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HomeMy WebLinkAboutResolution 2026-34287RESOLUTION NO. 2026-34287 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA APPROVING ON A 5/7TH VOTE, IN SUBSTANTIAL FORM, A FIFTH AMENDMENT (LEASE AMENDMENT) TO THE LEASE AGREEMENT DATED NOVEMBER 7, 1985 BY AND BETWEEN THE CITY AND PENROD BROTHERS, INC. (PENROD) AND A SECOND AMENDMENT (CONCESSION AMENDMENT) TO THE CONCESSION AGREEMENT DATED FEBRUARY 25, 2005 BETWEEN THE CITY AND PENROD TO ALLOW FOR AN EXTENSION OF THE LEASE AND CONCESSION AGREEMENT THROUGH AUGUST 6, 2027, AS WELL AS ALTERNATIVE VERSIONS OF THE LEASE AMENDMENT AND CONCESSION AMENDMENT TO ALLOW FOR A SHORTER EXTENSION THROUGH JANUARY 10, 2027 SUCH ALTERNATIVE VERSIONS TO BE EFFECTIVE ONLY IF CERTAIN CONDITIONS IN THE CONTEMPLATED SETTLEMENT AGREEMENT AMONG PENROD, THE CITY AND BOUCHER BROTHERS PIER PARK, LLC ARE NOT SATISFIED RENDERING THE SETTLEMENT AGREEMENT VOID; AND AUTHORIZING THE CITY MANAGER TO FINALIZE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT; AND FURTHER, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT AND THE ALTERNATIVE VERSIONS THEREOF. WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the Premises (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on March 2, 1988, the Mayor and City Commission adopted Resolution No. 88- 19178, approving the First Amendment to the Lease Agreement, thereby amending the building footprint and appropriating funds for construction of a portion of the Pier Park parking area; and WHEREAS, on April 6, 1988, the Mayor and City Commission adopted Resolution No, 88- 19211, approving the Second Amendment to the Lease Agreement, thereby revising the site plan and legal description; and WHEREAS, On February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25506, approving a Concession Agreement between the City and Penrod for the operation of a concession in the Concession Area consisting of the rental of beach equipment, water recreation equipment and food and beverage service (the "Concession Agreement"); and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25507, approving the Third Amendment to the Lease Agreement thereby correcting a scrivener's error in the exhibits to the Lease Agreement, to modify certain provision relating to Percentage Rent and to enable Penrod to terminate the Concession Agreement in the event of an economic downturn; and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023-32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479 KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Boucher Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657-CA-01 (Fla. 11 th Cir. Civ.); 2023-56-AP-01 (Fla. 1 1 th Cir. App.); 2023-CV- 23362 (S.D. Fla.); 2025-13415 (11 th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which will be documented in a settlement agreement ("Settlement Agreement'), an amendment to the Lease (the "Fifth Amendment to Lease"), and an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement'), and an amendment to the Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15-month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026; and WHEREAS, when the Term Sheet was entered into, the City, Penrod and Boucher anticipated that the various amendments to existing agreements among the parties would be finalized relatively soon following the mediation, including an amendment to the Boucher Contract, but it is not feasible for the Boucher Contract to be approved before the July 22, 2026 meeting of the City Commission; and WHEREAS, if the amendment to the Boucher Contract is approved by the City Commission by or before September 30, 2026, the Settlement Agreement will become fully effective, but otherwise will become null and void; and WHEREAS, Penrod agreed to the terms of the Settlement Agreement, in part, based on its expectation that it would be able to conduct business through August 2027, however, due to the uncertainty created by the anticipated delay in obtaining approval of the amendment to the Boucher Contract, Penrod has requested some level of certainty to enable it to book events through the end of 2026; and WHEREAS, to enable Penrod to have some certainty, the City and Penrod have agreed to alternative versions of the Fifth Amendment to Lease and Second Amendment to Concession Agreement that would extend the term of each through January 10, 2027, such alternative versions to become effective only if the Boucher Contract is not approved by the City Commission by or before September 30, 2026 and the Settlement Agreement, the original Fifth Amendment to Lease and original Second Amendment