HomeMy WebLinkAboutAMENDMENT NO.1 TO LEASE AGREEMENT1
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AMENDMENT NO. 1 TO THE LEASE AGREEMENT BETWEEN THE CITY OF
. MIAMI AND CENTENNIAL EXPRESS 1NC.
This Amendment is entered '+iuo .'as of 0&�zbV Z , 2006, [but effective as of
August 31, 2006] by and .Vetween- gentennial Express, Inc,, a Florida corporation (the
"Lessor') and the City of,Miami," a' municipal corporation of the State of Florida (the
"Lessee"), for the purpose of extending and amending that certain Lease Agreement
between the Lessor and Lessee, dated August 30, 2005 (the "Lease') as set forth herein,
RECITALS:
Whereas, the Lessee entered into a Lease with Lessor for the provision of
approximately 1,326 square.%et of warehouse space on the ground floor in the rear portion
of the building located at 125,1 NW::36`h Street, Miami, Florida (the "Premises') for the
Internal Affairs Division of the Miami Police Department; and
Whereas, the term of .the Lease was for one (1) year, terminating on August 30,
2006; and
Whereas, Lessee has two. options to extend the terra of the Lease for periods of two
(2) years each, under the same :terms and conditions of the Lease, with the exception that
the rental amount which was to be negotiated; and
Whereas, Lessee currei tt 'occi.*s 'th'e=Premises and pays a rental rate of $10 per
square foot ("Rental Rate''), ie of $1;105.00 per month; and
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Whereas, Lessor and Lessee wishes to enter into this Amendment to extend the
term of the Lease for an additional two year term (the "Extended Term") and to amend the
Lease to establish the rental rates for the Extended Tenn(s);
NOW, THEREFORE, in consideration of the foregoing and of the mutual
agreements and covenants of•:the parties 6s' -'get forth in the Lease, Lessor and Lessee agree
.as follows:..
1.Option to Extend: See�ioiii r*' of the Lease entitled "Option to Extend" is
amended as follows:
"Provided no default then exists, or if a default does exist, Lessee has
received Notice of such default as provided herein, has commenced the
curing of said default and. thereafter is diligently prosecuting such cure to
completion, Lessee is hereby granted options -to renew this Lease for two (2)
successive terms of two (2) years: Said options to be exercised by Lessee
giving Lessor notice of its election to extend the term of this Lease no later
than four (4) months pn'b' lb'"_,exOation of the then current term. Lessor
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term. Lessor shall respond of its acceptagce to extend the term within thirty
(30) days from the 'date ;of; receipt of .Lessee's notice,
The parties agree to ,extend the Lease for two (2) years commencing on
August 31, 2006 and terminating on August 30, 2008 ("First Extended
Term'). For this first Extended Term, the parties hereby waive the above
provision of this Lease which required the Lessee to give notice to the
Lessor of its election 'to extend the term of the Lease no later than four (4)
months prior to the expiration of the current term. "
2. Amqunt of Rent and'Manrter of Rent `Pam: Section 3 of the Lease entitled
"Amount of Rent and Manner of Rent Payment" is amended by adding a second clause to
Subsection A:
"The Rental Rate for the first Extended Term shall be $13.79
per square foot. Currently, Lessee occupies 1, 326 square feet
of the Premises �.therefor„e, the:, total monthly rental is in the
amount of $18,285.54. Sgid,Rental Rate shall be adjusted bi-
annually {once ;3y ti%o`;years)''so as to coincide with the
subsequent Exterftetl. Terlrt{s);. Lessee agrees to pay Lessor an
increase in 4 i kg.. kplR'ci1'e which shall be calculated as the
lesser of 1) -six percent (6%) of the previous Extended T'erm's
rental rate or 2) the increase in the Consumer Price Index as
published by the United States Department of Labor, Bureau of
Labor Statistics, Consumer Price Index, US City Average for
All Urban Consumers, ' Seasonally Adjusted, Miami -Ft.
Lauderdale, All Items (1982-84=100) (hereinafter the "CPI').
The CPI increase shall be ;calculated by multiplying the Rental
Rate at the end ofuir;pre'ceding ledge year by a fraction, which
numerator shall bet1te dffi int (a) the CPI two (2) months
prior to the begihFiing'of'lhe ".FZtended Term for which the
adjustment is to be made, minus (b) the CPI published two (2)
months immediately prior to the preceding lease year (the
"Comparison Year'), and the denominator is the same as (b)
above.
3. Governing Condition's! 1{xcepf'as specifically provided herein, all of the terms and
provisions of the Lease shall rer afar in effect.
In Witness Whereof; Oiftidlereto have executed this Amendment No. 1 to the
Lease as of the day and yearlfii's itaWave'written'.
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Print Name
LESSOR:
Centennial Express, a Florida corporation.
By: �.�.---
t, President
PETER FCS
.,.J Print Name
.LESSEE:
.0
Attest: City of Miami a municipal corporation
of the SZtateda
Y:
j o-/.2-tye By:
scilla A. Th mpson. City Clerk Ped, City Manager
APPROVED AS TO FORM ;{ Fr !' APPROVED AS TO INSURANCE
AND CORRECTNESS: ; ; r, ;.. REQUIREMENTS:
B BB
! g ernandez, City Attorney LeeAnnt Brehm
Administrator, Risk Management
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