HomeMy WebLinkAboutSprings Land Jessup Shores Joint Venture 4th Amended and Restated Lease Agreement -2007 07 30
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FOURTH AMENDED AND RESTATED LEASE AGREEMENT
THIS FOURTH AMENDED AND RESTATjl/~ASE AGREEMENT (the "Agreement") is
made and entered into as of the 30tN day of , 2007, between SPRINGS LAND
JESSUP SHORES JOINT VENTURE, with a pri ip address is 175 Lookout Place, Suite 201,
Maitland, Florida 32751 (hereinafter referred to as "Springs Land" and THE CITY OF WINTER
SPRINGS, FLORIDA, a Florida municipal corporation, with a principal address of 1126 East State
Road 434, Winter Springs, FL 32708 (hereinafter referred to as "City"):
WITNESSETH
WHEREAS, on or about March 3, 1992, the parties hereto entered into a Lease, as
amended from time to time, (the "Lease") regarding the real property legally described in Exhibit
"A," which is attached hereto and fully incorporated herein by this reference (hereinafter referred to
as "Property"); and
WHEREAS, the parties desire to restate the Lease and amend the Lease under the terms
and conditions stated herein; and
WHEREAS, the City has determined that it no longer has a public need for the Property; and
WHEREAS, as such, the parties desire to terminate the lease arrangement for the Property
at such time the City completes the restoration of the Property which shall be complete no later than
November13,2007;and
WHEREAS, the intent and purpose of this Agreement is to provide the City with a reasonable
period of time to commence and complete the restoration of the Property.
NOW, THEREFORE, in consideration of the mutual covenants herein contained and the
monetary consideration stated herein, the receipt and sufficiency of which is acknowledged by the
parties, the parties hereby agree as follows:
ARTICLE I - RECITALS
1.01 Recitals. The foregoing recitals are true and correct and are incorporated herein for all
purposes by this reference.
ARTICLE II - GRANT OF LEASE
2.01 Grant. Springs Land hereby demises and leases the Property to the City, and City hereby
leases and accepts the Property from Springs Land, to have and to hold during the Term, for the
public purposes provided herein and subject to the terms and conditions of this Agreement.
2.02 Quiet Eniovment. Upon paying the Rental and Additional Rent, and performing all other
covenants and obligations under this Agreement, the City shall hold the Property free from
Lease Agreement
City of Winter Springs- Springs Land JessupShores Joint Venture
Page 1 of 5
G:IDocIICIty of Winter Sprtng.\AgroementslSprtng LandI J..upIFlnal L...._Agre.ment 8.28.07 cl.an.doc
disturbance by Springs Land or anyone lawfully claiming under Springs Land.
2.03 Covenants of Sprinas Land and City. Springs Land covenants that it is seized with fee
simple ownership of the Property, that Springs Land will observe and perform all of the terms and
conditions of this Agreement, and that the executor of this Agreement, on behalf of Springs Land, is
duly authorized to execute this Agreement. City covenants to pay the Rent when due under this
Agreement and to obseNe and perform all of the terms and conditions of this Agreement.
ARTICLE III - TERM AND USE OF PROPERTY
3.01 Term: Termination. The Term of this Agreement shall be on a month-to month basis,
provided, however, it shall automatically terminate no later than November 13, 2007, unless mutually
extended in writing by the parties. Either party may terminate this Agreement by providing the other
party thirty (30) days written notice of its intent to terminate the Lease; provided, however, if this
Agreement is terminated prior to November 13, 2007 by either party, the City shall be entitled to a
refund of the Rental Payment which shall be prO-rated for the time the City did not utilize the
Property as specified under this Agreement.
3.02 Use of Property. The Property shall be used by the City as currently improved for public
access to and from S.R. 434. However, during the term of this Agreement, the City shall discontinue
the public access and promptly commence and complete, at the City's sole cost and expense, the
restoration of the Property to the condition that the Property was in immediately prior to the Original
Lease, dated March 3, 1992, including, but not limited to, removing existing pavement and other
existing public improvements, stabilizing the disturbed soil to prevent erosion, filling and restoring
the Property to initial grade level and plant grass seeds on the Property. The City shall duly obey
and comply with all public laws, ordinances, rules or regulations relating to the use of the access
parcel. In the event the City fails to restore the Property no later than November 13, 2007, the City
shall be considered a holdover tenant and the provisions of paragraph 8.06 below shall control.
