HomeMy WebLinkAboutResolution_68-01/02_08/08/2002•
RESOLUTION NO. 68-01/02
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VII.LAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, APPROVING A MEMORANDUM TO ENTER INTO
A LEASE AND RECEIPT FOR DEPOSIT WITH TEQUESTA
BUSINESS ASSOCIATES FOR THE LEASE OF PROPERTY
CURRENTLY OCCUPIED BY THE VII.LAGE
ADMINISTRATION LOCATED AT 250 TEQUESTA DRIVE,
TEQUESTA, FLORIDA, SUITES 304 AND 305; FOR
TEMPORARY OFFICE SPACE FOR THE DEPARTMENT OF
COMMUNITY DEVELOPMENT WITH FUNDS BEING
APPROPRIATED FROM THE DEPARTMENT OF
COMMUNITY DEVELOPMENT ENTERPRISE FUND,
PROTECTIVE INSPECTION OFFICE LEASE ACCOUNT,
HAVING A BUDGET ALLOCATION OF $6,842.96, WITH
FUNDING BEING ALLOCATED FROM THE ADOPTED
2002/2003 AND 2003/2004 APPROPRIATE BUDGETS, AND
AUTHORIZING THE VILLAGE MANAGER TO EXECUTE
THE SAME ON BEHALF OF THE VILLAGE.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF
THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS
FOLLOWS:
Section 1: The Memorandum to Enter into a Lease and Receipt for Deposit between
the Village of Tequesta and Tequesta Business Associates, attached hereto as Exhibit
A" and incorporated by reference as a part of this Resolution, is hereby approved, and
the Village Manager of the Village of Tequesta is authorized to execute the same on
behalf of the Village of Tequesta.
Section 2: The Village Manager is authorized to do all the things necessary to
effectuate the terms of the Memorandum to enter into a Lease and Receipt of Deposit,
including, but not limited to, the execution of a lease agreement on or about May 1,
2001.
THE FOREGOING RESOLUTION WAS OFFERED by Councilmember von
Frank, who moved its adoption. The motion was seconded by Councilmember
Resnik, and upon being put to vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Joseph N. Capretta
Russell J. von Frank
Edward D. Resnik
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The Vice Mayor thereupon declared the Resolution duly passed and adopted this 8th
day of August, 2002. ~-,
ce Mayor Joseph apretta
ATTEST
f' ,
~- o a--~.~-fig
Acting Vil ge Clerk
Betty Laur
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June 211, 2002
l~iichael ~ouzzo, Village l~!Ianage3°
Village of'I'equesta
250 Tequesta Drive
Tequesta, I+I, 33469
1~; Suites 304 and 30~
Dear l~Ir. ~ouzzo:
The options for the leases on Suites 304 and 305 are due for renewal ,Tiny i, 2002.
~s per the terxrrs of the lease, additional option years call for an annual API increase
in rent. The U.S. Labor Department percentage figure is ,9 for the South T2egion,
as shown on the attached copy of the announcement card.
The increase for the combined monthly rent for Suites 304 and 305 is X40.10.
Therefore, the new rexxt amount, including Suite 300 (which has it's renewal
• December 15, 2002 will be 56,1142.96.
~Ve would appreciate your signing a ton~c~-year renewal this tigne. Tn fact, most of our
tenants sign for three to five year terx~~s.
Please sign below in agreement and return to this office, Thanl~ you,
Sincerely,
~~ f
Harriet Smith
1Jnclosure
Hand Delivered
l~Tichael Couzzo'; -`~i ~s e Taxxager, Village ol° Tequest~
•
25~ `Tcq~esta I)~~ive 3'eque~t~, F(®rici~~ 334{~9 ~ 5~ e -747-4 ! 77 ~ 1~~x X61-747-41 ~9
TEQUESTA CORPORATE CENTER
July 25, 2002
Michael Couzzo, Village Manager
Village of Tequesta
250 Tequesta Drive
Tequesta, FL 33469
RE: Suites 304 and 305
Dear Mr. Couzzo:
In reference to my letter of June 28, 2002, listed below is
the breakdown of the CPI increase for the rents in 304 and 305.
Suite 304 - 2,400 sq.ft. - $39,600 annually,$3,300.monthly x.9~
CPI increase = $29.70 -new monthly rent $3,329.70.
Suite 305 - 840 sq, ft. - $13,860 annually,$1,155 monthly x.9~
CPI increase = 10.40 - new monthly rent $1,165.40.
Combined with the rent for Suite 300 - $2,347.86, the total
monthly amount is now $6,842.96.
When able, please sign the June 28th letter in acceptance and
return. Thank you.
Sincerely,
(~~~~~ G~
Harriet Smith
Hand Delivered
Enclosures
•
250 Tequesta Drive Tequesta, Florida 33469 56 I -747-4177 Fax 561-747-4189
TEQUESTA CORPORATE CENTER
.]
June 28, 2002
Michael Couzzo, Village Manager
Village of Tequesta
250 Tequesta Drive
Tequesta, FL 33469
RE: Suites 304 and 305
Dear Mr. Couzzo:
The options for the leases on Suites 304 and 305 are due for renewal July 1, 2002.
As per the terms of the lease, additional option years call for an annual CPI increase
in rent. The U.S. Labor Department percentage figure is .9 for the South Region,
as shown on the attached copy of the announcement card.
The increase for the combined monthly rent for Suites 304 and 305 is $40.1.0.
• Therefore, the new rent amount, including Suite 300 (which has it's renewal
December 15, 2002) will be $6,842.96.
We would appreciate your signing atwo-year renewal this time. In fact, most of our
tenants sign for three to five year terms.
Please sign below in agreement and return to this office. Thank you.
Sincerely,
~~
Harriet Smith
Enclosure
Hand Delivered
Michael Couzzo, Village Manager, Village of Tequesta
•
DATE
250 Tequesta Drive Tequesta, Florida 33469 561-747-4177 Fax 561-747-4189
-,I
•
For Release:
8:30 A.M., EDT, Tuesday,
W ~ June 18, 2002
e
CONSUMER PRICE INDEX
(1982-84=100)
May 2002
BUREAU OF LABOR STATISTICS
SOUTHEASTERN REGIONAL OFFICE
ATLANTA, GEORGIA
TELEPHONE: 404-331.33415
Request Document 9105
All urban consu mers Wa a earn ers ~ ciencai worKdrs
Percent Percent Percent Percent
Group change change change change
Ma 01 A ri102 Ma 01 ri102
Index Ma 02 Ma 02 Index Ma 02 Ma 02
U.S. City Average
All Items (1982-84=100)
179.8
1.2
0.0
"175.8
0.8
0.0
All items (1967=100) 538.5 - -
2
0 523.6
7
175 -
2.0
-0.2
Food and beverages 176.4 2.0
2
2 .
-
1
0 .
175.1 2.0 0.2
Housing ~ 179.7
207
5 .
4
0 .
0.0 201.2 4.0 0.1
Shelter
Rent of primary residence .
198.8 .
4.1 0.2 198.1 4.0 0.2
1
3
Apparel 127.1 -2.1 -1.3 126.2 -1.8
1
4 .
-
0
0
Transportation 153.8 -3.4 0.1
0
3 152.7
282
9 .
-
4.6 .
0.4
Medical care 284.1
4
106 4.7
1
3 .
-0.1 .
104.9 1.2 -0.1
Recreation 1/
Education & communication 1/ .
106.8 .
2.5 0.4 106.5 2.3 0.5
Other oods and services 291.5 4.0 -0.5 299.1 4.3
& clerical -0.9
workers
All urban consu mers Wa a earners
Percent Percent Percent Percent
Group change change change change
Ma 01 r1102 Ma O1 ri102
Index Ma 02 Ma 02 Index Ma 02 Ma 02
South
All items (1982-84=100)
173.2
0.9
q.1
170.8
0.5
0.0
All items (Dec 1977=100) 281.0 - • - 276.6 ' -
1
8
-0
3
Food and beverages 173.6 1.9 -0.3
4
0 172.4
7
162 .
1.0 .
0.4
Housing
Apparel 164.6
140.1 1.2
-2.0 .
-1.2 .
' 39.4 -1.8 -1.1
0
1
Transportation 150.7 -3.1 -0.1 149.8 -4.0
4
0 -
.
0
3
Medical care 275.2 4.0 0.3
1
0 275.1
104
3 .
1
1 .
0.0
Recreation 1/
Education & communication 1/ 105.9
106.9 1.1
3.3 .
0.1 .
106.4 .
~ 2.9 0.2
Other oods and services 285.5 ~-- -- --- ----=0.~_ 292.8 5.0 -0.9
1/ Indexes on a December 1997 =100 base.
- Not available.
Internet address: ~•//www bls. ~ov/ro4/hom e.httt
Fax-on-demand number is 404-331-3403
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c J, .~..°.~'
L~
OFFICE LEASE AGREEMENT
THIS LEASE AGREEMENT (this "Lease"), is made and entered into on the a ° day of April,
2001, by and between TEQUESTA BUSINESS ASSOCIATES, a Florida General Partnership ("Lessor");
and The Village of Tequesta, a Florida Municipal Corporation. ("Tenant").
WITNESSETH:
1. Definitions. Lessor and Tenant hereby agree that the words and phrases set forth below shall,
when used in this Lease, have the following meaning:
(a) "Building" shall mean office building known as "250 Tequesta Drive, Tequesta, Florida"
located upon the real property (the "Property") described in Exhibit "A" attached hereto and incorporated herein.
Reference made to the Property in this Lease shall be deemed to include the Building unless expressly provided
otherwise.
(b) "Premises" shall mean the suite of offices located within the Building known as Suite #/305,
containing approximately 840 square feet. A copy of the approximate floor plan of the Premises is attached hereto
as Exhibit "B" .
(c) "Base Rental" shall mean the sum of Thirteen Thousand Eight Hundred and Sixty and
00/100 ($13,860.00) Dollars per annum, payable in equal monthly installments of One Thousand One Hundred
Fifty-Five and 00/100 Dollars ($1,155.00) per month, which includes CAM charges and as adjusted pursuant to
Paragraph 5 hereof.
(d) "Commencement Date" shall be April 7, 2001.
(e) "Lease Term" shall mean a term commencing on the Commencement Date and continuing
until Twelve (12) months after the Commencement Date, terminating on March 31, 2002. The first "Lease Year"
shall be the first full twelve (12) month period of the Lease Term, and thereafter, each successive twelve (12) month
period shall be deemed a "Lease Year."
(f) NO SECURITY DEPOSIT REQUIRED.
(g) "Common Areas" shall mean those areas devoted to corridors, elevator foyers and elevator
cabs, restrooms, mechanical rooms, janitorial closets, electrical and telephone closets, vending areas and other similar
facilities provided for the common use or benefit of tenants generally and/or the public.
(h) "Service Areas" shall mean those areas within the exterior walls of the Building used for
elevator mechanical rooms, building stairs, fire towers, elevator shafts, flues, vents, stacks, pipe shafts and vertical
ducts (but shall not include any such areas designated for the exclusive use of benefit of the Tenant).
(i) "Exterior Common Areas" shall mean those portions of the Property which are not
located within the Building and which are provided and maintained for the common use and benefit of Lessor and
tenants of the Building generally and the employees, invitees and licensees of Lessor and such Tenants; including,
without limitation, all parking areas, enclosed or otherwise, and all streets, sidewalks and landscaped areas.
•
(j) "Building Standard Impravements" shall mean those improvements (including the "Shell
Improvements") constructed or installed within the Premises by Lessor.
(k) "Building Grade'° shall mean the type, brand and/or quality of materials Lessor designates
from time to time to be the minimum quality to be used in the Building or the exclusive type, grade or quality of
material to be used in providing the Building Standard Improvements.
(1) NO ADVANCE RENT IS REQUIRED.
2. Lease Grant. Subject to and upon the terms, provisions and conditions herein set forth, and each
in consideration of the covenants of the other hereunder, Lessor leases to Tenant and Tenant leases from Lessor the
Premises.
3. Lease Term. This Lease shall continue in force during a period beginning on Commencement
Date and continuing until the expiration of the Lease Term, unless this Lease is sooner terminated or extended to a
later date under any other term or provision hereof.
4. I1Se. The Premises shall be used and occupied by Tenant solely for the purpose of governmental
administrative offices for The Village of Tequesta, Finance and Water Utility Departments of the Village, and any
other lawful office purpose. Tenant agrees not to use or permit the use of the Premises or the Building for any
purpose which is illegal, or which, in Lessor's sole opinion, creates a public nuisance or which would increase the
cost of insurance coverage with respect to the Building.
5. Rental.
(a) Tenant covenants and agrees to pay during the Lease Term, to Lessor, without any setoff
or deduction whatsoever, the Base Rental and all such other sums of money as shall become due hereunder as
additional rent (all of which are sometimes herein collectively called "rent"), for the nonpayment of which Lessor shall
be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base
Rental. The Base Rental payable during each calendar year or portion thereof during the Lease Term, as increased
pursuant to subparagraph (d) below, shall be due and payable in twelve (12) equal installments on the fifteenth day
of each calendar month during each term of this Lease and any extensions or renewals thereof, and Tenant hereby
agrees to pay such Base Rental to Lessor at Lessor's address provided herein (or such other address as may be
designated by Lessor in writing from time to time). Tenant agrees to pay all such sums in advance monthly, and
without notice or demand. If the Lease Term commences on a day other than the first day of a month or terminates
on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such
month or months shall be prorated, based on the number of days of such month.
