HomeMy WebLinkAboutConsent to AssignmentCONSENT TO ASSIGNMENT AND ASSUMPTION
The CITY OF MIAMI, FLORIDA (the "City") hereby consents to the assignment by
HOWARD BROADCASTING CORPORATION, a Florida Corporation ("HBC") to
BEASLEY-REED ACQUISITION PARTNERSHIP, a Delaware general partnership
("BRAP"), all of its interests in that certain Lease Agreement dated September 3, 1982 by and
between The City of Miami and Hernstadt Broadcasting Corp. (the "Lease") with BRAD being
responsible for the performance of all of the terms, conditions, covenants, agreements and
obligations to be performed thereunder as they relate to the period from and after the effective
date of such assignment. The City acknowledges that (i) the Lease is in full force and effect, (ii)
neither the City, nor to the best of the City's knowledge, HBC or BRAP is currently in default
thereunder, (iii) the Lease will expire on September 2, 2007 and is valid and binding up to such
date, (iv) all 'rent, charges or other payments due to the City from the lessee under the Lease have
been paid through August 31, 2000.
The City agrees that the assignment of the interest in the Lease to BRAD and BRAP's
assumption of all of the terms, conditions, covenants, agreements and obligations thereunder
shall release and discharge HBC, its officers, directors, stockholders and its successors and
affiliates from any of the terms, conditions, covenants, agreements and obligations under the
Lease arising from and after the effective date of such assignment.
AT S .
Walter Foeman
City Clerk
M003-CONSCNSPORN
Date: August Il , 2000
Approved as to al
By: t