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Smith & Wollensky Agreementaoo9" ~ 7~7 ~ ., Smith & Wollen Concession Agreement sky INDEX SECTION TITLE 1. TERM ........................................................................................ 2. CONCESSION AREA ............................................................... 2.1 Concession Area .......................................................... 3. USE(S) ...................................................................................... 3.1 Food and Beverage Service ......................................... 3.2 City Business Tax Receipts .......................................... 4. CONCESSION FEES ................................................................ 4,1 Minimum Guarantee (MG) ........................................... 4.2 Percentage of Gross (PG) vs. MG ............................... 4.3 Interest for Late Payment ............................................. 4.4 Sales and Use Tax ....................................................... 5. MAINTENANCE AND EXAMINATION OF RECORDS ............. 6. INSPECTION AND AUDIT ........................................................ 7. TAXES, ASSESSMENTS, AND UTILITIES .............................. 8. EMPLOYEES AND INDEPENDENT CONTRACTORS............ 9. HOURS OF OPERATION ......................................................... 10. IMPROVEMENT, MAINTENANCE, REPAIR and OPERATIO 10.1 Improvements .............................................................. 10.2 Garbage Receptacles ................................................... 10.3 Maintenance/Repair ..................................................... 10.4 No Dangerous Materials ............................................... 10.5 Security ......................................................................... 10.6 Inspection ..................................................................... 11. INSURANCE ............................................................................. 12. INDEMNITY ............................................................................... 12.4 Subrogation .................................................................. 12.5 Force Majeure .............................................................. 12.6 Waiver of Loss from Hazards ....................................... 13. DEFAULT AND TERMINATION ............................................... 13.1 Bankruptcy .............................................:..................... 132 Default in Payment ....................................................... 13.3 Non-Monetary Default .................................................. 13.4 City's Remedies for Concessionaire's Default ............. 13.5 Concessionaire's Remedies for City's Default ............. 13.6 Termination for Convenience/Partial Termination........ 13.7 Surrender of Concession Area ..................................... ~i PAGE ,; ~! ~! ................................ 5 ........ I ~ .......................... 5 ........ ~'~ . ......................... 5 ..L..... ..........:............................... 6 .......................... 6 .......................... 7 ................................ 7 .........'il ................................ 7 ........ '~' ......:....................... 8 ..L. ..........! ............................... 8 ......... ~ :............................... 8 I, ....: ........................... 8 ........ ......................... 9 ........ ~! .......................... 9 ........ '~~ ........................10 ........ .......................11 N.........'...~... .. ;' ........................11 ........ ~~' .......................11 ........ ~ x ........................12 :: ........ ........................12 ........ ~;~ ~ ........................13 ........ .......................14 ........ ' ........................14 ........ ~~ ............................14 ........ .......................15 ........ '' . .......................15 ........ ...........................15 ........ .......................16 ........ ........................16 ........ .......................16 .... ........ .......................16 ........ ' ............................17 ........ ~~ ..:........................17 ..... ~.~.. 17 ......... I :....:........................18 ........ ......................18 2 SECTION 14. 15. 16. 16.2 16.3 17. 18. 19. 20. 20.1 20.2 20.3 21. 21.1 21.2 21.3 21.4 21.5 21.6 21.7 21.8 21.9 21.10 '21.11 21.12 21.13 22. 23. i'~ ~~ I~ TITLE I~, ~ PAGE i~ PERFORMANCE BOND OR ALTERNATE SECURITY ......................'... ~.'........................18 ASSIGNMENT .................................................................. ....:........................19 SPECIAL EVENTS /SPONSORSHIPS ...............................................'....,.......................19 City Special Events ..................................................................~... ~. .. ! ~ .......................19 Sponsorships ...........................................................................'. ' ......................19 NO IMPROPER USE ...........................................................................!... x.'........................20 PRICE SCHEDULES ............................................................................! !, ...................... 20 NOTICES .............................................................................................!...!.~........................20 LAWS ...................................................................................................... ~........................ 21 Compliance ........................................ Equal Employment Opportunity.......... No Discrimination ............................... MISCELLANEOUS .......................................... No Partnership ................................... Modifications ...................................... Complete Agreement ......................... Headings ............................................ Binding Effect ..................................... Clauses .............................................. Severability ......................................... Right of Entry ...................................... Not a Lease ........................................ Signage .............................................. Conflict of Interest .............................. No Waiver .......................................... No Third Party Beneficiary .................. LIMITATION OF LIABILITY ............................. VENUE ............................................................ EXHIBITS Exhibit 2.1 ........................................... Exhibit 5 .............................................. Exhibit 10.2 ......................................... ................................ ' ! ....................... 21 .................................I ...I• ...................... 21 ................................ ! ...................... 21 ................................ ~' ......................21 ..................................' '~'' ......................21 ................................ '' ...................... 21 .................................... ...................... 22 .................................... ' ...................... 22 .................................... ~ ...................... 22 .................................... ~ ! ...................... 22 .................................... ~ ...................... 22 ..... .....................................''........................ 22 .................................... ...................... 22 ....................................'x•'.......................23 ......................................!.'........................ 23 .................................... ...................... 23 ..~ .................................... " ...................... 24 .................................... ~' ...................... 24 •,• ................................ " ...................... 24 ..~.. .................................... ~ ~ ...................... 26 ....................................: I ...................... 27 .:... .................................... ~ ! ...................... 30 ,.. 3 CONCESSION AGREEMENT BETWEEN CITY OF MIAMI BEACH, FLORIDA AND '; 1 WASHINGTON AVENUE CORPORATION FOR MANAGEMENT AND OPERATION OF A FOOD & BEVERAGE CONCESSION IN A PORTION OF SOUTH POINTE PARK THIS AGREEMENT made the 1 st day of October, 2009, between the CIS OF MIAMI BEACH, a municipal corporation of the State of Florida (hereinafter called "City"), having its principal address at 1700 Convention Center Drive, Miami Beach, Florida, 33139, and One WASHINGTON AVENUE CORP., a Florida corporation, having its principal place of business at One Washington Avenue, Miami Beach, Florida, 33139, (d/b/a Smith &Wollensky Restaurant and hereinafter called "Concessionaire"). WITNESSETH WHEREAS, on April 14, 2009, t proposed Concession Agreement beverage concession on a portion Wollensky Restaurant; and ~e Finance and Citywide Projects Committee discussed a with Concessionaire to operate arid manage a food and of South Pointe Park, adjacent to Coincessionaire's Smith & i WHEREAS, the Committee made recommendations to the Administration regarding operational conditions and financial terms; and ii WHEREAS, at its May 13, 2009 meeting, the Mayor and City Commission idiscussed the proposed Concession Agreement and directed the Administration to Conti i ue negotiations with Concessionaire; and WHEREAS, on June 3, 2009, the Mayor and City Commission adopted Resolution No. 2009- 27098, approving an interim agreement to operate the aforestated concession; and the Letter Agreement is scheduled to terminate on September 30, 2009; and WHEREAS, on July 21, 2009, the Finance and Citywide Projects Committee discussed and approved the proposed terms of the concession agreement, such terms which were subsequently approved by the City Commission on September 9, 2009; and WHEREAS, accordingly, the City and Concessionaire have negotiated the following Concession Agreement. ~ ~ NOW THEREFORE, in consideration of the premises and the mutual covenants and conditions herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby conclusively acknowledged, it is agreed by the parties hereto as follows: The City hereby grants to the Concessionaire, and the Concessionaire hereby accepts from the City, the right to maintain, manage and operate a food and beverage concession within the Concession Area (as hereinafter defined), in accordance with the purpose(s) and for the term(s) stated herein, and subject to all the terms and conditions herein contained. 