HomeMy WebLinkAboutR-04-0753City of Miami
Legislation
Resolution: R-04-0753
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 04-01226 Final Action Date: 11/18/2004
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE A THIRD AMENDMENT, IN
SUBSTANTIALLY THE ATTACHED FORM, TO THE LEASE AGREEMENT
BETWEEN THE CITY OF MIAMI AND NEW ASSIGNEE BAYSHORE LANDING, LLC
("COMPANY"), DATED SEPTEMBER 20, 1985 AS AMENDED ("LEASE
AGREEMENT"), TO ADD A NEW SECTION 30.3 TO THE LEASE AGREEMENT TO
PROVIDE THAT IN THE EVENT THE LEASE AGREEMENT IS TERMINATED IN
ANY PROCEEDING IN BANKRUPTCY INVOLVING THE COMPANY, AT THE
REQUEST OF THE LEASEHOLD MORTGAGEE THE CITY WILL ENTER INTO A
NEW LEASE WITH THE LEASEHOLD MORTGAGEE, UPON THE SAME TERMS
AS THE EXISTING LEASE AND SUBJECT TO THE PROVISIONS SET FORTH IN
THE THIRD AMENDMENT; PROVIDED: (1) THE LEASEHOLD MORTGAGEE PAYS
ALL PAST DUE RENTS AND OTHER CHARGES DUE TO THE CITY, AND
(2) THE ACTIONS OF THE LEASEHOLD MORTGAGEE HAVE NOT ADVERSELY
AFFECTED THE INTERESTS OF THE CITY UNDER THE LEASE OR OTHERWISE
RESULTED IN THE TERMINATION OF THE LEASE.
WHEREAS, pursuant to the Lease Agreement, the City of Miami ("City") leased to Bayshore
Properties, Inc. certain property located at approximately 2550 South Bayshore Drive, Miami, Florida
("Property" ), commencing September 30, 1985 and expiring on May 31, 2035; and
WHEREAS, pursuant to an Assignment of Lease dated March 16, 1986, Bayshore Properties,
Inc. assigned its rights under the Lease Agreement to Grove Marina Market, Ltd., which, on August
20, 2004, assigned its rights under the Lease Agreement to Bayshore Landing, LLC ("Company");
and
WHEREAS, the aforesaid assignments were consented to by the City by virtue of certain
Consents to Assignment dated March 13, 1986 and August 20, 2004; and
WHEREAS, the City and the Company have agreed to amend the Lease Agreement to add
certain provisions to protect the Leasehold Mortgagee in the event the Lease Agreement is
terminated in a bankruptcy proceeding involving the Company, provided: (1) the Leasehold
Mortgagee pays all past due rents and other charges due to the City, and (2) the actions of the
Leasehold Mortgagee have not adversely affected the interests of the City under the Lease
Agreement or otherwise resulted in the termination of the Lease Agreement, and, also subject to the
terms and conditions set forth in the Third Amendment.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
City of Miami
Page 1 of 2 File Id: 04-01226 (Version: 2) Printed On: 10/14/2016
File Number: 04-01226 Enactment Number: R-04-0753
Section 2. The City Manager is authorized{1} to execute a Third Amendment, in substantially the
attached form, to the Lease Agreement between the City of Miami and new assignee Bayshore
Landing, LLC , dated September 20, 1985 as amended, to include a new Section 30.3 to the Lease
Agreement to provide that in the event the Lease Agreement is terminated in a bankruptcy
proceeding involving the Company, at the request of the Leasehold Mortgagee the City will enter into
a new lease with the Leasehold Mortgagee, upon the same terms as the existing Lease and subject
to the provisions set forth in the Third Amendment, provided (1) the Leasehold Mortgagee pays all
past due rents and other charges due to the City, and (2) the actions of the Leasehold Mortgagee
have not adversely affected the interests of the City under the Lease Agreement or otherwise resulted
in the termination of the Lease Agreement.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.{2}
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter
and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 04-01226 (Version: 2) Printed On: 10/14/2016