HomeMy WebLinkAboutExhibitFIRST AMENDMENT TO LEASE AGREEMENT
This FIRST AMENDMENT dated as of , 2007 (this "Amendment") to
that certain original Lease Agreement (the "Lease Agreement") dated March 4, 2003, by
and between COLUMBUS PROPERTIES, INC. A/K/A COLUMBUS PROPERTIES OF
ALASKA, Inc., an Alaska corporation, successor in assigns to JUSTICE INVESTMENT
ASSOCIATES LTD, (hereinafter referred to as "Landlord") and THE CITY OF MIAMI,
a Florida Municipal Corporation for the use and benefit of the CIVILIAN
INVESTIGATION PANEL, (hereinafter referred to as "Tenant").
LANDLORD AND TENANT entered into that the Lease Agreement for approximately
2,585 rentable square feet of office space in that certain premises located in PH-1B of the
building, known as 155 South Miami Avenue Building (the "Building:"), 155 South
Miami Avenue, Miami, FL 33130 (the "Original Lease Premises").
WHEREAS, Tenant now desires to modify the Lease Agreement for the purposes of
expanding the definition and area of the Original Lease Premises to add an additional
approximately 1,485 rentable square feet in PH-1C (the "Expansion Premises") and to
extend the Lease term for the Original Lease Premises and the Expansion Premises
(collectively, the "Total Premises") until May 31, 2013 under certain terms and
conditions as set forth below, and
WHEREAS, the Miami City Commission on , 2007 has authorized the
City Manager to execute this Amendment upon the terms and conditions as set forth in
Resolution No. (a copy of which is attached hereto as Exhibit B and
made a part hereof) and as set forth below; and
WHEREAS, Landlord consents to extend the original Lease Term until May 31, 2013,
subject to the following terms and conditions hereafter set forth and a Landlord's
corporate authorization to enter into this Amendment is attached hereto as Exhibit C and
made a part hereof;
THEREFORE, Landlord and Tenant do hereby agree to and do so incorporate into the
Lease attached hereto as Exhibit _ and by reference hereto, the following changes to the
original Lease Agreement:
1. Article XVII is hereby modified to reflect that the written notice address for the
Landlord is as follows:
Columbus Properties, Inc.
a/k/a Columbus Properties of Alaska, Inc.
The Astor Building
217 Broadway, Suite 700
New York, NY 10007
2. Effective upon substantial completion of improvements, anticipated to occur on
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or about February 1, 2008, the definition of the Original Lease Premises shall be
expanded to include PH-1C, consisting of a 1,485 rentable square feet (the "Expansion
Premises"). Upon Tenant's occupancy of PH-1C, the revised definition of the Original
Lease Premises shall consist of PH-1B and PH-1C for a total of 4,070 rentable square feet
(the Original Lease Premises and the Expansion Premises being collectively the "Total
Premises").
3. The original Term of the Lease Agreement is hereby modified to reflect that Tenant is
exercising its option under the terms of the Lease Agreement dated March 4, 2003 to
extend the term for a period of an additional five (5) years. The revised expiration date
for the Total Premises as defined herein inclusive of the Expansion Premises is May 31,
2013.
4. The Annual Base Rent for PH-1C (Expansion Premises) shall be payable at a rate of
$22.00 per rentable square foot per year, or $2,722.50 per month until May 31, 2008, and
commencing on June 1, 2008 the Annual Base Rent for PH-1C shall increase three
percent (3%) to $22.66 per rentable square foot. The Annual Base Rent for PH-1B (the
Original Lease Premises) shall continue to be paid pursuant to the original Lease
Agreement dated March 4, 2003 until May 31, 2008. Commencing June 1, 2008,
the Annual Base Rent shall increase to $22.66 per rentable square foot. The Annual Base
Rent effective June 1, 2008 for the entire Leased Premises (Total Premises) consisting of
PH-1 B and PH-1 C, for a total of 4,070 rentable square feet, shall be $92,226.20 per year,
payable in advance on the first day of every month in twelve (12) monthly installments
of $7,685.52. The Annual Base Rent for the Total Premises shall increase by three
percent (3%) annually every June thereafter.