4 SECTION 1. TERM. 1.1 This Agreement shall commence on the 1St day of October, 2009 (the "Commencement Date"), and terminate on the 6t" day of Novi tuber, 2025 (the Term). For purposes of this Agreement, a "contract year" shall be defined as that certain period commencing on the 1St day of October, and ending on the 30t" day of September. It is the intent of the parties hereto that the Term of this Agreement is to run concurrent with the term of that certain Lease Agreement entitled, "South Pointe Park Restaurant Facility between the City of Miami Beach and Specialty Restaurant Corporation (as amended), dated February 8, 1985 (hereinafter, the "Lease Agreement"). ~, If, at any time during the Term of this Concession Agreement, the Lease Agreement is terminated or otherwise ceases to be of any legal force 'and effect, for whatever reason whatsoever, then this Concession Agreement shall automatically terminate, and shall be null and void and of no further force and effect. SECTION 2. CONCESSION AREA. ;~ The City hereby grants to Concessionaire the right, during the Term herein, to maintain, manage and operate a food and beverage concession in the following Concession Area: 2.1 Concession Area: That certain area comprised of approximately 581 square feet, located south of the Smith &Wollensky Restaurant building and south of (and adjacent to) the South Pointe Park public baywalk (which public baywalk is herei ~ after referred to at the "cutwalk", and as further delineated in the sketch attached and incorporated as Exhibit 2.1 hereto. ~ ~ Concessionaire shall have the right to place such number of'~tables and chairs within the Concession Area, subject to approval by the City and compliance with applicable ADA requirements. The currently approved number of tables and chairs, and where they are to be situated within the Concession Area, is also delineated in Exhibit 2.1 hereto. No material change in the approved configuration (or in Exhibit 2.1) shall be permitted without prior written consent of the City Manager) or his designee, which consent (if given at all) shall be at the Manager's (or his designee's) sole and reasonable judgment and discretion. 2.2 Notwithstanding the Concession Area granted to Concessionaire in Section 2.1, Concessionaire hereby agrees and acknowledges that the Concession Area shall be open and available to all members of the general public choosing to enjoy Concessionaire's food and beverage services as patrons of Smith and Wollensky Restaurant., SECTION 3. USE(S). Concessionaire is hereby authorized to conduct the following kind(s) of bus following kind(s) of services within the Concession Area, all at its sole expo 3.1 Food and Beverage Service. ;finesses and provide the Anse and responsibility: 5 3.1.1 Concessionaire shall offer for sale within the Concession Area, such food and beverages which, at a minimum, are consistent with the type and quality of food and beverages prepared and sold at Smith &~ Wollensky Restaurant. However, actual cooking and heating within or on the Concession Area shall not be allowed. ~ ~ 3.1.2 All food and beverages sold or otherwise offered within the Concession Area shall be subject to any and all terms and conditions governing food and beverage service under the Lease Agreement and shall be dispensed only from the Smith &Wollensky Restaurant building. ~ 3.1.3 The City hereby allows Concessionaire the right to serve and sell alcoholic beverages within the Concession Area, but only fort consumption within the Concession Area, and further subject to Concessionaire's compliance, at all times, with whatever restrictions and/or regulations are (or may be) imposed by the State of Florida, Miami-Dade County, and/or ithe City, with respect to the dispensing and sale of alcoholic beverages (including, without limitation, alcoholic beverage license requirements). Notwithstanding the preceding sentence, all alcoholic beverages shall be dispensed only from the Smith & Wollensky Restaurant building, and Concessionaire ;shall not be permitted to erect or maintain upon the Concession Area, any permanent or temporary structure and/or area (i.e. bars, mini bars, etc.) for the dispensing or sale of alcoholic beverages. ~I 3.1.4 In addition to Concessionaire's general maintenance obligations, as set forth in Section 10 hereof, the Concession Area, and the immediately surrounding twenty five (25) foot adjacent areas, shall at all times be maintained in a clean and sanitary manner; provided however that any obligations to pressure clean the area shall be as set forth in Section 10.2 hereof.. ~~ 3.1.5 Food and beverage service shall be offered daily to patrons at all times during the Concession Area hours of operation, as set forth in Section 9 hereof. 3.1.6 Concessionaire agrees not to place any speakers, orany other device used to amplify sound, in, on or around the Concession Area. Furthermore, Concessionaire shall in no manner use the Concession Area, or the Smith & Wollensky Restaurant building, as an outdoor entertainment or open air entertainment establishment, and hereby acknowledges that such uses are prohibited (whether as main or accessory uses). Concessionaire shall, at all times, adhere to the City of Miami Beach Noise Ordinance, as same may be amended from time to time. 3.1.7 3.1.7.1 Concessionaire shall, to the reasonable satisfaction of the City Manager or his designee, maintain the cutwalk free from obstructions at all times during its operations on the Concession Area, by implementing all of the following measures: Identify a queuing area for patrons and provide (at its sole cost and expense) staff to use reasonable efforts to maintain the cutwalk clear of 6 I i i patrons waiting for seating. Benches will be and southwest corners of the Smith & Wolle 3.1.7.2 Provide signage advising patrons that they sh' cutwalk; and ', j 3.1.7.3 Provide stanchions and/or other appropriate b area where patrons can wait for a table. 3.2 City Business Tax Receipts. Concessionaire shall obtain, at its sole expense and respor receipts required by the City for the proposed use(s) cont~ extent required by City law (as same may be amended fror tax receipts shall be obtained for each proposed use within Area. SECTION 4. CONCESSION FEES. 4.1 Minimum Guarantee (MG): In consideration of the City's granting of the rights prov Concessionaire agrees to pay the City a Minimum Guaran Fee (MG) of Eighty Thousand ($80,000.00) Dollars, payabl of Six Thousand Six Hundred Sixty Six Dollars ($6,666.6 Minimum Guarantee" or "MMG"). The MMG shall be due an of each month throughout the Term of this Agreement. ed on the southeast Restaurant building; Id remain clear of the s) to demarcate an ~ibility, any business tax mplated herein. To the time to time), business ~ particular Concession ed in this Agreement, ed Annual Concession in monthly installments and 67/100 ("Monthly payable on the first day Commencing with the fifth (5t") contract year (i.e. October 1, 2014), Concessionaire agrees that the MG (and corresponding MMG) shall be increased to One Hundred Thousand ($100,000.00) Dollars annually, payable in monthly installments of Eight Thousand Three Hundred Thirty Three ($8,333.33) Dollars and 33/100. Commencing with the tenth (10t") contract year (i.ei.i October 1, 2019), Concessionaire further agrees that the MG (and corresponding MMG) shall be increased to One Hundred Twenty Thousand ($120,00000) Dollars annually, payable in monthly installments of Ten Thousand ($10,000; I00) Dollars. Commencing with the fifteenth (15t") contract year (i.e. October 1, 2024), Concessionaire agrees that the MG (and corresponding MMG) shall be increased to One Hundred Forty Thousand ($140,000.00) Dollars annually, payable in monthly installments of Eleven Thousand Six Hundred Sixty Six ($11,666.67) Dollars and 67/100. 