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HomeMy WebLinkAboutexhibit-Amendment 4AMENDMENT NO. 4 TO LEASE AND DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MIA.MI AND GROVE HARBOUR MARINA AND CARIBBEAN MARKETPLACE, LLC. This Amendment is entered into this day of , 2004 (the "Amendment") by and between the City of Miami, a municipal corporation of the State of Florida (the "City" or "Lessor") and Grove Harbour Marina and Caribbean Marketplace, LLC, a Florida limited liability company, having its offices at 9758 S.W. 24 Street, Miami, Florida 33165 ("Lessee"), for the purpose of modifying that certain Lease and Development Agreement between the City and Lessee dated March 12, 1999, as amended (the "Lease"). WHEREAS, pursuant to the Lease, Lessor leased to Lessee certain property located at approximately 2640 South Bayshore Drive, Miami, Florida; and WHEREAS, in accordance with Section 4.5 of the Lease, Lessee is required to complete the construction of the leasehold improvements no later than eighteen (18) months from the date of issuance of the building pei alit (which occurred on June 5, 2003); and WHEREAS, Lessee has experienced delays, beyond its reasonable control, in finding the material for the exterior hangar panels that meets the approvals of the City's Historic Preservation division and Building and Zoning Department, and in securing approvals from the Miami -Dade Water and Sewer Department, Miami -Dade County Department of Environmental Resource Management and State of Florida Department of Environmental Protection; and WHEREAS, construction of the leasehold improvements was further interrupted by the numerous hurricane threats this year; and WHEREAS, for the aforesaid reasons, Lessee has requested an extension of the time for completion of construction of the leasehold improvements until April 30, 2005; WHEREAS, the City and Lessee desire and agree to amend the Lease as hereinafter provided; NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and in consideration of other valuable consideration, the parties hereto agree as follows: l . Section 4.5 of the Lease is hereinafter amended to read as follows: Lessee agrees for itself, its permitted successors and assigns, and every permitted successor in interest that, subject to Unavoidable Delay and/or Permitted Delay, within Thirty (30) days from the date of issuance of a building permit to Lessee, Lessee shall promptly commence the construction of the Leasehold Improvements. Subject to Unavoidable Delay and/or Permitted Delay, construction of the Leasehold Improvements shall be completed no later than April 30, 2005. In the event of Unavoidable Delay and/or Permitted Delay, the date for commencement of construction and/or the scheduled construction completion date shall be correspondingly extended by the same number of days involved in the period of Unavoidable Delay and/or Permitted Delay. IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 4 to the Lease on the day and year first above written. ATTEST: LESSEE: Grove Harbour Marina and Caribbean Marketplace, LLC., a Florida Limited Liability Company By: By: Corporate Secretary Alan Lima, President Harbour Management Group, Inc. LESSOR: ATTEST: City of Miami, a municipal corporation of the State of Florida 2 Priscilla A. Thompson City Clerk APPROVED AS TO FORM AND CORRECTNESS: Jorge L. Fernandez City Attorney By: Joe Arriola City Manager