ARTICLE IV - RENT. OCCUPANCY COSTS. AND OTHER CHARGES
4.01 Rent. During the Term of this Agreement the City shall pay to Springs Land the sum of
Thirty Eight Thousand Eight Hundred and 00/100 Dollars ($38,800.00), payable in equal quarterly
installments of Nine Thousand Seven Hundred and 00/100 Dollars ($9,700.00) in advance, without
demand, reduction or set-off ("Rental Payment"). Notwithstanding the foregoing, the first Rental
Payment shall be in the sum of Twenty-Nine Thousand One Hundred and 00/100 Dollars
($29,100.00) and shall be paid by the City to Springs Land upon the execution of this Agreement
by the City. Thereafter, the second Rental Payment shall be due and payable on August 1,2007.
4.02 Net Rent. The Rental Payment referred to herein to be paid by the City is the minimum net
monthly yield to be realized by Springs Land. The City agrees to pay as additional rent (the
"Additional Rent") during the Term, without demand, set-off or reduction, all property assessments,
including special assessments related to the property and other charges arising from this Agreement
and from the payments due hereunder. The City shall pay Landlord as additional rent, all Florida
sales tax due, if applicable, as a result of this Agreement. The Landlord shall pay for all ad valorem
taxes due on the Property.
Lease Agreement
City of Winter Springs- Springs Land JessupShores Joint Venture
Page 2 of 5
G:\Doc.1C1ty ofWlnt., Sprlng.\Ag.....nt.lSprlng L.nd. J..upIFln.1 L...._Ao.....nt 8.28.07 cl..n.doc
ARTICLE V . INJURY TO PERSON OR PROPERTY
5.01 Indemnitv by City. To the extent permitted by law and without waiving the City's right to
sovereign immunity under section 768.28, Florida Statutes, City shall indemnify and hold harmless
Springs Land from any and all claims whatsoever resulting from the City's use and restoration of the
Property.
ARTICLE VI . CITY ASSIGNMENT AND SUBLETTING
6.01 Assianment or Sublease by City. City shall not assign this Agreement or sublet the
Property.
ARTICLE VII . NOTICES
7.01 Notices. All notices, demands, requests, instructions, approvals, and claims of any type
hereunder shall be given by U.S. mail or by hand delivery to an individual authorized to receive mail
for the below listed individuals, all to the following individuals at the following locations:
TO THE CITY:
Mr. Ronald W. McLemore, City Manger
City of Winter Springs
1126 East State Road 434
Winter Springs, FI. 32708-2799
407 -327 -5957 (Phone)
407-327-6686 (Fax)
TO SPRINGS LAND:
A.C. Leerdam
660 Jackson St.
Suite 202
Winter Park, FL 32789
407-645-5244 (Phone)
407-645-3804 (Fax)
ARTICLE VIII . MISCELLANEOUS
8.01 Applicable Law; Venue; and Construction. This Agreement shall be governed by and
construed under the laws of the State of Florida. Venue for any actions filed regarding this
Agreement shall be Seminole County, Florida. The provisions of this Agreement shall be construed
Lease Agreement
City of Winter Springs- Springs Land JessupShores Joint Venture
Page 3 of 5
G:IDocIICIty olWlnt.r SprfnDllAQr...mentl\Sp~nD Land. J..upIFlnal L...._Ag...ment 8-21.07 clean.doc
as a whole according to their common meaning and not strictly for or against Springs Land or City.
8.02 Entire Aareement: Severabilit'{. This Agreement contains the entire agreement between
the parties hereto with respect to the subject matter of this Agreement. In the event that any
provision or clause of this Agreement conflicts with applicable Florida law, such conflict shall not
effect the other provisions of this Agreement which will be given full force and effect without the
conflicting provision.