4.2 Percentage of Gross (PG) vs. MG: For each contract year during the Term, in the event that the amount equal to ten (10%) percent of Concessionaire's gross receipts (PG) exceeds the MG amount, then Concessionaire shall also pay to the City the difference between the PG amount and the MG amount, which payment shall be received no later than thirty (30) days after the end of each contract year. j The term "gross receipts" is understood to mean all income, whether collected or 7 accrued, derived by Concessionaire under this Agreement, or any licensee, sub- concessionaire, orsub-tenant, as Concessionaire, from all business conducted upon or from the Concession Area, including but not limited to receipts from sale of food, beverages, and alcoholic beverages. The term "gross receipts" shall exclude amounts of any Federal, State, or City sales tax, or other tax, governmental imposition, assessment, charge or expense of any kind, collected by the Concessionaire from customers and required by law to be remitted to the taxing or other governmental authority. I, ~ 4.3 Interest for Late Payment. Any payment which Concessionaire is required to make to the City which is not paid on or before the respective date provided for in this Agreement shall be subject to interest at the rate of twelve (12%) percent per annum, o ~ the maximum amount allowable under Florida law, whichever is greater, from the due date of payment until such time as payment is actually received by the City. j i 4.4 Sales and Use Tax. It is also understood that the required Florida State Sales and Use Tax shall be added to Concessionaire's payments and forwarded to the City as part of said payments. It is the City's intent that it is to receive all payments due from Concessionaire as net of such Florida State Sales and Used Tax. SECTION 5. MAINTENANCE AND EXAMINATION OF RECORDS. ~~ Concessionaire shall maintain current, accurate, and complete financial j records, on an accrual basis, related to its operations pursuant to this Agreement. System's and procedures used to maintain these records shall include a system of internal controls; all accounting records shall be maintained in accordance with generally accepted accounting principles; and shall be open to inspection, copying, and audit by the City Manager or his designee ;upo,n reasonable verbal or written notice, during normal hours of operation. Concessionaire shall maintain all such records at its principal office, currently located at One Washington Avenue, Miami~Beach, Florida, 33139, or, if moved to another location, all such records shall be relocated, at Concessionaire's sole expense, to a location in Miami Beach, within ten (10) days from notice of request for inspection from the City. Such records and accounts shall include, at a minimum, a breakdown of gross receipts, expenses, and profit and loss statements. Concessionaire shall maintain accurate receipt-printing cash registers (or a like alternative) for the Concession Area which will record acid show the payment for every sale made or service provided in such Area. Such other records shall be maintained as would be required by an independent CPA in order to audit a statement of annual gross receipts and profit and loss statement pursuant to generally accepted accounting principles. Concessionaire records shall also be maintained for a period of three (3) years following expiration ~(or other termination) of this Agreement (regardless of whether such termination results from the expiration of the Term or for any other reason). ~ A monthly report of gross receipts must be submitted to the City Finance; Department's Revenue Manager, no later than thirty (30) days after the close of each month during the Term herein. Concessionaire shall submit to the City Finance Department's Revenue Manager, within sixty (60) days of the end of each contract year, an annual statement of gross receipts, along with any payment required pursuant to Section 4.2 herein, in a form consistent with generally accepted accounting principles. Additionally, within one hundred twenty (120) days of the end of each s contract year, a report applying agreed-upon procedures shall be submitted to the City Finance Department's Revenue Manager, such statement shall be accompanied by a report from an independent CPA firm which shall perform certain agreed upon procedures, as described in Exhibit 5, attached hereto. SECTION 6. INSPECTION AND AUDIT. The City Manager or his designee shall be entitled to audit Concessio throughout the Term, and three (3) times within the three (3) year pei other termination) of this Agreement. The City shall be responsible for with such audit(s), unless the audit(s) reveals a deficiency of five Concessionaire's statement of gross receipts for any year or yea Concessionaire shall pay to the City, within thirty (30) days of the City cost of the audit and a sum equal to the amount of the deficiency i interest. These audits are in addition to periodic City audits of Resort T< (which are performed separately). It is Concessionaire's intent to stay informed of comments and sugg~ Concessionaire's performance under the Agreement. Within thirty (3~ contract year, Concessionaire and the City may meet to review Cc under the Agreement for the previous contract year. At the meeting, may discuss quality, operational, maintenance and any other issues performance under the Agreement. Nothing contained within this Section shall preclude the City's audit rig purposes. SECTION 7. TAXES, ASSESSMENTS, AND UTILITIES. Concessionaire agrees and shall pay, before delinquency, all taxes ar (including, without limitation, ad valorem taxes, if assessed, and/c assessed upon Concessionaire and/or the Concession Area including, taxes and/or assessments that maybe levied and/or assessed againsl Concession Area by reason of this Agreement, or by reason of the bi and/or activities of Concessionaire upon or in connection with the Coi Concessionaire will have the right, at its own expense, to contest the a in part, of any tax and/or assessment by appropriate proceedings, conduct diligently and continuously, in good faith. Concessionaire may the extent it is contesting the imposition of same in a manner that provided, however, if, as a result of such contest, additional delinqu Concessionaire shall be responsible for such delinquency charges, it contested tax (if so ordered). The Concession Area is currently not serviced by any utilities. Con responsible for and shall promptly pay when due all charges for gas, elE telephone, trash collection, and any other utility service provided to the without limitation, all hook-up fees and impact fees. In addition to hereinafter reserved to the City, upon the failure of Concessionaire to when due, the City may elect to pay same and Concessionaire shall 1 upon demand. In no event shall the City be liable, whether to Concessi na ''s records once a year following expiration (or ing all costs associated io) percent or more in audited, in which case ~ning the audit final, the aled by the audit, plus ~Ilections and payments is by the City regarding /s after the end of each sionaire's performance essionaire and the City rding Concessionaire's Resort Tax collection essments of any kind sort Taxes) levied or ut limitation, any such essionaire and/or the s or other operations on Area. it or validity, in whole or i Concessionaire shall yin from paying a tax to accordance with law; charges become due, ition to payment of the >ionaire shall be solely ;ity, water, sewer, cable, cession Area, including, 'r rights and remedies for such utility services tptly reimburse the City re or to third parties, for 9 an interruption or failure in the supply of any utilities services to the Concession Area. SECTION 8. EMPLOYEES AND INDEPENDENT CONTRACTORS. ~ 8.1 Concessionaire shall select, train, employ (or otherwise hire or retain) such number of employees and/or independent contractors as is necessary and appropriate for Concessionaire to satisfy its responsibilities hereunder, and as necessary to maintain the same levels of service as exist in similar first clas's concession facilities and operations. Concessionaire's employees and/or independent contractors shall be employees and/or independent contractors of Concessionaire and not of the City, and Concessionaire shall be solely responsible for thei ~ supervision and daily direction and control. Concessionaire shall be solely responsible for, and have the sole authority to hire, terminate and discipline any 'and all personnel and/or contractors employed or retained by Concessionaire. i 8.2 Concessionaire and its employees and/or independent ;contractors shall wear identification badges and uniforms approved by the City during all hours of operation. The S&W Restaurant uniforms currently worn by Concessionaire's employees shall satisfy the preceding requirement. All employees and/or independent contractors shall observe all the graces of personal grooming. Concessionaire shall hire people to work in its operation who are neat, clean, well groomed, and 'comport themselves in a professional and courteous manner. Concessionaire and any persons hired and/or retained by Concessionaire shall never have been convicted of a felony. Concessionaire shall have an experienced manager o ~ managers overseeing the concession operations at all times. , j SECTION 9. HOURS OF OPERATION. The Concession Area shall operate only during hours of "active operation"~ of the adjacent Smith & Wollensky Restaurant building, weather or events of force majeure permitting (the term "active operation" being defined as when the full kitchen is in operation and a full restaurant menu is being served). Concessionaire's hours of operation shall be: I Sunday through Thursday: 11:30 AM to 12:00 AM; Friday through Saturday: 12:00 PM to 2:00 AM. Any change in the hours of operation including, without limitation, any~request by Concessionaire for an increase or decrease in same, shall be subject to the prior written approval of the City Manager or his designee, which approval, if granted at all, shall be at the City Manager's (or his designee's) sole option and discretion. ~ ~ SECTION 10. IMPROVEMENTS MAINTENANCE. REPAIR and OPERATION Concessionaire accepts the use of the Concession Area in its "AS 15" `WHERE IS" condition. Concessionaire assumes sole responsibility and expense for maintenance of the Concession Area (including all furniture, fixtures, equipment and any other improvements~the~eon). This shall include, without limitation, daily (i.e. 365 days) removal of litter, garbage and debris. Concessionaire shall also be responsible for all garbage disposal generated by its operations. 