Reso 2015-2411 - Laserfiche WebLink

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Nr^j� TRIPLE NET LEASEBACK AGREEMENT THIS LE NE LEASEBACK AGREEMENT is entered into and effective as of this t day of \ 1 2015, by and between THE CITY OF SUNNY ISLES BEACH, FLORIDA, body corporate and politic organized under the laws of the State of Florida, hereinafter referred to as the "LANDLORD", and TRG SUNNY ISLES VII WEST,LLC, hereinafter referred to as the "TENANT". WHEREAS,the Landlord is the owner of that certain parcel of property located at 15800 Collins Avenue, Sunny Isles Beach, FL, and of which the legal description is set forth in Exhibit "A" attached hereto and made a part hereof ("Realty") in fee simple, together with the following property and rights (the Realty and such property and rights are referred to herein collectively as the "Property"); and WHEREAS, the Tenant desires to rent and lease the Property from the Landlord, and the Landlord has agreed to lease the same to the Tenant upon the following terms and conditions. NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, and in consideration of the rents and covenants of the Tenant to be paid and kept as herein contained, the Landlord has agreed to lease unto the Tenant, and by these presents does hereby lease the Property unto the Tenant, and the Tenant hereby leases the Property from the Landlord, and the parties do covenant and agree as follows: 1. Term. This Lease shall be for three years in duration, commencing April 17, 2015, (the "Commencement Date") and ending on April 16, 2018, (the "Termination Date"), unless terminated earlier based upon mutual agreement by the Parties. The Tenant shall be required to immediately vacate the Property. 2. Premises. a. Lease of Premises. Landlord leases to the Tenant, and Tenant leases from Landlord the Property upon the terms specified in this Lease. b. Acceptance of Premises. Except as specified elsewhere in this Lease, Landlord makes no representations or warranties to Tenant regarding the Property, including the structural condition of the Property and the condition of all mechanical, electrical, and other systems on the Property. Tenant shall be responsible for performing any work necessary to bring the Property into condition satisfactory to Tenant. By signing this Lease, Tenant acknowledges that it has had adequate opportunity to investigate the Property, acknowledges responsibility for making any corrections, alterations and repairs to the Property, and acknowledges that the time needed to complete any such items shall not delay the Commencement Date. 112376092.2 SIB