711-2025 RDA RESOLUTION NO. 711-2025
A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY (RDA), APPROVING, IN SUBSTANTIAL
FORM,AMENDMENT NO. 3 TO THE LEASE AGREEMENT BETWEEN THE RDA
(LANDLORD) AND OPEN VISION ONE, LLC (TENANT), FOR USE OF
APPROXIMATELY 4,236 SQUARE FEET OF GROUND FLOOR RETAIL SPACE
AT THE ANCHOR SHOPS AND GARAGE, LOCATED AT 1560 COLLINS
AVENUE, SUITE NOS. 3-4, TO EXTEND THE RENT ABATEMENT PERIOD TO
THE EARLIER OF: (I) THE OPENING OF THE PREMISES OR (II) AN
ADDITIONAL EIGHT (8) MONTH PERIOD, FROM APRIL 25, 2025 THROUGH
DECEMBER 24, 2025, DUE TO CONSTRUCTION AND PERMITTING DELAYS;
AND FURTHER,AUTHORIZING THE EXECUTIVE DIRECTOR TO FINALIZE AND
EXECUTE AMENDMENT NO. 3.
WHEREAS, on January 13, 2023, the Miami Beach Redevelopment Agency ("RDA" or
"Landlord")entered into a Lease Agreement with Open Vision One, LLC("TenanY')for approximately
4,236 square feet of ground floor retail space located at 1560 Collins Avenue, Suites 3 and 4 (the
"Premises"), for a fine dining restaurant concept known as "Open Vision,"for a term of nine(9)years
and three hundred sixty-four (364) days, commencing on January 25, 2023 and ending on January
23, 2033; and
WHEREAS, under the Lease, the Tenant was initially granted a Rent Abatement Period
during months two (2) through thirteen (13) following the Rent Commencement Date, during which
Rent Abatement Period the Tenant was not obligated to pay the Minimum Rent, at the time
$26,475.00 per month plus applicable sales, a Concession Fee, or any Percentage Rent, but
remained responsible for monthly Operating Expenses; and
WHEREAS, on April 25, 2023, the Chairman and Members of the RDA adopted RDA
Resolution No. 681-2023, approving Amendment No.1 to the Lease to adjust the Concession Fee
for use of the Outside Concession Area; and
WHEREAS, on October 30, 2024, the Chairman and Members of the RDA adopted
Resolution No. 701-2024, approving, in substantial fortn, Amendment No. 2; said amendment
extending the Rent Abatement Period by eight (8) months due to delays related to the installation
and permitting of a grease trap, covering the period from August 25, 2024 through April 24, 2025,
during which period the monthly Minimum Rent amount was $27,26925 plus applicable sales tax;
and
WHEREAS, the Tenant has continued to face construction and permitting delays into 2025,
specifically involving the Department of Regulatory and Economic Resources, which have hindered
the buildout progress and the ability to commence operations; and
WHEREAS, on April 10, 2025, the Tenant submitted a written request seeking an additional
eight(8) month extension of the Rent Abatement Period, from April 25, 2025 through December 24,
2025, to allow sufficient time to complete construction and obtain final pertnits; and
WHEREAS, during the requested extension of ihe Rent Abatement Period, the Tenant will
continue to pay monthly Operating Expenses, currently estimated at approximately $4,942.00 per
month, but will not be required to pay Minimum Rent, a Concession Fee, or any Percentage Rent;
and
WHEREAS, during this extended Rent Abatement Period, even though Tenant is not making
Rent payments,the monthly Minimum Rent amount and the Concession Feewill continue to escalate
by 3°/a per year on July 25'"of each year and
WHEREAS, the approval, in substantial form, of Amendment No. 3 to the Lease, a draft copy
of which is attached to the RDA Memorandum accompanying this Resolution as Exhibit B, will serve
to reflect the revised construction timeline while preserving the long-term fnancial inlent of the
Lease, and provide the Tenant with flexibility to complete buildout and begin operations.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRPERSON AND MEMBERS
OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairperson and Members of the
RDA hereby approve, in substantial form, Amendment No. 3 to the Lease Agreement behveen the
RDA(Landlord) and Open Vision One, LLC (Tenant), for use of approximately 4,236 square feet of
ground floor retail space at the Anchor Shops and Garage, located at 1560 Collins Avenue, Suite
Nos. 3-4, to extend the Rent Abatement Period to the earlier of: (i) the opening of the Premises or
(ii) an additional eight (8) month period, from April 25 , 2025 through December24, 2025, due to
construction and permitting delays; and further, authorize the Executive Director to fnalize and
execute Amendment No. 3.
PASSED and ADOPTED this as day of JN11� 2025.
ATTEST:
. JIIM 3 0 202� �ix�%fp-u-�- /Li�" ��_.
� . Granado, Secretary • Steven Meiner, Chairperson
�si :es"�.@.E4�•.,
��GIS BARBOU =�'' y`
`:INCOA�E�:h�,�
�'x,3.. a:
+,4R. . .. cs,,.
