Reso 2011-1749 - Laserfiche WebLink

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Section 2. Renewal Terms. Provided Tenant is not in default under the terms of the Lease or any renewals, Tenant shall have the right to renew this Lease for two (2) additional periods of up to thirty (30) years each and a final option for nine (9) years (each of which is referred to herein as a "Renewal Term"), upon the same terms and conditions as the Original Term except that the number of renewal options shall be reduced by the renewal option then being exercised and any renewal options previously exercised. An option period shall be exercised by delivering written notice to Landlord on or before twelve (12) months prior to the end of the Original Term or the applicable Renewal Term, as the case may be. The 'Term" shall include the Original Term and any Renewal Term. Section 3. Early Termination. This Lease can be terminated by the Landlord or the Tenant at any time without financial costs to either by providing thirty (30) days written notice to the other if Tenant is not able to engage an "Acceptable Vendor" as defined in Article VIII to operate the retail restaurant facilities as described in Exhibit "C" six (6) months from the date of approval of this Lease by the City of Sunny Isles Beach Commission. Section 4. Access to Premises. Subject to the terms and conditions of this Lease, including, but not limited to, Tenant performing its financial and other obligations under this Lease, Landlord grants Tenant the non-exclusive right of reasonable ingress and egress to and from the Premises over Landlord's Property for itself and its officers, employees, agents, subtenants, invitees, vendors, and contractors. Tenant's right of access is subject to rules and regulations adopted by the City or other governmental authority. Tenant shall not interfere with or impair the use of the park and parking garage by the general public unless otherwise agreed to herein. Any other use by Tenant of Landlord's Property must be approved by the Landlord in writing except Landlord may grant Tenant permission to use Landlord's property for special events on a annual basis. Tenant grants Landlord, and its officers, employees, agents, subtenants, invitees, vendors, contractors and the general public, the non-exclusive right of reasonable ingress and egress to and from the Premises in order to obtain access to public property. Landlord and Tenant shall enter into a temporary construction easement agreement to facilitate the construction of the Tenant's Improvements prior to the effective date of this Lease. Section 5. Use of Premises. Tenant, at Tenant's sole expense, is authorized to develop, finance, construct, manage, maintain and operate a retail restaurant( s) and associated amenities on the Premises. Tenant may not use the Premises for any other purpose without the prior written consent of the Landlord, which Landlord may grant or withhold in its sole and absolute discretion. ARTICLE II Rent Section 1. Rent. Commencing one year from date of execution of any sublease(s) with any Acceptable Vendor, the Tenant shall pay Landlord an annual rental for each "Lease Year" (as hereinafter defined), of thirty percent (30%) of annual Gross Rent collected, as hereinafter defined, ("Rent") derived or generated from the subleases entered between Tenant and Acceptable Vendor(s). Rent payment shall be made to Landlord on the last day of the Lease 3