to Concession Agreement are voided as a result; and WHEREAS, the City Administration has reviewed the proposed settlement terms, the Fifth Amendment to Lease, Second Amendment to Concession Agreement and the alternative versions of each and determined that the settlement, including the execution of the Fifth Amendment to Lease, Second Amendment to Concession Agreement and the alternative versions of each, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve on a 5/7th vote, in substantial form, a Fifth Amendment ("Lease Amendment") to the Lease Agreement dated November 7, 1985 by and between the City of Miami Beach and Penrod Brothers, Inc. ("Penrod") and a Second Amendment ("Concession Amendment") to the Concession Agreement dated February 25, 2005 between the City and Penrod to allow for an extension of the Lease and Concession Agreement through August 6, 2027, as well as alternative versions of the Lease Amendment and Concession Amendment to allow for a shorter extension through January 10, 2027 such alternative versions to be effective only if certain conditions in the contemplated settlement agreement among Penrod, the City and Boucher Brothers Pier Park, LLC are not satisfied rendering the Settlement Agreement void; and authorize the City Manager to finalize the Lease Amendment and the Concession Amendment; and further authorize the Mayor and City Clerk to execute the Lease Amendment, the Concession Amendment and the alternative versions thereof. PASSED and ADOPTED this dO day of W41 2026. ATTEST: 14 MAY 2 6 2026 Rafael E. Granado, Secretary NC0RP10 even Meiner, Mayor APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION City Attorney Date Resolutions - R7 C MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Eric Carpenter, City Manager DATE: May 20, 2026 2:30 p.m. Public Hearing TITLE: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA APPROVING ON A 5/7TH VOTE, IN SUBSTANTIAL FORM, A FIFTH AMENDMENT (LEASE AMENDMENT) TO THE LEASE AGREEMENT DATED NOVEMBER 7, 1985 BY AND BETWEEN THE CITY AND PENROD BROTHERS, INC. (PENROD) AND A SECOND AMENDMENT (CONCESSION AMENDMENT) TO THE CONCESSION AGREEMENT DATED FEBRUARY 25, 2005 BETWEEN THE CITY AND PENROD TO ALLOW FOR AN EXTENSION OF THE LEASE AND CONCESSION AGREEMENT THROUGH AUGUST 6, 2027, AS WELL AS ALTERNATIVE VERSIONS OF THE LEASE AMENDMENT AND CONCESSION AMENDMENT TO ALLOW FOR A SHORTER EXTENSION THROUGH JANUARY 10, 2027; SUCH ALTERNATIVE VERSIONS TO BE EFFECTIVE ONLY IF CERTAIN CONDITIONS IN THE CONTEMPLATED SETTLEMENT AGREEMENT AMONG PENROD, THE CITY AND BOUCHER BROTHERS PIER PARK, LLC ARE NOT SATISFIED RENDERING THE SETTLEMENT AGREEMENT VOID; AND AUTHORIZING THE CITY MANAGER TO FINALIZE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT; AND FURTHER, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT AND THE ALTERNATIVE VERSIONS THEREOF. RECOMMENDATION The Administration recommends adopting the Resolution approving Amendment No. 5 to the Lease Agreement and Amendment No. 2 to the Concession Agreement between the City of Miami Beach and Penrod Brothers, Inc., extending the term of the Lease Agreement and Concession Agreement through August 6, 2027, as well as alternative versions of the Lease Amendment and Concession Amendment to allow for a shorter extension through January 10, 2027, for the use and operation of the premises located at One Ocean Drive. BACKGROUNDIHISTORY On October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the Premises (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"). On March 2, 1988, the Mayor and City Commission adopted Resolution No. 88-19178, approving the First Amendment to the Lease Agreement, thereby amending the building footprint and appropriating funds for construction of a portion of the Pier Park parking area. On April 6, 1988, the Mayor and City Commission adopted Resolution No, 88-19211, approving 870 of 1709 the Second Amendment to the Lease Agreement, thereby revising the site plan and legal description. On February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25506, approving the Third Amendment to the Lease Agreement thereby correcting a scrivener's error in the exhibits to the Lease Agreement, to modify certain provision relating to Percentage Rent and to enable Penrod to terminate the Concession Agreement dated February 25, 2004 between the parties (the "Concession Agreement") in the event of an economic downturn. ANALYSIS Disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023-32586, 2023-32612, and 2023- 32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023- 016657-CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 