.,, ,�H,Zy.,;
APPROVED AS TO
. FORM & LANGUAGE
XECUTION
(��131�vzs
Gedevelopmenf Agency Dote
renaml Cn�nse�
RedevelopmentAgencyltems (RDA) 2
MIAMI BEACH
COMMISSION MEMORANDl1M
TO: Honorable Mayor and Members of the Cily Commission
FROM: Eric Carpenter, Ezecutive Director
DATE: June 25, 2025
TITLE: A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH
REDEVELOPMENT AGENCY (RDA), APPROVING. IN SUBSTANTIAL FORM,
AMENDMENT NO. 3 TO THE LEASE AGREEMENT BETWEEN THE RDA
(LANDLORD) AND OPEN VISION ONE, LLC (TENANT), FOR USE OF
APPROXIMATELY 4,236 SQUARE FEET OF GROUND FLOOR RETAIL SPACE
AT THE ANCHOR SHOPS AND GARAGE, LOCATED AT 1560 COLLINS AVENUE,
SUITE NOS. 3-4, TO EXTEND THE RENT ABATEMENT PERIOD TO THE
EARLIER OF: (I) THE OPENING OF THE PREMISES OR (II) AN ADDITIONAL
EIGHT (8) MONTH PERIOD, FROM APRIL 25, 2025 THROUGH DECEMBER 24,
2025, DUE TO CONSTRUCTION AND PERMITTING DELAYS; AND FURTHER
AUTHORIZING THE EXECUTIVE DIRECTOR TO FINALIZE AND EXECUTE
AMENDMENT NO. 3.
RECOMMENDATION
The Administration recommends iha� the Chairperson and Members of the Miami Beach
Redevelopment Agency approve Amendment No. 3 lo the Lease Agreement with Open Vision
One, LLC, extending the rent abatement penod through December 24, 2025.
BACKGROUND/HISTORY
On January 13, 2�23,the Miami Beach Redevelopment Agency("Landlord")entered into a Lease
Agreement with Open Vision One, LLC ("Tenant")for approximately 4,236 square feet of ground
Floor retail space located at 1560 Collins Avenue, Suites 3 and 4. The space was leased for the
development and operation of a fne dining reslaurant concept known as "Open Vision." The
Lease term is nine (9) years and three hundred sizty-four (364) days, commencing January 25,
2023, and ending January 23, 2033.
Under the original Lease terms, the Tenant received a rent abatement period during which ihe
Tenant was not obligated to pay monthty Minimum Rent of$26,475.00, a Concession Fee, or any
Percentage Rent, but remained responsible for monthty Operating Expenses. This initial
abatement period was set to expire on September 24, 2024.
Due to delays slemminq from the permitting process for a required grease trap inslallation, the
Tenant requested and was granted an eight-monih extension of the ren[ abatement period
(Amendment No.2),which was approved by Ihe RDA via ResoWtion No.701-2024.The extension
covered the period from August 25, 2024, th�ough April 24, 2025.
As conslmction and pertnitting challenges have continued, the Tenant submiried a request on
April 10, 2025, as shown in Exhibit A, seeking a further eight-moMh extension of the abatemenl
period to allow sufficient time for consUuction complelion and (nal inspections.
2359
ANALYSIS
The Tenant is contrectually obligated to pay Minimum Rent in the amount of $27,269.25 per
month, in addition to a Concession Fee and Percentage Rent, once the abatement period ends.
However, given the complexiry of the required grease trap installation and ihe extended review
pmcess by the Department of Regulatory and Economic Resources (DERM), the Tenant has
expenenced signifcant delays in completing its buildout and obtaining f nal permits to commence
operations.
These delays have been beyond the TenanPs control and have impacted the originally anticipated
project timeline and budget In recognition of these circumstances, the Tenant has requested a
thlyd amendment to the �ease to extend the reM abatement period for an additional eight (8)
months, from April 25, 2025 through December 24, 2025.
During this extended abatement period, the Tenant will continue to pay monthly Operating
Expenses, currently estimated at approximately $4,94200, ensuring the Landlord continues�b
recover its outof-pocke� property-related costs. The additional time will help the Tenant finalize
buildout activities and secwe all necessary operational approvals, supporting the long-term
success of the restauranfs opening. The abatement period is exlended to the eadier o�: (i) the
opening o(the Premises or (ii) an addi�ional eight (8) month penod, from April 25, 2025 �hrough
December 24, 2025.
The Open Vision concept is expected to enhance the culinary and ezperiential offerings at the
Anchor Shops and Garage, and Ihe proposed amendment represents a collaborative effort ro
support tenant success and uphold the City's broader revitalization and economic development
goals.