(b) All installments of rent and any additional rent not paid when due and payable, following
any grace period provided pursuant to paragraph 23(a) hereof, shall bear interest until paid at the rate of twelve
percent (12%) per annum.
(c) Tenant represents that it is exempt from all sales tax which may become due as a result of
this lease.
(d) Tenant shall pay the monthly installments of the Base Rental as same come due through the
end of the first Lease Year, and second year (if Option is exercised. Thereafter the Base Rent may be increased at
the option of the Landlord as the Tenant as the Tenant agrees and understands that occupancy shall be on a month to
month basis.
• 2
6. Payment of Operating Expenses, Notwithstanding anything contained in this Lease to the
contrary Common Area Maintenance (CAM} charge is included in rental amount stated in 1(c).
7. Services to be Furnished by Lessor. Lessor agrees to furnish Tenant the following services as part
of the operations of the Building:
(a) Water at those points of supply provided for general use of Tenant and other tenants in the
Building (Common Area);
(b) Subject to the provisions of Paragraph 8, central heat and air conditioning, at such
temperatures and in such amounts as are considered by Lessor to be standard or as required by governmental
authority for all of the common areas. Any costs for repair andfor replacement which are not covered under
Tenant's Service agreement set forth in said Paragraph 8, other than filters, shall be paid equally by Lessor
and Tenant, The cost of filters and the replacement thereof, as to the demised Premises and not the common
areas, shall be borne by the Tenant.
(c) Routine maintenance and electric lighting service for all Common Areas and Service Areas
of the Building in the manner and to the extent deemed by Lessor to be standard including, but not limited
to, elevator maintenance, landscape maintenance, parking lot maintenance, alarm service, roof repair and
maintenance, and window cleaning. Said maintenance shall be performed in a professional manner consistent
with the use of the Building for Bank and professional office uses.
(d) Janitor service and supplies to all Common Areas, Mondays through Fridays, exclusive of
normal business holidays.
(e) Subjec[ to the provisions of Paragraph 11, facilities to provide all electrical current
reasonably required by Tenant in its use and occupancy of the Premises;
(f) All Building Standard fluorescent bulb replacement in the Common Areas and Service
Areas;
(g) Security in the form of limited access to the Building during other than Normal Business
Hours shall be provided in such form as Lessor deems appropriate. Notwithstanding the foregoing, at the
inception of this Lease, there is no security system in place at the building which would result in a fee
for after hours access. Lessor, however, shall have no liability to Tenant, its employees, agents, invitees
or licensees for losses due to theft or burglary, or for damages done by unauthorized persons on the
Premises and neither shall Lessor be required to insure against any such losses. Tenant shall cooperate fully
in Lessor's efforts to maintain security in the Building and shall follow all regulations promulgated by Lessor
with respect thereto. Notwithstanding anything to the contrary contained above, until a system, other than
a dead bolt lock system, is installed at the Building, Tenant shall be provided with a key to the lobby doors
for after hours access for Tenant and its employees, Tenant will have access 7 days per week, 24 hours per
day;
The failure by Lessor to any extent to furnish the defined services noted above, in whole or in part, or the
interruption or termination of same, resulting from causes beyond the reasonable control of Lessor shall not render
Lessor liable in any respect nor be construed as an eviction (constructive or otherwise) of Tenant, nor cause an
abatement of rent, nor relieve Tenant from the obligation to fulfill any covenant or agreement hereof. Should any
of the equipment or machinery used in the provision of such services cease for any reason to function properly, Tenant
shall have no claim for offset or abatement of rent or damages on account of an interruption in service occasioned
thereby or resulting therefrom.
3
8. Care of the Premises by Tenant. The Tenant shall keep the interior of the demised
Premises, which includes, but is not limited to, all electrical, plumbing, heating, air-conditioning, and other
mechanical installation therein, all doors, and all plate glass and door and window glass, in good order. With the
exception for those services to be provided by the Lessor as set forth in Paragraph 7 above, Tenant shall make all such
repairs, alterations, replacements and modifications at its own expense and using materials and labor of a kind and
quality equal to the original work. Tenant shall surrender the demised Premises at the expiration or earlier termination
of the Lease in as good condition as when received, excepting only deterioration caused by ordinary wear and tear
and damaged by fire or other casualty of the kind insured against in standard policies of fire insurance with extended
coverage. Except as hereinabove provided, the Lessor shall have no obligation to repair, maintain, alter, replace, or
modify the demised Premises or any part thereof, or any electrical, plumbing, heating, air-conditioning, or other
mechanical installation therein other than is listed in the addendum.
Tenant shall arrange for the maintenance of all heating and air conditioning equipment for its Premises with
a heating and air conditioning contractor approved in writing by the Lessor, which contractor will carry out such
maintenance on a scheduled basis (not less than quarterly) and will furnish the name of the contractor and a copy of
the maintenance program to Lessor for Lessor's approval, which approval shall not be unreasonably withheld.
Tenant shall not permit any liens to be attached to the demised Premises by reason of any labor or material
used in repairs or alterations by Tenant.
Tenant shall be responsible for all damage and repairs to the Premises caused by burglary or vandalism to
Tenant's usable area.
9. Graphics. Lessor shall provide and install, at Tenant's expense, all letters or numerals on
doors entering the Premises. All such letters and numerals shall be in the standard graphics as approved by Lessor
for the Building, and no others shall be permitted on the Premises without Lessor's prior written consent. No sign
or visual advertisement shall be placed in any window.
10. Use of Electrical Services by Tenant. Tenant shall pay for it's own electrical service
which is metered separately for use within the occupied space. Tenant's use of electrical services furnished by Lessor
shall not exceed, either in voltage, rated capacity, or overall load that which Lessor deems to be Building Standard.
In the event Tenant shall request that it be allowed to consume electrical services in excess of that deemed by Lessor
to be Building Standard, Lessor may refuse to consent to such usage or may consent upon such conditions as Lessor
elects (including the requirement that submeters be installed at Tenant's expense).
11. Parking.
During the term of this Lease, Lessor shall provide Tenant with unassigned parking spaces in the
covered and uncovered parking areas located on the Property, such parking spaces and all driveways and walk-ways
located on the Property to be used by Tenant on anon-exclusive basis with Lessor and other tenants of the Building,
their guests and invitees. All covered and uncovered parking shall be provided at no charge to Tenant and shall be
on a first-come first-serve basis.
Lessor shall have a right to designate the location of Tenant's parking, and alter such designation
upon reasonable notice to Tenant. Any such designation shall be done equitably as to each of the tenants of the
Building. Lessor shall also have the right to establish or modify the- methods used to control parking on the Property,
including without limitation the installation of certain control devises or the hiring of parking attendants.
Lessor shall not be liable for any damage to or any theft of any vehicle, or any contents therefrom,
while in or about the parking areas located on the Property.
•
12. Law and Regulations. Tenant agrees to comply with all applicable laws, ordinances,
rules and regulations of any governmental entity, agency or authority having jurisdiction of the Premises or Tenant's
use thereof.
13. Building Rules and Regulations. Tenant will comply with reasonable rules and regulations
of the Building adopted and altered by Lessor from time to time and will cause all of its agents, employees, invitees
and visitors to do so. Lessor shall give Tenant notice of all such rules and regulations and any changes thereto, and
Tenant shall be charged with compliance with such rules and regulations and any changes thereto, and Tenant shall
be charged with compliance with such rules and regulations, as the same may be changed from time to time, from
the date of said notice.
14. Entry by .Lessor. Tenant agrees to permit Lessor or its agents or representatives to enter
into and upon any part of the Premises at all reasonable business hours (and in emergencies at all times) to inspect
the condition, occupancy or use thereof, or to show the Premises to prospective purchasers, mortgagees, tenants
(within the last three (3) months of the Lease) or insurers, or to clean or make repairs, alterations or additions thereto,
and Tenant shall not be entitled to any abatement or reduction of rent by reason thereof. Lessor shall, in good faith,
provide reasonable advance notice to Tenant prior to entry into or upon the Premises. Tenant shall provide Lessor
with a current key to the Demised Premises and shall promptly provide Lessor with a new key in the event
Tenant has the locks changed at the Premises during the term of this Lease.
15. Assignment and Subletting
(a) Tenant shall not assign, sublease, transfer, pledge or encumber this Lease or any interest therein
without Lessor's prior written consent (which consent may not be unreasonably withheld by the Lessor). Any
attempted assignment, sublease or other transfer ar encumbrance by Tenant in violation of the terms and covenants
of this paragraph shall be void.
• (b) In the event that Tenant shall desire Lessor's consent to either the subletting of the Premises,
in whole or in part, or the assignment of Tenant's entire interest under the Lease, Tenant shall give Lessor fifteen (15)
business days prior written notice thereof. Such notice shall, at Lessor's option, be deemed to be an offer by Tenant
to either, as the case may be: (i) sublet the Premises (or such portion thereof which Tenant would sublet) to Lessor
for the balance of the Lease Term (or for such portion of the Lease Term for which Tenant would sublet) upon all
the same terms, covenants and conditions as are otherwise contained in this Lease; (ii) assign this Lease to Lessor
for the sole consideration of Lessor's release of Tenant from any liability hereunder. In the event that Lessor does
not exercise such option by notice to Tenant in writing within fifteen (15) business days following the receipt of said
notice from Tenant, then Lessor's right to either sublease the Premises (or such portion thereof) or acquire this Lease
by assignment, as the case may be, shall be deemed to be waived; provided that such waiver if any shall not be
deemed to be a consent by Lessor to any such subletting or assignment unless Lessor delivers to Tenant its written
consent thereto. Notwithstanding Lessor's consent or waiver on any one occasion, Lessor's option to treat Tenant's
request for consent as an offer to sublet or assign as provided in this subparagraph shall apply to any further subletting
or assignment.
(c) The covenants in this Paragraph concerning assignment shall run with the land and shall bind
the parties and their heirs, executors, administrators, personal representatives, successors and permitted assigns.
(d) Notwithstanding Lessor's consent to any assignment or subletting by Tenant, Tenant shall remain
liable for the full and faithful performance of the covenants and conditions of this Lease unless expressly released in
writing by Lessor.
16. Construction liens. Tenant will not permit any construction lien or liens to be placed upon
the Premises or any portion of the Building or the Property, and nothing in this Lease shall be deemed or construed
in any way as constituting the consent or request of Lessor, express or implied, by inference or otherwise, to any
person for the performance of any labor or the furnishing of any materials to the Premises, or any part thereof, nor
as giving Tenant any right, power, or authority to contract for or permit the rendering of any services or the furnishing
of any materials that would or might give rise to any mechanic's or other liens against the Premises. In the event any
such lien is claimed against the Premises, then Tenant shall discharge same or transfer such lien to other security
within thirty (30) days of notice thereof. In the event that Tenant fails to discharge or otherwise remove any such
liens, then, in addition to any other right or remedy of Lessor, Lessor may, but shall not be obligated to, discharge
the same. Any amount paid by Lessor for any of the afaresaid purposes shall be reimbursed by Tenant to Lessor
within ten (10) days of Lessor's demand therefor as additional rent.
17. Insurance.
(a) The Lessor shall during the entire Term hereof, obtain, maintain and keep in full force and
effect, with Lessor and the mortgagees of Lessor named as insured therein as their respective interests may appear,
the following insurance:
(i) Fire Insurance including extended coverage, vandalism and malicious mischief upon
property of every description and kind owned by Lessor and located in the Building and/or Common Areas,
including, without limitation, furniture, fittings, installations, fixtures and any other personal property,
Leasehold Improvements and alterations, in an amount not less than ninety (90%) percent of the full
replacement cost thereof.
(ii) Comprehensive general liability coverage to include personal injury, bodily injury, broad
form property damage, operations hazard, owner's protective coverage, contractual liability and products
and completed operations liability if available, in limits not less than One million ($1,000,000.00) Dollars
inclusive.
(iii) Business interruption insurance (rent loss), if available, in such amounts as will reimburse
property losses due to (1) the Building or any part thereof becoming out of repair or by defect in or failure
of pipes or wiring, or by the backing up of drains, or by the bursting or leaking of pipes, faucets and
plumbing fixtures, or by gas, water, steam, electricity or oil leaking, escaping or flowing into the Demised
Premises, whether or not caused by negligence of Lessor, or (2) any loss or damage that may be occasioned
by or through the acts or omissions of other tenants in the Office Building or of any other persons
whatsoever, exception only the willful misconduct or gross negligence of duly authorized employees and
agents of Lessor, or (3) any loss or damage to any property or person occasioned by theft, fire, act of God,
public enemy, injunction, riot, insurrection, war, court order, requisition or order of governmental authority,
or any other matter beyond the control of Lessor. Tenant agrees that Tenant shall be responsible for all of
Tenant's personal property brought, placed or installed upon or within the Premises and shall be liable for
any damage thereto or theft thereof.
(b) Lessor may, but shall not be obligated to, take out and carry any other form or forms of
insurance as it or the mortgagees of Lessor may reasonably determine advisable. Tenant acknowledges that it has
no right to receive any proceeds from any such insurance policies carried by Lessor. Lessor will not be obligated to
carry insurance of any kind on Tenant's furniture or furnishings, or on any fixtures, equipment, improvements or
appurtenances of Tenant under this Lease; and Lessor shall not be obligated to repair any damage thereto or replace
the same.