8.03 Amendment or Modification. Unless otherwise specifically provided in this Agreement, no
amendment, modification, or supplement to this Agreement shall be valid or binding unless set out
in writing and executed by the parties hereto in the same manner as the execution of this
Agreement.
8.04 Successors Bound. Except as otherwise specifically provided, the covenants, terms and
conditions contained in this Agreement shall apply to and bind the heirs, successors, executors,
administrators and assigns of the parties hereto.
8.05 City Not to Allow Liens or Encumbrances. City shall not permit to be created nor to
remain undischarged any lien, encumbrance, or charge arising out of any work of any contractor,
mechanic, laborer, or materialman which might lien or encumber the Property for work performed on
the City's behalf on the Property.
8.06 Holdover. If the City fails promptly to vacate and redeliver possession of the Property to
Springs Land on or before the November 13, 2007, the City will pay during the period of the City's
holdover the sum of Seven Thousand Five Hundred and 00/100 Dollars ($7,500.00) per month
("Holdover Rental Payments"). Spring Land's acceptance of the Holdover Rental Payments during
the City's holdover will not be deemed a renewal of this Agreement or permission for the City's
holdover. The City will nonetheless be occupying the Property, without right and in violation of this
Agreement.
Signatures on Following Pages
Lease Agreement
City of Winter Springs- Springs Land JessupShores Joint Venture
Page 4 of 5
G:\Doc.\C1ty o'Wlnter Sp~ngllAare.mont.\Sprtng L.nd.J..upIFIn.' L...._Aare.mont..ZI-07 cl..n.doc
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above
written.
WITNESSES:
SPRINGS LAND/JESSUP SHORES
JOINT VENTURE
By:
Print Name:
By: ~ ivJJ
Print N'ame: /4i,..bwI!1 W,'~
By: Euro American Investors Group, Inc. 115
Managing partner
By: Sunbelt Invest Group, Inc., its General
Partner
By:
ATTEST:
CITY OF WINTERSPR~NGS. FLORIDA
By: ~~ 1#<-
, Ronald Wv1cLe'
rea Lorenzo-Luaces, City Clerk
Lease Agreement
City of Winter Sprlngs- Springs Land JessupShores Joint Venture
Page 5 of 5
G:\DOCIICIIy ofWlntor Springl\Agre.mentllSpring landI J.lup'FIn.' L...._Agre.ment 8028.07 cl..n.doc
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BROWN, GARGANESE, WEISS & D'AGRESTA"P.A.
C;r-I-j.~..!,.:-
Attornrys at Law
Debra S, Babb-Nutcher"
Joseph E. Blitch
Usher L. Brown'
Suzanne D'AgrestaD
Anthony A. GarganeseD
J'w. Taylor
Jeffrey S. Weiss
Offices in Orlando, Kissimmee, Cocoa,
Ft. Lauderdale & Tampa
Vivian Cocotas
Scott J. Dornstein
Mitchell B. Haller
Katherine W. Latorre
Amy J. Pitsch
'Board Certified Civil Trial Lawyer
"Board Certified City, County & Local Government Law
"Board Certified Appellate Practice
Erin J. O'Leary"
Catherine D. Reischmann"
William E. Reischmann, Jr.
Of Counsel
August 7, 2007
Andrea Lorenzo-Luaces, City Clerk
City of Winter Springs
1126 East State Road 434
Winter Springs, Florida 32708
Re: Fourth Amended and Restated Lease Agreement
Dear Andrea:
Please find enclosed for safekeeping, the original fully executed and recorded Fourth
Amended and Restated Lease Agreement for Springs Land Jessup Shores Joint Venture, LLC.
Should you have any questions, please do not hesitate to contact our offices.
.--
--
Enclosure
/kdm
225 East Robinson Street, Suite 660 . P.O. Box 2873' Orlando, Florida 32802-2873
Orlando (407) 425-9566 Fax (407) 425-9596' Kissimmee (321) 402-0144' Cocoa (866) 425-9566' Ft. Lauderdale (954) 670-1979
Website: www.orlandolaw.net . Email: firm@orlandolaw.net