC, State of Florida at large
My commission expires:
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