HomeMy WebLinkAboutExhibitTHIRD AMENDMENT TO LEASE AGREEMENT
THIS THIRD AMENDMENT TO LEASE AGREEMENT ("Third
Amendment") is made as of the day of 2009, between THE CITY OF
MIAMI, a Municipal corporation of the State of Florida (hereinafter referred to as the
"City"), as Lessor, and BEASLEY-REED ACQUISITION PARTNERSHIP, a
Delaware general partnership (hereinafter referred to as "BRAP" or "Tenant"), as
Lessee.
RECITALS
A. The City and Hernstadt Broadcasting Corp. ("Original Tenant") entered
into that Lease Agreement dated September 3, 1982 (the "Lease"), pursuant to which
Original Tenant leased certain premises consisting of approximately two and two-tenths
(2 2/10ths) acres, located on Virginia Key, City of Miami, Dade County, Florida (the
"Property");
B. Original Tenant assigned the Lease to Howard Broadcasting Corporation
("Successor Tenant"), pursuant to an Assignment of Lease dated October 17, 1986,
which assignment was approved by the City by letter dated November 24, 1986;
C. Successor Tenant assigned an undivided one-half (1/2) interest in the
Lease to Sunshine Wireless Company, Inc. pursuant to an Assignment of Lease dated
August 31, 1987, which assignment was approved by the City on August 10, 1987;
D. Sunshine Wireless Company assigned its undivided one-half interest in the
Lease to BRAP which assignment was approved by the City by Consent to Assignment
and Assumption dated August 14, 1996.
E. With the City's consent, Successor Tenant assigned all of its remaining
right, title and interest in and to the Lease to BRAP pursuant to a Consent to Assignment
and Assumption dated August 11, 2000; and
F. Section 29-B of the City's Charter, authorizes the city conu-nission to grant
a lessee of city -owned property a one-time extension during the last five years of its
lease, without the necessity for a referendum, for the purposes of funding additional
capital improvements, for an extended term not to exceed 25% of the original term or 10
years, whichever is less, and provided the lessee is not in default of its lease nor in
arrearage of any monies due the City.
G. Pursuant to Resolution No. 06-0332, adopted May 25, 2006, the city
commission, by 4/5 votes, authorized the extension of the term of this lease for an
additional term of 6 years under the teens and conditions set forth hereinafter.
H. Lessor and Tenant have negotiated to extend the commencement of the
parties' mutual right to terminate the Lease prior to the lease's termination date of
September 2, 2013 from June 3, 2009 to June 3, 2010.
I. This present Third Amendment extends to June 3, 2010 the
commencement of the parties' mutual right to terminate the Lease prior to the lease's
termination date of September 2, 2013 and in no way extends said term and therefore
complies with the requirements of 29B of the City Charter.
TERMS
NOW THEREFORE, for Ten Dollars ($10.00) and for the covenants and
conditions of this Third Amendment, the receipt and sufficiency of which are
acknowledged, Lessor and Tenant agree as follows:
1. Recitals. The foregoing recitals are correct and are incorporated herein by
this reference.
2. Terms. All undefined capitalized terms used herein shall have the same
meanings as defined in the Lease, as amended.
3. Section 36: ("Termination") Section 36 is hereby amended as follows:
(a) Termination by the City. In addition to the termination provisions
provided in Section 17 of the Lease, the City shall have the following
termination right: from and after June 3, 2010, the City may terminate the
Lease, upon not less than ninety (90) days prior written notice to BRAP,
which notice may not be provided sooner than June 3, 2010.
(b) Termination by BRAP. From and after June 3, 2010, BRAP may
terminate this Lease upon not less than ninety (90) days written notice to
the City, which notice may not be provided sooner than June 3, 2010.
4. Entire Agreement. The Lease, as amended by the First, Second and Third
Amendment, constitutes the entire agreement and understanding among the parties with
respect to the subject matter hereof.
5. Miscellaneous.
a. In the event any term or provision of this Third Amendment be
determined by appropriate judicial authority to be illegal or otherwise invalid, such
provision shall be given its nearest legal meaning or be construed as deleted as such
authority determines, and the remainder of this Third Amendment shall be construed to
be in full force and effect.
b. In construing this Third Amendment, the singular shall be held to
include the plural, the plural shall include the singular, and the use of any gender shall
include every other and all genders.
C. Descriptive headings contained herein are for convenience only
and shall not control or affect the meaning or construction of any provision of this Third
Amendment.
d. This Third Amendment may be executed in any number of
counterparts and by the separate parties hereto in separate counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument.
e. This Third Amendment shall be deemed a part of the Lease, but
shall take precedence over and supersede any provisions to the contrary contained in the
Lease.
Intentionally Left Blank
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IN WITNESS WHEREOF, the parties have executed this Third Amendment as of
the day and year first written above.
BRAP:
Witness:
Print Name:
Print Name:
ATTEST:
By:
Priscilla A. Thompson, City Clerk
Approved As To Form And Correctness:
Julie 0. Bru, City Attorney
Approved As To Insurance Requirements:
LeeAnn R. Brehm, Director
Risk Management Department
iPa�P1 i_i i_nu
BEASLEY-REED ACQUISITION
PARTNERSHIP, a Delaware limited
partnership
By,
Print Name:
Title:
THE CITY:
CITY OF MIAMI, a municipal
corporation of the State of Florida
By:
Pedro G. Hernandez, City Manager