HomeMy WebLinkAboutDocumentation_Regular_Tab 12O_4/10/1997 Memorandum
To: Village Council
From: Joann Manganiello, Assistant Village Manager/Village Clerk9A
Date: April 4, 1997 7/`
Subject: Village of Tequesta/Tequesta Financial Centre Lease Agreement: Assignment
of Lease;Agenda Item
On May 20, 1986, the Village of Tequesta (Lessor) entered into a Lease Agreement with the
Tequesta Financial Centre (Lessee), 218 U.S. Highway One, Tequesta, Florida, and agreed to
lease a parcel of land (Tequesta Water Department's) to the Tequesta Financial Centre for
additional parking in the rear of the building (adjacent to the new Garage facility property on
Bridge Road). The term of the Lease is one (1) year, commencing on the 1st day of June 1986,
and ending the 31st day of May, 1987. The rental for said parcel is $175.0,0 for the term of the
Lease. This Lease Agreement has been renewed each year thereafter.
Presently, the Village is reviewing the Lease Agreement and considering the following: (1)
termination of the Lease with the intent to sell the parcel, (2) entering into a new Lease
Agreement with rent at fair market value and modified terms. The current Lease expires on May
31, 1997.
Mr. Ernest Hamilton, General Partner, Tequesta Financial Centre, has advised that the Tequesta
Financial Centre is interested in purchasing said parcel. Mr. Hamilton has also indicated,that the
the Tequesta Financial Centre property may be sold. Consequently, Mr. Hamilton is requesting
that the Village of Tequesta Village Council consider authorizing the Village Manager or his
representative to sign an "Assignment of Lease by Lessor" in the event the Tequesta Financial
Centre property is sold. The new owner would then be assigned the Lease Agreement, subject to
its terms and conditions, upon the sale of the Tequesta Financial Centre property.
I have discussed this situation with the Village Attorney, and he has advised me that the Village
Manager does not have the authority to assign the Lease without the Village Council's approval
and authorization of the same.
Attachments - 2
TEQUESTA FINANCIAL CENTRE
325 RIVERSIDE DRIVE
JUPITER, FLORIDA 33469
(561) 746-4511
April 4, 1997
Ms.Joann Manganlello,Assistant Manager
Village of Tequesta
Tequesta, Florida 33469
if
VIA FAX ONLY
Ms. Manganiello:
Pursuant tO our telephone conversation of recent date, please arrange to have my
request regarding the Land Lease between the village of Tequesta and Tequesta
Financial centre, Ltd, added to the Agenda for the meeting on or about April 10,
1997.
You will recall that I originally wanted the Village to accept my assignment of the
lease, with all rights tnereto appertaining, to a purchaser of the building. You
requested advice from the Village Attorney who ruled that you did not have the
authority to sign the assignment and only the Village had such authority.
I later told you that the sale closing had been postponed. I then requested that
you place the Item on the Agenda to have the Council authorize the Village
Manager or his representative to sign an assignment of the lease if and when it
was requested again.
Thank you for your cooperation in this matter. Should you require additional
Information from me, please advise.
Respectfully,
Ernest E. Hamilton
General Partner
7
LEASE
This Lease Agreement entered into this 2' day of
/J94 1986, by and between the Village of
Tequesb , whose mailing address is P. 0. Box 3273, Tequesta,
Florida 33458, herein referred to as the "Lessor' any. Tequesta
Financial Centre, LTD. , a Florida Limited Partnership, 1001 U.S.
Highway One, Suite 301, Jupiter, Florida 33477, hereinafter
referred to as "Lessee".
WITNESSETH that in consideration of the rental below
specified and of the covenants hereinafter stipulated, the Lessor
agrees to - lease the following described premises located in
Tequesta, Palm Beach County, State of Florida, legally described
as:
A parcel of land lying in Section 30, Township 40
South, Range 43 East, Palm Beach County, Florida.
Said parcel being more particularly described as
follows:
From the south one-quarter corner of said Section 30;
thence S 89 25' 42" W, along the south line
of Section 30, a distance of 250.00 feet to the POINT
OF BEGINNING of the herein described parcel of land;
thence N 00 40'37" W, a distance of 144.68 feet;
thence S 89 25'42" W, a distance of 25.24 feet;
thence S 02 03'32" E, a distance of 144.73 feet
to a point on the south line of said Section 30; thence
N 89 25'42" E, along said south line a distance
of 21.75 feet to the POINT OF BEGINNING of the herein
described parcel of land.
Said parcel containing 0.078 acres.
To have and to hold the demised premises unto the Lessee,
his successors and assigns for the term of One (1) year,
commencing the let day of _ c.�� , 1986, and ending
the 31st day of `j,2t ,_ 1987. The rent for the
term of this Lease is On Hundred Seventy-five Dollars ($175.00) ,
payable ' in advance. %I thin 60 days prior to the expiration of
this lease, Lessee shall notify Lessor in writing of its intent
to renew this lease upon the same terms and conditions. If no
action is taken by the Village Council within said period of
time, the lease shall be automatically renewed upon the same
terms and conditions.
The use of the premises shall be for additional parking for
the Lessee's commercial office building which is located at 2 2'130
U. S. Highway One, Tequesta, Florida, and for no other purpose
except with the written consent of the Lessor. All additional
parking acquired pursuant to the terms of this lease shall not be
counted as required parking for the purpose of expansion of the
above-referenced commercial office building.
The Lessee may not assign this Lease or sublet any part of
said premises without the written consent of the Lessor and said
consent shall not be unreasonably withheld.
The Lessee agrees to maintain the premises in good repair
and maintenance. Lessor shall have open and free access to the
property at all times for whatever purpose deemed necessary by
Lessor, and the Lessor shall not be required to replace any
portion of the premises that was altered or damages by any
activity deemed necessary by the Lessor
T}fin r.ncnee nn. f1 ' . ?nFn.,A
h'1rnles3 from any and all, claims, damage suits or liability in
connection with the property.
The Lessee agrees to quit and deliver up said premises at
the end of said term in good condition as they are now, ordinary
wear and tear accepted, however, Lessor' may unilaterally
terminate this Lease with regard to all of any portion of the
premises upon .Sixty days (60) written notice to the Lessee.
As long as the Lessee performs all of the covenants and
conditions of this Lease, it shall have peaceful and quiet enjoy-
ment of the demised premised for the term o.f this Lease subject
to the Lessor's aforementioned right to open and free access to
the premises at all times for any necessary purpose, and subject
to Lessor' unilateral. right of cancellation referenced- above.
Any notice provided for herein shall be deemed complete if
and• when deposited in the United States Mails, postage prepaid
and addressed to the parties at the above mentioned addresses.
IN WITNESS WHEREOF the Lessor and Lessee have executed this
Lease the day and year first above written.
WITNESSES: VILLAGE OF TEQUESTA •
?4 BY: yam` �iJi
LESSOR Village Manager
1
TEQUESTA FINANCIAL CENTRE, LTD.
•
9::"41"fruj (l"rtikj
RNEST E. HAMILTON
GENERAL PARTNER, LESSEE