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2012-28039 Reso RESOLUTION NOj 2012 -28039 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT WITH DESIGN MIAMI TO HOLD THE DESIGN MIAMI SHOW IN THE PREFERRED PARKING LOT, FOR SPECIFIC DATES IN 2013, 2014, 2015, AND 2016; AS MORE SPECIFICALLY SET FORTH IN THE LEASE AGREEMENT ATTACHED AS EXHIBIT "A" TO THIS RESOLUTION. WHEREAS, on May 12, 2010, the City Commission adopted Resolution No. 2010 -27384 approving a Lease Agreement between the City and Design Miami to hold the Design Miami Show in the Preferred Parking Lot (P -Lot) in 2010, 2011 and 2012; and WHEREAS, Design Miami is currently in the final year (third year) of its Lease Agreement with the City, which expires December 31, 2012, and Design Miami has approached the City about entering into a new Lease; and WHEREAS, Design Miami wishes to again lease the Preferred Parking Lot, located between Convention Center Drive and Meridian Avenue, and 18 and 19 streets, for the purpose of continuing to provide the Design Miami show for specific dates in December 2013, 2014, 2015, and 2016, respectively, in conjunction with Art Basel Miami Beach; and WHEREAS, the Preferred Parking Lot was identified as the most compatible space, as it provides for synergy between Design Miami and Art Basel Miami Beach; and WHEREAS, the additional parking at the City Hall Garage, and the Pennsylvania Avenue Garage, provides alternative parking for the spaces displaced by Design Miami; and WHEREAS, at its meeting on July 30, 2012, the Neighborhood /Community Affairs Committee recommended that the Administration negotiate a new Lease with Design Miami, and WHEREAS, the Administration and Design Miami have negotiated the attached Lease Agreement. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA that the Mayor and City Commission hereby approve and authorize the Mayor and City Clerk to execute a Lease Agreement with Design Miami to hold the Design Miami Show in the Preferred Parking Lot, for specific dates in December, 2013, 2014, 2015, and 2016; as more specifically set forth the Lease Agreement attached as Exhibit "A" to this Resolution. 1 PASSED AND ADOPTED this day of DG1�DI Q►� , 2012 . 1 Jorge R. Exposito =' I Vice -Mayo ATTEST: %_ .'� i APPROVED AS TO ` : ORATED: FORM & LANGUAGE & FOR EXECUTION CITY CLERK KGB /MAS ttorney ate T:\AGENDA\2012 \10- 24 -12 \DM P LOT LEASE Reso.doc COMMISSION ITEM SUMMARY Condensed Title: A Resolution approving a Lease Agreement with Design Miami to hold the Design Miami Show in the Preferred Parking Lot, for specific dates in 2013, 2014, 2015, and 2016; as more specifically set forth the Lease Agreement attached as Exhibit "A" to this resolution. Key Intended Outcome Supported: Maximize Miami Beach as a Destination Brand Supporting Data (Surveys, Environmental Scan, etc.): The 2012 Customer Satisfaction Survey indicated that most residents of Miami Beach (70 %) believed that tourism adds to the quality of life in Miami Beach. This figure was virtually the same in 2009 (69 %), yet much higher in 2005 (82 %). Residents of Condo Corridor, Mid Beach and South Pointe were slightly more likely to say that tourism detracts from the quality of life in Miami Beach. Issue: Whether to approve a parking agreement lease with Design Miami for the Preferred Parking Lot and related services forspecific dates in 2013, 2014, 2015 and 2016? Item Summa /Recommendation: Design Miami is a marketplace for limited- edition design from the most reputable international design galleries who present curated exhibitions of museum - quality furniture, lighting and objects d'art. They attract the highest level of private and public collectors of historical and contemporary design; much like Art Basel Miami Beach does with modern and contemporary works of art. On May 12, 2010, the City Commission adopted Resolution No. 2010 -27384 approving a Lease Agreement between the City and Design Miami to hold the December Design Miami Show in the Preferred Parking Lot (P -Lot) in 2010, 2011 and 2012. The P -Lot provides Design Miami with sufficient space to construct a temporary exhibition structure to host the show. The Preferred Parking Lot was identified as the most compatible space, as it was agreed by all parties that it provides,for opportunities for synergy between Design Miami and Art Basel Miami Beach. The parking at the new City Hall garage, the Pennsylvania Avenue Garage and 17 Street Garage provides alternative parking for the spaces (approximately 220) displaced by Design Miami. Design Miami is currently in the final year (third year) of their Lease Agreementwith the City, which expires December 31, 2012. Design Miami has approached the City about renewing the lease, but the current Agreement does not have a renewal provision. The