(c) The Tenant shall, during the entire Term hereof, obtain, maintain and keep in full force
and effect, such commercial policy(s) of insurance commonly known as a "renter's policy", providing comprehensive
general liability coverage as to personal injury, bodily injuries, road form property damage, operations, hazard,
owner's protective coverage, contractual liability and products and completed operations liability, if applicable and
available, in such reasonable limits as required by Lessor. Tenant's obligations to obtain said renter's policy shall
be limited to the demised Premises only. Tenant shall provide Lessor with a Certificate of Insurance, naming Lessor
and Lessor's property manager Harriet Smith and H. Smith Realty, Inc. as an additional insured, prior to taking
occupancy of the Demised Premises. The insurance policy shall provide that Lessor must be provided with a
minimum of thirty (30) days advance notice in the event of cancellation.
(d) Tenant agrees that it will not keep, use, sell or offer for sale in or upon the Premises any
article which may be prohibited by any insurance policy in force from time to time covering the Building and/or the
Premises. In the event Tenant's occupancy or conduct of business in, or on the Premises, whether or not Lessor has
consented to the same results in any increase in premiums for the insurance carried from time to time by Lessor with
respect io the Office Building, Tenant shall pay any such increase in premiums as additional rent within ten (10) days
after being billed therefor by Lessor. In determining whether increased premiums are a result of Tenant's use or
occupancy of the Premises, a schedule issued by the organization computing the insurance rate on the Building or the
Leasehold Improvements showing the various components of such rate, shall be conclusive evidence of the several
items and charges which make up such rate. Tenant shall promptly comply with all reasonable requirements of the
insurance authority or of any insurer now or hereafter in effect relating to the Premises.
(e) If any insurance policy carried by Lessor, as provided by Section 17(a) hereof, shall be
canceled or cancellation shall be threatened, or the coverage thereunder reduced or threatened to be reduced, in any
way by reason of the use of occupancy of the Premises or any part thereof by Tenant or by assignee or sub-tenant or
Tenant or by anyone permitted by Tenant to be upon the Premises and, if Tenant fails to remedy the condition giving
rise to cancellation, threatened cancellation or reduction of coverage within forty-eight (48) hours after notice thereof,
(excluding Saturdays, Sundays, and legal holidays), Lessor may, at its option, either terminate this Lease or enter
upon the Premises and attempt to remedy such condition and Tenant shall forthwith pay the cost thereof to Lessor as
additional rent. Lessor shall not be liable for any damage or injury caused to any property of Tenant or of others
located on the Premises as a result of such entry. In the event that Lessor shall be unable to remedy such condition,
then Lessor shall have all of the remedies provided for in this Lease in the event of a default by Tenant.
Notwithstanding the foregoing provisions of this Section 17(e), if Tenant fails to remedy as aforesaid, Tenant shall
be in default of its obligation hereunder and Lessor shall have no obligation to attempt to remedy such situation.
(f) Any policy or policies of fire, extended coverage or similar casualty insurance, which either
party obtains in connection with the Premises shall include a clause or endorsement denying the insurer any rights of
subrogation against the other party to the extent rights have been waived by the insured prior to the occurrence of
injury or loss. Lessor and Tenant waive any rights of recovery against the other for injury or loss due to hazards
covered by insurance containing such a waiver of subrogation clause or endorsement to the extent of the injury or loss
covered thereby.
(g) Any policy or policies as required pursuant to the terms of Section 17(a) herein, shall
contain a clause that the insurer shall not cancel or change the insurance policy without first giving ten (10) days prior
written notice to Lessor. Lessor reserves the right to require an increase in the amounts of the comprehensive general
liability coverage, from time to time during the Term of this Lease, as Lessor should, in its sole discretion, deem
reasonable and necessary.
18. Assumption of Risks. The Lessor or its assigns shall not be liable to Tenant or Tenant's
customers, licensees, agents or guests or employees for any injury or damages to its, his or their persons or property
by any cause whatsoever, including, but not limited to, acts or omissions of any other tenant in the Building,
construction defects, water, rain, sleet, fire, storms, negligence and accidents, breakage, stoppage or leaks of gas,
water, heating, sewer pipes, boilers, wiring or plumbing or any other defect in or about the Premises.
19. Waiver of Subrogation Rights. Anything in this Lease to the contrary notwithstanding,
Lessor and Tenant each hereby waive any and all rights of recovery, claim, action, or cause of action, against the
other, its agents, officers, or employees, for any loss or damage that may occur to the Premises, or any improvements
thereto, or the Building of which the Premises are a part, or any improvements thereto, or any personal property of
• such party therein, by reason of fire, the elements or any other cause(s) which are insured against under the terms
of the standard fire and extended coverage insurance policies referred to in Paragraph 17 hereof, regardless of cause
or origin, including negligence of the other party hereto, its agents, officers, or employees; provided that such waiver
by either Lessor or Tenant does not limit in any way such party's right to recovery under such insurance policies.
Lessor and Tenant shall each obtain an endorsement to all of their insurance policies to effect the provisions of this
paragraph, provided that such endorsements are available at no additional cost.
20. Casualty Damage. If the Premises or any part thereof shall be damaged by fire or other
casualty, Tenant shall give prompt written notice thereof to Lessor. If the Building shall be so damaged that
substantial alteration or reconstruction of the Building shall be required (whether or not the Premises shall have been
damaged by such casualty) or in the event any mortgagee of Lessor's should require that the insurance proceeds
payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material
uninsured loss to the Building, either Lessor or Tenant may, at their option, terminate this Lease by notifying the other
in writing of such termination within ninety (90) days after the date of such damage. If neither Tenant nor Lessor
elects to terminate this Lease, Lessor shall commence and proceed with reasonable diligence to restore the Building
to substantially the same condition in which it was immediately prior to the happening of the casualty, except that
Lessor's obligation to restore shall not exceed the scope of the work required to be done by Lessor in originally
constructing the Building and installing Improvements in the Premises, nor shall Lessor be required to spend for such
work an amount in excess of the insurance proceeds actually received by Lessor as a result of the casualty. Lessor
shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any
way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall
allow Tenant a fair abatement of rent during the time and to the extent the Premises are unfit for occupancy, including
during restoration thereof. Notwithstanding anything herein to the contrary, if the Premises or any other portion of
the Building be damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant's
agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage, and
Tenant shall be liable to Lessor for the entire cost of the repair and restoration of the Building caused thereby to the
extent such cost and expense is not covered by Lessor's insurance proceeds.
21. Condemnation. If the whole of the Building, Property or the Premises should be taken
for any public or quasi-public use, by right of eminent domain or otherwise, or if the same should be sold in lieu of
condemnation, then this Lease shall terminate as of the date when physical possession of the Building, Property, or
the Premises is taken by the condemning authority. If less than the whole of the Building including the Premises,
or Property is thus taken or sold, then Lessor (whether or not the Premises are affected thereby) may, at its option,
terminate this Lease by giving written notice thereof to Tenant, in which event this Lease shall terminate as of the date
when physical possession of such portion of the Building, Premises or Property is taken by the condemning authority.
If this Lease is not so terminated upon any such taking or sale, the Base Rental payable hereunder shall be diminished
by an equitable amount, and Lessor shall, to the extent Lessor deems feasible, restore the Building, the Property
and/or the Premises to substantially their former condition, but such work shall not exceed the scope of the work done
by Lessor in originally constructing the Building and the improvements currently existing in the Premises and/or the
Property, nor shall Lessor in any event be required to spend for such work an amount in excess of the amount received
by Lessor as compensation for such taking. All amounts awarded upon a taking of any part or all of the Building,
the Property or the Premises shall belong to Lessor, and Tenant shall not be entitled to and expressly waives all claim
to any such compensation. Nothing contained herein shall prohibit Tenant from seeking business loss, Tenant's
tenancy loss, or other such claims from the condemning authority.
22. Damages From Certain Causes. Lessor shall not be liable to Tenant for any loss or
damage to any property or person occasioned by theft, fire, act of God, public enemy, injunction, riot, strike,
insurrection, war, court order, requisition, or other such event not within the control of Lessor. Nor shall Lessor be
liable for any damage or inconvenience which may arise through repair or alterations of any part of the Building,
•
Property, or Premises.
23. Events of Default/Remedies.
(a) The following events shall be deemed to be events of default by Tenant under this Lease:
(i) Tenant shall fail to pay any rent or any other sums of money due hereunder and such
failure shall continue for a period of ten (10) days after the date such sum is due;
(ii) Tenant shall fail to comply with any provision of this Lease or any other agreement
between Lessor and Tenant, all of which terms, provisions, and covenants shall be deemed material
within 50 days of written notice from Lessor;
(iii) the leasehold hereunder demised shall be taken on execution or other process of law
in any action against Tenant;
(iv) Tenant shall become insolvent or unable to pay its debts as they become due, or Tenant
notifies Lessor that it anticipates either condition;
(v) Tenant takes any action to, or notifies Lessor that Tenant intends to file a petition under
any section or chapter of the Federal Bankruptcy Act, as amended, or under any similar law or
statute of the United States or any State thereof, or a petition shall be filed against Tenant under any
such statute or Tenant or any creditor of Tenant notifies Lessor that it knows such petition will be
filed or Tenant notifies Lessor that it expects such a petition to be filed; or
(vi) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises
or for all or a substantial part of the assets of Tenant.
(b) Upon the occurrence of any event or events of default or other breach of this Lease by
Tenant not arising from Tenant's failure to pay any rent or other sums of money due hereunder within ten (10) days
of the due date, and whether such default or defaults are enumerated in this paragraph or not, then if Tenant fails to
cure any such default within sixty (60) calendar days of written notice from Lessor, Lessor shall have the option to
pursue any one or more of the following remedies: (i) Lessor shall have the right, at its election, to cancel and
terminate this Lease and dispossess Tenant; (ii) Lessor shall have the right without terminating or canceling this
Lease to declare all amounts and rents due under this Lease for the remainder of the existing term (or any applicable
extension or renewal thereof) to be immediately due and payable, and thereupon all rents and other charges due
hereunder to the end of the initial term or any renewal term, if applicable, shall be accelerated subject to a one year
cap; (ii) Lessor may elect to enter and repossess the Premises and relet the Premises for Tenant's account, holding
Tenant liable in damages for all expenses incurred in any such reletting and for any difference between the amount
of rent received from such reletting and the rent due and payable under the terms of this Lease; (iv) Lessor may enter
upon the Premises and do whatever Tenant is obligated to do under this Lease. If Tenant is in default for any reason
which would require written notice from Lessor, and if such default cannot reasonably be expected to be cured within
the said ten (10) day period, then Tenant shall have a reasonable period of time to effect such cure, provided that
Tenant promptly commences the cure and proceeds diligently to completion of same.
(c) In the event of any default by Tenant arising from the failure to pay rent or any other sum
due hereunder within the ten (10) day period provided in subparagraph 23(a)(i) above, Lessor may, upon three (3)
days written notice, exercise any remedy provided in subparagraph 23(b) above. Notwithstanding the foregoing,
however, within the three-day period, the Tenant shall have the right to cure the default of nonpayment by paying such
sums that are due and owing as set forth in the said written notice.
• 9
(d) This Paragraph 23 shall be enforceable to the maximum extent not prohibited by applicable
. law, and the unenforceability of any portion hereof shall not thereby render unenforceable any other portion.
(e) Lessor shall be in default hereunder in the event Lessor has not begun and pursued with
reasonable diligence the cure of any failure of Lessor to meet its obligations hereunder within thirty (30) days (except
for the obligation to provide utility services, working elevators and HVAC, in which case the time frame shall be
deemed to be three (3) calendar days) of the receipt by Lessor of written notice from Tenant of the alleged failure to
perform. In no event shall Tenant have the right to terminate or rescind this Lease as a result of Lessor's default as
to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement hereof,
whether in this Lease or elsewhere, unless said breach shall constitute a constructive eviction of Tenant and Lessor
has not begun and pursued with reasonable diligence to cure the default within the time frame set forth above in this
Paragraph. Tenant hereby waives such remedies of termination and recission and hereby agrees that Tenant's
remedies for default hereunder and for breach of any promise or inducement by Lessor shall be limited to a suit for
damages and/or injunction.
(f) Tenant agrees to reimburse Lessor on demand for any expenses which Lessor may
reasonably incur in effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that
Lessor shall not be liable for any damages resulting to the Tenant from such action. All such remedies of Lessor shall
be cumulative, and in addition, Lessor may pursue any other remedies that may be permitted by law or in equity.
Forbearance by Lessor to enforce one or more of the remedies herein provided upon an event of default shall not be
deemed or construed to constitute a waiver of such default or remedy.
24. Taxes and Assessments. Tenant shall be liable for all taxes levied or assessed against
personal property, furniture or fixtures or equipment placed by Tenant in the Premises. If any such taxes for which
Tenant is liable are levied or assessed against landlord or Lessor's property and if Lessor elects to pay the same, or
if the assessed value of Lessor's property is increased by inclusion of personal property, furniture or fixtures or
equipment placed by Tenant in the Premises, and Lessor elects to pay the taxes based on such increase, Tenant shall
pay to Lessor upon demand that part of such taxes for which Tenant is liable hereunder. Lessor's demand for payment
shall include reasonable evidence of such tax.
25. Peaceful Enjoyment. Tenant shall, and may peacefully have, hold, and enjoy the
Premises against all persons claiming by, through or under Lessor, subject to the other terms hereof, provided that
Tenant pays the rent and other sums herein recited to be paid by Tenant and performs all of Tenant's covenants and
agreement herein contained. This covenant and any and all other covenants of Lessor shall be binding upon Lessor
and its successors only with respect to breaches occurring during its or their respective periods of ownership of the
Lessor's interest hereunder.
