HomeMy WebLinkAboutExhibit 1-28-10AMENDMENT NO.2 TO MANAGEMENT AGREEMENT
BETWEEN THE CITY OF MIAMI AND GLOBAL SPECTRUM LIMITED
PARTNERSHIP
This Amendment No. 2 to the Management Agreement is entered into this day of
, 2010 (the "Amendment") by and between the City of Miami, a municipal
corporation of the State of Florida (the "City"), and Global Spectrum Limited Partnership, a
Pennsylvania Limited Partnership (the "Firm"), for the purpose of amending the Management
Agreement dated October 1, 1997, as amended and heretofore assigned (the "Agreement").
RECITALS:
WHEREAS, on September 23, 1997, the City Commission by Resolution #97-662,
authorized the City Manager to enter into a management agreement with Global Spectrum
Limited Partnership ("Global") for the management and operation of the Miami Convention
Center, which agreement expires September 30, 2007; and
WHEREAS, the City is currently exploring its options related to the long term use and
ownership of the Miami Convention Center; and
WHEREAS, the City Commission has determined it to be in the best interest of the City
to expand the existing agreement with Global to include approximately 35,000 additional square
feet of meeting and conference space at the Miami Convention Center, an area formerly leased by
the University of Miami; and
NOW, THEREFORE, in consideration of mutual covenants hereinafter set forth and in
consideration of other valuable consideration the parties covenant and agree as follows:
1. Incorporation of Recitals; Definitions: The recitals and findings set forth above are
hereby adopted by reference thereto and incorporated herein as if fully set forth in this
Amendment. All of the initial capitalized terms used in this Amendment shall, unless otherwise
provided herein, have the same definitions and meanings as given to them in the Agreement.
2. Amendment Effective Date: The effective date of this Amendment shall be the date
upon which it is executed by the City Manager and the Firm, with the later of such execution
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dates being the controlling effective date (the "Amendment Effective Date"). The Firm shall
execute this Amendment no later than ten (10) days following City Commission approval of this
Amendment.
3. Amendment to Section 10.1: A new paragraph is hereby added to Section 10.1 to
read as follows:
MANAGEMENT FEE FOR FORMER UNIVERSITY OF MIAMI AREA. The CITY shall pay
the Firm for the term of this Agreement, effective in accordance with Section 2, an additional
management fee of $40,000 per year to manage and operate approximately 35,000 additional
square feet of meeting and conference space at the Miami Convention Center/James L. Knight
Center, an area formerly leased by the University of Miami; this net management fee shall be in
addition to the $97,200 annual payment for the existing area, payable in twelve (12) equal
monthly payments of $3,333 each, on the first business day of each month of the term.
4. Amendment to Section 10.2: Revenues derived from the former University of
Miami leased area shall not be considered for the purposes of determining additional
compensation.
5. General Provisions: This Amendment shall be construed and governed in accordance
with the laws of the State of Florida. This 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. To the extent
that any terms or provisions of this Amendment are inconsistent or conflict with the terms and
conditions of the Agreement, the terms and conditions of this Amendment shall control. Except
as specifically provided herein, all of the terms and provisions of the Agreement shall remain in
effect.
Attest:
Signature
Print Name:
Corporate Secretary
Global Spectrum Limited Partnership, LP
2
Signature
John Page
Chief Operating Officer, Global Spectrum
Attest
:
Priscilla A. Thompson
City Clerk
Approved As To Form And
Correctness
Julie O. Bru
City Attorney
City of Miami, a municipal corporation
of the State of Florida
am
am
3
Pedro G. Hernandez
City Manager
Approved as to Insurance
Requirements:
LeeAnn Brehm
Director of Risk Management