HomeMy WebLinkAboutExhibitAMENDMENT NO.2
TO THE LEASE AGREEMENT BETWEEN THE CITY OF MIAMI
AND THE OVERTOWN YOUTH CENTER
FOR USE OF A PORTION OF GIBSON PARK
This Amendment No. 2 to the Lease Agreement (the "Amendment") is entered into this
day of , 2016, by and between the City of Miami, a municipal
corporation of the State of Florida (herein after called the "Lessor"), and the Overtown
Youth Center, a not-for-profit corporation of the State of Florida (hereinafter called the
"Lessee") for the purpose of amending that certain Lease Agreement between the Lessor
and Lessee dated February 28, 2001, (the "Agreement");
WHEREAS, the City of Miami ("City") and the Overtown Youth Center, a not-
for-profit corporation of the State of Florida entered into a Lease. Agreement dated
February 28, 2001, for a term of five (5) years (the "Initial Term") which was for the
period February 28, 2001 through February 28, 2006;
WHEREAS, Lessee has the option to extend the term of the Lease Agreement for
five (5) additional five (5) year periods (the "Additional Term"), which shall be for the
period February 28, 2006 through February 28, 2031; as long as the Lessee is not in
default of any of the Lease provisions;
WHEREAS, Lessee requested and was granted an extension of the Lease by five
(5) years above and beyond its remaining fifteen (15) year duration for the requested total
period of twenty (20) years (which is February 28, 2031 through February 28, 2036);
WHEREAS, Lessee has encountered such a great demand within the community
for the opportunity to utilize the services provided at the center that they wish to invest no
less than $2,500,000 to expand the building in order to serve a greater number of children
within the neighboring community.
WHEREAS, Lessee is requesting that the Lease Agreement be extended by an
additional 30 years, for a total remaining term of approximately 50 years in exchange for
the significant capital to be invested in the property.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and
in consideration of other valuable consideration the parties covenant and agree as
follows:
Section 2.2 entitled "Term of Use and Conditions Precedent" is amended in its
entirety and replaced as follows:
The term of this lease commences on the possession date and expires on February 28,
2066 unless sooner terminated pursuant to Section 22.1 entitled "Events of Default -
Lessee," Section 22.3 entitled "Repeated Defaults" and/or Section 22.4 entitled
"Automatic Termination of Lease;"
2. Section 1.2 entitled "Defined Terms; Singular, Plural and Gender" is amended to add
the following:
(cc) "Additional Leasehold Improvements" means all of the buildings, structures and
improvements to be done in exchange for the extension of the Lease Term provided
in Amendment 2 to the Lease Agreement;
3. Lessee will submit to the City Manager for his approval a preliminary design for the
Additional Leasehold Improvements. Upon written approval by the City Manager,
Lessee shall cause the preparation of all drawings, plans, specifications and other
documents necessary to apply for applicable permits and be in accordance with the
Lease Agreement, the Miami Charter and Code, the South Florida Building Code and
all other applicable federal, state and local laws and ordinances.
4. Lessee has two (2) years following the execution of this Amendment by all parties to
provide evidence of funding necessary to complete the Additional Leasehold
Improvements
Except as specifically provided herein, all of the terms and provisions of the
Agreement shall remain in effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement of the
day and year first above written.
LESSOR:
ATTEST:
in
CITY OF MIAMI, a municipal corporation
of the State of Florida
By:
Todd B. Hannon Daniel J. Alfonso
City Clerk City Manager
APPROVED AS TO FORM AND
CORRECTNESS:
By: -
Victoria Mdndez
City Attorney
OVERTOWN YOUTH CENTER
Signature
ATTEST
Print Name and Title
Signature
Print Name and Title
APPROVED AS TO INSURANCE REQUIREMENTS:
By:
Ann -Marie Sharpe, Director
Risk Management