HomeMy WebLinkAboutAgreement_General_09/08/2016 (2) FIRST AMENDMENT TO
LEASE AGREEMENT
Between
MAW STREET VILLAGE, INC.,
a Florida Corporation and
JMZ TEQUESTA PROPERTIES, INC.,
a Florida Corporation
(LESSORS)
and
THE VILLAGE OF TEQUESTA,
a municipal corporation of the State offlorida
(VIUAGE)
FIRST AMENDMENT TO AGREEM , T OF_LE
FHIS FIRST AME` DMENT TO THE LEASE: made, entered into and eft��ti+e
da• o f . _, 2016, by and between !MAIN S FREET VILLAGF. INC- a Florida p rofit
corporation. .IM7. TEQUESTA PROPERTIES. INC'.. a Florida profit corfx)ration, hereinafter
reterre:d to together as LESSORS, anti THE VILLAGE OF TFQUESTA, a municipal corporation of
the State of Florida, organized and existing under the Laws of the State of Florida. hereinafter
rcfe;red to as the VILLAGE. amends the Agreement of Lease originally entered into lvivveen the
a[brenamed parties on May 14.2009 as specifically set forth below.
VIf ITN ESSETH:
WHEREAS. LESSORS collectively own three (3) parcels of real property located in the
VILLAGE= at or near the street address of 1 Main Street, which parcels Are currently vacant, and
which parcels are more particularly described on Exhibit "A" attached hereto. hereinafter referred to
as the `PROPERTY " and
WHEREAS. AS. the VILLAGE., desires to tease and use the PROPERTY for a municipal park.
and I- SSORS desire to make the PROPERTY available to the VILLAGE fear such a ti-.A- attd
'W`I i1 R1:.AS. 1-1 7 SSORS and the VILLAGE previously entered into an Agreement of Ivc'a in
order to accomplish this: and
WHEREAS. said Agreement of Lease has expired under its awn terms and the LFSSORS
and VILLAGE have been continuing; their relationship and the use of the PR.OPFRTY on a month -
to -month basis. but now desire to renew and extend said Agreement of Lease under the terms attd
conditions contained in this First Amendment to Agreement of Lease.
NOW' THEREFORE. in consideration of the rents, mutual covenanti and agreements
hereinafter contained and other good and valuable consideration. the receipt and sufficiency of NOlich
is hereby acknowledged. the LESSORS and the VILLAGE hereby agree as follows:
Section 1: New Provisions for Pavmeat of Rent.
Pursuant to Section 13.16 of the Agreement of Lease, the parties desire to amend the
Agreement of Lease to provide for the payment of rent, and amend Section 3.01 as fo lOws:
Sectio .l_ Annual Rent
The VILLAGE shall pay LESSORS a irw�l_ c�Ilectir�e � n ,nt ly& f�'L: nt_c�.l'. =T� �
�� i�t;xt I`icthtiollar ; b grog saltcalt n
payab le without notice on the C'ommencetnent Tate and
i
i
qtka- Qf - e Oze and ea"
AomW Reritshall be made payable to Main Street Village Inc., or JMZ'requesta
PTopertic.s. Tnc., and shall be delivmd to 104 Lighthouse Drive, Jupiter. Florida 3 3469.
M —SqLavr- 1 Qa
N_tctjon 2: New-DamagelftL ugion of PEemises use. C
gr 14
Pursuant to Section 13.16 of the Agreement of Lease, the parties desire, to amend the
Agreement of Lease to provide for revised Damage or Destruction by Fire, War or Act of G od
Clause, and antend Section 6.01 as faDws:
In the event the PROPERTY shall be des troyed or damaged or injured by r1rC OT
other casualty during the term of this Lease 4ireenwnt or any renewal thereof the
VILLAGE shall restore the PROPERTY to the sarac condition as thal which e prior to
such casualty. The NrILLAGE -shall cominenve such restoration Aithin a reasonable time
after Stich casualty but in no event later than, one himdred and eighty (l 84) days of Stich
casualty, The VILLAGE shall thereafter diligently pursue such restoratilon to Completion.
Ail Vl"A, as a Fe—wh, 0 oswe"'w'stef- 1
-1 be
+U-'XTTT-1
ift aeeeWeae- - M-
Section 3: -New IM.
Pursuant to Seefion 8.02 and Section 13 of the Agreement of Lea-se, the parties desire to
renew the Agreement of Lease for a new term and, amend Seefiolls 8.01, 8.02 and 13.15 as foltWs:
-Sec
This &AsAff&R ef & -6-M= shall be effe ee upon the Effective T ate
Q,W Lease Ag
set forth in SC-CLiOn- 13.15 below. The term of this fjp1 Lease shall
commence upon the Effective Date (the "Commencement Date"),, zutd shall extend for a
period of ve �5) years, therealler, - unless sooner teminated pursuant to the provisions of this
Lease Agreement.