10.1 Improvements. 10.1.1 Any improvements to the Concession Area shall be at Concessionaire's sole expense and responsibility; provided, however that any plans for such 10 improvements shall be submitted to the City Manager or his designee for prior written approval. Upon termination and/or expiration of this Agreement, all personal property and non-permanent trade fixtures may be removed by Concessionaire without causing damage to the Concession Area. All permanent (fixed) improvements to the Concession Area shall remain the property of the City upon termination and/or expiration of this Agreement, except as provided in Subsection 10.1.2. j Concessionaire will permit no liens to attach to the Concession Area arising from, connected with, or related to, the design, construction, and installation of any improvements. ~i i Construction of any approved improvements shall be diligently prosecuted to completion and accomplished through the use of licensed, reputable contractors who are acceptable to the City Manager or his designee. In addition to obtaining the prior approval of the City Manager or his designee (acting on behalf of the City, in a proprietary capacity), Concessionaire shall also be solely responsible for obtaining, at its sole~cost and expense, any and all permits, licenses, and/or regulatory approvals; such regulatory approvals which may include, without limitation, land use board and/or the approvals of other required regulatory agencies having jurisdiction) required for the construction of improvements. 10.1.2 Notwithstanding Subsection 10.1.1 hereof, upon termination and/or expiration of this Agreement, and at the City Manager or his designee's sole option and discretion, Concessionaire shall, if so directed, immediately remove any permanent improvements made to the Concession Area during the Term, upon demand by the City Manager or his designee, at Concessionaire's sole expense and responsibility. In such event, Concessionaire shall also restore the Concession Area to its original condition priorto the improvements being made, reasonable wear and tear excepted. j 10.1.3 The above requirements for submission of plans and the use of specific contractors shall not apply to improvements (which term, for purposes of this subsection 10.1.3 only, shall also include improvements necessary for Concessionaire's ongoing maintenance and repair of the Concession Area) which do not exceed Five Hundred ($500.00) Dollars; provided that the work is not structural, and provided further that it is permitted by applicable law. 10.2 Garbage Receptacles. With respect to litter, garbage and debris removal, Concessionaire shall provide, at its sole expense, a sufficient number of trash receptacles fo ~ its own use and for the use of its patrons. Determination of the "number" of receptacles shall at all times be within the City Manager or his designee's sole discretion. Disposal of the contents of said receptacles (and removal of litter, garbage and debris within the Concession Area), shall be done on a daily (i.e. 365 days) basis. Any costs for removal of the contents of said trash receptacles by the City, because of the Concessionaire's failure to do so, will be assessed to, and become the responsibility of, the Concessionaire. 11 The dumping or disposal of any refuse, discards, trash or garbage, generated by, or as a result of Concessionaire's operations, into any of the South Pointe Park trash receptacles shall be strictly prohibited. Concessionaire shall clean and maintain the portion of the cutwalk between the Smith & Wollensky Restaurant building and the Concession Area, which shall include, without limitation, daily cleaning, litter control, and pressure cleaning (as per the minimum specifications provided by the City in Exhibit 10.2 hereto). In addition to the Concessionaire's general maintenance obligations for the Concession Area, the Concessionaire shall maintain, at all times, the immediately surroundingtwenty-five (25) foot adjacent areas, in a clean and sanitary manner, and in a manner consistent with the maintenance standards set forth for the cutwalk and other adjacent park areas. 10.3 Maintenance/Repair. Concessionaire shall maintain, at its sole expense and responsibility, all furniture, fixtures, and equipment (FFE) and any other improvements. (whether permanent or not) required to operate the concession. In the event any FFE and/or other improvement(s) is lost, stolen, or damaged, it shall be replaced or repaired promptly, at the sole expense of Concessionaire. 10.3.1 All damage or injury of any kind to the Concession Area, and/or to any improvements and/or FFE thereon, except damage caused by the willful misconduct or gross negligence of the City, shall be the sole obligation of Concessionaire, and shall be repaired, restored and/or replaced promptly by Concessionaire, at its sole expense, to the satisfaction of the City Manager or his designee. 10.3.2 All of the aforesaid repairs, restoration and replacement shall be in quality and class equal to or better than the original work (or FFE, as the case may be) and shall be done in good and workmanlike manner. 10.3.3 If Concessionaire fails to make any repairs, restoration and/or replacement, the same maybe made by the City, at the expense of Concessionaire, and all sums spent and expenses incurred by the City shall be collectable by the City and shall be paid by Concessionaire within ten (10) days after receipt of a bill or statement thereof. Notwithstanding that the City may elect to make such repairs, restoration, and/or replacement, the City shall have no obligation and/or affirmative duty to do so. 10.3.4 It shall be Concessionaire's sole obligation to ensure that any renovations, repairs and/or improvements made by Concessionaire to the Concession Area comply with all applicable permitting, building codes and life safety codes of governmental authorities having jurisdiction. 10.4 No Dangerous Materials. Concessionaire agrees not to use or permit in the Concession Area the storage and/or use of gasoline, fuel oils, diesel, illuminating oils, oil lamps, combustible i 12 ', powered electricity producing generators, turpentine, benzene, naphtha, propane, natural gas, or other similar substances, combustible materials, or explosives of any kind, or any substance or thing prohibited in the standard policies of fire insurance companies in the State of Florida. Any such substances or materials found within the Concession Area shall be immediately removed. The parties agree that the use of candles is permitted in the Concession Area. Inconsideration of a separate and specific consideration'of Ten ($10.00) Dollars and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Concessionaire shall indemnify and hold the City harmless from any loss, damage, cost, or expense of the City, including, without limitation, reasonable attorney's fees, incurred as a result of, arising from, or connected with the placement by Concessionaire of any "hazardous substance" or "petroleum products" on, under, in or upon the Concession Area as those terms are defined by applicable Federal and State statutes, or any environmental rules and environmental regulations promulgated thereunder. The provisions of this subsection 10.4 shall survive the termination or earlier expiration of this Agreement. 10.5 Security. Concessionaire shall be responsible for and provide such security measures as it deems necessary in its reasonable judgment and discretion to protect the Concession Area and any improvements and FFE thereon. Under no circumstances shall the City be responsible for any stolen or damaged,FFE; damage to or loss of any improvements; or any stolen, lost, or damaged personal property of Concessionaire's employees, contractors, patrons, guests, invitees, and/or any other third parties. 10.6 Inspection. Concessionaire agrees that the Concession Area (and operations thereon) may be inspected at any time during hours of operation by the City Manager or his designee, or by any other municipal, County or State officer,' or other agency having responsibility and/or jurisdiction for inspection of such operations. Concessionaire hereby waives all claims against the City for compensation for loss or damage sustained by reason of any interference with the concession operations, whether by the City or by any public agency or official, in enforcing their respective duties, or enforcing compliance with any applicable laws, or ordinances, or regulations. The City Manager, or his designee, shall make reasonable efforts during city inspections of the concession area to minimize any disruption to the business being conducted in the Concession Area. SECTION 11. INSURANCE. Concessionaire shall maintain, at all times throughout the Term, ~I at its sole expense and responsibility, the following types of insurance coverage: a. Comprehensive General Liability, in the minimum ;amount of One Million ($1,000,000.00) Dollars (subject to adjustment for inflation) per occurrence for bodily injury and property damage. This policy must also contain coverage for premises operations, products and contractual liability. b. Workers Compensation Insurance shall be required in accordance with the laws of the State of Florida. 