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Home My WebLink AboutR-93-024053c>/ 0 a-as-ido 4/ld/A3 USCLVTION NO. 9 3- 240 A RESOLUTION, WITS ATTACMMTB. AMORIZIMG TEE CITY WJAGZR TO MMOUTB TIM TEIRD AiiE1=23"i TO TSE AMENDED AND RESTATED LEASE AGREBYENT, IN OWSTANTIALLY TEE ATTACEED FORK. BETMEEN TEB CITY OF YIAYI AND BAYSIDE CWA-TEA LIMITED PART7IER83IP FOR TRZ BAYBIDE SPECIALTY CENTER RETAIL PARCEL TO PORMALIZE C3ASGE8 TO CERTAIN V IRSUMSTSEELRSIN RATING TO OYNEESEIP OF WE PARTNIMANIP INTERESTS IN DAYBIDE CENTER LIMITED PARTSERBEIP. BUBJECT TO TIN RECEIPT BY TSE CITY OT As INDElisIPICATION AGREEMENT IN A POAY ACCEPTABLE TO TEE CITY ATTORNEY. NBEREAB, on J&auary 14, 1988, 34ysids Center Limited- Partnership (hereinafter "BCLP") and the City of Miami (herein&=ter the "City`). acting by and through the City Manager antered into that certain Lease Agreement with respeot to the 8ayside Speoialty Center, Retail Paroel, which the parties thereto amended and restated is its entirety by ezeoution of an Amended &add Restated Lease Agreement dated Ootober 15, 1085, as amended by a Pirst Amendment dated August 10. 1888 and as amended by a 8eoond Amendment dated November 24, l9a7 (hereinafter 0011*0tively referred to as "the Retail Lease'); and MSERSAB. 3CLP. the General Partner, and Armando Coding, Ronald B. Frasier, Natan Soh. Garth PAMwea. Ignacio Garcia Du - ATTACHMENT (S)� CONTAINED cm lRrXa or APR 15 M3 Bomb. pa 93- 240 Quesae. and Eoward Retail Investment Corporation (each individually referred to as a 'Limited Partner*) have requested the City enter into certain amendments to the Retail Lease which ohmage certain requirements therein contained relating to the ownership of the partnership interests in SCLP; NOW, 1 01"BFOSS, 32 IT USMVRD BY TEE CO M2BSiON 07 Tn CITY OF MIAMI, FWRIDA: Section 1. The recitals and find! a contained in the Preamble to this Resolution are hereby adopted by reference thereto and Incorporated herein as if MIT, Not torth LA this Section. section a. The City Manager is hereby authorised to execute, in substantially the attached fora the ?hird Amendment to the Amended and Restated Lease Agreement between the City of Miami and Bayside Center Limited Partnership for the Dayside Retail Parcel to change certain requirements therein contained relating to the ownership of the partnership interests in Sayside Center Liait*4 Partnership, subject to tho receipt by the City of an Indemnifioation Agreement in a fors acceptable to the City Attorney. Section a. ?bin Resolution mull become effective immediately Upon its adoption. PASBID AXV ADOPT31D this loth day of ZAVISR L. , MAYOR ATTEBT: RATTY EIRAI. CITY CLER! -2- 93- 240 9 PROARSD AND APPROVED BY: G . MIRIAM YAU CRISP ASSISTANT CITY ATTOBEBY APPROVED AS TO POKY AND Be.,CORRECTN3 -�' 93- 240 THIS THIRD ANENDNENT TO AMENDED AND RXSTATED LEASE AGREEMENT (this "Aseidmant") made as of this ,_„_. day of , 1992, by and batwaaa BAYSiDE CENTER LnaM PARTNERSHIP, a lea IwA limited partnership (hereinafter referred to as "Developer"), and the CITY of UUM, a municipal corporation of the State of Florida (hereinafter referred to as the "City"), acting by and through the CITY WLWAGEA (haralmattor referred to as the "City manager'), and with the prior approval of the City Ctmur1661on of Miami. NITNZAAZ25: on January 14, 1985 the parties hereto sntestid into that certain I"" Agreanont with respect to the Bay,sside specialty Center Retail Parcel, Which the Parities ba w%0 arrendwd and restated in Its entirety by execution of axe amended and Restated 1"" Agreement dated October Is, lolls, as amended by a First Amendment dated August 19, It$* and as amended by the Second Aaandmiantt dated November fe, 1947 (bar0UWft4sr collectively referred to as "the lastated Laass`). The parties now desire to modify aaartain does of the **stated Lease related to transfer of partnership isrterests In Developer. to consideration of t4ft dollars ($0.001 IaiA by Developer to City and for other +load and Val"ble 0on9144iw&t10n, . the receipt acid ade�try of which Is hereby at ledpad, the parties ogres ar to lofts 1. t1ii... .