rental rate for the Premises is $84,375 in each year of the lease, including applicable sales tax, per year. This rate was based on a "per space" flat rate of $15.00, calculated by a turnover rate per day, and multiplied by the number of days the spaces could have been used, depending on Exhibit Hall use during the rental period. The first lease agreement between the City and Design Miami included a rental structure that was phased in over three years before reaching the optimal turnover rate per space of 1.5 times. Since the optimal turnover rate per space of 1.5 times has already been reached, this new lease agreement negotiated does not include a rental rate increase during the term of the lease. This is similar to the parking lease agreement the City has with National Marine Manufacturers Association (NMMA) for the Boat Show. Advisory Board Recommendation: Neighborhoods /Community Affairs Committee of July 30, 2012 recommended the Administration negotiate a new agreement with Design Miami. Financial Information: Source of Amount Account Approved Funds: OBPI Total Financial Impact Summary: City Clerk's Office Legislative Tracking: Max Sklar, Acting Assistant City Manager Si n -Offs: Departmen h r ctor A istant I ! a i l nager Manager 11 1 l MAS SF MAS T A\2 12 \10- 24 -12 \DM P LOT LEASE SUMM.doc . K 1 ,4G�EhJ' ®A ITEM . C 7 . , �, DATE. /fI'all i MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfi.gov COMMISSION MEMORANDUM TO: Mayor Matti H. Bower and Members of the City Commission FROM:' Kathie G. Brooks, City Manager DATE: October 24, 2012 SUBJECT A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING A LEASE AGREEMENT WITH DESIGN MIAMI TO HOLD THE DESIGN MIAMI SHOW IN THE PREFERRED PARKING LOT, FOR SPECIFIC DATES IN 2013, 2014, 2015, AND 2016; AS MORE SPECIFICALLY SET FORTH THE LEASE AGREEMENT ATTACHED AS EXHIBIT "A" TO THIS RESOLUTION. ADMINISTRATION RECOMMENDATION Adopt the Resolution. BACKGROUND On May 12, 2010; the City Commission adopted Resolution No. 2010 -27384 approving a Lease Agreement between the City and Design Miami to hold the December Design Miami Show in the Preferred Parking Lot (P -Lot) in 2010, 2011 and 2012. The P -Lot provides Design Miami with sufficient space to construct a temporary exhibition structure to host the show. The Preferred Parking Lot was identified as the most compatible space, as it was agreed by all parties that it provides for opportunities for synergy between Design Miami and Art Basel Miami Beach. The parking at the new City Hall garage, the Pennsylvania Avenue Garage and 17 Street Garage provides alternative parking for the spaces (approximately 220) displaced by Design Miami. Design Miami is currently in the final year (third year) of their Lease Agreement with the City, which expires December 31, 2012. Design Miami has approached the City about renewing the lease, but the current Agreement does not have a renewal provision. The Neighborhoods /Community Affairs Committee met on July 30, 2012 and recommended the Administration negotiate a new agreement with Design Miami. ABOUT DESIGN MIAMI Design Miami is a marketplace for limited- edition design from the most reputable international design galleries who present curated exhibitions of museum - quality furniture, lighting, and objects d'art. It attracts the highest level of private and public collectors of historical and contemporary design, much like Art Basel Miami Beach does with I modern and contemporary works of art. Participating galleries deal mainly in exceptional design objects from the advent of Modernism (circa 1900) to present day, with select galleries specializing in 18 and 19 century antiques. Design Miami produces two shows each year: Design Miami /Basel in June, and Design Miami in December. The December show has been produced in the Design District since 2005, and the June show in Basel since 2006. Craig Robins is a principal of the fairs, which are organized in partnership with MCH Swiss Exhibition, the producers of Art Basel and Art Basel Miami Beach. Design Miami Parking Lease Agreement City Commission Meeting October 24, 2012 Page 2 of 4 PROPOSED LEASE TERMS The proposed Lease Agreement with Design Miami for use of the Preferred Parking Lot has the following terms: Term: Four (4) years ending on December 31, 2016. 