13 c. Automobile Insurance shall be vehicles and non-ownership liab adjustment for inflation): Bodily Injury Bodily Injury Property Damage provided covering all owned, leased, and hired ility for not less than the following limits (subject to $1,000,000.00 per person $1,000,000.00 per accident $1,000,000.00 per accident The policies of insurance referred to above shall not be subject to cancellation or changing coverage except upon at least thirty (30) days prior written notice to the City, and then only subject to the prior written approval of the City Manager or his designee. Prior to the Commencement Date of this Agreement, Concessionaire shall provide the City with a Certificate of Insurance for each such policy. ALL POLICIES SHALL NAME THE CITY OF MIAMI BEACH FLORIDA AS AN ADDITIONAL NAMED INSURED. All such policies shall be obtained from companies authorized to do business in the State of Florida with an A.X. or better rating in Best's Insurance Guide (latest edition), and any replacement or substitute company shall also be subject to the approval of the City. Should Concessionaire fail to obtain, maintain or renew the policies of insurance referred to above, in the required amounts, the City may, at its sole discretion, obtain such insurance, and any sums expended by the City in obtaining said insurance, shall be repaid by Concessionaire to the City, plus ten (10%) percent of the amount of premiums paid to compensate the City for its administrative costs. If Concessionaire fails to repay the City's expenditures following written demand from the City (and within the time specified in the City's demand notice), such failure shall be deemed an event of default hereunder and the total sum owed shall accrue interest at the rate of twelve (12%) percent until paid. SECTION 12. INDEMNITY. 12.1 In consideration of a separate and specific consideration of Ten ($10.00) Dollars and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Concessionaire shall indemnify, hold harmless and defend the City, its officers, employees, contractors, agents or servants from and against any claim, demand or cause of action of whatsoever kind or nature arising out of error, omission, or negligent act of Concessionaire, its officers, employees, contractors, agents or servants in the performance of services under this Agreement. 12.2 In addition, and in consideration of a separate and specific consideration of Ten ($10.00) Dollars and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Concessionaire shall indemnify, hold harmless and defend the City, its officers, employees, contractors, agents or servants from and against any claim, demand or cause of action of whatever kind or nature arising out of any misconduct of Concessionaire, its officers, employees, contractors, subconcessionaire(s), agents or servants not included in Subsection 12.1 herein and for which the City, its officers, employees, contractors, subconcessionaire(s), agents or servants are alleged to be liable. 12.3 Subsections 12.1 and 12.2 shall survive the termination or expiration of this Agreement. Subsections 12.1 and 12.2 shall not apply, however, to any such liability, that arises as a result of the willful misconduct or gross negligence of the City, its officers, employees, contractors, agents or servants. 14 12.4 Subro ation. The terms of insurance policies referred to in Section 11 shall preclude subrogation claims against Concessionaire, the City and their respective officers, employees, contractors, agents or servants. 12.5 Force Majeure. Whenever a period of time is herein prescribed for the taking of any action by the City or Concessionaire (as applicable), the City or Concessionaire (as applicable), shall not be liable or responsible for, and there shall be excluded from the computation of such period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, or governmental laws, regulations, or restrictions in the nature of a prohibition or moratorium, or any bona fide delay beyond the reasonable control of City or Concessionaire (as applicable). The foregoing shall not apply to any payments of money due under this Agreement. 12.6 Waiver of Loss from Hazards. Concessionaire hereby expressly waives all claims against the City for loss or damage sustained by the Concessionaire resulting from an event of Force Majeure (as defined herein), and the Concessionaire hereby expressly waives all rights, claims, and demands against the City and forever releases and discharges the City from all demands, claims, actions and causes of action arising from any of the aforesaid causes. SECTION 13. DEFAULT AND TERMINATION. Subsections 13.1 through 13.3 shall constitute events of default underthis Agreement. An event of default by Concessionaire shall entitle the City to exercise any and all remedies described as the City's remedies under this Agreement, including but not limited to those set forth in Subsection 13.4 and Section 14. An event of default by the City shall entitle Concessionaire to exercise any and all remedies described as Concessionaire's remedies under this Agreement, including but not limited to those set forth in Subsection 13.5. 13.1 Bankruptcy. If either the City or Concessionaire shall be adjudged bankrupt or insolvent, or if any receiver or trustee of all or any part of the business property of either party shall be appointed, or if any receiver of all or any part of the business property shall be appointed and shall not be discharged within sixty (60) days after appointment, or if either party shall make an assignment of its property for the benefit of creditors, or shall file a voluntary petition in bankruptcy, or insolvency, or shall apply for reorganization or arrangement with its creditors under the bankruptcy or insolvency laws now in force or hereinafter enacted, Federal, State, or otherwise, or if such petitions shall be filed against either party and shall not be dismissed within sixty (60) days after such filing, then the other party may immediately, or at any time thereafter, and without further demand or notice, terminate this Agreement without being prejudiced as to any remedies which may be available to it for breach of contract. 13.2 Default in Payment. In the event Concessionaire fails to submit any payment within five (5) days of its due date, there shall be a late charge of Fifty ($50.00) Dollars per day for such late payment, in addition to interest at the highest rate allowable by law. If any payment and accumulated penalties are not received within fifteen (15) days afterthe payment 15 due date, and such failure continues three (3) days after written notice thereof, then the City may, without further demand or notice, terminate this Agreement without being prejudiced as to any remedies which may be available to it for breach of contract, and may begin procedures to collect the Performance Bond required in Section 14 herein. 13.3 Non-Monetary Default. In the event that Concessionaire or the City fails to pertorm or observe any of the covenants, terms or provisions under this Agreement, and such failure continues thirty (30) days after written notice thereof from the other party hereto, such non- defaulting party may immediately or at any time thereafter, and without further demand or notice, terminate this Agreement. In the event that a default is not reasonably susceptible to being cured within such period, the defaulting party shall not be considered in default if it shall, within such period, commence with due diligence and dispatch to cure such default and thereafter completes with dispatch and due diligence the curing of such default, but in no event shall such extended cure period exceed ninety (90) days from the date of written notice thereof. In the event Concessionaire cures any default pursuant to this subsection, it shall promptly provide the City with written notice of same. 13.4 City's Remedies for Concessionaire's Default. If any of the events of default, as set forth in this Section, shall occur, the City may, after notice (if required) and the expiration of cure periods, as provided above, at its sole option and discretion, institute such proceedings as in its opinion are necessary to cure such default(s) and to compensate the City for damages resulting from such default(s), including but not limited to the right to give to Concessionaire a notice of termination of this Agreement. If such notice is given, the Term of this Agreement shall terminate upon the date specified in such notice from the City to Concessionaire. On the date so specified, Concessionaire shall then quit and surrender the Concession Area to the City pursuant to the provisions of Subsection 13.7. Upon the termination of this Agreement by the City, all rights and interest of Concessionaire in and to the Concession Area and to this Agreement, and every part thereof, shall cease and terminate and the City may, in addition to any other rights and remedies it may have, retain all sums paid to it by Concessionaire under this Agreement, including but not limited to, beginning procedures to collect the Performance Bond in Section 14 herein. In addition to the rights set forth above, the City shall have the rights to pursue any and all of the following: a. the right to injunction or other similar relief available to it under Florida law against Concessionaire; and/or b. the right to maintain any and all actions at law or suits in equity or other proper proceedings to obtain damages resulting from Concessionaire's default. 