The Rent Schedule shall be as follows:
Premises
Square Feet
Time Period
Rate
Monthly Rent
Annual Rent
PH-1C
1,485
Upon
occupancy —
May 31, 2008
$22.00
$2,722.50
N/A
PH-1B
2,585
Through May
31, 2008
Pursuant to
lease dated
March 4, 2003
Pursuant to
lease dated
March 4, 2003
Pursuant to
lease dated
March 4, 2003
PH-1B & PH-1C
4,070
June 1, 2008 —
Ma 31, 2009
$22.66
$7,685.52
$92,226.20
PH-1B & PH-1 C
4,070
June 1, 2009 -
Ma 31, 2010
$23.34
$7,916.15
$94,993.80
PH-1 B & PH-1C
4,070
June 1, 2010 —
May 31, 2011
$24.04
$8,153.57
$97,842.80
PH-1 B & PH-1 C
4,070
June 1, 2011 —
May 31, 2012
$24.76
$8,397.77
$100,773.20
PH-1B & PH-1 C
4,070
June 1, 2012 —
May 31, 2013
$25.50
$8,648.75
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$103,785.00
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S. Landlord agrees as part of this amendment to make improvements to PH-1C
(Expansion Premises) which are more particularly described in Exhibit "A" attached
hereto and made a part hereof, all in accordance with building standards. Tenant agrees
that Landlord's work is limited to the foregoing and otherwise accepts the Expansion
Premises AS -IS.
6. CBRE Real Estate Services Inc. discloses it is the exclusive Broker in this
transaction, representing the Landlord. Both CBRE Real Estate Services Inc. and
Landlord acknowledge and agree that Landlord is solely responsible for any fees,
expenses and/or commission of Broker and that the City and the Tenant do not and will
not pay any fees, expenses, and/or commission of Broker.
7. Landlord and Tenant confirm that the Lease Agreement remains in full force and
effect, that Landlord is in compliance with the Lease Agreement provisions, and that
Tenant has no defenses, claims or offsets against Landlord and that Tenant is in
compliance with the Lease Agreement provisions and that Landlord has no defenses,
claims or offsets against Tenant. Except as specifically modified in this Amendment
including the Exhibits attached hereto and made a part hereof, the Lease Agreement
initially executed remains in full force and effect as of the date(s) originally executed.
This Amendment instrument shall become effective only upon execution of it by both
Landlord and Tenant; however,
UNLESS expressly stated herein (including the Exhibits attached hereto and made a part
hereof), this AMENDMENT will not modify the original Lease Agreement.
IN WITNESS WHEREOF, the undersigned have executed this FIRST AMENDMENT
TO LEASE AGREEMENT as of the date first mentioned above.
Witnesses as to Landlord:
Print Name
Address:
Print Name:
Address:
LANDLORD:
COLUMBUS PROPERTIES INC., a/k/a
COLUMBUS PROPERTIES OF ALASKA,
INC., an Alaska corporation,
By:
Name:
Title: �. _ _..___......__...�
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ATTEST:
By:
Priscilla A. Thompson
City Clerk
APPROVED AS TO INSURANCE
REQUIREMENTS:
By:
LeeAnn R. Brehm, Director
Risk Management Department
TENANT:
CITY OF MIAMI, a Florida municipal
corporation, for the use and benefit of the
CIVILIAN INVESTIGATIVE PANEL
By__.__.�..
Pedro G. Hernandez
City Manager
APPROVED AS TO FORM AND
CORRECTNESS:
By
Jorge L. Fernandez
City Attorney
Exhibit A — Work Letter
Exhibit B- City Commission authorization — to be attached upon document execution
Exhibit C — Landlord's corporate authorization — to be attached upon document execution
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