2013 October 21 — December 2 Move -in December 3 — December 8 Show Days December 9 — December 26 Move -out *2014 tentative dates are: October 20 — December 1 Move -in December 2 — December 7 Show Days December 8 — December 25 Move -out *Lessee shall give written notice to Lessor on or before February 1, 2014 of any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding on Lessee. *2015 tentative dates are: October 19 - November 30 Move -in December 1 — December 6 Show Days December 7 — December 24 Move -out * *Lessee shall give written notice to Lessor on or before February 1, 2015 of any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding Lessee. *2016 tentative dates are: October _ — November _ Move -in December — December Show Days December — December Move -out * *Lessee shall give written notice to Lessor on or before February 1, 2016 of any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding on Lessee. Rental Rate: The rental rate for the Premises is $84,375 in each year of the lease, including applicable sales tax, per year. This rate was based on a "per space" flat rate of $15.00, calculated by a turnover rate per day, and multiplied by the number of days the spaces could have been used, depending on Exhibit Hall use during the rental period. The first lease agreement between the City and Design Miami included a rental structure that was phased in over three years before reaching the optimal turnover rate per space of 1.5 times. Since the optimal turnover rate per space of 1.5 times has already been reached, this new lease agreement negotiated does not include a rental rate increase during the term of the lease. This is similar to the parking lease agreement the City has with National Marine Manufacturers Association (NMMA) for the Boat Show. Use of additional space(s) must be mutually agreed upon by both parties and rental rates for any agreed upon additional space(s) is determined by the formula outlined below. The following is an itemized listing of the rental fees per year: Design Miami Parking Lease Agreement City Commission Meeting October 24, 2012 Page 3 of 4 Rental 2013 Event parking rate of $22.5p /day (1.5% turnover) per day during Events and 1/4 of lot used. Rental Rate # of Event Days p /space p /day # of spaces Total 15 $22.50 250 $ 84,375 Rental 2014 Event parking rate of $22.5p /day (1.5% turnover) per day during Events' and 1/4 of lot used. # of Event Days Rental Rate # of spaces Total p /space p /day 15 $22.50 250 $ 84,375 Rental 2015 Event parking rate of $22.5p /day (1.5% turnover) per day during Events and 1/4 of lot used. Rental Rate # of Event Days p /space p /day # of spaces Total 15 $22.50 250 $ 84,375 Rental 2016 Event parking rate of $22.5p /day (1.5% turnover) per day during Events and 1/4 of lot used. Rental Rate # of Event Days p /space p /day # of spaces Total 15 $22.50 250 $ 84,375 At no time during the Term of the lease will Design Miami be permitted to use more than 300 parking spaces in the Preferred Parking Lot, unless mutually agreed upon. Protection Clause: The Lease includes a clause prohibiting the City from leasing the Preferred Parking Lot to third parties for any furniture design show, for thirty (30) days immediately prior to, and the thirty (30) days after the Design Miami dates. Convention Center Expansion: It is important to note that in light of the ' discussions regarding the Miami Beach Convention Center expansion, the Agreement includes language providing for a six (6) months notice to Design Miami prior to any construction /capital improvements to the Preferred Parking Lot and /or its vicinity. The City will use best efforts to notice Design Miami with a one (1) year notice. Default and Termination: The City may default Design Miami if any of the following occur: a. If Design Miami abandons or vacates the Premises during any of the dates provided for its use of the Premises hereunder, other than as consistent with moving in or out; b. If Design Miami fails to timely pay any of the rental amounts, as set forth in this Agreement; C. If Design Miami fails to discharge or bond off any lien filed on the Premises, within ten (10) Design Miami Parking Lease Agreement City Commission Meeting October 24, 2012 Page 4 of 4 days of written notice from City to Design Miami; or d. If Design Miami fails to perform in accordance with any of the other terms and conditions herein contained and such default is not cured within ten (10) days after written notice. Public Benefits: Design Miami has also provided residents of the City with a fifteen percent (15 %) discount on the purchase of individual day passes. CONCLUSION The Administration recommends adopting the attached Resolution which approves substantive terms of a Parking Lease Agreement between the City and'Design Miami for use of the Preferred Parking Lot for the Design Miami fair. KGB /MAS T:\AGENDA\2012 \10- 24 -12 \DM P LOT LEASE MEMO 2012.doc PREFERRED PARKING LOT LEASE AGREEMENT FOR "DESIGN MIAMI" SHOW This Lease Agreement (the Lease) made this day of , 2012 (Effective Date),. by and between the CITY OF MIAMI BEACH, a Florida Municipal Corporation (City or Lessor), whose address is 1700 Convention Center Drive, Miami Beach, Florida 33139, and DESIGN MIAMI II, LLC, a