26. Holding Over. In the event of holding over by Tenant without Lessor's written consent
thereto after expiration or other termination of this Lease or in the event Tenant continues to occupy the Premises
after the termination of Tenant's right of possession pursuant to Paragraph 23(b) hereof, Tenant covenants and agrees,
throughout the entire holdover period, to pay rent equal to twice the Base Rental, as the same is adjusted pursuant to
the terms hereof, and any additional rent which would have been applicable had the term of this Lease continued
through the period of such holding over by Tenant. No possession by Tenant after the expiration of the term of this
Lease shall be construed to extend the term of this Lease unless Lessor has consented to such possession in writing,
and throughout such holdover period Tenant shall be deemed atenant-at-sufferance.
27. Subordination To Mortgage. Lessor represents and warrants to Tenant that the
Property is not encumbered by a mortgage as of the date of execution of this Lease. This Lease is and shall be
subject and subordinate to any mortgage and/or deed of trust hereafter created by Lessor, upon the Premises, or upon
the Building, and to any renewals, refinancing and extensions thereof, provided that such mortgagee shall execute a
• 10
°'non-disturbance" agreement reasonably acceptable to Tenant. Tenant agrees that any such mortgagee shall have the
. right at any time to subordinate such mortgage and/or deed of trust to this lease on such terms and subject to such
conditions as such mortgagee may deem appropriate in its discretion. Tenant agrees upon written demand to execute
such further instruments subordinating this Lease or attorning to the holder of any such liens as Lessor may reasonably
request provided such agreement contains a "non-disturbance" covenant reasonably acceptable to Tenant. Tenant
agrees that it will from time to time, upon request by Lessor, execute and deliver to such persons as Lessor shall
reasonably request, a statement in recordable form certifying that this Lease is unmodified and in full force and effect
(or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which
rent and other charges payable under this Lease have been paid, stating that Lessor is not in default hereunder (or if
Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Lessor
or its mortgagee(s) shall reasonably require, Tenant shall, in the event of the sale or assignment of Lessor's interest
in the Building of which the Premises form a part, (providing Lessor is not then in default) or in the event of any
proceedings brought for the foreclosure of, or in the event of exercise of the power of sale under, any mortgage made
by Lessor covering the Premises, attorn to the purchaser and recognize such purchaser as Lessor under this Lease.
A covenant of nondisturbance shall be acceptable to Tenant if it states that, providing the Tenant is not then in default
of this Lease, the mortgagee, upon taking title to the property by foreclosure or by deed in lieu thereof, will not
disturb the Tenant's peaceful use and enjoyment of the Premises and that the mortgagee shall assume the Lessor's
obligations hereunder from [he date mortgagee takes title to the property.
28. Attorney's Fees. In the event of litigation arising from this Lease the prevailing party shall
be entitled to an award of reasonable attorney's fees and costs from the other party, including at the trial and any
appellate levels.
29. No Implied Waiver. The failure of either party to insist at any time upon the strict performance
of any covenant or agreement or to exercise any option, right, power or remedy contained in this Lease shall not be
construed as a waiver or a relinquishment thereof for the future. No payment by Tenant or receipt by Lessor of a
• lesser amount than the monthly installment of rent due under this Lease shall be deemed to be other than on account
of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying
any check or payment as rent be deemed an accord and satisfaction, and Lessor may accept such check or payment
without prejudice to landlord's right to recover the balance of such rent or pursue any other remedy provided in this
Lease.
30. Limitation of Liability. The liability of Lessor to Tenant for any default by Lessor under
the terms of this Lease shall be limited to the interest of Lessor in the Building and the Property, and Tenant agrees
to look solely to Lessor's interest in the Building and the Property for the recovery of any judgment from the Lessor,
it being intended that landlord shall not be personally liable for any judgment or deficiency,
31. Notice. Any notice, demand or request to be given pursuant to this Lease must, unless
otherwise expressly provided herein, be in writing, and may, unless otherwise in this Lease expressly provided, be
given or be served by hand delivery, or by depositing the same in the United States mail, postage prepaid and certified
and addressed to the party to be notified, with return receipt requested, or by prepaid telegram, when appropriate,
addressed to the party to be notified at the address stated in this Lease or such other address notice of which has been
given to the other party. Notice deposited in the mail in the manner hereinabove described shall be effective upon
mailing. Until further notice, the addresses for the parties shall be as follows:
As To Lessor: Tequesta Business Associates
Attention: Harriet Smith
H. Smith Realty
250 Tequesta Dr., Suite 206
Tequesta, Florida 33469
• 11
with a copy to: Ronald Pflug, Esq.
• 266 Harristown Road
Glen Rock, New Jersey 07452
As to Tenant: The Village of Tequesta ~~~,- ~~a;,,~~.
~/0 oi~ , Villageanager
250 Tequesta Drive, Suite 300
Tequesta, Florida 33469
32. Severability. If any term or provision of this Lease, or the application thereof to any person or
circumstance shall, to any extent, be invalid or unenforceable, the remainder of this lease, or the application of such
term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall
not be affected thereby, and each term and provision of this Lease shall be valid and enforced to the fullest extent
permitted by law.
33. Recordation. Tenant agrees not to record this Lease or any memorandum hereof, but Lessor may
record this Lease or a memorandum thereof, at its sole election, and Tenant agrees to execute such reasonable
memorandum upon request by Lessor.
34. Governing Law; Venue. This Lease and the rights and obligations of the parties hereto
shall be interpreted, construed, and enforced in accordance with the laws of the State of Florida without regard to
principles of conflicts of law. Venue of all proceedings in connection therewith shall be in Palm Beach County,
Florida, and each party hereby waives whatever their respective rights may have been in the selection of venue.
35. Time of Performance. Except as expressly otherwise herein provided, with respect to
all required acts of Tenant, time is of the essence of this Lease.
36. Force Majeure. Whenever a period of time is herein prescribed for the taking of any action
by Lessor, Lessor shall not be liable or responsible for, and there shall be excluded from the computation of such
period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, governmental laws,
regulations or restrictions, financing, or any other cause whatsoever beyond the control of Lessor.
37. Transfers by Lessor. Lessor shall have the right to transfer and assign, in whole or
in part, all its rights and obligations hereunder and in the Building and the Premises referred to herein. In such event
and upon such transfer and acceptance by the Assignees of the assignment and the rights and obligations hereunder,
Lessor shall be released from any further obligations hereunder. Tenant agrees to look solely to such successor in
interest of Lessor for the performance of such obligations.
38. Brokers. Lessor and Tenant each represent and warrant one to the other that except as may
be hereinafter set forth, neither of them has employed any broker in connection with the negotiations of the terms of
this Lease or the execution thereof. Lessor and Tenant hereby agree to indemnify and to hold each other harmless
against any loss, expense or liability with respect to any claims for commissions or brokerage fees arising from, or
out of any breach of the foregoing representation and warranty. Lessor recognizes H.
Smith Realty as the sole broker with whom Lessor has dealt in this transaction and agrees to pay any commissions
determined to be due said broker.
39. Effect of Delivery of this Lease. Lessor has delivered a copy of this Lease to Tenant for
Tenant's review only, and the delivery hereof does not constitute an offer to Tenant or an option to lease. This Lease
shall not be effective until a copy executed by both Lessor and Tenant is delivered to and accepted by Lessor and
• 12
Tenant.
40. Captions. The Paragraph captions used herein are for convenience and reference only.
42. Relationship of Parties. Nothing contained herein shall be deemed or construed by the
parties hereto, nor by any third party, as creating the relationship of principal and agent or of partnership or of joint
venture between the parties hereto, it being understood and agreed that neither the method of computation of rent, nor
any other provision contained herein, nor any acts of the parties herein, shall be deemed to relationship of Lessor and
Tenant.
41. Exhibits: The following numbered exhibits are attached hereto and incorporated herein and
made a part of this Lease for all purposes:
Legal description of the underlying property attached hereto as Exhibit "A".
b, Floor Plan attached hereto as Exhibit "R".
c. Option Addendum attached hereto as Exhibit "C".
d. Increase In Base Rental Based on Increases In the Consumer Price
Index "D".
e. Memorandum to Enter Into a Lease and Receipt of Deposit as Exhibit
~~E~~.
42. Amendments. The provisions of this Lease may not be modified or amended, except by
an instrument in writing and signed by all parties hereto.
43. Binding Effect. This Lease shall be binding upon and inure to the benefit of Lessor, its
successors and assigns, and Tenant, its successors and , to the extent an assignment is permitted under the terms of
this Lease, Tenant's assigns.
45. Entire Agreement. This Lease and the Exhibits hereto constitute the entire agreement between
the parties hereto pertaining to the subject matter contained herein and supersedes all prior and contemporaneous
agreements, representations, and understanding of the parties. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by all parties. No waiver of any of the provisions of this
Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any
waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the
waiver.
46. Pronouns. Pronouns used herein shall be deemed to refer to whatever gender and number the
identity of the person or persons involved may require, and words in the singular shall be construed as though in the
plural, or in the plural as though in the singular, wherever the context so admits.
47. Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in
a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of
Radon that exceeds federal and state guidelines have been found in buildings in Florida. Additional information
regarding Radon and Radon testing may be obtained from your county public health unit.
• 13
48. Americans With Disabilities Act of 1990. Lessor and Tenant intend to allocate their
compliance responsibilities under the Americans with Disabilities Act of 1990 (ADA) as provided herein. Provided
any changes are required, the Lessor shall be responsible for making readily achievable changes and providing
auxiliary aid and services in common areas and for modifying policies, practices or procedures applicable to all
tenants, The Tenant shall be responsible for readily achievable changes, provision of auxiliary aids, and modifications
of policies within the Premises and in the operation of its business.
49. Option to Renew. The Option Addendum attached hereto as Exhibit "C" is incorporated
herein and made a part hereof.
50. Memorandum to Enter Into Lease and Receipt for Deposit. The parties hereto agree that
the covenants set forth in paragraph F., items 1 through 4, and 5. a. through f. of the Memorandum to Enter Into
Lease and Receipt for Deposit executed by the parties shall survive the execution of this Lease provided, however,
that Lessor will not be obligated to make these improvements at the beginning of any option period if tenant shall
exercise its option to renew.
IN WITNESS WHEREOF, Lessor and Tenant have executed this Lease in multiple original
counterparts as of the day and year first above written.
Executed in the Presence of:
TEQUESTA BUSINESS ASSOCIATES
BY: TEQUESTA CORPORATE CENTER
PARTNERS, INC., a Florida Corporation,, as
~`,, General Partner
As to Less r Herman Jeffer,, ent
~ - : ~:;~
~. ~ ~..
to Lessor
~_~~
THE VILLAGE OF TEQUESTA
,,~ _ BY, .~ ~'' ~, ,
As£to Tenant Michael C uzzo,~'~~ la eVI ager
As to Tenant
Lessor agrees to pay a commission to H. Smith Realty in accordance with a separate listing agreement
between Lessor and H. Smith Realty.
• 14
Executed in the Presence of:
• Lessor:
TEQUESTA BiJSINESS ASSOCIATES
BY: TEQUESTA CORPORATE CENTER
PARTNERS, INC., a Florida Corporation,
as General Partner
~ t=`
BY: .~
Ferman ,President
f Ir
~.
•
•
15
• Exhilba~ „~„
,4 Parcel of Land in Section 30, `Township 40 South, Rage 43 East Palm Beach County, Florida, being more
particularly described as follows:
From the point of intersection of the center line of State Road No. 5 (U.S. Highway No. 1), with the South
line of said Section 30, bear N 03 deg 54" 55" E, along said center line, a distance of 695.55 feet; thence bear S 89
deg 46' S5: W, along the north right-of--way line of Bridge Road and its easterly extension, a distance of 876.58 feet
to the POINT OF BEGINNING; thence continue S 89 deg 46' S5", W along said north right-of way line, a distance
of 94.23 feet, to the intersection with the easterly right-of-way line of Old Dixie Highway, as recorded in Road Plat
Book 5, Page 146, Palm Beach County Public Records; thence bear N 56 deg 13' 43" W, along said easterly right-of-
way line, being the chord of a curve having a radius of 25.0 feet, a distance of 27.95 feet; thence bear N 22 deg 14°
20" W, along said easterly right-of-way line, a distance of 219.87 feet; thence continue along said easterly right-of-
way line, on a bearing of N 22 deg 52' 40" E, being the chord of a curve having a radius of 25.0 feet, a distance of
35.43 feet to the intersection with the southerly right-of--way line of Tequesta Drive thence bear N 67 deg 59' 40" E,
slang said southerly right-of--way tine, a distance of 200.25 feet; thence beaz S 00 deg 13' OS" E, a distance of 326.37
feet to the POINT OF BEGINNING.