&-c—tion 8.02 ReneWal of Least Agreement.
This Eirs-ftmeitment Lease Agreernenttnay be renewed for aMitiona-1 periods of
time upon muhm) agreement of the parties.
Section 13.15 EX_fecrive Date of Agreement.
up t
This .F e U. ment is express ly co ntin gent otl hc appr oval
tAMOftj
_W Lease Agrft
of the Village Council of the Village of Tequesta, and shall become effective on the date
when signed by all parties and approved by the Village Council of the Village of Tequesta.
Such approval by the VILLAGE shall be evidenced by execution and delivery of the, FjaA
g j _Ldfl a g
-Ll,ease AP eenient to LESSORS within thirty (30) days of the approval by the
,r -
Village Council of the Village of Tequesta.
Section 4: New Teri in&tton Clause,
Pursuant to Section 1.3.16 of the Agreement of Lease the parties desire to wnend the
Agreement of Lease to provide for revised Termination Clatise,. and amend Section 8.04 as follcovs:
Section 8.04 jermiggi_on of Lease AP-Teement,
This LUOrMst AMMdnew Lease Agmement may be terminated as follows
(a) by LESSOR'S sale of the entire PROPERTY as set forth in Section 8.03; or
60 days' notice from either party following LESS WS sale of only a portion of the
PRO.PER:I'Y as set forth in Section 8.03 or
(C) bY default of either party as set forth it) Article XI herein; or
(d) kvwitlen notice of termination served upon the other party With a n of six (6)
moilths notic e
A-g
Section 5: Deleted PLovisions Regarding ExymMt for Park IgMrowments.
The VILLAGE incurred expenses in the making of inunicip'al park 4nprovements on the
Icased property during tlu- original five (5) year term of the Agreement of Lease. The ori
Agreement of Lease contemplated that LESSORS, would reimburse the VILLAGE for certain such
expenses in the event that LESSORS sold the leased propeMy or othenvise terminated the ariginal
Agreement of Lease during its original five (5) year to Since these, reimbursement obligations
expired in conjunction with the end of the original fhre (5) year term of the original Agreernmt of
1_, se, the parties, desire to strike these provisions from this First Amendment to Lease Agreement as
obsolete. As such. pursuant to Section 13.16 of the Agreement of Lease. Section 8.03 is hereby
amended, and Serdans 8.45 and 11.03 are deleted in their entirety as fbuows:
Section 9,03 Sale .cif the Pronertv. Right_ of First.&Wy L
After the conclusion of the initial five (5) year term of this Lease Agreement.
LESSORS are lice to sell the entire PROPERTY or any portion thereof, %%,,ith no money
being due to the VILLAGE for park improvements 10 -- else,SeWen 441. nth miffb ,
The VILLAGE shall have the rip-ht of first refusal to purchase the PROPERTY or the portion
thereof that is offered for sate :under terms and conditions wifich are no less favorable to any
third party purchaser. In order to exercise said right of first refusal, the Village mu,-;t notify
USSORS in writing, of its intent to purchase the PROPERTY or the portion thereof that is
offered for sale under terms and conditions which are no less favorable to anv third party
purchaser within thirty, (30) days from the date that LESSORS, notify the W-1-ALCIF in
writin of its intent to sell.
kgFeeffWfA -By renewl-4 the PROPER;�)r
4
• - t. 4 • - . 4Y V s tom. � . . . w .
+ s
w
♦ �: a-
1
► 6
FIN
BMW
me ML A
c e . ' a r. ♦. ... ....... c $:a.
.� is �.. .. A. '.. .. < .. .. `....�
r r _
W4 4n
a rrr rt _P tM T then
1 0/
.. oad b oy 754 1 � 6 - ST-0dil.
:>
iaifia, Pm of thAs I -
a
Sectl+n.n is Deleted l'rov6irtns R and Lessor's Event of jLefau1L
The original Agreement of Lease restricted LESSOWS ability to sell the cased pry pert�r until
the end of the original five 5) year term of the original Agreernent of Lease. Doing so would have
been considered an event of default.. Since the original five (5) year term of the oric in. Agmernent
ofl.case has trmv expired, the parties desire to strike this provision from this first Amendment to
Lease Agmement as obsolete. As such, pursuant to Section 13.16 of the. Agreement of Lease,
Section 1 1.02 6 amended as Mows:
Section 1 1, 02 Events of Default_ Lessors.