Florida limited liability company whose address is 3841 NE 2nd Avenue, Suite 400, Miami, Florida 33137 (Lessee). WHEREAS, Lessee wishes to lease the Preferred Parking Lot, located between Convention Center Drive and Meridian Avenue, and 18 and 19 streets, for the purpose of producing the "Design Miami" show in conjunction with the Art Basel Miami Beach show at the Miami Beach Convention Center (MBCC); and WHEREAS, the Preferred Parking Lot was identified 'as the most compatible space, as it provides for synergy between Lessee's event and Art Basel Miami Beach; and WHEREAS, Lessee seeks to lease the Preferred Parking Lot for the aforestated �+ d \ event from October 21 — December 26, 2013, as well as for similar dates in 2014, and -2015 and 2016 and WHEREAS, the Lessor and Lessee negotiated a agreement Torn. ! She e t (E which was approved by the City Commission on DATE (via Resolution No. # h ; ingly, the paFties have negotiated the f9re9GiR9 Lease based on t NOW, THEREFORE, in consideration of the mutual covenants herein exchanged, the parties agree as follows: 1) Premises Lessee shall have the right to use the following City property for the purpose of producing and holding the Design Miami show (the Event), which use shall include exhibit space; passenger loading zones; space for valet ramping for City's contracted valet operator; and additional storage: The leased premises shall consist of an area equal to approximately 250 spaces in the City's Preferred Parking Lot, located between Convention Center Drive and Meridian Avenue, and 18th Street and 19th Streets, Miami Beach, Florida, (hereinafter, the Premises). The Premises are further delineated in the sketch attached as Exhibit "B" hereto. Subject to the prior written consent of the City Manager, which consent shall not be unreasonably withheld, Lessee may also be permitted to use additional space in the Preferred Parking Lot, at rental rates to be determined by Lessor, based on the formula in Section 2 hereof. If approved, any such additional space shall be deemed incorporated into and be a part of the Premises, and shall also be subject to all of the terms and conditions of the. Lease. 1 2) Term 2013 October 21 — December 2 Move -in December 3 — December 8 Show Days December 9 — December 26 Move -out *2014 tentative dates are: October 20 — December 1 Move -in December 2 — December 7 Show Days December 8 — December 25 Move -out *Lessee shall give written notice to Lessor on or before February 1, 2014 of any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding on Lessee. * *2015 tentative dates are: October 19 — November 30 Move -in December 1 — December 6 Show Days December 7 — December 24 Move -out * *Lessee shall give written notice to Lessor on or before February 1, 2015 of. any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding on Lessee. * *2016 tentative dates are: October 17 — November 28 Move -in November 29— December 4 Show Days December 5 December 22 Move -out * *Lessee shall give written notice to Lessor on or before February 1, 2016 of any change to the dates; otherwise, the tentative dates set forth above shall be presumed to be the final dates and shall be binding on Lessee. Following !he first Event yeaF (2010), and On the eVeRt t�ia};,Taf� the I �-e. Lessee mays#a" the City written notice, within -_s x f (180) days from the last move -out date for any year's event. December 23, 2 of its desire to terminate the Lease. In consideration for being permitted to terminate the Lease in accordance with this paragraph, the City shall retain twenty -five percent (25 %) of the annual rental fee for the next succeeding show as Liquidated Damages. GOMMPRGing upon the EffeGtive Date of th is Lease, Lessee shall be peFFnitted aRiRety (90� day " " urther researnh aSSOGiated nne�tS to nrnre ho Event on the ' Qq��j /Cpipl - p -pGT ♦'1n O �IfG L1IG��l Vl� 111V Lease PFemuses. l R the event that Lessee determines dwing the expleFatGFy period to not PreGe with the Event on the Premises, it may teFmiRate this 1 and Without liability 11nnn W nntine to the rite; provided however that 6UGh nntiGe to termin be reGeived by the Gity duFiRg the ekp'Watery peFied. If Lessee- does not notify the Gity 2 w i th i n the n (90) day exploratory pepiod of its desire te teFFninate the Lease , all terms and nond of the Agreement will remain in fell forge and effeGt 3) Use Lessee shall have the right to use the Premises for the Event, which is a furniture design show for galleries which present curated exhibitions of museum - quality furniture, lighting, and objects. d'art. Lessee's proposed use(s) of the Premises for the Event shall permit exhibit space; passenger loading zones; space for valet ramping for the City's contracted valet operator; and additional storage. Lessee