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<br />THIS ADDENDUM SHALL BE AN INTEGRAL PART OF THE LEASE AGREEMENT. IN <br />THE EVENT THAT ANY TERMS OR CONDITIONS CONTAINED HEREIN CONFLICT <br />WITH THE LEASE AGREEMENT. THE TERMS AND CONDITIONS OF THIS <br />ADDENDUM SHALL PREVAIL. <br /> <br />LEASE BETWEEN: R.K. ASSOCIATES (LESSOR) AND THE CITY OF SUNNY ISLES <br />BEACH (LESSEE) FOR THE LEASED PREMISES KNOWN AS 17070 SPACE #250. <br />251,252 COLLINS AVENUE,SUNNYISLES BEACH FL 33160 <br />t. n-y I'f' prt..(,.... ~ \ ( S> <br />AS AN INDU~MENT FOR TENANT TO REMODEL THE LEASED PREMISES AND <br />DEVELOP A :!tST ~1..A::i::i OPEKAu~. LESSOR GRANTS LESsEE A RENT <br />CONCESSION AS FOLLOWS: <br /> <br />LEASE <br />PERIOD <br />AUGUST 1, 1998- <br />AUGUST 31, 2003 <br /> <br />BASE RENT <br />$17,000.00 <br /> <br />DISCOUNT <br />($12,833.34) <br /> <br />New <br />Monthly <br />RENT <br />$4,166.66 <br /> <br />COMMENCING SEPTEMBER 1, 2003, LESSEE SHALL HAVE AN <br />OPTION TO EXTEND THIS LEASE UNDER THE TERMS SPECIFIED IN <br />THE BASE LEASE AGREEMENT. <br /> <br />DURING THE CALENDAR YEAR 1999, AT THE SOLE DISCRETION OF <br />THE MAYOR AND THE CITY COUNCIL, THE BASE RENT IN THE <br />LEASE WILL BE REVIEWED ONCE AGAIN. IF THE CITY'S BUDGET <br />PROVIDES FOR AN INCREASE IN THE RENT , LESSOR AND LESSEE <br />WILL AGREE ON ADEQUATE TERMS FOR A MODIFICATION TO THE <br />TERMS CONTAINED IN THIS LEASE AGREEMENT. <br /> <br />AS AND ADDITIONAL CONCESSION LESSEE'S PORTION OF <br />OPERATING EXPENSES PURSUANT TO CLAUSE TWENTY THREE (23) <br />OF THE BASE LEASE AGREEMENT WILL BE INCLUDED IN THE <br />ABOVE REFRENCED RENT PAYMENTS. ALSO, SINCE THE CITY IS A <br />MUNCIPALITY, TAX EXEMPT STATUS WILL APPLY. <br /> <br />1) DELIVERY OF LEASED PREMISES: LESSEE IS <br />ACCEPTING THE LEASED PREMISES IN AS-IS CONDITION. <br />LESSEE WILL UNDERTAKE ALL WORK NECESSARY IN <br />ORDER TO OPEN THE LEASED PREMISES FOR BUSINESS, <br />INCLUDING RECEIPT OF A CERTIFICATE OF USE AND <br />OCCUPANCY, AND ALL ZONING APPROVALS AND <br />LICENSES. <br />