11th Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025-13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"). On March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which will be documented in a settlement agreement ("Settlement Agreement" — Exhibit C), an amendment to the Lease (the "Fifth and Final Amendment" — Exhibit A), and an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement" — Exhibit B), and an amendment to the Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval. The terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement through August 6, 2027. On April 22, 2026, the Mayor and City Commission adopted Resolution No. 2026-34212, to accommodate the preparation of the Settlement Documents and presentation thereof for approval to the Mayor and City Commission at its May 20, 2026 meeting, the parties desire to effectuate a short-term extension of the Lease Agreement (through Amendment No. 4) and Concession Agreement (through Amendment No. 1). If by or before September 30, 2026, the Mayor and City Commission of the City of Miami Beach has not approved an amendment to the Concession Agreement for Management and Operation of a High -End Beach Establishment dated October 20, 2023 by and between the City of Miami Beach and Boucher Brother Pier Park, LLC ("Boucher") as contemplated by the Settlement Agreement, then this Amendment shall be null and void and the Alternative Fifth Amendment shall be immediately effective. To enable Penrod to have some certainty, the City and Penrod have agreed to alternative versions of the Fifth Amendment to the Lease and Second Amendment to the Concession Agreement that would extend the term of each through January 10, 2027. Such alternative versions become effective only if the Boucher Contract is not approved by the City Commission by or before September 30, 2026. The Settlement Agreement, the original Fifth Amendment to the Lease and the original Second Amendment to the Concession Agreement would be voided as a result. FISCAL IMPACT STATEMENT 871 of 1709 N/A Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY) If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https•//www miamibeachfl gov/city-hall/city-clerk/meeting-notices/ FINANCIAL INFORMATION CONCLUSION The Administration recommends that the Mayor and City Commission hereby approve on a 5/7th vote, in substantial form, a Fifth Amendment to the Lease Agreement dated November 7, 1985 and a Second Amendment to the Concession Agreement dated February 25, 2005 between the City and Penrod to allow for an extension of the Lease and Concession Agreement through August 6, 2027, as well as alternative versions of the Lease Amendment and Concession Amendment to allow for a shorter extension through January 10, 2027; such alternative versions to be effective only if certain conditions in the contemplated settlement agreement among Penrod, the City and Boucher Brothers Pier Park, LLC are not satisfied and therefore rendering the Settlement Agreement as null and void; and authorize the City Manager to finalize the Lease Amendment and the Concession Amendment; and further authorize the Mayor and City Clerk to execute the Lease Amendment, the Concession Amendment and the alternative versions thereof. Applicable Area South Beach Is this a "Residents Right to Know" item, pursuant to City Code Section 2-17? No Is this item related to a G.O. Bond Project? M Was this Agenda Item initially requested by a lobbyist which as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No If so, specify the name of lobbyist(s) and principal(s): Department City Manager Sponsor(s) Co-sponsor(s) 872 of 1709 Condensed Title 2:30 p.m. PH, Amend Lease and Concession Agreement w/ Penrod Brothers. CM 5/7 Previous Action (For City Clerk Use Only) 873 of 1709 EXHIBIT A FIFTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. This Fifth Amendment ("Amendment") to the Lease Agreement dated November 7, 1985 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("Lessor" or "City"), and Penrod Brothers, Inc., a Florida corporation ("Lessee" or "Penrod", and together with the City, "the parties"), for the property located at One Ocean Drive, Miami Beach, FL ("Premises") is entered into this day of , 20 RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the Premises (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on March 2, 1988, the Mayor and City Commission adopted Resolution No. 88-19178, approving the First Amendment to the Lease Agreement, thereby amending the building footprint and appropriating funds for construction of a portion of the Pier Park parking area; and WHEREAS, on