HomeMy WebLinkAboutExhibit 2EXTENSION OF TERM AND AMENDMENT OF VALET PARKING
CONCESSION AGREEMENT
This instrument, is entered into this , , 2007, among the CITY OF
MIAMI (the "City"), a municipal corporation of the State of Florida, BAYFRONT
PARK MANAGEMENT TRUST (TRUST), a limited agency and instrumentality of the
City of Miami (the "Trust") and MIAMI STAR CASINO, LLC, a Florida limited liability
company, d/b/s Horizon's Edge Casino Cruises ("Horizon") to extend the term of, and
amend that certain Valet Parking Concession Agreement dated December 8, 1998, as
amended by the First Amendment to Valet Parking Concession Agreement dated dune 27,
2002 and by Amendment, Assignment and Assumption of Valet Parking concession
Agreement dated December 16, 2005, executed by the parties hereto (the "Valet
Agreement",) as follows:
1. Term: The Term of the :Valet Agreement is hereby extended through
September 30, 2012, to continue to run commensurate with the term of the
Use Agreement dated September 26, 1997, between the parties hereto, under
the same terms and conditions'set forth in the Valet Agreement.
2. Arnendments• The Valet Agreement is amended as follows:
A. Horizon hereby relinquishes all rights it may have under the Valet
Agreement to Parcel "A", which is legally described in Exhibit
"A" attached hereto. Accordingly, effective on the date hereof, the
definition of the "Parking Facility" under the Valet Agreement
shall -exclude the area described as Area "A". Notwithstanding the
foregoing, the Trust shall allow Horizon to use Parcel "A" for its
parking needs when Parcel "A" is not being used by the City or the
Trust. and Horizon shall have the right to continue to maintain
and access its dumpster there.
B. In consideration for the return to the TRUST of Parcel "A", the •
amount of the .Annual License Fee is reduced by $30,000.
Commencing on the effective date hereof, the Annual License Fee
shall be $60,000 and shall be payable in equal monthly payments
of $5,000, commencing on the 8 day of , 2007 and
thereafter on the 8th day of every month during each year of the
term.
C. In the event either party exercises the right to terminate the Use
Agreement pursuant to Section 4 of the Extension of Terns and
Amendment of Use Agreement (the "Use Agreement"), dated of
even date herewith, and attached to this instrument as Exhibit "B',
then this Valet Agreement shall be deemed to terminate on the
ors:Document FTLDOCS_5245739_ t .DOC
TLDOCS 5245642 3 r _
FTLDOCS 5245739 t f = 7--(G' 03
1
7" . r
f A.r' T rnn7 77. rrn e•
effective date of termination of the Use Agreement. In such case,
if Horizon is the temiinating party, it shall continue to pay to the
Trust all amounts due under this Valet Agreement up to the
effective date of termination,
D. The Security Deposit described in, and securing Horizon's
performance under, the Use Agreement shall also secure Horizon's
performance under this Valet Agreement. Accordingly, the
TRUST shall have the right to apply the Security Deposit to cure
any monetary or non -monetary defaults under the Use Agreement,
including specifically, but without limitation, the costa of repairing
any damage to the Parking Facility over and above normal wear
and tear.
3. No Implied Modifications: Except as specifically provided herein, all of
the terms and conditions of the Valet Agreement, as amended, shall remain in
full force and effect and are hereby ratified and confirmed.
4. Counterparts: This instrument may be executed in any number of
Counterparts, each of which shall be deemed an original, but all of which
together shall constitute but one instrument.
[SIGNATUR.E PAGES FOLLOW]
ors:Dooument FTLDOCS_5245739 1.DOC 2
FTLDQC5 3245642 $
FTLD005 52457391
AA. r, I,,/17 -71- , In" 1 nr ."."" .T.-. i ..r1,1 r ...4 ..... . ..-..-.....
06/i2/20e7 11:43 m15149a
GROOM CONSTRUCTION PAGE 04/09
WnWESS WHEREOF, the parties hereto have executed this instrument this
'of2007.
orn;Tkaustunt r'Ti.1XVS.,3a aaeo,1J
3
TRUST
Seyfhbitt Paris Management Trust, a united
agency and InStIUMentaliti of tha City of
Miami
ay:
Timothy P. Schm
mod, E xeautive Aireaor
HORrZCN:
Miami Star Casino, LLC d/b/a Horizon's
Edge Ceeitu Cruises
By Horizon's Edge Casino Chiba.
LLC,
Its 4 aneging Member
Approved by the City of Miami pursuant to Resolution No. 07-
City of Miami, a municipal corporation
Attest: 13y:
Priscilla A. Thompson, City Clerk Pedro G. Hernandez, city Manager
Approved As To Form and Correctness
Requirements
Approved As To • Insurance
Jorge L. Fernandez LeeAnn Brehm, Administrator
City Attorney Risk Management,
or;:Document FTi.DQCS_5245739..,1.1]0C 4
FTLDOCS 5245642 3
FTLDQCS 5245739 I
.. _ ,.. ." T I lrn
Innr nnn Tn .. yy1 1 0^.4 IT re-171..rl rn\I 1 rn7\1111 r