13.5 Concessionaire's Remedies for City's Default If an event of default, as set forth in this Section, by the City shall occur, Concessionaire may, after the expiration of the cure period, terminate this Agreement upon written notice to the City. Said termination shall become effective upon receipt of the written notice of termination by the City. On the date specified in the notice, 16 Concessionaire shall quit and surrender the Concession Area to the City pursuant to the provisions of Subsection 13.7. 13.6 Termination for Convenience. 13.6.1 Notwithstanding any other provision of this Section 13, this Agreement may be terminated, in whole or in part, by the City, for convenience and without cause, upon the furnishing of sixty (60) days prior written notice to Concessionaire. 13.6.2 In the event of termination by the City pursuant to this subsection, Concessionaire herein acknowledges and agrees that it shall not have any claim, demand, or cause of action of whatsoever kind or nature, against the City, its agents, servants and employees (including, but not limited to, claims for any start-up costs, interference in business or damages for interruption of services, or interference in its concession operations). In no event shall the City be liable to Concessionaire for any indirect, incidental, special, lost profits or consequential damages. 13.7 Surrender of Concession Area. At the expiration of this Agreement, or earlier termination in accordance with the terms of this Agreement, Concessionaire shall surrender the Concession Area in the same condition as the Concession Area was prior to the Commencement Date of this Agreement, reasonable wear and tear excepted. Concessionaire shall remove all its personal property, upon forty-eight (48) hours written notice from the City Manager or his designee unless a longer time period is agreed to by the City. Concessionaire's obligation to observe or perform this covenant shall survive the expiration or other termination of this Agreement. Continued occupancy of the Concession Area after termination of the Agreement shall constitute trespass by the Concessionaire, and may be prosecuted as such. In addition, the Concessionaire shall pay to the City One Thousand ($1,000.00) Dollars per day as liquidated damages for such trespass and holding over. SECTION 14. PERFORMANCE BOND OR ALTERNATE SECURITY Concessionaire shall, on or before the Commencement Date of this Agreement, furnish to the City Manager or his designee a Performance Bond in the penal sum as stated below for the payment of which Concessionaire shall bind itself for the faithful performance of the terms and conditions of this Agreement. A Performance Bond, in the amount of Forty Thousand ($40,000.00) Dollars, shall be required and be in faithful observance of this Agreement. A cash deposit, irrevocable letter of credit, or certificate of deposit may also suffice, as determined by the City Manager or his designee in his reasonable discretion. The form of the Performance Bond or letter of credit shall be as required by the City Manager or his designee. In the event that a Certificate of Deposit is approved, it shall be a Forty Thousand ($40,000.00) Dollar one-year Certificate of Deposit in favor of the City, which shall be automatically renewed, the original of which shall be held by the City's Chief Financial Officer. Notwithstanding the preceding paragraph, and as permitted within this Section 14, the City Manager hereby agrees to accept alternate security to guarantee Concessionaire's compliance and performance under the terms of this Agreement, in the form of a cash deposit, in the amount of $40,000 (the Security), that is net of the MMG payment to the City by Concessionaire during the 17 first quarter of the first contract year. In the event that the net product of the MMG payments the first quarter of the first contract year does not result in the payment of the $40,000 Security to the City, then Concessionaire shall be required, within fifteen (15) calendar days of written demand from the City, to remit the cash balance, as required to maintain the full $40,000 amount of the Security. Failure by Concessionaire to do so within the time provided shall be considered an event of default under this Agreement. Concessionaire shall be so required to maintain the Security in full force and effect throughout the Term of this Agreement. Concessionaire shall have an affirmative duty to notify the City, in writing, in the event said Security lapses or otherwise expires. All interest that accrues in connection with any financial instrument or sum of money referenced above shall be the property of Concessionaire and paid by the City to Concessionaire not less frequently than annually, upon written request for such payment submitted to the City by the Concessionaire, except in an event of default, in which case the City shall be entitled to all interest that accrues after the date of default. In the event the Concessionaire requests that in lieu of the Security it wishes to elect to furnish a Performance Bond or such other Alternate Security as may be permitted herein, then Concessionaire shall make a written request to the City Manager, and such Performance Bond or Alternate Security steal! be subject to his or her prior written approval. SECTION 15. ASSIGNMENT. Concessionaire shall not assign, sublease, grant any sub-concession or license, permit the use of by any other person or entity other than Concessionaire, or otherwise transfer all, or any portion of, this Agreement and/or of the Concession Area. SECTION 16. SPECIAL EVENTS /SPONSORSHIPS. 16.1 The parties agree and acknowledge that Concessionaire's proposed use(s), as defined in Section 3 hereof, do not contemplate nor allow the production, promotion or sponsorship by the Concessionaire of special events in or around the Concession Area. 16.2 City Special Events. Notwithstanding Subsection 16.1 herein, and in the event that the City, at its sole discretion, deems that it would be in the best interest of the City, the City reserves the right to displace the Concessionaire for City produced and/or sponsored special events and/or City produced and/or sponsored productions, Additionally, the aforestated events may also require additional time for load-in and load-out of the event. In such cases, the City may request that Concessionaire cease and desist operations during the term of, and in the area of, the special event and/or production, and Concessionaire shall cease and desist during such time. If the Concessionaire is not required to close, or the City Manager or his designee determines that Concessionaire may remain open in such a manner as prescribed by the City, that will not interfere with the special event and/or production, Concessionaire shall use its best efforts, in either case, in cooperating with the City, If Concessionaire is allowed to remain open during special events and/or productions, Concessionaire may be allowed to have in operation its normal daily complement of equipment and staff. "Normal" shall be defined as equipment and staff that the Concessionaire customarily has available to service its patrons within the Concession Area on a normal business day (during its hours of operation). 18 16.3 Sponsorships. The City reserves unto itself all present and future rights to negotiate all forms of endorsement and/or sponsorship agreements based on the marketing value of any City trademark, property, brand, logo and/or reputation. Any and all benefits derived from an endorsement and/or sponsorship agreement based on the marketing value of a City trademark property, brand, logo and/or reputation, shall belong exclusively to the City. Concessionaire shall be specifically prohibited from entering into, or otherwise creating any, sponsorships and/or endorsements with third parties which are based solely or in any part on the marketing value of a City trademark, property, brand, logo and/or reputation. SECTION 17. NO IMPROPER USE. Concessionaire will not use, nor suffer or permit any person to use in any manner whatsoever, the Concession Area for any illegal activity or conduct, or for any act and/or purpose in violation of any Federal, State, County, or municipal ordinance, rule, order or regulation, or of any governmental rule or regulation now in effect or hereafter enacted or adopted. Concessionaire will protect, indemnify, and forever save and keep harmless the City, its ofhcers, employees, contractors, agents or servants, from and against damage, penalty, fine, judgment, expense or charge suffered, imposed, assessed or incurred for any violation, or breach of any law, ordinance, rule, order or regulation occasioned by any act, neglect or omission of Concessionaire, or any of its officers, employees, contractors, agents or servants. In the event of any violation by Concessionaire, the City Manager or his designee shall have the right to suspend the concession operations should the Concessionaire fail to correct any such violation, conduct, or practice to the satisfaction