April 6, 1988, the Mayor and City Commission adopted Resolution No, 88-19211, approving the Second Amendment to the Lease Agreement, thereby revising the site plan and legal description; and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25507, approving the Third Amendment to the Lease Agreement to correct a scrivener's error in the exhibits to the Lease Agreement, to modify certain provisions relating to Percentage Rent, and to enable Penrod to terminate the Concession Agreement dated February 25, 2004 between the parties (the "Concession Agreement") in the event of an economic downturn; and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher') dated October 20, 2023 (the "Boucher Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657- CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 11th Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025-13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties 874 of 1709 agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet'), which will be documented in a settlement agreement ("Settlement Agreement'), an amendment to the Lease (the "Fifth and Final Amendment"), and an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement"), and an amendment to the Boucher Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Lessee hereby agree to amend the Agreement as follows: 1. ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Lease Agreement. 2. MODIFICATIONS. The Lease Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through August 6, 2027. 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. 875 of 1709 FOR LANDLORD: ATTEST: M Rafael E. Granado, City Clerk Date FOR TENANT: Witnesses: Print Name: Print Name: CITY OF MIAMI BEACH Steven Meiner, Mayor PENROD BROTHERS INC. President Print Name 876 of 1709 EXHIBIT B SECOND AMENDMENT TO THE CONCESSION AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. This Second Amendment ("Amendment") to the Concession Agreement dated February 25, 2004 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("City"), and Penrod Brothers, Inc., a Florida corporation ("Penrod" or "Concessionaire", and together with the City, "the parties"), for that portion of Pier Park seaward of the footprint of the Penrod's Restaurant located at One Ocean Drive, Miami Beach, and the beaches seaward thereof (the "Concession Area") is entered into this day of , 20 RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the property located at One Ocean Drive (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25506, approving a Concession Agreement between the City and Penrod for the operation of a concession in the Concession Area consisting of the rental of beach equipment, water recreation equipment and food and beverage service (the "Concession Agreement"); and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657-CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 11th Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025- 13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"): and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which will be documented in a settlement agreement ("Settlement Agreement"), an amendment to the Lease (the "Fifth and Final Amendment"), an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement") and an amendment to the Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and 877 of 1709 WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Lessee hereby agree to amend the Agreement as follows: 1. ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Concession Agreement. 2. MODIFICATIONS. The Concession Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through August 6, 2027. 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. FOR LANDLORD: ATTEST: 0 Rafael E. Granado, City Clerk Date CITY OF MIAMI BEACH Eric T. Carpenter, City Manager 878 of 1709 FOR CONCESSIONAIRE: Witnesses: By: Print Name: Print Name: PENROD BROTHERS INC. President Print Name 879 of 1709 Docusign Envelope ID 8CD57725-CD9B-4769-9440-C954A2BF4FA9 Penrod Bros. Inc. v. City of Miami Beach, Boucher Bros. Miami Beach, LLC Case No. 2023-016657-CA-01 Mediation Settlement Binding Term Sheet • Penrod will immediately withdraw/terminate all support of any kind for any opposition; and end any joint/common-interest relationship and all assistance with any objector/opposition; in respect of RFP, Property, and all related subject matter. • Boucher and the City to pay Penrod $3 million (the "Settlement Payment") on the earlier of September 30, 2026 or final approval of all Project Approvals (as that term is defined under the Boucher Contract). The Settlement Payment is to be paid