shall be permitted to install fencing at the perimeter of the Premises, subject to complying with all City and Miami -Dade County requirements, including, without limitation, permitting requirements. Lessee shall also be permitted to install tents and other equipment necessary for the Event, subject to complying with all City and Miami -Dade County requirements including, without limitation, permitting requirements. All installations and improvements shall be further subject to current applicable building codes, and shall comply with all applicable City, County, State and Federal Laws. City shall provide, and Lessee hereby accepts, the Premises in their "AS IS," "WHERE IS" condition. At the end of each of the Event dates, as set forth in the Term in Section 2 hereof, Lessee shall return the Premises to their original condition prior to the first move -in date of the Event; including, without limitation, restoring all asphalt and other surfaces to their original (or better) condition. Lessee shall be solely responsible for obtaining and paying for any and all permits and licenses as required and necessary for its use of, and operations on, the Premises. 4) Rental. Lessee agrees to pay the following rental rates (including applicable sales tax) for each Event year during the Term, as follows: Rental 2013 Event parking rate of $22.50 (1.5% turnover) per day during Events and 1/4 of lot used. of Event Days Rental Rate ft of spaces Total p /space p /day - 15 $22.50 250 $ 84,375 Rental 2014 Event parking rate of $22.50 (1.5% turnover) per day during Events and 1/4 of lot used. ft of Event Days Rental Rate ftofspaces Total p /space p /day 15 $22.50 250 $ 84,375 Rental 2015 Event parking rate of $22.50 (1.5% turnover) per day during Events and 1/4 of lot used 3 ft of Event Days Rental Rate #ofspaces Total p /space p /day 15 $22.50 250 $ 84,375 Rental 2016 Event parking rate of $22.50 (1.5% turnover) per day during Events and 1/4 of lot used ft of Event Days Rental Rate ft of spaces Total p /space p /day 15 $22.50 250 $ 84,375 Rental payment -for 2013 will be made as follows: • 50% on or before October 21, 2013; and • balance (50 %) on or before December 3, 2010. Rental payment for 2014 will be made as follows: • 50% on or before October 20, 2014; and • balance (50 %) on or before December 2, 2014. Rental payment for 2015 will be made as follows: • 50% on or before October 19, 2015; and • balance (50 %) on or before December 1, 2015. Rental payment for 2016 will be made as follows: • 50% on or before October 17, 2016; and • balance (50 %) on or before November 29, 2016 The total rental amounts set forth above are final, are subject to amendment only on account of (a) Lessee leasing additional parking spaces, in which event the rental therefor shall be adjusted only to adjust the V of spaces" in the above formula, or (b) amendment by the City Commission as provided below in this section, and are not subject to re- computation or other adjustment under any other circumstances. In addition to the aforestated rental payments, if the City Commission amends the parking rates, Lessor, at its sole option and discretion, may increase the aforestated Rental Rates, - but not to exceed 10% in any given year of the Term. Lessee shall also be solely responsible for the payment of any and all taxes and /or assessments including, without limitation real estate taxes, which may be levied against the Premises as a result of Lessee's actions and operations thereon., Rent shall be paid to the City of Miami Beach Parking Department, 1755 Meridian Avenue, Suite 200, Miami Beach, FL, 33139. 4 i 5) Protection Clause In consideration for Lessee's agreement to hold the Event on the Premises, the City agrees that, for the Term of this Agreement, it will not lease the Preferred Parking Lot to third parties for the purpose of holding a furniture design show, for the thirty (30) days immediately prior to, and the thirty (30) days immediately after, the Event dates (for each year of the Term). The Protection Clause would not, however, prohibit or preclude the City and /or the City's manager at the Convention Center, from allowing the use of the Preferred Parking Lot for load -in, staging, and load -out of a Convention Center show /event which is either a furniture design show, or has a furniture design component. 6) Responsibility for Clean -Up of Public Areas Lessee shall be solely responsible for the necessary housekeeping services to properly maintain the Premises in a neat and orderly manner. Lessee shall maintain the order and cleanliness of the Premises on a daily basis, and shall be responsible for the removal of trash, rubbish, and garbage. If required by the City, Lessee shall provide, at its own expense, trash receptacles throughout the Premises in an amount sufficient to maintain the cleanliness of the area. Lessee shall also instruct and monitor its employees and.contractors to assure that trash, rubbish, and garbage are immediately picked up on the Premises. 