Except for the following parcel:
Being a portion of land for additional right-of-way purposes for Tequesta Drive, Village of Tequesta in
Section 30, Township 40 South, Range 43 East, Palm Beach County, Florida and being more particularly described
as follows:
Commencing at a paint on the South line of said Section 30: State Route 5 (US 1) with the said South line
of Section 30; thence North 03 deg 23' S$" East along said centerline of right-of--way, a distance of 1,169.71 feet
to the point of intersection with the centerline of right-of-way for Tequesta Drive; thence South $9 deg 20' 09" west
along said centerline of Tequesta Drive, a distance of 582.91 feet to a Point of Curve concave to the southeast having
a radius of 350.00 feet and central angle of 21 deg 48' 00"; thence along the arc of said curve and the said centerline
of Tequesta Drive, a distance of 133.17 feet; thence South 67 deg 32' 09" West, along said centerline of Tequesta
Drive, a distance of 224.54 feet; thence South 22 deg 27' S 1 " East, a distance of 40.00 feet to a point on the Southerly
line of Tequesta Drive as recorded in O.R.B. 872, Page 257 of the Public Records of Palm Beach County, Florida
and the Point of Beginning: thence South 00 deg 40' 36" East along the Easterly line of said Pazcel 12, a distance
of 5.38 feet; thence South 67 deg 32' 09" West, a distance of 198.23 feet; thence South 22 deg 25' 09" West along
the long chord of a 25 faot radius, a distance of 35.43 feet to a point of the Easterly line of Old Dixie I3ighway as
recorded in O.R.B. 2568, page 132 of the said Public Records; thence North 22 deg 41' S1 " West along said Easterly
line of Old Dixie Highway, a distance of 5.00 feet; thence North 22 deg 25' 09" East, a distance 35.43 feet to a point
on said Southerly line of Tequesta Drive;
thence North 67 deg 32' 09" East along said Southerly line of Tequesta Drive, a distance of 200,25 feet to the Point
of Beginning.
Containing in area 1,122 squaze feet more or less.
Subject to existing easements, Rights-of--Way, Restrictions and Reservations of Record.
16
TEQUESTA CORPORATE CENTER
i
250 Tequesta Drive Tequesta, Florida 33469 561-747-4177 Fax 561-747-4189
EXHIBIT "C"
OPTION ADDENDUM
Provided Tenant shall not be in default under any of the terms, covenants, or conditions of the attached Lease
on Tenant's part to be performed, and provided that no event shall have occurred which, with the running of time or
the giving of notice, or both, would result in an event of default, and further provided that there shall not have
occurred, damage or destruction to or a condemnation of the Demised Premises which would entitle Lessor to
terminate the said Lease pursuant to the terms thereof, Tenant shall have the Option to renew the Lease for ONE (1)
additional ONE (1) year terms, upon the following terms and conditions:
1. The One Year option term timely exercised in accordance with this Exhibit "C" shall commence
at the time of the expiration of the initial one year term of the Lease, and shall continue for a term of one year
thereafter.
2. The One Year option rental amount shall remain at the $16.50 per square foot for a total monthly
rental amount of $1,550.00 per month.
3. In order to exercise the option herein granted, Tenant shall be required to deliver, either by hand
delivery or by certified mail with return receipt requested, to Lessor a written notice of the exercise of the option,
which said notice shall be in a form legally sufficient to bind Tenant, not later than sixty (60) days prior to the
expiration of the initial one year or any one year terms if option is exercised of the Lease.
4. In the event Tenant fails to timely exercise the option herein granted, then the option shall become
automatically null and void.
• 5. All of the terms, conditions, obligations and duties set forth in the Lease shall continue and prevail
during the Option term(s), except for the waiver of any rental payments and as modified hereby.
After the initial one year lease and the one year option, if exercised, Lessee shall be on a month-to-
month tenancy.
17
~3v
• OFFICE LEASE AGREEMENT
THIS LEASE AGREEMENT this "Lease" '~ ``'~"~''
( ), is made and entered into on the its` day of April,
2001, by and between TEQUESTA BUSINESS ASSOCIATES, a Florida General Partnership ("Lessor");
and The Village of Tequesta, a Florida Municipal Corporation. ("Tenant").
WITNESSETH:
1. Definitions. Lessor and Tenant hereby agree that the words and phrases set forth below shall,
when used in this Lease, have the following meaning:
(a) "Building" shall mean office building known as "250 Tequesta Drive, Tequesta, Florida"
located upon the real property (the "Property") described in Exhibit "A" attached hereto and incorporated herein.
Reference made to the Property in this Lease shall be deemed to include the Building unless expressly provided
otherwise.
(b) "Premises" shall mean the suite of offices located within the Building known as Suite 1304
containing approximately 2,400 square feet. A copy of the approximate floor plan of the Premises is attached hereto
as Exhibit "B".
(c) "Base Rental" shall mean the sum of Thirty-Nine Thousand Six Hundred 00/100
($39,600.00) Dollars per annum, payable in equal montlily installments of Three Thousand Three Hundred and
00/100 Dollars ($3,300.00) per month, which includes CAM charges and as adjusted pursuant to Paragraph 5 hereof.
• (d) "Commencement Date" shall be July 1, 2001.
(e) "Lease Term" shall mean a term commencing on the Commencement Date and continuing
until Twelve (12) months after the Commencement Date, terminating on June 28, 2002 The firs[ "Lease Year" shall
be the first full twelve (12) month period of the Lease Term, and thereafter, each successive twelve (12) month period
shall be deemed a "Lease Year. "
(fl NO SECURITY DEPOSIT REQUIRED.
(g) "Common Areas" shall mean those areas devoted to corridors, elevator foyers and elevator
cabs, restrooms, mechanical rooms, janitorial closets, electrical and telephone closets, vending azeas and other similar
facilities provided for the common use or benefit of tenants generally and/or the public.
(h) "Service Areas" shall mean those areas within the exterior walls of the Building used for
elevator mechanical rooms, building stairs, fire towers, elevator shafts, flues, vents, stacks, pipe shafts and vertical
ducts (but shall not include any such areas designated for the exclusive use of benefit of the Tenant).
(i) "Exterior Common Areas" shall mean those portions of the Property which are not
located within the Building and which aze provided and maintained for the common use and benefit of Lessor and
tenants of the Building generally and the employees, invitees and licensees of Lessor and such Tenants; including,
without limitation, all parking areas, enclosed or otherwise, and all streets, sidewalks and landscaped areas.
• 1
(j) "Building Standard Improvements" shall mean those improvements (including the "Shell
Improvements ") constructed or installed within the Premises by Lessor.
(k) "Building Grade" shall mean the type, brand and/or quality of materials Lessor designates
from time to time to be the minimum quality to be used in the Building ar the exclusive type, grade or quality of
material to be used in providing the Building Standard Improvements.
(1) NO ADVANCE RENT IS REQUIRED.
2. Lease Grant. Subject to and upon the terms, provisions and conditions herein set forth, and each
in consideration of the covenants of the other hereunder, Lessor leases to Tenant and Tenant leases from Lessor the
Premises.
3. Lease Term. This Lease shall continue in force during a period beginning on Commencement
Date and continuing until the expiration of the Lease Term, unless this Lease is sooner terminated or extended to a
later date under any other term or provision hereof.
4. USe. The Premises shall be used and occupied by Tenant solely for the purpose of governmental
administrative offices for The Village of Tequesta, Finance and Water Utility Departments of the Village, and any
other lawful office purpose. Tenant agrees not to use or permit the use of the Premises or the Building for any
purpose which is illegal, or which, in Lessor's sole opinion, creates a public nuisance or which would increase the
cost of insurance coverage with respect to the Building.
5. Rental.
• (a) Tenant covenants and agrees to pay during the Lease Term, to Lessor, without any setoff
or deduction whatsoever, the Base Rental and all such other sums of money as shall become due hereunder as
additional rent (all of which are sometimes herein collectively called "rent"), for the nonpayment of which Lessor shall
be entitled to exercise all such rights and remedies as are herein provided in the case of the nonpayment of Base
Rental. The Base Rental payable during each calendar year or portion thereof during the Lease Term, as increased
pursuant to subparagraph (d) below, shall be due and payable in twelve (12) equal installments on the fifteenth day
of each calendar month during each term of this Lease and any extensions or renewals thereof, and Tenant hereby
agrees to pay such Base Rental to Lessor at Lessor's address provided herein (or such other address as may be
designated by Lessor in writing from time to time). Tenant agrees to pay all such sums in advance monthly, and
without notice or demand. If the Lease Term commences on a day other than the first day of a month or terminates
on a day other than the last day of a month, then the installments of Base Rental and any adjustments thereto for such
month or months shall be prorated, based on the number of days of such month.
(b) All installments of rent and any additional rent not paid when due and payable, following
any grace period provided pursuant to paragraph 23(a) hereof, shall bear interest until paid at the rate of twelve
percent (12 %) per annum.
(c) Tenant represents that it is exempt from all sales tax which may become due as a result of
this lease.
(d) Tenant shall pay the monthly installments of the Base Rental as same come due through the
end of the first Lease Year, and thereafter the Base Rental may be increased at the commencement of the second Lease
Year and each Lease Year thereafter (the first day of the second Lease Year and of each Lease Year thereafter,
including each of the One Year option periods available under Exhibit "C" hereto are hereinafter called Adjustment
Dates) as set forth in Exhibit "D" hereto.
• 2
6. Payment of Operating Expenses. Notwithstanding anything contained in this Lease to the
contrary Common Area Maintenance (CAM) charge is included in rental amount stated in 1(c).
7. Services to be Furnished by Lessor. Lessor agrees to furnish Tenant the following services as part
of the operations of the Building:
(a) Water at those points of supply provided for general use of Tenant and other tenants in the
Building (Common Area);
(b) Subject to the provisions of Paragraph 8, central heat and air conditioning, at such
temperatures and in such amounts as are considered by Lessor to be standard or as required by governmental
authority for all of the common areas. Any costs for repair and/or replacement which are not covered under
Tenant's Service agreement set forth in said Paragraph 8, other than filters, shall be paid equally by Lessor
and Tenant. The cost of filters and the replacement thereof, as to the demised Premises and not the common
areas, shall be borne by the Tenant.
(c) Routine maintenance and electric lighting service for all Common Areas and Service Areas
of the Building in the manner and to the extent deemed by Lessor to be standard including, but not limited
to, elevator maintenance, landscape maintenance, parking lot maintenance, alarm service, roof repair and
maintenance, and window cleaning. Said maintenance shall be performed in a professional manner consistent
with the use of the Building for Bank and professional office uses.
(d) Janitor service and supplies to all Common Areas, Mondays through Fridays, exclusive of
normal business holidays.
(e) Subject to the provisions of Paragraph 11, facilities to provide all electrical current
reasonably required by Tenant in its use and occupancy of the Premises;
(f) All Building Standard fluorescent bulb replacement in the Common Areas and Service
Areas;
(g) Security in the form of limited access to the Building during other than Normal Business
Hours shall be provided in such form as Lessor deems appropriate. Notwithstanding the foregoing, at the
inception of this Lease, there is no security system in place at the building which would result in a fee
for after hours access. Lessor, however, shall have no liability to Tenant, its employees, agents, invitees
or licensees for losses due to theft or burglary, or for damages done by unauthorized persons on the
Premises and neither shall Lessor be required to insure against any such losses. Tenant shall cooperate fully
in Lessor's efforts to maintain security in the Building and shall follow all regulations promulgated by Lessor
with respect thereto. Notwithstanding anything to the contrary contained above, until a system, other than
a dead bolt lock system, is installed at the Building, Tenant shall be provided with a key to the lobby doors
for after hours access for Tenant and its employees, Tenant will have access 7 days per week, 24 hours per
~Y:
The failure by Lessor to any extent to furnish the defined services noted above, in whole or in part, or the
interruption or termination of same, resulting from causes beyond the reasonable control of Lessor shall not render
Lessor liable in any respect nor be construed as an eviction (constructive or otherwise) of Tenant, nor cause an
abatement of rent, nor relieve Tenant from the obligation to fulfill any covenant or agreement hereof. Should any
of the equipment or machinery used in the provision of such services cease for any reason to function properly, Tenant
shall have no claim for offset or abatement of rent or damages on account of an interruption in service occasioned
thereby or resulting therefrom.
8. Care of the Premises by Tenant. The Tenant shall keep the interior of the demised
Premises, which includes, but is not limited to, all electrical, plumbing, heating, air-conditioning, and other
mechanical installation therein, all doors, and all plate glass and door and window glass, in good order. With the
exception for those services to be provided by the Lessor as set forth in Paragraph 7 above, Tenant shall make all such
repairs, alterations, replacements and modifications at its own expense and using materials and labor of a kind and
quality equal to the original work. Tenant shall surrender the demised Premises at the expiration or earlier termination
of the Lease in as good condition as when received, excepting only deterioration caused by ordinary wear and tear
and damaged by fire or other casualty of the kind insured against in standard policies of fire insurance with extended
coverage. Except as hereinabove provided, the Lessor shall have no obligation to repair, maintain, alter, replace, or
modify the demised Premises or any part thereof, or any electrical, plumbing, heating, air-conditioning, or other
mechanical installation therein other than is listed in the addendum.
Tenant shall arrange for the maintenance of all heating and air conditioning equipment for its Premises with
a heating and air conditioning contractor approved in writing by the Lessor, which contractor will carry out such
maintenance on a scheduled basis (not less than quarterly) and will furnish the name of the contractor and a copy of
the maintenance program to Lessor for Lessor's approval, which approval shall not be unreasonably withheld.
Tenant shall not permit any liens to be attached to the demised Premises by reason of any labor or material
used in repairs or alterations. by Tenant.
Tenant shall be responsible for all damage and repairs to the Premises caused by burglary or vandalism to
Tenant's usable azea.
Tenant shall be responsible for cleaning and painting before taking occupancy at their own expense.
Tenant has permission to install a door, at their own expense, from the back office of Suite 305 to the back
corner office of Suite 304. Upon lease expiration, Tenant may be required to remove door and patch wall to keep
Suite 304 and 305 as separate suites. This item will be discussed and negotiated at that time.