as follows: the City to pay $1.5 million and Boucher to pay $1.5 million. Upon payment, Penrod will dismiss with prejudice all claims, causes of actions, suits, appeals, etc.; withdraw with prejudice all objections, protests, or other administrative actions. • City and Penrod extend Penrod's lease and concession agreement by 15 months (to end August 6, 2027), on the same rent/payment, operational, and other terms. Penrod will continue operations in compliance with lease and all applicable laws, including without limitation all City ordinances. Penrod may sub -lease or sub -contract portions of the property for operations consistent with current uses and hours operation. All three parties agree to non-interference with Penrod's contracts and operations. Penrod will allow specific boring tests by Boucher provided non-interference with Penrod's operations. • Standard mutual releases. All parties pay their own attorneys' fees, etc. • All settlement terms herein are contingent upon City final approval of all agreed amendments to the Boucher Contract as listed in the Binding Settlement Term Sheet between Boucher and the City attached hereto as Exhibit A. • At the end of Penrod's lease and concession agreement, Penrod shall deliver the City property at One Ocean Drive back to the City in no worse condition than exists as of the date of the Settlement Agreement consistent with Section 20 of Penrod's lease with the City. • Parties will jointly and under seal seek stay of litigation to allow for Planning Board review, and Commission approval, documentation, and execution. • Pursuant to Rule 1.720(d), the City's signature solely signifies that it will recommend the above terms to the Mayor and City Commission for final settlement approval. This reflects the parties' material terms of settlement. 880 of 1709 Docusign Envelope ID: 8CD57725-CD9B-4769-9440-C954A2BF4FA9 PENROD BROTHERS INC. BOUCHER BROTHERS MIAMI BEACH, uftned by: Docusgned by: a as T J� by Lucia Penrod, CEO, Co -Founder, Owner CITY OF MIAMI BEACH 71, d by'. ptv`{JO L-Pic—O 488EMC5E78428— by Ricardo Dopico, City Attorney by Steven Boucher, Co -Founder, Principal #14599360 vl 881 of 1709 FIFTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. This Fifth Amendment ("Amendment") to the Lease Agreement dated November 7, 1985 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("Lessor" or "City"), and Penrod Brothers, Inc., a Florida corporation ("Lessee" or "Penrod", and together with the City, "the parties"), for the property located at One Ocean Drive, Miami Beach, FL ("Premises") is entered into this day of , 20 RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the Premises (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on March 2, 1988, the Mayor and City Commission adopted Resolution No. 88-19178, approving the First Amendment to the Lease Agreement, thereby amending the building footprint and appropriating funds for construction of a portion of the Pier Park parking area; and WHEREAS, on April 6, 1988, the Mayor and City Commission adopted Resolution No, 88-19211, approving the Second Amendment to the Lease Agreement, thereby revising the site plan and legal description; and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25507, approving the Third Amendment to the Lease Agreement to correct a scrivener's error in the exhibits to the Lease Agreement, to modify certain provisions relating to Percentage Rent, and to enable Penrod to terminate the Concession Agreement dated February 25, 2004 between the parties (the "Concession Agreement") in the event of an economic downturn; and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Boucher Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657- CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 11th Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025-13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to agreed to the material terms of a settlement of th e 885 of 1709 agreement ("Settlement Agreement"), an amendment to the Lease (the "Fifth and Final Amendment'), and an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement'), and an amendment to the Boucher Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Lessee hereby agree to amend the Agreement as follows: 1. ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Lease Agreement. 