HomeMy WebLinkAboutR-92-0307J-92-356
5/6/92
RESOLUTION NO. 92-- 307
A RESOLUTION, WITH ATTACHMENT, AUTHORIZING
THE CITY MANAGER TO EXECUTE AN AMENDMENT TO
THE LEASE AGREEMENT, IN SUBSTANTIALLY THE
FORM ATTACHED, ("LEASE") BETWEEN THE CITY OF
MIAMI ("CITY") AND BAYVIEW ASSOCIATES INC.
("LANDLORD"), DATED JUNE 27, 1991, THEREBY
MODIFYING SECTION VI OF SAID LEASE TO
ACCOMMODATE A REQUEST MADE BY LANDLORD IN
CONNECTION WITH THE REPAYMENT OF A DEPOSIT
MADE BY THE CITY TO LANDLORD UPON THE
EXECUTION OF SAID LEASE.
WHEREAS, by Resolution No. 91-436, adopted June 20,
1991, the City Commission authorized the City Manager to execute
a Lease Agreement with the Bayview Associates Inc. for office
space at the Dupont Plaza Center; and
WHEREAS, as stipulated in Section VI of said Lease, the
City made a deposit ("Deposit") equal to three months rent, which
was to be credited as the first three months rent payments after
the Commencement Date (as set terms defined in said Lease); and
WHEREAS, due to excessive overruns in the cost of
renovations of the office space leased by the City, the Landlord
requests the repayment of the Deposit in twelve installments,
with six percent simple interest payable on beginning the
Commencement Date and every month after until fully paid:
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
ATTACHMENT (5)
CONTAINED
CITY COMMISSION
MEETING OF
MAY 1 � 1592
Resolution No. 92- 307
SECTION 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
SECTION 2. The City Manager is hereby is authorized to
execute an amendment to the Lease Agreement, in substantially the
form attached, between the City of Miami and Bayview Associates
Inc. dated June 27, 1991, thereby modifying Section VI of said
Lease to accommodate a request made by Landlord in connection
with the repayment of a deposit made by the City to Landlord upon
the execution of said Lease.
SECTION 3. This Resolution shall become effective
immediately upon its adoption.
ATTEST
PASSED AND ADOPTED this 14th day of
HIRAI, City Cler
PREPARED AND APPROVED BY:
RATAEL 0. DIAZ
Deputy City Attor
May , 1992.
APPROVED AS TO FORM AND
.CORRECTNESS:
All Q NN -S, III
City Att V
ey
-2- 92-- 307
FIRSTTLIENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT dated this day of ,
1992, to the Lease Agreement- ("Lease"), dated ,tune 27, 1991, by
and among the City of Miami, a municipal corporation of the State
of Florida ("CITY") and the Bayview Associates Inc., a Florida
corporation ("LANDLORD").
RECITALS
WHEREAS, LANDLORD and CITY entered into the Lease; and
WHEREAS, the City and the Landlord wish to amend the
Section VI of the Lease in order to modify the method of
repayment of Two Hundred Fifty -Seven Thousand Six Hundred Three
Dollars and 50/100 ($257,603.50) paid by the City to the Landlord
as a Deposit (as defined in the Lease) upon the execution of said
Lease; and
WHEREAS; the City Commission by Resolution No. 92- ,
has authorized the City Manager to execute this First Amendment
to the Lease on the date set first set forth above ("First
Amendment");
NOW, THEREFORE, for Ten Dollars ($10.00) and other good
and valuable consideration, receipt and adequacy of which is
hereby acknowledged, the parties hereto agree as follows:
1. The foregoing recitals are true and correct and are
made a part of this First Amendment.
2. LANDLORD and CITY hereby to amend and modify Section
VI of the Lease to read as follows:
-1-
92- 307
VI.
:W-1
Tenant concurrently with the execution of this
Lease has deposited with the Landlord the sum of Two
Hundred fifty -Seven Thousand Six Hundred Three Dollars
and 50/100 ($257,603.50) ("Deposit"). The Landlord
shall return the Deposit to the City by the payment of
twelve (12) monthly installments of an amount equal to
orie-twelfth (1/12) of the Deposit plus six percent
(6.0%) simple interest, such payments to commence on
the Commencement Date of the Lease.
-2-
92- 307
11
IN WITNESS WHEREOF, the parties hereto have caused this
First Amendment to be duly executed and delivered by their
respective officers as duly authorized on the date first above
written.
ATTEST:
MATTY HIRAI
City Clerk
APPROVED AS TO INSURANCE
REQUIREMENTS:
SEGUNDO PEREZ
Insurance Coordinator
WITNESSES:
-3-
CITY OF MIAMI, a municipal
corporation of the State of
Florida
CESAR H. ODIO
City Manager
APPROVED AS TO FORM AND
CORRECTNESS:
A. QUINN JONES, III
City Attorney
BAYVIEW ASSOCIATES INC.
By•
J. J. Shepard
General Manager and
Vice President
92- 307
P
CITY OF MIAMI, FLORIDA
INTEROFFICE MEMORANDUM
s T a : Honorable Mayor and Members DATE ,� FILE .
of the City Commission APR 2 �� I992
SUBJECT : Amendment 1, Bayview
Associates Inc. Lease
=- Agreement
*"ROM : Cesar H. Odio REFERENCES For City Commission
City Manager Meeting of 5/14/92
ENCLOSURES:
440WONYI V \ 1 R : • 1
It is respectfully recommended that the City Commission adopt the
attached Resolution, authorizing the City Manager to execute an
amendment to the Lease Agreement between the City of Miami and
Bayview Associates Inc., for certain office space at the Dupont
Plaza Center.
The Department of Development & Housing Conservation recommends
the approval of attached Resolution to amend the subject Lease
Agreement ("Lease") with the Bayview Associates Inc.
("Landlord"). Pursuant to Resolution No. 91-436, the City
Commission authorized the City Manager to execute the Lease for
office space at the Dupont Plaza.
The Lease stipulated, upon the execution of the Lease, City
advance Landlord a deposit equal to three months rent, which
would be credited as the first three months rent payment after
the commencement of the lease.
Due to excessive overrun in the cost of renovation of the office
space leased by the City, Landlord is requesting that the City
consider the repayment of such deposit in twelve monthly
installments, with six percent interest payable after the
Commencement Date of the Lease.
Attachments: Proposed Resolution
Proposed Lease Amendment
92- 30'7
0