9. Graphics. Lessor shall provide and install, at Tenant's expense, all letters or numerals on
doors entering the Premises. All such letters and numerals shall be in the standard graphics as approved by Lessor
for the Building, and no others shall be permitted on the Premises without Lessor's prior written consent. No sign
or visual advertisement shall be placed in any window.
10. Use of Electrical Services by Tenant. Tenant's use of electrical services furnished
by Lessor shall not exceed, either in voltage, rated capacity, or overall load that which Lessor deems to be Building
Standard. In the event Tenant shall request that it be allowed to consume electrical services in excess of that deemed
by Lessor to be Building Standard, Lessor may refuse to consent to such usage or may consent upon such conditions
as Lessor elects (including the requirement that submeters be installed at Tenant's expense).
11. Farking.
During the term of this Lease, Lessor shall provide Tenant with unassigned parking spaces in the
covered and uncovered parking areas located on the Property, such parking spaces and all driveways and walk-ways
located on the Property to be used by Tenant on anon-exclusive basis with Lessor and other tenants of the Building,
their guests and invitees. All covered and uncovered parking shall be provided at no charge to Tenant and shall be
on a first-come first-serve basis.
Lessor shall have a right to designate the location of Tenant's parking, and alter such designation
upon reasonable notice to Tenant. Any such designation shall be done equitably as to each of the tenants of the
4
Building. Lessor shall also have the right to establish or modify the methods used to control parking on the Property,
including without limitation the installation of certain control devises or the hiring of parking attendants.
Lessor shall not be liable for any damage to or any theft of any vehicle, or any contents therefrom,
while in or about the parking areas located on the Property.
12. Law and Regulations. Tenant agrees to comply with all applicable laws, ordinances,
rules and regulations of any governmental entity, agency or authority having jwisdiction of the Premises or Tenant's
use thereof.
13. Building Rules and Regulations. Tenant will comply with reasonable Hiles and regulations
of the Building adopted and altered by Lessor from time to time and will cause all of its agents, employees, invitees
and visitors to do so. Lessor shall give Tenant notice of all such rules and regulations and any changes thereto, and
Tenant shall be charged with compliance with such rules and regulations and any changes thereto, and Tenant shall
be charged with compliance with such rules and regulations, as the same may be changed from time to time, from
the date of said notice.
14. Entry by Lessor. Tenant agrees to permit Lessor or its agents or representatives to enter
into and upon any part of the Premises at all reasonable business hows (and in emergencies at all times) to inspect
the condition, occupancy or use thereof, or to show the Premises to prospective purchasers, mortgagees, tenants
(within the last three (3) months of the Lease) or insurers, or to clean or make repairs, alterations or additions thereto,
and Tenant shall not be entitled to any abatement or reduction of rent by reason thereof. Lessor shall, in good faith,
provide reasonable advance notice to Tenant prior to entry into or upon the Premises. Tenant shall provide Lessor
with a current key to the Demised Premises and shall promptly provide Lessor with a new key in the event
Tenant has the locks changed at the Premises during the term of this Lease.
15. Assignment and Subletting
(a) Tenant shall not assign, sublease, transfer, pledge or encumber this Lease or any interest therein
without Lessor's prior written consent (which consent may not be unreasonably withheld by the Lessor). Any
attempted assignment, sublease or other transfer or encumbrance by Tenant in violation of the terms and covenants
of this paragraph shall be void.
(b) In the event that Tenant shall desire Lessor's consent to either the subletting of the Premises,
in whole or in part, or the assignment of Tenant's entire interest under the Lease, Tenant shall give Lessor fifteen (15)
business days prior written notice thereof. Such notice shall, at Lessor's option, be deemed to be an offer by Tenant
to either, as the case may be: (i) sublet the Premises (or such portion thereof which Tenant would sublet) to Lessor
for the balance of the Lease Term (or for such portion of the Lease Term for which Tenant would sublet) upon all
the same terms, covenants and conditions as are otherwise contained in this Lease; (ii) assign this Lease to Lessor
for the sole consideration of Lessor's release of Tenant from any liability hereunder. In the event that Lessor does
not exercise such option by notice to Tenant in writing within fifteen (15) business days following the receipt of said
notice from Tenant, then Lessor's right to either sublease the Premises (or such portion thereof) or acquire this Lease
by assignment, as the case may be, shall be deemed to be waived; provided that such waiver if any shall not be
deemed to be a consent by Lessor to any such subletting or assignment unless Lessor delivers to Tenant its written
consent thereto. Notwithstanding Lessor's consent or waiver on any one occasion, Lessor's option to treat Tenant's
request for consent as an offer to sublet or assign as provided in this subparagraph shall apply to any further subletting
or assignment.
(c) The covenants in this Paragraph concerning assignment shall run with the land and shall bind
the parties and their heirs, executors, administrators, personal representatives, successors and permitted assigns.
5
(d) Notwithstanding Lessor's consent to any assignment or subletting by Tenant, Tenant shall remain
liable for the full and faithful performance of the covenants and conditions of this Lease unless expressly released in
writing by Lessor.
16. COnStruCtiOn liens. Tenant will not permit any construction lien or liens to be placed upon
the Premises or any portion of the Building or the Property, and nothing in this Lease shall be deemed or construed
in any way as constituting the consent or request of Lessor, express or implied, by inference or otherwise, to any
person for the performance of any labor or the furnishing of any materials to the Premises, or any part thereof, nor
as giving Tenant any right, power, or authority to contract for or permit the rendering of any services or the furnishing
of any materials that would or might give rise to any mechanic's or other liens against the Premises. In the event any
such lien is claimed against the Premises, then Tenant shall discharge same or transfer such lien to other security
within thirty (30) days of notice thereof. In the event that Tenant fails to discharge or otherwise remove any such
liens, then, in addition to any other right or remedy of Lessor, Lessor may, but shall not be obligated to, discharge
the same. Any amount paid by Lessor for any of the aforesaid purposes shall be reimbursed by Tenant to Lessor
within ten (10) days of Lessor's demand therefor as additional rent.
17. Insurance.
(a) The Lessor shall during the entire Term hereof, obtain, maintain and keep in full force and
effect, with Lessor and the mortgagees of Lessor named as insured therein as their respective interests may appear,
the following insurance:
(i) Fire Insurance including extended coverage, vandalism and malicious mischief upon
property of every description and kind awned by Lessor and located in the Building and/or Common Areas,
including, without limitation, furniture, fittings, installations, fixtures and any other personal property,
Leasehold Improvements and alterations, in an amount not less than ninety (90%) percent of the full
replacement cost thereof.
(ii) Comprehensive general liability coverage to include personal injury, bodily injury, broad
form property damage, operations hazard, owner's protective coverage, contractual liability and products
and completed operations liability if available, in limits not less than One million ($1,000,000.00) Dollars
inclusive.
(iii) Business interruption insurance (rent loss), if available, in such amounts as will reimburse
property losses due to (1) the Building or any part thereof becoming out of repair or by defect in or failure
of pipes or wiring, or by the backing up of drains, or by the bursting or leaking of pipes, faucets and
plumbing fixtures, or by gas, water, steam, electricity or oil leaking, escaping or flowing into the Demised
Premises, whether or not caused by negligence of Lessor, or (2) any loss or damage that may be occasioned
by or through the acts or omissions of other tenants in the Office Building or of any other persons
whatsoever, exception only the willful misconduct or gross negligence of duly authorized employees and
agents of Lessor, or (3) any 'loss or damage to any property or person occasioned by theft, fire, act of God,
public enemy, injunction, riot, insurrection, war, court order, requisition or order of governmental authority,
or any other matter beyond the control of Lessor. Tenant agrees that Tenant shall be responsible for all of
Tenant's personal property brought, placed or installed upon or within the Premises and shall be liable for
any damage thereto or theft thereof.
(b) Lessor may, but shall not be obligated to, take out and carry any other form or forms of
insurance as it or the mortgagees of Lessor may reasonably determine advisable. Tenant acknowledges that it has
no right to receive any proceeds from any such insurance policies carried by Lessor. Lessor will not be obligated to
carry insurance of any kind on Tenant's furniture or furnishings, or on any fixtures, equipment, improvements or
appurtenances of Tenant under this Lease; and Lessor shall not be obligated to repair any damage thereto or replace
6
the same.
(c) The Tenant shall, during the entire Term hereof, obtain, maintain and keep in full force
and effect, such commercial policy(s) of insurance commonly known as a "renter's policy", providing comprehensive
general liability coverage as to personal injury, bodily injuries, road form property damage, operations, hazard,
owner's protective coverage, contractual liability and products and completed operations liability, if applicable and
available, in such reasonable limits as required by Lessor. Tenant's obligations to obtain said renter's policy shall
be limited to the demised Premises only. Tenant shall provide Lessor with a Certificate of Insurance, naming Lessor
and Lessor's property manager Harriet Smith and H. Smith Realty, Inc. as an additional insured, prior to taking
occupancy of the Demised Premises. The insurance policy shall provide that Lessor must be provided with a
minimum of thirty (30) days advance notice in the event of cancellation.
(d) Tenant agrees that it will not keep, use, sell or offer for sale in or upon the Premises any
article which may be prohibited by any insurance policy in force from time to time covering the Building and/or the
Premises. In the event Tenant's occupancy or conduct of business in, or on the Premises, whether or not Lessor has
consented to the same results in any increase in premiums for the insurance carried from time to time by Lessor with
respect to the Office Building, Tenant shall pay any such increase in premiums as additional rent within ten (10) days
after being billed therefor by Lessor. In determining whether increased premiums are a result of Tenant's use or
occupancy of the Premises, a schedule issued by the organization computing the insurance rate on the Building or the
Leasehold Improvements showing the various components of such rate, shall be conclusive evidence of the several
items and charges which make up such rate. Tenant shall promptly comply with all reasonable requirements of the
insurance authority or of any insurer now or hereafter in effect relating to the Premises.
(e) If any insurance policy carried by Lessor, as provided by Section 17(a) hereof, shall be
canceled or cancellation shall be threatened, or the coverage thereunder reduced or threatened to be reduced, in any
way by reason of the use of occupancy of the Premises or any part thereof by Tenant or by assignee or sub-tenant or
Tenant or by anyone permitted by Tenant to be upon the Premises and, if Tenant fails to remedy the condition giving
rise to cancellation, threatened cancellation or reduction of coverage within forty-eight (48) hours after notice thereof,
(excluding Saturdays, Sundays, and legal holidays), Lessor may, at its option, either terminate this Lease or enter
upon the Premises and attempt to remedy such condition and Tenant shall forthwith pay the cost thereof to Lessor as
additional rent. Lessor shall not be liable for any damage or injury caused to any property of Tenant or of others
located on the Premises as a result of such entry. In the event that Lessor shall be unable to remedy such condition,
then Lessor shall have all of the remedies provided for in this Lease in the event of a default by Tenant.
Notwithstanding the foregoing provisions of this Section 17(e), if Tenant fails to remedy as aforesaid, Tenant shall
be in default of its obligation hereunder and Lessor shall have no obligation to attempt to remedy such situation.
(f) Any policy or policies of fire, extended coverage or similar casualty insurance, which either
party obtains in connection with the Premises shall include a clause or endorsement denying the insurer any rights of
subrogation against the other party to the extent rights have been waived by the insured prior to the occurrence of
injury or loss. Lessor and Tenant waive any rights of recovery against the other for injury or loss due to hazards
covered by insurance containing such a waiver of subrogation clause or endorsement to the extent of the injury or loss
covered thereby.
(g) Any policy or policies as required pursuant to the terms of Section 17(a) herein, shall
contain a clause that the insurer shall not cancel or change the insurance policy without first giving ten (10) days prior
written notice to Lessor. Lessor reserves the right to require an increase in the amounts of the comprehensive general
liability coverage, from time to tone during the Term of this Lease, as Lessor should, in its sole discretion, deem
reasonable and necessary.
1$. Assumption of Risks. The Lessor or its assigns shall not be liable to Tenant or Tenant's
customers, licensees, agents or guests or employees for any injury or damages to its, his or their persons or property
by any cause whatsoever, including, but not limited to, acts or omissions of any other tenant in the Building,
•
7
construction defects, water, rain, sleet, fire, storms, negligence and accidents, breakage, stoppage or leaks of gas,
water, heating, sewer pipes, boilers, wiring or plumbing or any other defect in or about the Premises.
19. Waiver of Subrogation Rights. Anything in this Lease to the contrary notwithstanding,
Lessor and Tenant each hereby waive any and all rights of recovery, claim, action, or cause of action, against the
other, its agents, officers, or employees, for any loss or damage that may occur to the Premises, or any improvements
thereto, or the Building of which the Premises are a part, or any improvements thereto, or any personal property of
such party therein, by reason of fire, the elements or any other cause(s) which aze insured against under the terms
of the standard fire and extended coverage insurance policies referred to in Paragraph 17 hereof, regardless of cause
or origin, including negligence of the other party hereto, its agents, officers, or employees; provided that such waiver
by either Lessor or Tenant does not limit in any way such party's right to recovery under such insurance policies.
Lessor and Tenant shall each obtain an endorsement to all of their insurance policies to effect the provisions of this
paragraph, provided that such endorsements aze available at no additional cost.