2. MODIFICATIONS. The Lease Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through August 6, 2027. The Lessor and Lessee have simultaneously executed an alternative form of this Amendment (the "Alternative Fifth Amendment to Lease"). If by or before September 30, 2026, the Mayor and City Commission,of the City of Miami Beach, Florida has not approved an amendment to that certain Concession Agreement for Management and Operation of a High -End Beach Establishment dated October 20, 2023 by and between the Lessor and Boucher Brother Pier Park, LLC ("Boucher") as contemplated by that certain Settlement Agreement ("Settlement Agreement') dated , 2026 by and among the Lessee, the Lessor and Boucher resulting in the voidance of the Settlement Agreement, then this Amendment shall be null and void ab initio and the Alternative Fifth Amendment shall be immediately effective. 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. 886 of 1709 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. FOR LANDLORD: ATTEST: M Rafael E. Granado, City Clerk Date FOR TENANT: Witnesses: Print Name: Print Name: CITY OF MIAMI BEACH Steven Meiner, Mayor PENROD BROTHERS INC. President Print Name 887 of 1709 FIFTH AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. [ALTERNATIVE FORM] This Fifth Amendment ("Amendment") to the Lease Agreement dated November 7, 1985 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("Lessor" or "City"), and Penrod Brothers, Inc., a Florida corporation ("Lessee" or "Penrod", and together with the City, "the parties"), for the property located at One Ocean Drive, Miami Beach, FL ("Premises") is entered into this 30111 day of September 2026. RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the Premises (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on March 2, 1988, the Mayor and City Commission adopted Resolution No. 88-19178, approving the First Amendment to the Lease Agreement, thereby amending the building footprint and appropriating funds for construction of a portion of the Pier Park parking area; and WHEREAS, on April 6, 1988, the Mayor and City Commission adopted Resolution No, 88-19211, approving the Second Amendment to the Lease Agreement, thereby revising the site plan and legal description; and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25507, approving the Third Amendment to the Lease Agreement to correct a scrivener's error in the exhibits to the Lease Agreement, to modify certain provisions relating to Percentage Rent, and to enable Penrod to terminate the Concession Agreement dated February 25, 2004 between the parties (the "Concession Agreement") in the event of an economic downturn; and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher) dated October 20, 2023 (the "Boucher Contract"); variances and permits; and applications by Boucher and City for land use approvals, p including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657- CA-01 ( Fla. 11 th Cir. Civ. ); 2023-56-AP-01 (Fla. 11 th Cir. App. ); 2023-CV-23362 (S. D. Fla.); 2025-13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which have been documented in a settlement agreement ("Settlement Agreement"), an amendment to the Lease (the "Fifth Amendment to the Lease"), and an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement"), and an amendment to the Boucher Contract (collectively, the "Settlement Documents") presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Lessee hereby agree to amend the Lease Agreement as follows: 1. ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Lease Agreement. 2. MODIFICATIONS. The Lease Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through January 10, 2027. The Lessor and Lessee have simultaneously executed a Fifth Amendment to the Lease (the "Original Fifth Amendment to Lease") as contemplated by the terms of that certain Settlement Agreement ("Settlement Agreement") dated , 2026 by and among the Lessee, the Lessor and Boucher Brothers Pier Park, LLC ("Boucher"). This alternative version of the Fifth Amendment shall only become effective if by or before September 30, 2026, the Mayor and City Commission of the City of Miami Beach, Florida has not approved an amendment to that certain Concession Agreement for Management and Operation of a High -End Beach Establishment dated October 20, 2023 by and between the Lessor and Boucher resulting in the voiding of the Settlement Agreement and the Original Fifth Amendment to Lease, as which time this alternative Fifth Amendment to Lease shall be immediately effective. In consideration of the City's entering into this alternative Fifth Amendment to Lease despite the voidance of the Settlement Agreement, Penrod agrees to not pursue injunctive relief in the Litigation to permit Penrod to remain on the Property after January 10, 2027 and that it will vacate the Property on or before January 10, 2027. 