of the City Manager or his designee within twenty-four (24) hours after receiving written or verbal notice of the nature and extent of such violation, conduct, or practice; such suspension to continue until the violation is cured. Concessionaire further agrees not to commence operations during the suspension until the violation has been corrected to the satisfaction of the City Manager or his designee. SECTION 18. PRICE SCHEDULES. Intentionally Omitted. SECTION 19. NOTICES. All notices from the City to Concessionaire shall be deemed duly served upon receipt, if mailed by registered or certified mail with a return receipt to Concessionaire at the following addresses: Mark H. DeBlois, Chairman C/O Bunker Hill Capital 260 Franklin Street, Suite 1860 Boston, MA 02110 With copies to: General Manager Smith & Wollensky Restaurant One Washington Avenue Miami Beach, FL 33139 All notices from Concessionaire to the City shall be deemed duly served upon receipt, if mailed by registered or certified mail return receipt requested to the City of Miami Beach at the following addresses: City Manager City of Miami Beach 19 1700 Convention Center Drive Miami Beach, FL 33139 With copy to: Director of Real Estate, Housing & Community Development City of Miami Beach 1700 Convention Center Drive Miami Beach, FL 33139 Concessionaire and the City may change the above mailing addresses at any time upon giving the other party written notification. All notices under this Agreement must be in writing. SECTION 20. LAWS. 20.1 Compliance. Concessionaire shall comply with all applicable City, County, State, and Federal ordinances, statutes, rules and regulations (including but not limited to all applicable environmental City, County, State, and Federal ordinances, statutes, rules and regulations, as same may be amended from time to time. 20.2 Equal Employment Opportunity, Neither Concessionaire nor any affiliate of Concessionaire performing services hereunder, or pursuant hereto, will discriminate against any employee or applicant for employment because of race, sex, sexual orientation, color, creed, national origin, familial status, religion or handicap. 20.3 No Discrimination. Concessionaire agrees that there shall be no discrimination as to race, sex, sexual orientation, color, creed, national origin, familial status, religion or handicap, in its employment practice or in the operations referred to by this Agreement; and further, there shall be no discrimination regarding any use, service, maintenance, or operation within the Concession Area. All facilities and services offered shall be made available to the public. SECTION 21. MISCELLANEOUS. 21.1 No Partnership. Nothing contained in this Agreement shall constitute or be construed to be or create a partnership or joint venture between the City and Concessionaire. 21.2 Modifications. This Agreement cannot be changed or modified except by agreement in writing executed by all parties hereto. Concessionaire acknowledges that no modification to this Agreement maybe agreed to by the City unless approved by the Mayor and City Commission except where such authority has been expressly provided herein to the City Manager. 21.3 Complete Agreement. This Agreement, together with all exhibits incorporated hereto, constitutes all the understandings and agreements of whatsoever nature or kind existing between the parties with respect to Concessionaire's operations, as contemplated herein. 21.4 Headings. 20 The section, subsection and paragraph headings contained herein are for convenience of reference only and are not intended to define, limit, or describe the scope or intent of any provision of this Agreement. 21.5 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 21.6 Clauses. The illegality or invalidity of any term or any clause of this Agreement shall not affect the validity of the remainder of the Agreement, and the Agreement shall remain in full force and effect as if such illegal or invalid term or clause were not contained herein unless the elimination of such provision detrimentally reduces the consideration that either party is to receive under this Agreement or materially affects the continuing operation of this Agreement. 21.7 Severability. If any provision of this Agreement or any portion of such provision or the application thereof to any person or circumstance shall be held to be invalid or unenforceable, or shall become a violation of any local, State, or Federal laws, then the same as so applied shall no longer be a part of this Agreement but the remainder of the Agreement, such provisions and the application thereof to other persons or circumstances, shall not be affected thereby and this Agreement shall be so modified. 21.8 Right of Entry. The City, at the direction of the City Manager, shall at all times during hours of operation, have the right to enter into and upon any and all parts of the Concession Area for the purpose of examining the same for any reason relating to the obligations of parties to this Agreement. 21.9 Not a Lease. It is expressly understood and agreed that no part, parcel, building, structure, equipment or space is leased to Concessionaire; that this Agreement is a concession agreement and not a lease, and that Concessionaire's right to operate, manage, and maintain the concession shall continue only so long as Concessionaire complies with the undertakings, provisions, agreements, stipulations and conditions of this Agreement. Accordingly, Concessionaire hereby agrees and acknowledges that in the event of termination of this Agreement, whether due to a default by Concessionaire or otherwise, Concessionaire shall surrender and yield unto the City the Concession Area, in accordance with Subsection 13.7 hereof, and the City shall in no way be required to evict and/or otherwise remove Concessionaire from the Concession Area as if this were a tenancy under Chapter 83, Florida Statutes, nor shall Concessionaire be afforded any other rights afforded to nonresidential tenants pursuant to said Chapter (the parties having herein expressly acknowledged that this Agreement is intended to be a concession agreement and is in noway intended to be a lease). 21.10 Signaye. 21 Concessionaire shall provide, at its sole expense and responsibility, any required signs at its concession. All advertising, signage and postings shall be approved by the City, and shall be in accordance with all applicable Municipal, County, State and Federal laws and regulations. Any signage posted by Concessionaire shall be subject to the prior approval of the City as to size, shape and placement of same. 21.11 Conflict of Interest. Concessionaire shall perform its services under this Agreement and conduct the concession operation(s) contemplated herein, in a manner so as to show no preference for other concession operations/facilities owned, operated, managed, or otherwise controlled by Concessionaire. 21.12 No Waiver. 21.12.1 It is mutually covenanted and agreed by and between the parties hereto that the failure of the City to insist upon the strict performance of any of the conditions, covenants, terms or provisions of this Agreement, or to exercise any option herein conferred, will not be considered or construed as a waiver or relinquishment for the future of any such conditions, covenants, terms, provisions or options but the same shall continue and remain in full force and effect. 21.12.2 A waiver of any term expressed herein shall not be implied by any neglect of the City to declare a forfeiture on account of the violation of such term if such violation by continued or repeated subsequently and any express waiver shall not affect any term other than the one specified in such waiver and that one only for the time and in the manner specifically stated. 21.12.3 The receipt of any sum paid by Concessionaire to the City after breach of any condition, covenant, term or provision herein contained shall not be deemed a waiver of such breach, but shall be taken, considered and construed as payment for use and occupation (and not as rent), unless such breach be expressly waived in writing by the City. 21.13 No Third Party Beneficiary. Nothing in this Agreement shall confer upon any person or entity, other than the parties hereto and their respective successors and permitted assigns, any rights or remedies by reason of this Agreement. SECTION 22. LIMITATION OF LIABILITY. The City desires to enter into this Agreement placing the management and operation of the Concession Area in the hands of a private management entity only if so doing the City can place a limit on its liability for any cause of action for breach of this Agreement, so that its liability for any such breach never exceeds the sum of Ten Thousand ($10,000.00) Dollars. Concessionaire hereby expresses its willingness to enter into this Agreement with a Ten Thousand ($10,000.00) Dollar limitation on recovery for any action for breach of contract. Accordingly, and in consideration of the separate consideration of Ten Thousand ($10,000.00) Dollars, the receipt of which is hereby acknowledged, the City shall not be liable to Concessionaire for damages to Concessionaire in an amount in excess of Ten Thousand ($10,000.00) Dollars, for any action for breach of contract arising out of the performance ornon-performance of any obligations imposed upon the City by this 22 Agreement. Nothing contained in this paragraph or elsewhere in this Agreement is in any way intended to be a waiver of limitation