__ a Section S.• is bereby smasded by deleting the last sentence its its entirety and inserting the tolloritg in list thereof: •Notwithstanding the forega ing, in the ease of a permitted Transfer of a limited partnW11G 1nter0st rtnQ�ez subparagraph (j) of Section S.3. and a subsequent transfer back to a partner of Develonsp either as a result of a default by the trasisfarrBaited partner or the exercise of an option by the transferring limited 93- 240 KAR 16 193 17;17 FROM BAYSIDE i .n, Edo Am PAGE.002 partner requiring another partner of developer to purchase its interest, then neither the Developer nor the purchasing partner shall be obligated to resell the limited partner's interest to another Black American or Hispanic American or entity owned or controlled by a Black American or Hispania American and the pezventogo set forth in the first sentence of this section shall be automatically reduced by the percentage interest of the minority, limited partner so traneterred.• 2. EfJact,at th s Amandsaet. lxCspt as is heareinabore sat forth, the provisions of the Restated Lease shall hereafter remain in full torts and effect, as it this Assndsent bed not been entered into. im Ni'TMY.ss uxi wr, ROtIlft-Knits, tiff., the eels general partner of BAYSZDE Ci:NTi:'!t LZ ITFD PAR'TM ZRMP, has Caused this Third Amendment to Amended and Aestated Lsass Agreament to be signed in its name by its vice Prssidant and its corporate seal to be hereunto affixed and duly attested by its Assistant Secretary, and the CITY COMUSUCY Or KUM has caused this IMLrd AmerAmeont to Amended and Restated Lease Agreement to be signed in its name by Cesar U. odic, the CITY 1W WZR, and duly attested to by Natty Hirai, the CITY CUM, an the day and year first hereinabova vritten. AT"T>ts'1's H COMRA-J12 qZAL D11YSYDA C"'11`sJt LMTSD Pam, A Maryland Limited Peztnerablp sy s -lama, =C. , A GCeleral plandad ration, syl to -2- ident 93- 240 .4 w 16 '93 17217 FROM BAYSIDE .rw C Y •r APPROVED AS TO PORK AND COAPJWMSBI City Attornsy r —3— i PAGE. Beg f'Y Tu CI'lyf OF x1m, R mmioipa2 MCorp rraation of the state of - W * waraw, Wsty wisigsic STATE OF }ss. COUNTY OF ) 1, an officer authorised to take cknavledgments, M MMV CERTIFY that on this da of , 1993, pet all be ore as Alf.* and knowO s ice President a tt stan't secretary, respectively, of AOGSE-MZi1 f IMC., a Karyland corporation, known to as to be the general partner of 8ayside Center Limited Partnership, a Maryland limited partnership, and known to as to be the parsons who executed the foregoing instrument, and they severally acknowledged the execution thereof as the free and format act of the said corporations as the sole general partner of such Partnership. WITNtss my hand and official seal in said County and state the day and year last aforesaid. notaff c, State of lfaryland NY Commission Expires:. 