Reso 2009-1491 - Laserfiche WebLink

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FIRST AMENDMENT TO LEASE This First Amendment to Lease ("Amendment") is made and entered into effective as of the 2'~ day of September, 2009, by and between, the City of Sunny Isles Beach, Florida ("Landlord") and Turnberry International Realty ("Tenant"). RECITALS: WHEREAS, Plaza Isles LLC and Tenant previously entered into that Shopping Center Lease Agreement on or about May 31, 2006, (the "Original Lease") leasing certain premises located at or commonly known as 16200 Collins Avenue, City of Sunny Isles Beach, ("Leased Premises"); and WHEREAS, Landlord recently purchased the property located at 16200 Collins Avenue, from Plaza Isles LLC; and WHEREAS, Landlord and Tenant desire to amend the terms of the Original Lease as hereinafter provided. NOW, THEREFORE, for and in consideration of the mutual covenants set forth herein, and other good and valuable consideration, the receipt and suffiCiency of which are hereby acknowledged, Landlord and Tenant do hereby agree as follows: 1. Definitions. All terms used in this First Amendment which are defined in the Original Lease shall have the same meaning in the Lease, unless otherwise specifically defined herein. Any conflict or inconsistency between definition and terms between the Original Lease and this First Amendment shall be governed by the definition in this First Amendment. 2. Rent. Section 2.01 of the Original Lease shall be amended to provide that the leased rate shall be reduced to $26.00 (twenty six dollars) per square foot, i.e. $2,600.00 (two thousand six hundred dollars) per month plus applicable sales tax for the duration of the Term as deflned in Paragraph 4 below. 3. Contribution to Sunny Isles School Trust Fund. Tenant agrees to make a $5,000.00 (five thousand dollar) contribution to "the Sunny Isles School Trust Fund", with the first $2,500.00 being due upon execution of this First Amendment to Lease, and the remaining $2,500.00 being due within 30 (thirty) days thereafter. 4. Term. Section 1.04 of the Original Lease shall be amended to eliminate the original lease expiration date of August 31, 2011, and to provide that Landlord and Tenant hereby agree that Tenant shall be provided six (6) months of continuous occupancy beginning on Oc..~ 1 , 2009 and ending on ~cLl \ ~o , 2010. After A-pv0.\ ~O , 2010, the Term shall continue on a month to month basis for six (6) months thereafter.