889 of 1709 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. FOR LANDLORD: ATTEST: 0 Rafael E. Granado, City Clerk Date FOR TENANT: Witnesses: Print Name: Print Name: CITY OF MIAMI BEACH Steven Meiner, Mayor PENROD BROTHERS INC. President Print Name u 1471-0674 `' 890 of 1709 SECOND AMENDMENT TO THE CONCESSION AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. This Second Amendment ("Amendment") to the Concession Agreement dated February 25, 2004 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("City"), and Penrod Brothers, Inc., a Florida corporation ("Penrod" or "Concessionaire", and together with the City, "the parties"), for that portion of Pier Park seaward of the footprint of the Penrod's Restaurant located at One Ocean Drive, Miami Beach, and the beaches seaward thereof (the "Concession Area") is entered into this day of , 20 RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the property located at One Ocean Drive (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25506, approving a Concession Agreement between the City and Penrod for the operation of a concession in the Concession Area consisting of the rental of beach equipment, water recreation equipment and food and beverage service (the "Concession Agreement"); and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657-CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 11th Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025- 13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which will be documented in a settlement agreement ("Settlement Agreement"), an amendment to the Lease (the "Fifth and Final Amendment"), an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement") and an amendment to the Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and 891 of 1709 WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Concessionaire hereby agree to amend the Concession Agreement as follows: ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Concession Agreement. The City and Concessionaire have simultaneously executed an alternative form of this Amendment (the "Alternative Second Amendment to Concession Agreement'). If by or before September 30, 2026, the Mayor and City Commission of the City of Miami Beach, Florida has not approved an amendment to that certain Concession Agreement for Management and Operation of a High -End Beach Establishment dated October 20, 2023 by and between the Lessor and Boucher Brother Pier Park, LLC ("Boucher") as contemplated by that certain Settlement Agreement ("Settlement Agreement') dated , 2026 by and among the Lessee, the Lessor and Boucher resulting in the voidance of the Settlement Agreement, then this Amendment shall be null and void ab initio and the Alternative Second Amendment to Concession Agreement shall be immediately effective. 2. MODIFICATIONS. The Concession Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through August 6, 2027. 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. 892 of 1709 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. FOR LANDLORD: ATTEST: By: Rafael E. Granado, City Clerk Date FOR CONCESSIONAIRE: Witnesses: By: Print Name: Print Name: CITY OF MIAMI BEACH Eric T. Carpenter, City Manager PENROD BROTHERS INC. President Print Name 893 of 1709 SECOND AMENDMENT TO THE CONCESSION AGREEMENT BETWEEN THE CITY OF MIAMI BEACH, FLORIDA AND PENROD BROTHERS, INC. [ALTERATIVE FORM] This Second Amendment ("Amendment") to the Concession Agreement dated February 25, 2004 by and between the City of Miami Beach, Florida, a municipal corporation organized and existing under the laws of the State of Florida, ("City"), and Penrod Brothers, Inc., a Florida corporation ("Penrod" or "Concessionaire", and together with the City, "the parties"), for that portion of Pier Park seaward of the footprint of the Penrod's Restaurant located at One Ocean Drive, Miami Beach, and the beaches seaward thereof (the "Concession Area") is entered into this 301h day of September 2026. RECITALS WHEREAS, on October 2, 1985, the Mayor and City Commission adopted Resolution No. 85-18223, approving a Lease Agreement between the City and Penrod for the development, construction, management and operation of a restaurant facility at the property located at One Ocean Drive (as amended by the First Amendment, Second Amendment and Third Amendment, the "Lease Agreement"); and WHEREAS, on February 25, 2004, the Mayor and City Commission adopted Resolution No. 2004-25506, approving a Concession Agreement between the City and Penrod for the operation of a concession in the Concession Area consisting of the rental of beach equipment, water recreation equipment and food and beverage service (the "Concession