placed upon the City's liability as set forth in Florida Statutes, Section 768.28. SECTION 23. VENUE. This Agreement shall be deemed to have been made and shall be construed and interpreted in accordance with the laws of the State of Florida. This Agreement shall be enforceable in Miami- Dade County, Florida, and if legal action is necessary by either party with respect to the enforcement of any and all the terms or conditions herein, exclusive venue for the enforcement of same shall lie in Miami-Dade County, Florida. THE CITY AND CONCESSIONAIRE HEREBY KNOWINGLY AND INTENTIONALLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING THAT THE CITY AND CONCESSIONAIRE MAY HEREIN AFTER INSTITUTE AGAINST EACH OTHER WITH RESPECT TO ANY MATTER ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE CONCESSION AREA. IN WITNESS WHEREOF, the parties hereto have caused their names to be signed and their seals to be affixed, all as of the day and year first above written, indicating their agreement. Attest: CITY OF MIAMI BEACH, FLORIDA e~ ~~ (11 /t, C~~.h Robert Parcher, CITY CLERK atti Her a Bow r, M YOR Attest: Signature/nSecretary As~ys~t~o~ (Print Name) ONE WASHINGTON AVENUE CORP. ~4 Mark H. DeBlois, CHAIRMAN CORPORATE SEAL (afflix seal here) APPROVED AS TO FORM & LANGUAGE H:\Real Est, Hsng & Comm Devwsset Management\Smith and Wollensky\Smith & Wollensky Conc Agmnt FINA$~t~1 b~6~ECUTION mey y~~ ate 23 q/"~" EXHIBIT 2.1 ~ ~, ''^^ U i V/ *~ ~ ~ end W m ~ d = ..~ RAG dc~ J <C LL Z a ~ m ~ _.._..... _. 0 C H ~ ~ ~ •~~~ Q~ Q ~ _ ~ m ~ ~ ~ ~ c G ~ rou ~'- ~ r ~ ~ O ~ f/) 8 ~~ .. ~ O M ~ E ~ ® ~~ .~ ~~~ ~ ~ U 4 ~ ~ C7 z a c~n = ~ ~ ~ ~ ~ ~ b a i ~ iv 3 {,, Y V $ i~ ~ e y~ tgy GZ 9 L ~ ~ 6 ~ ~ yyp ~~5 rnn~onavrre auarnaae ~rvusax ~ ~ ~ O ® ® ^ W Z fA --- -}-~¢~---• .tea ' , '; i -------- -, ---- ~. ~ ~ R V"-- - -~ 4 ~ - ---~ L~ I~~ 'f~ L'f e-a-~ V 2 ~o~ ~ O N ~C~DO') N 1~. VNO'~ ~1- U w W g w x 4 24 EXHIBIT 5 ANNUAL REPORT ON AGREED-UPON PROCEDURES (A) Svstem Utilized by Concessionaire: The Concessionaire shall utilize the MICROS POS (Point of Sales) system, or any such comparable POS system, that has the capability of tracking transactions by different revenue centers. This system shall be capable of providing separate detail for each revenue center, as well as a combined report for the unit in its entirety. For this Concession Agreement, it is understood that the Concessionaire's POS system can or will: 1. Generate various revenue centers, such as Restaurant (main Dining room), Bar (bar area), Pavilion (food and beverages with no alcohol), Catering (contracted event with or without a cash bar), and the Concession Area (outside tables south of the cutwalk); 2. Each revenue center can report sales by time period (e.g., breakfast, lunch and dinner) and type of sales (e.g., food, beer wine, liquor, other beverage, coffee/tea), tax calculation, discounts, voids, guest count, transaction count, tips and payments(cash, Visa, MC, Amex... ); 3. Those daily transactions entered in the POS system will be archived in the system, providing the capability to audit transactions. Furthermore, the Concessionaire's accounting team will treat each revenue center with different rent requirements as its own unit by preparing separate Journals to capture gross sales, discounts and payments for each revenue center. (B) As~reed-upon procedures will include the following: On an annual basis, the Concessionaire shall prepare and deliver to the City, within 120 days after the end of each concession year term, a report prepared by a Certified Public Accountant applying these agreed-upon procedures that reflects their findings of their review of the Concessionaire's operations. Such review, and report thereof, shall include the following: ANALYSIS OF OPERATION: Inquire of management and obtain and review documentation on the nature of the concessionaire's business and the factors that affect sales. Inquire about and document any major changes made during the period. a. Review procedures for recording sales within and outside of the concession area. b. Obtain the operating policies and procedures from the Concessionaire. c. Interview key concessionaire representatives to determine procedures used. d. Observe the utilization and effectiveness of the procedures through quarterly site visits to concessionaire's Concession Area location. 2. ANNUAL STATEMENT OF GROSS RECEIPTS: Obtain the Annual Statement of Gross Receipts schedule for the year ended, prepared in conformity with Section 5 of the Concession Agreement. Recalculate concession fees for the period based on sales per the schedule and the terms of the Concession Agreement. 3. TIMELINESS OF CONCESSION PAYMENTS: Verify that the Concessionaire's payments were remitted timely in adherence to the due dates designated by the City pursuant to Section 4.1 of the Concession Agreement. 4. TEST OF SALES BY REVENUE CENTER, TIME PERIOD AND TYPE OF SALES: Perform an analytical test of sales by obtaining a schedule summarizing sales by revenue center, time period, and type of sales. Obtain or prepare a reconciliation of total sales recorded in the general ledger for the period to the Annual Statement of Gross Receipts schedule provided to the City of Miami Beach. Perform the following procedures: 25 a. Test the analysis by selecting the Concession Area revenue center and related sub-categories, and compare the amounts shown with those recorded in the sales schedule. Document the items selected EXHIBIT 5 (Page 2 of 2) for testing. Agree the sales schedule balances to the general ledger. b. Review the analysis, and identify any unusual trends or variations within the period or the prior period. c. Obtain sound business reasons for large variations that are unusual in amount or nature included in the analysis. 5. TEST OF SALES PER GUEST/TABLE: Perform an analytical test of average sales per guest and/or table within the Concession Area by time of day and compare to sales in other comparable revenue centers within the restaurant. Obtain sound business reasons for large variations that are unusual in amount or nature included in the analysis. 6. TEST OF SALES COMPLETENESS: Perform a test of sales completeness by applying the following procedures: a. Using sales documentation or daily POS reports, select 1 (one) day per month throughout the year, including weekdays and weekends. Document the items selected for testing. Trace a sample of guest checks (sales documentation -including cash sales and credit card sales) to the daily POS recaps. Note the proper handling of any credit memos, etc. b. Agree the summary information on the daily POS recap to proper recording in the general ledger, as appropriate. c. Agree a sample of deposits per the daily POS recap to the bank statements. d. Foot and cross foot a selected number of monthly reports of gross receipts submitted to the City and other linked documents to verify their accuracy. e. Compare total sales for selected months to sales tax returns filed with the applicable taxing jurisdictions. 7. VERIFICATION OF CONCESSION AREA OPERATIONS: Verify the status of operations within the Concession Area. a. Conduct site visit to determine the level of operations. b. Review provided documents to determine the period of activity. c. Discuss and document any variances with Concessionaire for explanation. 8. VERIFICATION OF CONCESSION AREA USE: Determine and document how management verifies the Concession Area was open on a particular day. a. Scan revenue reports for signs of low or no reported income for the Concession Area. b. Verify whether notations of "inclement weather" or other explanation were recorded for days in which the revenues are unusually low. (C) Citv Riaht to Review Notwithstanding the foregoing, the City shall retain the right to engage in all or similar reviews delineated above. The Concessionaire agrees that the City, or their designee, shall be provided all necessary documentation to pertorm the tests, verifications and reviews described above. 26 s EXHIBIT 10.2 C O N N E R1~ s46 Beachland Blvd., Swte 12, Vero Beach, FL 329&3 (772) 231-1224 C O N C ~ E T ~ Decker Avenue, Stuart, FL (772) 288-1072 Melbourne, FL (321) 723-4004 fax (772) 231-5582 May 27, 2009 Care ~ Maintenance Thank you for choosing CONNERY C®,NCRETE to install and seal your new "Tabby" driveway areas. We appreciate your business and with proper care and maintenance it will look great for many years to come. Generally, minimal maintenance is required. Alight, periodic pressure cleaning might be necessary for heavy diri or staining from tides, pine needles and vehicle fluids. Most often, hosing. down your driveway and cleaning with a biodegradable detergent, using a nylon bristle brush will remove basic dirt and stains. For more stubborp stains, please contact us. Also, please be aware that certain chemicals can adversely affect your "Tabby" Concrete. Among the chemicals that can damage are:. Muratic acid / 13attery.acid /Radiator overflows Xylene I Tylene /Paint thinners Paint strippers Automobile wheel cover cleaners Please advise yonr maintenance and pool cleaning contractor NOT to place any kind of leaning chemicals on any of the driveway areas.. Following the above guidelines will help ensure the beauty and durability for many years to come. Once again,. we hope you will enjoy years of comfort knowing your investment is protected and maintained by the professionals of CONI~ERY CONCRETE. Sincerely, ~~ ~~ Jin1 Connery President xm~~~ aio~s~t ~i 27