7) Services to be Provided by the City's Parking Department. The City's Parking Department shall remove all signs on the Premises prior to the first move -in date for each year of the Event. 8) Lessor's Proposed Improvements In the event that the City, in its sole and reasonable discretion and judgment, deems that it is necessary to close all, or a any portion of, the Premises due to a capital improvements project, including, without limitation, expansion of the Miami Beach Convention Center and /or related facilities, then the City shall provide Lessee with written notice of same no later than six (6) months prior to Lessee's first move -in date of the particular Event year. Following such notice, the parties' hereby agree and acknowledge that the Lease and the parties' respective obligations hereunder, shall be automatically terminated, without liability to either. party. Lessee acknowledges and agrees that it shall not have any claim, demand, or cause of action of whatever kind or nature, against the City, its officials, employees, agents, and /or contractors, including, without limitation, claims for interference in business or damages for business interruption, due to such closure. If possible, the City will use reasonable efforts to provide Lessee with one (1) year notice. 9) Indemnification. Lessee shall indemnify, defend and hold the City its officers, employees, contractors, and agents, harmless from and against any and all claims or causes of action (whether groundless or otherwise) by or on behalf of any persons, firm or corporation, for personal injury, property damage, or other occurring upon the Premises occasioned in whole or in part by any of the following: a. an act of omission on the part of Lessee or any officer, employee, contractor, agent, invitee, guest, or assignee of Lessee; b. any misuse, neglect, or unlawful use of the Premises by Lessee or any officer, employee, contractor, agent, guest, invitee, or assignee of Lessee; and /or C. any breach, violation, or nonperformance of any undertaking by Lessee under this Lease. 5 Lessee agrees to pay, and shall pay, for all damage to the Premises caused by Lessee or any employee, contractor, agent, guest, invitee, or assignee of Lessee. 10) Insurance. The Lease shall not' be effective, nor shall Lessee take possession of the . Premises, until all insurance required under this section has been obtained and such insurance has been approved by City's Risk Manager. Lessee shall maintain and carry in full force during the Term of this Lease the following insurance: i. General Liability, in the amount of $1,000,000.00. A certified copy of Lessee's Insurance Policy must be filed and approved by the Risk Manager prior to commencement. The CITY OF MIAMI BEACH, FLORIDA must be named as an Additional Insured. . 2. Workers' Compensation & Employers Liability, as required pursuant to Florida Statutes. A certified copy of Lessee's Insurance Policy must be filed and approved by the Risk Manager prior to commencement 3. Automobile Insurance, in the amount of $1,000,000.00. A certified copy of Lessee's Insurance Policy must be filed and approved by the Risk Manager prior to commencement. The CITY OF MIAMI BEACH, FLORIDA must be named as, an Additional Insured. 4. All -Risks Property and Casualty Insurance, written at a minimum of 80% of replacement cost value and with replacement cost endorsement, covering the non - permanent structures and floor coverings owned by Lessee. s. Liquor Legal Liability Insurance, with policy limits of $2,000,000 per occurrence, naming the CITY OF MIAMI BEACH, FLORIDA, as an additional insured, either as an endorsement to Lessee's General Liability policy or as a separate policy. Lessee shall provide the City with evidence of this insurance prior to selling or serving alcoholic beverages at or from the Premises. If Lessee fails to obtain or to continue this coverage, Lessee shall immediately discontinue selling and serving alcoholic beverages from the Premises. Lessee may also satisfy this requirement by ensuring that a third party selling and serving such beverages maintains such insurance. All insurance policies must be issued by companies authorized to do business under the laws of the State of Florida. The companies must be rated no less than "B +" as to management and not less than "Class VI" as to strength by the latest edition of Best's Insurance Guide, published by A.M. Best Company, Oldwick, New Jersey, or its equivalent. 