The occurrence of any one or more of the following shad constitute: an Event of
Default 1�y LESSORS under - this base:
(a) LESSORS' failure to pay any sure due hereunder within thiTty ('30) days after the same
shall become dues, or
(b) LESSOR'S failure to perform or obsen a any of the agreements, covenants or conditions
cantained its the Lease on LESSORS S part to be performed or observed if such failure
continues for more than ninety (90) days after notice from the VILLk E- unless the sainet
is of such a nature that it cannot reasombly be cured within such a th e p4;x iod., in which
h
event LESSORS shall be entitled to a reasonable period under the circumstances-. or
_ 11�e
W
If any Event of Default occurs, theft at any time and thereafter whsle the EvetU of Default
continues. the VTI LADE shall have the right to o;ive LESSO S notice that the IUA(tF:
inrends to terminate this Lease Agreement upon a specified date; not less than sixty �6q) days
after the date .notice is received by the LESSORS, and dais Lease Agreement shall then
terminate €eta the date specified. If, however, the default is cured. %Mthin the sixes (60) dad=
purled and the VILLAGE. is so notified, this 14av Agreement will continue.
Section 7 Deleted P L�Isj , a R e ardin lDl ismissal
The original Agreement of Lease contemplated the disc ssal of certain litigation and code
6
i -
a
i
1
conipliar matters associated with the leased property. In as much as these matters have all been
disinlss€d ,, the parties desire to strike these provision from this First Amendrnentto Lease Agreement
as obsolete. As such. pursuant to Section 13.16 of the Agreement of Leasc. Seetlons 13.01 and
13.02 are deleted in their cadre0y as follows:
see 44 V T yw i l�'�' f • f an i -
y • � 6
Lbfr - ak 9T.^s
GouA e- 4 •• j1 Jr y Jr
ndiog litigation in Beaeb 4 i
si
Effid
ctia & New Notice Address.
pursuant to Section. 13.16 of the Agreement of Lease, the ,parties desire to arnend the
Agreement of Lease to pTovide for a revised notice address, and amend Section 1.3.03 as follows:
Section 13-03 Notices.
Any consents, approvals and permissions by LESSORS shatl be et`l+ective and valid
only if in writing, and any n otice by either to .y to the other shall be and sh all be
deemed to be club given only if hand delivered, or mailed prepaid by cett.ilied mail return
receipt requested. addressed:
(a) If'to LESSORS at:
'fain Street Village, Inc., c/o John Zuecarelli
1 04 lighthouse Drive
Jupiter. FL. 3
acrd;
JMZ `fequesta. properties, Inc., c/o John Zuccarelli
104 Lighthouse Drive
Jupiter, F 33469
(b) If'to the VILLAGE at,
Michael hael Cou o, Village Manager
Villa of equestaa
345 `requesta Drive
Tequesta, F1M 33469
Will) a copy to:
i
Keith W. Da-vis. Esquire
Corbett. �t ead-White, I'.. - -� d
Lkg% �P
_��4�O bwwma Fi 33462
t Eithef party hereto may change the address for service of notices required or permitted
hereunder upon ten (10) days prior written notice. All notices given hereunder shall be
effective and deeined to have been duly given only upon receipt by the party to which notioc'-
is being given, said receipt being deemed to have occurred upon such date as actual hand
dcliNery occurs. or such date ass the postal authorities ;hall show the notice to have been
delivered, refused, or undeliverable, as evidenced by the return receipt.
Section 9: AH Other-Pr2yijiLaM, Remain.
Except as specified in Sections One (1) through Eight (8) of t1i's first Amendment to Lease
Agreement, each and enen� other section and subsection ofthe origiiW Agreement of Lease shat(
reniain in full fore-e and effect and shall be binding can the paAies hereto pursuant to the terms and
conditions of this First A-mendment to Lease Agreement.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANKI
IN WITNESS WHEREOF, the parties hereto have JUIN 0,xecuttd this FirtAomidmeill (k
Lease Agreement as of the day and year first a- Bove Nkrittell,
A MAI\ S'FRFL,T\'ljAAGl -arid
Amz - 1 - 1 , :Qu f-S A PROPE fl S INC.
John M. 4Auccare-F. resident
, ,Y I S.1
J.,()ri McW11lianis. NINIC W hig Bret an
Villaue Clerk wit"I"IN -.",
F flip
. AND
.51
LFGAL SU I
INCORPORATED
'path W t lag4 AttomeN .... 1 ���ra