9? STATE OF � ts. COUNTY of } I, an officer authorised to talcs acknowledgments, MUMV C93t'ITXTY that or this day of personally aplraared b-*Toro as and as re rM a y • vely, of 2W 4MM or 1 J=# a municipal corporation in and under the laws of the State of Florida, and bwvn to me to be the persons Vbe execated the foregoing instrumant, and they severally ackw wledged the execution thereat as the free and formal, aft of the said municipal corporation. WITNESS my band and official seal in said County and state the day and year aforesaid. My Commission Expired: -i- 1 'Y c, State of Florida 93- 240 k M M� � CONSE 1- CONN=ICOT GENERAL LIFE =Nsmucs COMPANY, Mortgagse under that cortain Mortgage, Consolidation, Modification and Extension Agreement dated December 4, 1987 and recorded in the official Record book 13498 at Vage 670 in the Land Records of Dade County, Florida, doss hereby consent to the foregoing Tbird Amendment to the Amended and Restated Lease Agreement and agrees to be bound thereby. COMM ECTICUT 4ZKZRAL LIFE INSURANCE COMPANY sy % clam I111i3L' 5 1, INC. riy3 I, an officer authorised to take accnowleftsents, HEREBY CERTIFY that on this day of , 1992, personally appeared before as , X mo to as to be the o Inc., an authorized ag-*-nf for =XRhL LIT! USM MCi COMPANT and known to as to be the person who executed the above aoewerYt to the foregoing instruiont, and he/she acknowledged the execution thereof as the free and tarsal act of the said corporation. WITS ss my hard and official seal in said County mA State the day and year last aforesaid. My cosmission Expires: state of r�r 93- 240 13 AIR,16 193 17s17 Xalvh ii. 1992 FROM HAYSIDE BMIDE 0. VTA ru ", SAGE . i0Z Mr. Cesar odic Mr 35O6 sru oaa osy Mimi, ni 32133 us UAW 9 moviution (J-92-131) aad ttes to mosolutioaa-92 -ills) AUWWSUIMW aerwtion cc an Assaftont to sm Alrewmat Dear Mr. odtot lisase ndnot ots for the Ayp u is, 3ss3, uty of xio d dim ays&Aa the *be" rrtgswx" Itatsa, tdtidt aM i7gartad be tabled R M the Dac111bet 19, t#d9, Ca■aiesiAft asstbq. 'm & M 1rw C?1W*n to th". Tbw* Im !or Y+war coopasstim in thft latter. *m, altrsys. �1Ma feel tree to aontsat es fhQIdd you hM M' gwrt oW D. favoLue, Vim pswidaft • comet i ldmsysr 1M?T/tU �rr+nr0.r 03- 240 Pon MINK kamimmewaftmommo 4m VA .. �w�w. Nw/!! fM�► fir CITY OF MIAMI, FIOAIOA INTER -OFFICE MEMORANDUM .to The monorable Mayor and M"bee of the City Cou nission Rem: Cesar H. Odic City Manager Wn : MAR - 4 im "" : ResolUtion AUtborisia axecution of ird Am=t to Amend*d and Restated L ease Agreamsat It has been requested by Saysid* Center L1VAt0d Partnership, the general partner, and Armando Qodins, Ronald E. lrasi*r, ratan Rok, Garth Reeves, Ignacio Garcia DuQuesne and Sward kotail Investment Corporation, each seferrod to sR a IIXited psrtass, that the City enter into a third aIV*AdWWt to 00 Arad sad Restated Leas* xgr*alnent betweaen the City of !tined =4 Bayslds Center Limited Partnership fear the eaysid* specialty Canter Retail Parcel to formalize ahsages to wrtaia r*quiraaients contained therein relating to the o+raenSbipp of the partnership l aterests in Sayside Cantor Waited Psrtnereehap. BACiCGltM? on January 14. 1985. saysids Contest Waited Partnership and the City entered into a lease afire- -, rt with teepee t to the sayside specialty Center, Retail Parcel, which was a oneed in Its entirety by execution of an AXmaded and Restated Leese A99* 010t dated October 15, 1925, as sma"*d. The City has beta requested to enter into a third aumdaeent to the Amended and Restated Lease Apreeement baftin a the City of Miami and saypride Cantos Lindtad tartnavx1i�yp for Us soyside specialty Cantor Retail Parcel, which Mould 61100. fa th* CUa Of a pormitted transfer of a limted parwWr'er L4to nest and a subsequent transfer back to a partner of Rayside Center, LIALted ance Partnership. that neither sayside Canter W"ted Partrhip nor the purchasing partner shall be obligated to resell the limited partneer's interest to another Black American, or Rispanie: American or entity owned or controlled by a Sleck AseeenrieaL os 'aispania American. 93` 240 J