11) Default and Termination. The following actions (a) through (d) shall constitute an event of default by Lessee: a. If Lessee abandons or vacates the Premises during any of the dates provided for its use of the Premises hereunder, other than as consistent with moving in or out; . 6 i b. If Lessee fails to timely pay any of the rental, or other amounts, set forth in this Lease; C. If Lessee fails to discharge or bond off any lien filed on the Premises, within five (5) days of written notice from Lessor; or d. If Lessee fails to perform in accordance with any of the other terms and conditions herein contained and such default is not cured within three (3) days after written notice from Lessor; or e. If Lessee fails to comply with the insurance requirements in Section 10 hereof and such default is not cured within twenty -four (24) hours of verbal or written notice from the City. In the event of default by Lessee, and where such default is not cured within the applicable period, the City may terminate this Agreement without further notice to Lessee. Lessee shall immediately surrender possession of the Premises, as well as removing any personal property and equipment therefrom. Any personal property and equipment not so removed shall be removed and stored at Lessee's expense. Additionally, in the event of a termination hereunder, the City may also pursue any and all remedies, whether at law or equity, available to seek redress for such default. 12). Bankruptcy and Insolvency. If Lessee is adjudicated bankrupt or makes an assignment for the benefits of creditors, the City shall have the right to immediately terminate this Agreement and re -enter the Premises without notice or demand. 13) Sublease and Assignment. Lessee shall not sublease the Premises or any part thereof, nor assign this Lease, without obtaining the City Manager's prior written approval, which approval may be given, if at all, at his /her sole and absolute discretion. Nothing herein shall prohibit Lessee being permitted to contract with exhibitors, sponsors and concessions for the Event. 14) Permits and Licenses. Lessee shall be solely responsible for obtaining and paying for any and all permits and licenses necessary for its use of and operations on the Premises. Lessee must obtain a City Special Event Permit, which includes building, structural, electrical permits. Issuance of such Special Event Permit shall be subject to and contingent upon Lessee meeting all the requirements and conditions of the City's administrative rules and guidelines for special events, as same may be amended from time to time. 15) City's Right of Entry. The City,. or its authorized agent or agents, shall have the right, but not the obligation, to enter upon all or any part of the Premises at all reasonable times for the purpose of inspecting same, preventing waste, making such repairs as the City may consider necessary, and for the purpose of preventing fire, and /or addressing other life safety issues. However, the City agrees that, whenever reasonably possible, the City shall provide notice to Lessee, unless the need to enter the Premises is an emergency, as deemed by the City, at its sole discretion, which if not immediately addressed could cause property damage, loss of life or limb, or other injury to persons. Nothing herein shall imply any duty on the part of the City to do any work that under any provisions of this Agreement Lessee may be required to perform, and the performance thereof by the City shall not constitute a waiver of the Lessee's default. 7 16) Security Deposit. Following execution of this Lease by the parties hereto, and in no event later than sixty (60) days prior to the first move -in date of the first year of the Event, Lessee shall pay to City the sum of Five Thousand Dollars ($5,000), as security for the faithful performance by Lessee of the terms, conditions and covenants of this Lease. In the event of Lessee's default of a term, condition and /or covenant of this Lease, the City .shall be entitled to retain such Security Deposit. In the event that Lessee shall fully comply with all of the terms, conditions, and covenants of this Lease, the Security Deposit shall be returned to Lessee, without interest, at the end of the Term. 17) Sponsorship. The City of Miami Beach will be recognized as a sponsor of the Event. As such, the City will receive recognition (logo in catalogue, logo in Miami website/ with link to the. City website). In addition, the City will receive recognition in the Design Miami /Basel catalogue. 18) Complimentary City Tickets. Lessee agrees to provide the City with a minimum of ten (10) complimentary VIP passes and an additional twenty -five (25) complimentary day passes for each year of the Event. 19) Resident Tickets. Lessee shall provide City residents with at least a fifteen percent (15 %) discount on individual day passes. The City will provide Lessee with avenues to promote the offer (i.e. City website and newsletters). 