Agreement"); and WHEREAS, disputes have arisen between the parties relating to the Property; the Lease Agreement; the Concession Agreement; City Commission Resolutions 2023- 32586, 2023-32612, and 2023-32825; City procurement activity and a City -issued request for proposals RFP 2023-479-KB (the "RFP"); a contract between City and Boucher Brothers Pier Park, LLC ("Boucher") dated October 20, 2023 (the "Contract"); and applications by Boucher and City for land use approvals, variances and permits; including as described in pleadings and papers in lawsuits at Case Nos. 2023-016657-CA-01 (Fla. 11th Cir. Civ.); 2023-56-AP-01 (Fla. 111h Cir. App.); 2023-CV-23362 (S.D. Fla.); 2025- 13415 (11th Cir.), which suits remain pending (the "Litigation") (together, the "Disputes"); and WHEREAS, on March 26, 2026, pursuant to Fla. R. Civ. P. 1.720(d), the parties agreed to the material terms of a settlement of the Disputes reflected in a term sheet executed by the parties (the "Term Sheet"), which have been documented in a settlement agreement ("Settlement Agreement"), an amendment to the Lease (the "Fifth Amendment to the Lease"), an amendment to the Concession Agreement (the "Second Amendment to Concession Agreement") and an amendment to the Contract (collectively, the "Settlement Documents") to be presented to the City Commission for its approval; and WHEREAS, the terms of the Settlement Agreement contemplate a 15- month extension of the term of the Lease Agreement and the Concession Agreement through August 6, 2027; and 894 of 1709 WHEREAS, in order to facilitate the preparation of the Settlement Agreement and the proposed fifteen -month extension, the City Commission, at its April 22, 2026 meeting, approved a short-term extension pursuant to Resolution No. 2026-34212, thereby extending both the Lease and the Concession Agreement through August 31, 2026. WHEREAS, the City Administration has reviewed the proposed Settlement Documents and determined that the settlement, including the Lease Amendment and Concession Amendment, is in the best interest of the City, as it resolves pending litigation, reduces financial and operational uncertainty, and provides continuity of operations at the Premises; and NOW THEREFORE, in consideration of the mutual promises and conditions contained herein, and other good and valuable considerations, the sufficiency of which is hereby acknowledged, the City and Concessionaire hereby agree to amend the Concession Agreement as follows: 1. ABOVE RECITALS. The above recitals are true and correct and are incorporated as part of this Amendment. Capitalized terms used herein and not otherwise defined shall have the same meaning as ascribed to them in the Concession Agreement. 2. MODIFICATIONS. The Concession Agreement is hereby immediately amended to extend the Term and all rights and obligations of the parties thereunder through January 10, 2027. The City and Concessionaire have simultaneously executed a Second Amendment to the Concession Agreement (the "Original Second Amendment to the Concession Agreement") as contemplated by the terms of that certain Settlement Agreement ("Settlement Agreement") dated , 2026 by and among the Lessee, the Lessor and Boucher Brothers Pier Park, LLC ("Boucher"). This alternative version of the Second Amendment shall only become effective if by or before September 30, 2026, the Mayor and City Commission of the City of Miami Beach, Florida has not approved an amendment to that certain Concession Agreement for Management and Operation of a High -End Beach Establishment dated October 20, 2023 by and between the Lessor and Boucher resulting in the voiding of the Settlement Agreement and the Original Second Amendment to Concession Agreement, at which time this alternative Second Amendment shall be immediately effective. In consideration of the City's entering into this alternative Second Amendment to the Concession Agreement despite the voidance of the Settlement Agreement, Penrod agrees to not pursue injunctive relief in the Litigation to permit Penrod to remain on the Property after January 10, 2027. 3. RATIFICATION. Except as amended herein, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event there is a conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall govern. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their appropriate officials, as of the date first entered above. 895 of 1709 FOR LANDLORD: ATTEST: 0 Rafael E. Granado, City Clerk Date FOR CONCESSIONAIRE: Witnesses: By: Print Name: Print Name: CITY OF MIAMI BEACH Eric T. Carpenter, City Manager PENROD BROTHERS INC. President Print Name �14710079 %1 896 of 1709