Amendment to Retail Lease Agreement with CADIAC~t
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FIRST AMENDMENT TO !THE RETAIL LEASE AGREEMENT
BETWEEN THE MIAMI BEACH REDEVELOPMENT AGENCY
(LANDLORD) AND CADIAC, iINC. (TENANT), INVOLVING SUITES D
AND E IN THE ANCHOR SHOPS, LOCATED AT 1550 COLLINS
AVENUE, MIAMI BEACH, FLORIDA (THE LEASE AGREEMENT)
THIS FIRST AMENDMENT T(
September, 2009 (the "Effective Da
Agency, a public body corporate ar
principal address at 1700 Conventio
Cadiac, Inc, a Florida Corporation, ~
Beach, Florida, 33139 (hereinafter cal
THE LEASE AGREEMENT made the ~~ - da of
Y
"), between the Miami Beach Redevelopment
politic,(hereinafter called "Landlord"), having its
Center Drive, Miami Beach, Florida, 33139, and
th offices at 1560 Collins Avenue, Miami Beach,
d "Tenant"), ='
WITNESSETH
~_
.,
WHEREAS, the parties entered into the Lease Agreement on June 11, 1998, and
wish to amend such 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 to amend the Lease Agreement as follows effective retroactively as of the start of
the 11th Lease Year or June 1, 2009.
1. Section 14 of the Lease Summary shall be amended as follows:
14. "Minimum Rent" (section 2.2)
Monthly Payment
Months Annual Minimum Rent (Plus Sales Tax)
Start of 11th year - Expiration
Sate-of 13th year $~48-9~- $232,980.00 $~.?845-9A $19,415.00
Start of 13th year -Expiration
Date Reset to market rate (*)
Note (*) On June 1, 2011, the Minimum Rent shall be adjusted based upon the results of
a fair market rent analysis to be obtained by the Landlord. Landlord shall attempt to
notify Tenant at least thirty (30) dayslprior to the commencement of the adjustment date.
However, failure of Landlord to timely notify Tenant of the new monthly Minimum Rent
installment amount shall not be deemed a waiver by Landlord of the adjusted amount; the
new monthly amount shall be payable, retroactive to the commencement of the new
adjustment date, upon notification by Landlord to Tenant of the new monthly Minimum
Rent installment amount. Notwithstanding anything herein to the contrary, in no event
shall Minimum Rent in any year be less than the Minimum Rent paid for the immediately
prior year.
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2. Except as amended hereby, the Amended Lease Agreement remains in full force
and effect and is reconfirmed for all purposes.
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3. This Agreement shall be governed by the laws of the State of Florida without
regard to conflicts of law principles thereunder.
4. This Agreement may be executed in counterparts and facsimile signatures are as
effective as an original signature and constitute valid delivery thereof:
IN WITNESS WHEREOF, the parties hereto have caused,these presents to
be signed by the respective duly authorized officers~arid the respective corporate seals to
be affixed this ~ oZ ~ day of Olt B'v H?Y1 p-t~- , 2009.
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ATTEST: MIAMI BEACH REDEVELOPMENT AGENCY, FLORIDA
BY:
Robert Parcher, Secretary
ATTEST:
BY:
Secretary '
(Print Name)
I
I
f
CORPORATE SEAL j
(affix here)
BY:
ore n z, ve Director
Cadiac, Inc.
BY:
APPROVED A3 TO
'FORM ~ LANGUAGE
S:FOR CUTION
~,t.,
~ Lt 01
level ent Agenq Data
General Counsel ice"
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