20. Casualty Damage. If the Premises or any part thereof shall be damaged by fu•e or other
casualty, Tenant shall give prompt written notice thereof to Lessor. If the Building shall be so damaged that
substantial alteration or reconstruction of the Building shall be required (whether or not the Premises shall have been
damaged by such casualty) or in the event any mortgagee of Lessor's should require that the insurance proceeds
payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material
uninsured loss to the Building, either Lessor or Tenant may, at their option, terminate this Lease by notifying the other
in writing of such termination within ninety (90) days after the date of such damage. If neither Tenant nor Lessor
elects to terminate this Lease, Lessor shall commence and proceed with reasonable diligence to restore the Building
to substantially the same condition in which it was immediately prior to the happening of the casualty, except that
Lessor's obligation to restore shall not exceed the scope of the work required to be done by Lessor in originally
constructing the Building and installing Improvements in the Premises, nor shall Lessor be required to spend for such
work an amount in excess of the insurance proceeds actually received by Lessor as a result of the casualty. Lessor
shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any
way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall
allow Tenant a fair abatement of rent during the time and to the extent the Premises are unfit for occupancy, including
during restoration thereof. Notwithstanding anything herein to the contrary, if the Premises or any other portion of
the Building be damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant's
agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage, and
Tenant shall be liable to Lessor for the entire cost of the repair and restoration of the Building caused thereby to the
extent such cost and expense is not covered by Lessor's insurance proceeds.
21. Condemnation. If the whole of the Building, Property or the Premises should be taken
for any public or quasi-public use, by right of eminent domain or otherwise, or if the same should be sold in lieu of
condemnation, then this Lease shall terminate as of the date when physical possession of the Building, Property, or
the Premises is taken by the condemning authority. If less than the whole of the Building including the Premises,
or Property is thus taken or sold, then Lessor (whether or not the Premises are affected thereby) may, at its option,
terminate this Lease by giving written notice thereof to Tenant, in which event this Lease shall terminate as of the date
when physical possession of such portion of the Building, Premises or Property is taken by the condemning authority.
If this Lease is not so terminated upon any such taking or sale, the Base Rental payable hereunder shall be diminished
by an equitable amount, and Lessor shall, to the extent Lessor deems feasible, restore the Building, the Property
and/or the Premises to substantially their former condition, but such work shall not exceed the scope of the work done
by Lessor in originally constructing the Building and the improvements currently existing in the Premises and/or the
Property, nor shall Lessor in any event be required to spend for such work an amount in excess of the amount received
by Lessor as compensation for such taking. All amounts awarded upon a taking of any part or all of the Building,
the Property or the Premises shall belong to Lessor, and Tenant shall not be entitled to and expressly waives all claim
to any such compensation. Nothing contained herein shall prohibit Tenant from seeking business loss, Tenant's
:~
tenancy loss, or other such claims from the condemning authority.
22. Damages From Certain Causes. Lessor shall not be liable to Tenant for any loss or
damage to any property or person occasioned by theft, fire, act of God, public enemy, injunction, riot, strike,
insurrection, war, court order, requisition, or other such event not within the control of Lessor. Nor shall Lessor be
liable for any damage or inconvenience which may arise through repair or alterations of any part of the Building,
Property, or Premises.
23. Events of Default/Remedies.
(a) The following events shall be deemed to be events of default by Tenant under this Lease:
(i) Tenant shall fail to pay any rent or any other sums of money due hereunder and such
failure shall continue for a period of ten (10) days after the date such sum is due;
(ii) Tenant shall fail to comply with any provision of this Lease or any other agreement
between Lessor and Tenant, all of which terms, provisions, and covenants shall be deemed material
within 60 days of written notice from Lessor;
(iii) the leasehold hereunder demised shall be taken on execution or other process of law
in any action against Tenant;
(iv) Tenant shall become insolvent or unable to pay its debts as they become due, or Tenant
notifies Lessor that it anticipates either condition;
• (v) Tenant takes any action to, or notifies Lessor that Tenant intends to file a petition under
any section or chapter of the Federal Bankruptcy Act, as amended, or under any similar law or
statute of the United States or any State thereof, or a petition shall be filed against Tenant under any
such statute or Tenant or any creditor of Tenant notifies Lessor that it knows such petition will be
filed or Tenant notifies Lessor that it expects such a petition to be filed; or
(vi) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises
or for all or a substantial part of the assets of Tenant.
(b) Upon the occurrence of any event or events of default or other breach of this Lease by
Tenant not arising from Tenant's failure to pay any rent or other sums of money due hereunder within ten (10) days
of the due date, and whether such default or defaults are enumerated in this paragraph or not, then if Tenant fails to
cure any such default within sixty (60) calendar days of written notice from Lessor, Lessor shall have the option to
pursue any one or more of the following remedies: (i) Lessor shall have the right, at its election, to cancel and
terminate this Lease and dispossess Tenant; (ii) Lessor shall have the right without terminating or canceling this
Lease to declare all amounts and rents due under this Lease for the remainder of the existing term (or any applicable
extension or renewal thereof) to be immediately due and payable, and thereupon all rents and other charges due
hereunder to the end of the initial term or any renewal term, if applicable, shall be accelerated subject to a one year
cap; (ii) Lessor may elect to enter and repossess the Premises and relet the Premises for Tenant's account, holding
Tenant liable in damages for all expenses incurred in any such reletting and for any difference between the amount
of rent received from such reletting and the rent due and payable under the terms of this Lease; (iv) Lessor may enter
upon the Premises and do whatever Tenant is obligated to do under this Lease. If Tenant is in default for any reason
which would require written notice from Lessor, and if such default cannot reasonably be expected to be cured within
the said ten (10) day period, then Tenant shall have a reasonable period of time to effect such cure, provided that
Tenant promptly commences the cure and proceeds diligently to completion of same.
•
9
(c) In the event of any default by Tenant arising from the failure to pay rent or any other sum
due hereunder within the ten (10) day period provided in subparagraph 23(a)(i) above, Lessor may, upon three (3)
days written notice, exercise any remedy provided in subparagraph 23(b) above. Notwithstanding the foregoing,
however, within the three-day period, the Tenant shall have the right to cure the default of nonpayment by paying such
sums that aze due and owing as set forth in the said written notice.
(d) This Paragraph 23 shall be enforceable to the maximum extent not prohibited by applicable
law, and the unenforceability of any portion hereof shall not thereby render unenforceable any other portion.
(e) Lessor shall be in default hereunder in the event Lessor has not begun and pursued with
reasonable diligence the cure of any failure of Lessor to meet its obligations hereunder within thirty (30) days (except
for the obligation to provide utility services, working elevators and HVAC, in which case the tune frame shall be
deemed to be three (3) calendar days) of the receipt by Lessor of written notice from Tenant of the alleged failure to
perform. In no event shall Tenant have the right to terminate or rescind this Lease as a result of Lessor's default as
to any covenant or agreement contained in this Lease or as a result of the breach of any promise or inducement hereof,
whether in this Lease or elsewhere, unless said breach shall constitute a constructive eviction of Tenant and Lessor
has not begun and pursued with reasonable diligence to cure the default within the time frame set forth above in this
Paragraph. Tenant hereby waives such remedies of termination and recission and hereby agrees that Tenant's
remedies for default hereunder and for breach of any promise or inducement by Lessor shall be limited to a suit- for
damages and/or injunction.
(f) Tenant agrees to reimburse Lessor on demand for any expenses which Lessor may
reasonably incur in effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that
Lessor shall not be liable for any damages resulting to the Tenant from such action. All such remedies of Lessor shall
be cumulative, and in addition, Lessor may pursue any other remedies that may be permitted by law or in equity.
Forbearance by Lessor to enforce one or more of the remedies herein provided upon an event of default shall not be
deemed or construed to constitute a waiver of such default or remedy.
24. Taxes and Assessments. Tenant shall be liable for all taxes levied or assessed against
personal property, furniture or fixtures or equipment placed by Tenant in the Premises. If any such taxes for which
Tenant is liable are levied or assessed against landlord or Lessor's property and if Lessor elects to pay the same, or
if the assessed value of Lessor's property is increased by inclusion of personal property, furniture or fixtures or
equipment placed by Tenant in the Premises, and Lessor elects to pay the taxes based on such increase, Tenant shall
pay to Lessor upon demand that part of such taxes for which Tenant is liable hereunder. Lessor's demand for payment
shall include reasonable evidence of such tax.
25. Peaceful Enjoyment. Tenant shall, and may peacefully have, hold, and enjoy the
Premises against all persons claiming by, through or under Lessor, subject to the other terms hereof, provided that
Tenant pays the rent and other sums herein recited to be paid by Tenant and performs all of Tenant's covenants and
agreement herein contained. This covenant and any and all other covenants of Lessor shall be binding upon Lessor
and its successors only with respect to breaches occurring during its or their respective periods of ownership of the
Lessor's interest hereunder.
26. Holding Over. In the event of holding over by Tenant without Lessor's written consent
thereto after expiration or other termination of this Lease or in the event Tenant continues to occupy the Premises
after the termination of Tenant's right of possession pursuant to Paragraph 23(b) hereof, Tenant covenants and agrees,
throughout the entire holdover period, to pay rent equal to twice the Base Rental, as the same is adjusted pursuant to
the terms hereof, and any additional rent which would have been applicable had the term of this Lease continued
through the period of such holding over by Tenant. No possession by Tenant after the expiration of the term of this
Lease shall be construed to extend the term of this Lease unless Lessor has consented to such possession in writing,
•
10
and throughout such holdover period Tenant shall be deemed atenant-at-sufferance.
27. Subordination To Mortgage. Lessor represents and warrants to Tenant that the
Property is not encumbered by a mortgage as of the date of execution of this Lease. This Lease is and shall be
subject and subordinate to any mortgage and/or deed of trust hereafter created by Lessor, upon the Premises, or upon
the Building, and to any renewals, refinancing and extensions thereof, provided that such mortgagee shall execute a
"non-disturbance" agreement reasonably acceptable to Tenant. Tenant agrees that any such mortgagee shall have the
right at any time to subordinate such mortgage and/or deed of trust to this lease on such terms and subject to such
conditions as such mortgagee may deem appropriate in its discretion. Tenant agrees upon written demand to execute
such further instruments subordinating this Lease or attorning to the holder of any such liens as Lessor may reasonably
request provided such agreement contains a "non-disturbance" covenant reasonably acceptable to Tenant. Tenant
agrees that it will from time to time, upon request by Lessor, execute and deliver to such persons as Lessor shall
reasonably request, a statement in recordable form certifying that this Lease is unmodified and in full force and effect
(or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which
rent and other charges payable under this Lease have been paid, stating that Lessor is not in default hereunder (or if
Tenant alleges a default stating the nature of such alleged default) and further stating such other matters as Lessor
or its mortgagee(s) shall reasonably require. Tenant shall, in the event of the sale or assignment of Lessor's interest
in the Building of which the Premises form a part, (providing Lessor is not then in default) or in the event of any
proceedings brought for the foreclosure of, or in the event of exercise of the power of sale under, any mortgage made
by Lessor covering the Premises, attorn to the purchaser and recognize such purchaser as Lessor under this Lease.
A covenant of nondisturbance shall be acceptable to Tenant if it states that, providing the Tenant is not then in default
of this Lease, the mortgagee, upon taking title to the property by foreclosure or by deed in lieu thereof, will not
disturb the Tenant's peaceful use and enjoyment of the Premises and that the mortgagee shall assume the Lessor's
obligations hereunder from the date mortgagee takes title to the property.
• 28. Attorney's Fees. In the event of litigation arising from this Lease the prevailing party shalt
be entitled to an award of reasonable attorney's fees and costs from the other party, including at the trial and any
appellate levels.
29. NO Implied Waiver. The failure of either party to insist at any time upon the strict performance
of any covenant or agreement or to exercise any option, right, power or remedy contained in this Lease shall not be
construed as a waiver or a relinquishment thereof for the future. No payment by Tenant or receipt by Lessor of a
lesser amount than the monthly installment of rent due under this Lease shall be deemed to be other than on account
of the earliest rent due hereunder, nor shall any endorsement or statement on any check or any letter accompanying
any check or payment as rent be deemed an accord and satisfaction, and Lessor may accept such check or payment
without prejudice to landlord's right to recover the balance of such rent or pursue any other remedy provided in this
Lease.
30. Limitation Of Liability. The liability of Lessor to Tenant for any default by Lessor under
the terms of this Lease shall be limited to the interest of Lessor in the Building and the Property, and Tenant agrees
to look solely to Lessor's interest in the Building and the Property for the recovery of any judgment from the Lessor,
it being intended that landlord shall not be persanally liable for any judgment or deficiency.
31. NOtiCe. Any notice, demand or request to be given pursuant to this Lease must, unless
otherwise expressly provided herein, be in writing, and may, unless otherwise in this Lease expressly provided, be
given or be served by hand delivery, or by depositing the same in the United States mail, postage prepaid and certified
and addressed to the party to be notified, with return receipt requested, or by prepaid telegram, when appropriate,
addressed to the parry to be notified at the address stated in this Lease or such other address notice of which has been
given to the other party. Notice deposited in the mail in the manner hereinabove described shall be effective upon
mailing. Until further notice, the addresses for the parties shall be as follows:
11
• As To Lessor: Tequesta Business Associates
Attention: Harriet Smith
H. Smith Realty
250 Tequesta Dr., Suite 206
Tequesta, Florida 33469
with a copy to: Ronald Pflug, Esq.
