HomeMy WebLinkAboutCRA-R-14-0028 Backup (2)P 43OMTINC
LMENTAT1ON
SHQ1'PiNQ.CCNTER .EAS
THIS LEASE is made as of the day of February, 2014, by and between Southeast
Overtown/Park West Community Redevelopment Agency (Landlord"), having an address of
and VSMD FOOD CORP., a Florida corporation
("Tenant"), having an address 1490 NW 3rd Avenue, Suite 101, Miami, Florida 33133,
1. INTRODUCTORY PROVISIONS.
1.1 Fundarnental_ Tease Provisions, Certain fundamental provisions are presented in this
Section in summary form to facilitate convenient reference by the parties,
(a) Tenant's Trade Name: Top Value,.
(b) Commencement Date; 120 days after completion of Landlord's Work (See Section 3.1)
(c) Term: initial - Ten (10) years from the Commencement Date (See Section 3,1)
Renewal - Two (2) options for ten (10) years each (see First Addendum), (See Section 3,1)
(d) Initial Expiration Date: Ten (10) years following Commencement Date......., (See Section 3,1)
(e) Tenant Suite Number: 101 (See Exhibit "B")
(0 Size of Premises: 17,715 square feet of gross leasable area (See Section 2.1)
(g) Initial Payment: $13,142.17 (See Section 3,1)
(h) Minimum Rent (See Section 4.1 and 4.2)
Year ''Annual Monthly*
1-5 $70,860.00 $5,905.00 *Subject to adjustment in subsequent years pursuant to the
6-10 $77,946.00 $6,495,50 First Addendum, including as provided in Section 4.2 and the
Second Addendum
(i) Additional Rent: Tenant's Pro Rata Share of taxes, insurance,
Shopping Center operating costs and any other charges required
to be paid by Tenant under the terms of this Lease. (See Section 4.4)
(j) Security Deposit; $13,142.17 (See Section 4.9)
(k) Use: A first class grocery store for the sale at retail of food products and associated
merchandise to the public at retail pricing with a cafeteria selling food by the pound and for no
other purposes (See Section 6.1)
(1) Tenant Pro Rata Share: 55.39% (See Section 2.2 and 4.4)
(m) Guarantor(s): Melanio A. Diaz (Sec Exhibit F)
(n) Recap of 1st Year Rent:
Tenant Pro Rata Share 55.39% x Estimated Expenses $76,528,80 S42,389.30
per year
Base Rent: $ 5,905.00
Expenses: $ 6,377.40
Subtotal: $12,282,40
Sales Tax; $ 859.77
Advertising Fee: $ N/A
Total Rent: $13,142.17
(a) Percentage Rent Factor: One percent (1%)
1
Sales Break Point $10,000,000.00
Ove...ziwn Shopping Center
1490 NW 3rd Avenue.
Miami, FL 33136