HomeMy WebLinkAboutexhibit1AMENDMENT NO. 5 TO LEASE AND DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF MIAMI
AND
GROVE HARBOUR MARINA AND CARIBBEAN MARKETPLACE, LLC.
This Amendment is entered into this day of , 2005
(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, as amended, Lessee is required
to complete the construction of the leasehold improvements no later than April 30, 2005; and
WHEREAS, Lessee has experienced delays, beyond its reasonable control, with Florida
Power and Light for the relocation of the new electrical facilities preventing the completion of
drainage system and the boatyard facility; and
WHEREAS, for the aforesaid reasons, Lessee has requested an additional extension of
the time for completion of construction of the leasehold improvements until September 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:
1. 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
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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 September 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. 5 to the
Lease on the day and year first above written.
LESSEE:
Grove Harbour Marina and Caribbean
Marketplace, LLC, a Florida Limited
Liability Company
ATTEST: By: Harbour Management Group, Corp.
By: By:
Corporate Secretary Alan Lima, President
ATTEST:
Priscilla A. Thompson
City Clerk
APPROVED AS TO FORM AND
CORRECTNESS:
Jorge L. Fernandez
City Attorney
LESSOR:
City of Miami, a municipal corporation
of the State of Florida
By:
Joe Arriola
City Manager
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