266 Hazristown Road
Glen Rock, New Jersey 07452
As to Tenant: The Village of Tequesta
c/o of Michael Couzzo, Village Manager
250 Tequesta Drive, Suite 300
Tequesta, Florida 33469
32. Severability. If any term or provision of this Lease, or the application thereof to any person or
circumstance shall, to any extent, be invalid or unenforceable, the remainder of this lease, or the application of such
term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall
not be affected thereby, and each term and provision of this Lease shall be valid and enforced to the fullest extent
permitted by law.
33. Recordation. Tenant agrees not to record this Lease or any memorandum hereof, but Lessor may
record this Lease or a memorandum thereof, at its sole election, and Tenant agrees to execute such reasonable
memorandum upon request by Lessor.
34. Governing Law; Venue. This Lease and the rights and obligations of the parties hereto
shall be interpreted, construed, and enforced in accordance with the laws of the State of Florida without regazd to
principles of conflicts of law. Venue of all proceedings in connection therewith shall be in Palm Beach County,
Florida, and each party hereby waives whatever their respective rights may have been in the selection of venue.
35. Time of Performance. Except as expressly otherwise herein provided, with respect to
all required acts of Tenant, time is of the essence of this Lease.
36. Force Majeure. Whenever a period of time is herein prescribed for the taking of any action
by Lessor, Lessor shall not be liable or responsible for, and there shall be excluded from the computation of such
period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, governmental laws,
regulations or restrictions, financing, or any other cause whatsoever beyond the control of Lessor.
37. Transfers by Lessor. Lessor shall have the right to transfer and assign, in whole or
in part, alt its rights and obligations hereunder and in the Building and the Premises referred to herein. In such event
and upon such transfer and acceptance by the Assignees of the assignment and the rights and obligations hereunder,
Lessor shall be released from any further obligations hereunder. Tenant agrees to look solely to such successor in
interest of Lessor for the performance of such obligations.
38. Brokers. Lessor and Tenant each represent and warrant one to the other that except as may
be hereinafter set forth, neither of them has employed any broker in connection with the negotiations of the terms of
this Lease or the execution thereof. Lessor and Tenant hereby agree to indemnify and to hold each other harmless
against any loss, expense or liability with respect to any claims for commissions or brokerage fees azising from or
out of any breach of the foregoing representation and warranty. Lessor recognizes H.
Smith Realty as the sole broker with whom Lessor has dealt in this transaction and agrees to pay any commissions
12
determined to be due said broker.
39. Effect of Delivery of this Lease. Lessor has delivered a copy of this Lease to Tenant for
Tenant's review only, and the delivery hereof does not constitute an offer to Tenant or an option to lease. This Lease
shall not be effective until a copy executed by both Lessor and Tenant is delivered to and accepted by Lessor and
Tenant.
40. Captions. The Paragraph captions used herein are for convenience and reference only.
42. Relationship of Parties. Nothing contained herein shall be deemed or construed by the
parties hereto, nor by any third party, as creating the relationship of principal and agent or of partnership or of joint
venture between the parties hereto, it being understood and agreed that neither the method of computation of rent, nor
any other provision contained herein, nor any acts of the parties herein, shall be deemed to relationship of Lessor and
Tenant.
41. Exhibits: The following numbered exhibits are attached hereto and incorporated herein and
made a part of this Lease for all purposes:
a. Legal description of the underlying property attached hereto as Exhibit "A".
b. Floor Plan attached hereto as Exhibit "B".
c. Option Addendum attached hereto as Exhibit "C".
. d. Increase In Base Rental Based on Increases In the Consumer Price
Index "D".
e. Memorandum to Enter Into a Lease and Receipt of Deposit as Exhibit
~~E~~.
42. Amendments. The provisions of this Lease may not be modified or amended, except by
an instrtunent in writing and signed by all parties hereto.
43. Binding Effect. This Lease shall be binding upon and inure to the benefit of Lessor, its
successors and assigns, and Tenant, its successors and , to the extent an assignment is permitted under the terms of
this Lease, Tenant's assigns.
45. Entire Agreement. This Lease and t_he Exlibits hereto constitute the entire agreement between
the parties hereto pertaining to the subject matter contained herein and supersedes all prior and contemporaneous
agreements, representations, and understanding of the parties. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by all parties.. No waiver of any of the provisions of this
Agreement shall be deemed, or shall constitute,a waiver of any other provision, whether or not similaz, nor shall any
waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the pazty making the
waiver.
46. PconOU71S. Pronouns used herein shall be deemed to refer to whatever gender and number the
identity of the person or persons involved may require, and words in the singular shall be construed as though in the
plural, or in the plural as though in the singular, wherever the context so admits.
• 13
47. Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in
a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of
Radon that exceeds federal and state guidelines have been found in buildings in Florida. Additional information
regarding Radon and Radon testing may be obtained from your county public health unit.
•
48. Americans With Disabilities Act of 1990. Lessor and Tenant intend to allocate their
compliance responsibilities under the Americans with Disabilities Act of 1990 (ADA) as provided herein. Provided
any changes are required, the Lessor shall be responsible for making readily achievable changes and providing
auxiliary aid and services in common areas and for modifying policies, practices or procedures applicable to all
tenants. The Tenant shall be responsible for readily achievable changes, provision of auxiliary aids, and modifications
of policies within the Premises and in the operation of its business.
49. Option to Renew. The Option Addendum attached hereto as Exhibit "C" is incorporated
herein and made a part hereof.
50. Memorandum to Enter Into Lease and Receipt for Deposit. The parties hereto agree that
the covenants set forth in paragraph F., items 1 through 4, and 5. a. through f. of the Memorandum to Enter Into
Lease and Receipt for Deposit executed by the parties shall survive the execution of this Lease provided, however,
that Lessor will not be obligated to make these improvements at the beginning of any option period if tenant shall
exercise its option to renew.
IN WITNESS WHEREOF, Lessor and Tenant have executed this Lease in multiple original
counterparts as of the day and year first above written.
Executed in the Presence of:
P ''
As to L r ~ ~"
! ~_
As to LessorxJ`~, ~~
~~ /L.-.
As to Tenant
-~
As t
TEQUESTA BUSINESS ASSOCIATES
~ ~_ ~ ~~
~ ~ ~;
Louis Feibel,
THE VILLAGE OF TEQUESTA
BY• ~
Michael uzzo, V la a Manager
14
• Lessor agrees to pay a commission to H. Smith Realty in accordance with a separate listing agreement
between Lessor and H. Smith Realty.
•
•
Executed in the Presence of:
r
~. ~
,~
___
a
~~ .® ~;°
~'
Lessore
TEQUESTA BUSINESS ASSOCIATES
-~ Louis Feibel,
15
• Exhibit "A"
A Parcel of Land in Section 30, Township 40 South, Rage 43 East Palm Beach County, Florida, being more
particularly described as follows:
From the point of intersection of the center line of State Road No. 5 (U.S. Highway No. 1), with the South
line of said Section 30, bear N 03 deg 54" 55" E, along said center line, a distance of 695.55 feet; thence bear S 89
deg 46' S5: W, along the north right-of-way line of Bridge Road and its easterly extension, a distance of 876.58 feet
to the POINT OF BEGINNING; thence continue S 89 deg 46' S5", W along said north right-of way line, a distance
of 94.23 feet, to the intersection with the easterly right-of--way line of Old Dixie Highway, as recorded in Road Plat
Book 5, Page 146, Palm Beach County Public Records; thence bear N 56 deg 13' 43" W, along said easterly right-of-
way line, being the chord of a curve having a radius of 25.0 feet, a distance of 27.95 feet; thence beaz N 22 deg 14'
20" W, along said easterly right-of-way line, a distance of 219,87 feet; thence continue along said easterly right-of-
way line, on a bearing of N 22 deg 52' 40" E, being the chord of a curve having a radius of 25.0 feet, a distance of
35.43 feet to the intersection with the southerly right-of--way line of Tequesta Drive thence bear N 67 deg 59' 40" E,
along said southerly right-of--way line, a distance of 200.25 feet; thence bear S 00 deg 13' OS" E, a distance of 326.37
feet to the POINT OF BEGINNING.
Except for the following parcel:
Being a portion of land for additional right-of--way purposes for Tequesta Drive, Village of Tequesta in
Section 30, Township 40 South, Range 43 East, Palm Beach County, Florida and being more particularly described
as follows:
Commencing at a point on the South line of said Section 30: State Route 5 (US 1) with the said South line
• of Section 30; thence North 03 deg 23' S8" East along said centerline of right-of--way, a distance of 1,169.71 feet
to the point of intersection with the centerline of right-of--way for Tequesta Drive; thence South 89 deg 20' 09" west
along said centerline of Tequesta Drive, a distance of 582.91 feet to a Point of Curve concave to the southeast having
a radius of 350.00 feet and central angle of 21 deg 48' 00"; thence along the azc of said curve and the said centerline
of Tequesta Drive, a distance of 133.17 feet; thence South 67 deg 32' 09" West, along said centerline of Tequesta
Drive, a distance of 229.54 feet; thence South 22 deg 27' S 1 " East, a distance of 40.00 feet to a point on the Southerly
line of Tequesta Drive as recorded in O.R.B. 872, Page 257 of the Public Records of Palm Beach County, Florida
and the Point of Beginning: thence South 00 deg 40' 36" East along the Easterly line of said Pazcel 12, a distance
of 5.38 feet; thence South 67 deg 32' 09" West, a distance of 198.23 feet; thence South 22 deg 25' 09" West along
the long chord of a 25 foot radius, a distance of 35.43 feet to a point of the Easterly line of Old Dixie Highway as
recorded in O.R.B. 2568, page 13Z of the said Public Records; thence North 22 deg 41' S1 "West along said Easterly
line of Old Dixie Highway, a distance of 5.00 feet; thence North 22 deg 25' 09" East, a distance 35.43 feet to a point
on said Southerly line of Tequesta Drive;
thence North 67 deg 32' 09" East along said Southerly line of Tequesta Drive, a distance of 200.25 feet to the Point
of Beginning.
Containing in azea 1,122 squaze feet more or less.
Subject to existing easements, Rights-of--Way, Restrictions and Reservations of Record.
•
16
TEQUESTA CORPORATE CENTER
•
~~
•
S~vite 304
2.400 sq. ft.
.+ua~a w~
250 Tequesta Drive Tequesta, Florida 33469 561-747-4177 Fax 561-747-4189
EXI~BIT "C"
OPTION ADDENDUM
Provided Tenant shall not be in default under any of the terms, covenants, or conditions of the attached Lease
on Tenant's part to be performed, and provided that no event shall have occurred which, with the running of time or
the giving of notice, or both, would result in an event of default, and further provided that there shall not have
occurred, damage or destruction to or a condemnation of the Demised Premises which would entitle Lessor to
terminate the said Lease pursuant to the terms thereof, Tenant shall have the Option to renew the Lease for ONE (1)
additional ONE (1) year terms, upon the following terms and conditions:
1. The One Year option term timely exercised in accordance with this Exhibit "C" shall commence
at the time of the expiration of the initial one year term of the Lease, and shall continue for a term of one year
thereafter.
2. In order to exercise the option herein granted, Tenant shall be required to deliver, either by hand
delivery or by certified mail with return receipt requested, to Lessor a written notice of the exercise of the option,
which said notice shall be in a form legally sufficient to bind Tenant, not later than sixty (60) days prior to the
expiration of the initial one year or any one year terms if option is exercised of the Lease.
3. In the event Tenant fails to timely exercise the option herein granted, then the option shall become
automatically null and void.
4. All of the terms, conditions, obligations and duties set forth in the Lease shall continue and prevail
during the Option term(s), except for the waiver of any rental payments and as modified hereby.
tenancy.
•
After the initial one year lease and the one year option, Lessee shall be on a month-to-month
17
ADDENDUM TO LEASE AGREEMENT
_~ ~~
Thi s addendum made thi s v~' ~s~y~ day of ~, 2 0 01 by and between
TEQUESTA BUSINESS ASSOCIATES, a Florida General Partnership, as Lessor, and The
Village of Tequesta, a Florida Municipal Corporation , a s Lessee
1. This addendum shall be incorporated into and supersede
the terms and conditions set forth in that certain Lease
Agreement by and between the above referenced parties
dated December 1996.
2. The parties hereby agree that Lessee will be released
from the lease for Suite 303 as agreed to in that certain
Release dated _~, ~, 2001.
~, ~,f~
3. The parties hereby agree that the rental amount will be
reduced to $2,304.08 per month and will strictly pertain
to Suite #300.
4. All of the remaining terms and conditions as
• set forth in the Lease Agreement are hereby
deemed of continuing force and effect.
IN WITNESS whereof the parties hereto have hereunto set
their hands and seals this "§ ~ day of 2001.
..~-~~~~
LESSOR: LESSEE:
TE~~STA BUSINE ~SSOCTATES VILLAGE OF TEQUESTA
~. ~~ .~
OUIS FEIBEL Michael Co o, 1 age anager
•
• RELEASE
The parties hereby agree to terminate and release from obligation Suite #303 from that
certain lease agreement dated the ~,' day of December, 1996. Lessee will be
responsible for leaving unit in a clean condition and in good repair. Lessee shall be
responsible for repairing all holes, dents, scratches, etc. in the walls. Lessee shall also be
responsible for leaving the rest room in a clean condition.
VILLAGE OF TEQUESTA
MICHAEL CO ZO, a Manager
TEQUESTA BUSINESS ASSOCIATES
~~~ r ~ °`
~'.
LUIS FEIBEL
•
-~-=- ~