Agrmt. for Private Development
1532 AUG 11 AM ~ 59 8 2 R I 8 5 6 7 5
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MEMORANDUM OF LEASE AND AGREEMENT FOR PRIVATE DEVELOPMENT
THIS MEMORANDUM OF LEASE AND AGREEMENT FOR PRIVATE
DEVELOPMENT, made and entered into at Miami Beach, Florida, as of the 12th day
of May, 1982, by and between the CITY OF MIAMI BEACH, a municipal corporation,
herein referred to as the "CITY", and REYNOLDS CONSTRUCTION COMPANY, a
Delaware corporation, herein referred to as the "DEVELOPER".
WITNESSETH:
WHEREAS, the CITY and the DEVELOPER have as of the date hereof
entered into a Lease and Agreement for Private Development pertaining to a certain
tract of real property owned by the CITY and located in the City of Miami Beach,
Florida, demis'ed for the purpose of development, construction and operating of hotel,
office and retail complexes thereon; and
WHEREAS, said Lease and Agreement for Private Development is
voluminous, and the parties desire to evidence the same by a short-form Memorandum.
NOW, THEREFORE, in consideration of the premises, as well as other
good and valuable considerations each to the other in hand paid, the parties hereto do
expressly acknowledge and affirm as follows:
1. The CITY and the DEVELOPER have entered into a Lease and
Agreement for Private Development, dated May 12, 1982, demising the property
specifically described on Exhibit "A" attached hereto and by reference made a part
hereof, for an initial term of forty-nine (49) years from the date hereof, in accordance
with all of the terms, provisions, covenants, representations, rental, public charges and
other matters pertaining thereto as is expressly set forth and contained in said Lease
and Agreement for Private Development.
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2. The t~:rTi~, provisions, covcn8nts, r(:pre5entatioTl~, rental, pubjic charges
and 8lJ other matter, ;,(;rtaining to said Le8se and Agreement for Private Development,
as contained therein, hre by reference expressly m8de a part hereof and incorporated
herein.
3. The DEVELOPER has two (2) successive options to renew said Lease
and Agreement for Private Development for twenty-five (25) years each beyond the
date on which it would otherwise expire.
Such options are exercisable by the
DEVELOPER giving written notice of such election to the CITY at least one (J) year
before the expiration of the initial term or the first renewal term, as the case may
be,
4. All parties are chargeable with notice of the existence of said Lease
and Agreement for Private Development and are placed on inquiry as to the terms,
provisions and conditions relating thereto.
IN WITNESS WHEREOF, the parties hereto have caused these presents to
be entered into in their respective names by their duly authorized representatives as
of the day and year first hereinabove set forth.
In the Presence of:
"CITY"
CITY OF MIAMI BEACH
a municipal corporation : (SEAL)
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Mayor --.. .~, .
Attest:.4 ~..,..~/ dJ-ta-t?/,,,,,,= (SEAL)'''''~:''
CIty Clerk I
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DEVELOPER
"DEVELOPER"
REYNOLDS CONSTRUCTION
a Delaware Corporation
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E,XJcU tIve Vice )res,ide, n, t-'7
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Attest: (/,! (0', ,/ / . J( {:,
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STATE OF FLORIDA )
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COUNTY OF DADE )
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THE FOREGOING INSTRUMENT was acknowledged before me this r; L?-~
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day of , 1982, by Norman Ciment and Elaine Matthews, respectively, as Mayor and City
Clerk of the City of Miami Beach, a municipal corporation.
STATE OF NEW YORK )
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COUNTY OF NEW YORK)
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NOT4RY PUBLIC t.-., <(-/ Q....~ ~
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N01AR:'Y PUBLIC STAn OF ~L'_J::IDA A!;t.f-f.vL "" ,..r...-J;' E
MY COMNd~SIOI-J E"PI~S ~i:Pl 71?Z3 0 6' 'q, . :~ 3
BONDW IHKU GI:.i\jtRAL IN). ul\jDl:i<."'i,:r,~"i~.Z .^' .~~ i
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THE FOREGOING INSTRUMENT was acknowledged before me this ;;)....d.."
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May, 1982, by Shmuel Erner and Alan M. Berman, respectively, as Executive Vice
day of
President and Secretary of Reynolds Construction Company, a Delaware corporation.
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~Y @BLlC'-J
(SEAL)
GARY A. GOODMAN
Notary Public. State 01 New York
No. 30.4632143
Qualified in Nassau County ..u.
Commission expires March 30, 19l;S~
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