20) Mutual Acknowledgement. Both parties acknowledge that use of the Preferred Parking Lot reduces parking inventory and the availability of public parking for attendees of the fair. 21) Notices. All notices shall be sent to the parties at the following addresses: Lessor: City of Miami Beach City Manager's Office 1700 Convention Center Drive Miami Beach, FL 33139 Attn: City Manager City of Miami Beach Parking Department 1755 Meridian Avenue, Suite 200 Miami Beach, FL 33139 Attn: Director Tourism and Cultural Development Department 1755 Meridian Avenue, Suite 500 Miami Beach, FL 33139 Attn: Director 8 Lessee: Design Miami II, LLC 3841 NE 2 nd Avenue Suite 400 Miami, FL 33137 Attention: Craig Robins With copies to: Design Miami ll, LLC 3841 NE 2 nd Avenue Suite 400 Miami, FL 33137 Attention: Anna Williams and to: Design Miami ll, LLC 3841 NE 2 "d Avenue Suite 400 Miami, FL 33137 Attention: Ty Bassett Lessee and Lessor may change such address at any time upon giving the other party written notification. All notices under this Lease must be in writing and shall be deemed to be served when delivered to the address of the addressee. All notices served by mail shall be registered mail, return receipt requested. Lessee may designate additional persons for notification of default. 22) Force Maieure. No party will be liable or responsible to the other party for any delay, damage, loss, failure, or inability to perform caused by "force majeure" if notice is provided to the other party within ten (10) days of the date on which such party gains actual knowledge of the event of "force majeure" that such party is unable to perform. The term "force majeure ", as used in this subsection, means the following: an act of God, strike, war, public rioting, terrorism, unusual tidal activity affecting the use of the Premises, fire, hurricane, explosions, epidemics, earthquakes, floods, civil disturbances, and any other cause which is not reasonably within the control of the party whose performance is to be excused, and by which the exercise of due diligence could not be reasonably prevented or overcome. 23) Waiver. No waiver by Lessor any time of any of the terms or conditions of this Lease shall be deemed at any time thereafter a waiver of the same or any other term or conditions hereof. 24) Severability. If any term or provision of this Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the reminder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term and provision of this Lease shall be valid and be enforceable for the fullest extent permitted by law. 25) Governing LawNenue. This Lease shall be governed by and construed in accordance with the law of the State of Florida. This Lease shall be enforceable in Miami- Dade County, Florida, and if legal action is necessary by either party with respect to the 9 enforcement of any or all of the terms or conditions herein exclusive venue for the enforcement of same shall lie in Dade County, Florida. By entering into this Lease, Lessee and Lessor expressly waive any rights either party may have to a trial by jury of any civil litigation related to, or arising out of, this Lease. 26) Limitation of Liability. City desires to enter into this Lease only if in doing so the City can place a limit on the City's liability for cause of action for money damages due to an alleged breach by the City of this Lease, so that the liability for any such breach never exceeds the sum of $10,000. Lessee hereby expresses its willingness to enter into this Lease with Lessee's recovery from the City_ for any damage action for breach of contract to be limited to a maximum amount of $10,000. Accordingly, and notwithstanding any other term or condition of this Lease, Lessee hereby agrees that the City shall not be liable to Lessee for damages in an amount in excess of $10,000, for any action of claim for breach of contract arising out of the performance or nonperformance of any obligations imposed upon the City by this Lease. Nothing contained in this paragraph or elsewhere in this Lease is in any way intended to be a waiver of the limitation placed upon the City liability as set forth in Florida Statutes, Section 768.28. [ REMAINDER OF PAGE LEFT BLANK INTENTIONALLY] IN WITNESS WHEREOF, the parties hereto have caused this Lease to be executed by their appropriate officials, as of the date first entered above. ATTEST: LESSOR/CITY OF MIAMI BEACH Rafael Grandado City Clerk Matti H. Bower, Mayor LESSEE /DESIGN Miami DESIGN MIAMI II, LLC, by Design Miami, Inc., its managing member WITNESS: By: By: Anna Williams Print Name Vice President By: Print Name FAinfo \$ALL \MaATCD \Special Events \LesseeP Lot Lease Agr.doc 10