Reso 2014-2191 - Laserfiche WebLink

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S,NNY 14,P J OF Ar hLiiF CITY OF SUNNY ISLES BEACH F,C➢', �f`•SOR�NC tt PARKING LICENSE AGREEMENT This Parking License Agreement (this "Agreement ") is made as of the Zvi day of fi�wlmc I 12014, by and between the CIT)' OF SUNNY ISLES BEACH, a municipal c rporation (the "City ") and NEWPORT HOSPITALITY, LLC ( "Newport") and /or assigns. RECITALS WHEREAS, the City and Newport (collectively referred to as "the Parties ") desire to enter into an exclusive agreement whereby visitors of the Newport Beachside Hotel and Resort located at 16701 Collins Avenue, Sunny Isles Beach, FL, 33160, may park their vehicles in the parking lot located underneath the Sunny Isles Beach Boulevard Bridge (hereinafter referred to as the "Property "). NOW, THEREFORE, in consideration of the execution and delivery of this Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein in their entirety. 2. Use of the Sunny Isles Boulevard Bridge Parking Lot. The City hereby licenses to Newport the right to use on an exclusive basis parking spaces located within the Property to accommodate potential overflow parking from patrons of the Newport Beachside Hotel and Resort. The parking spaces may be utilized only by patrons of the Newport Beachside Hotel and Resort. No other use of the Property is permittee without the express written permission from the City. 3. License Fee. Newport shall pay a monthly fee of $6,000.00 (Six Thousand Dollars) for exclusive use of the parking spaces located within the Property. The payments shall be due no later than the 15th day of each month. 4. Term. The term of this Agreement shall be for five (5) years. This Agreement may be canceled by the City if its agreement with FDOT is terminated or if Newport fails to timely send any monthly fee to the City. Notwithstanding the above, Newport shall have a thirty (30) day cure period to correct any default under this Agreement. This agreement shall commence on the date the last party signs this agreement (the "Effective Date "). 5. Costs and approval of parking signs. The parties agree to share equally the costs associated with constructing and placing signs stating tha; the parking spaces on the Property shall only be utilized by patrons of Newport Beachside Hotel and Resort. Newport shall be required to obtain the prior written approval from the City prior to the signs being installed on the Property. 6. Improvements. No structures or improvements of any kind shall be placed upon the Property without prior written approval of the City.