FISCAL IMPACT STATEMENT
The fiscal impact of the proposed Amendment No. 3 includes the deferral of the Tenanfs Minimum
Rent, Concession Fee, and Percentage Rent obligations during the requested eigh4month
eztension. Based on the Lease's wrrenl rent schedule,this equates lo a de/erral of approximately
$218,154.00 in Minimum Rent revenue in addition to the forgone collection of associated
Concession Fees and any Percentage Rent ihat would have been due if operations had
commenced.
Despite the temporary deferral of this revenue,the Tenant will continue to pay monthly Operating
Expenses of approximately$4,942.00,totaling$39,536.00 over the eight-month extension.These
payments ensure thal �he Landlord continues to recover essential costs tietl to maintaining lhe
premises during the abalement penod.
The proposed amendment does not increase Ihe total lease term or provide additional economic
incen�ives. Rather, it aligns the rent commencement limeline with realistic construclion
milestones, ihereby preserving the Lease's long-term fnancial structwe and enhancing the
likelihood of full tenant occupancy and revenue generation in future lease years.
Does this Ordinance require a Business Imoact Estimate?
(FOR ORDINANCES ONLY)
If applicable, the Business Impact Estimate (BIE)was pu6lished on:
See BIE at: https�llwww miamibeachfl aovlcitV-halllcitY-clerklmeetinq-noticesl
FINANCIAL INFORMATION
2360
CONCLUSION
The Adminis�ration recommends that the ihat the Chairperson and Members of the RDA hereby
approve, in subslantial form, Amendment No. 3 to the Lease Agreement belween the RDA
(Landbrd) and Open Vision One, LLC (Tenant), (or use of approximately 4,236 square feet of
gmund floor retail space at the Anchor Shops and Garage, bcated at 1560 Collins Avenue, Suite
Nos. 3-4, to e#end Ihe Ren� Abalement Period to the earlier oE (i) the opening of the Premises
or(ii)an addilional eight (B) monlh period, from April 25 , 2025 through Decembe24, 2025, due
to construction and permitting delays; and further authorize the Executive Director to finalize and
execute Amendment No. 3.
Applicable Area
South Beach
Is this a "Residents Riuht to Know" item. Is this item related to a G.O. Bond
pursuant to CitY Code Section 2-17? Proiect?
No No
Was this Aqenda Item initiallv requested hv a lobbvist which as defined in Code Sec. 2-081
includes a orinciaal enaaqed in Iobbvinq7 No
If so, speci(y the name of lobbyist(s) and principal(s)-.
Department
Facilities and Fleet Management
Soonsor(s1
Co•sponsor(sl
ContlenseA Title
Approve AmendmeM 3 Lease w/ Open Vision One, LLC, for Add'I (8) Months Ren�Abatement.
FF
Previous Action (For CiN Clerk Use Onlv)
2361
:Ap�il 1 U,3(�25
n[r. Ozric Domin4ucz,
CSV1 Dircuor af:Asset AlnnagemeN
1'uciliues and Plect �Ianagement Ucpr.
Ciq' ofVGami I3each
1833 13m-Road,2",� Ylouc
]liami Beach, llorida 33139
Re: Rcyucst fur lismmion of Rent Cnmmencement Date and Rrnt Abammrne Pe�iod of thc
Lcnsc bem'cen thc Ciry of Miami 13cach and Open Vision Onc, iI.0 for rhe Prnpertp
1 r 1 c1560C1f - 1 � 5 - -3 � 4
Dcnr()>riic �
As vou knov�, this fian mpresenrs Oprn V'ision Une (che `Tenant') u'ith respect m che
Lease be[wec� the Tenanc and d�e Cin'oC illinmi 13each (die"Cin,''� for[he propern-lucated at 1560
Collins .Aecnue, Suites 3 and 4 (the "Propend�. Plrnse allo�c ihis mrrespondence m sene as a
cc�ucst Cor E�tcnslon of chc Rcnc Commcnccmrn[ Dam und Rcnr !�Uatcmrnr Pcriod ot chc Lcasc
bet�cern che Ciry of Mfamf 8cach and che 9'enant tor the Propenc (che '9.case'�.
D e 'p�ion of the Prooertv. 7'hc Propern' is loca[cd on rhe south side of IG"' Sttcct
bet�ccen Colllns and l6�ashln�tun .Accnucs, in che GC, Guecrnmenc Use, zoning dlsttict. It is alsu
Incared �vlchin thc Occan Drlvc�Collins Arc�mc Lucul Ilismnc Dis«ct and rhe Aliemi Bcach
;ArchSmuurul Distna in che Naiional Regicrer ol liismric Dis[ncts. �fiami-Dade Countv identiFies
the pcopert�- bc Folio So.: U2-3234U19-1U90. Pa�suant tu die 6Gami-Dade Counn- Propern�
:1pp�a3sec,the properq'�s a�proxlmatele 2G1,SOU squam Feec and hwses a tiveston'strucmre. "Phe
mp fuor (4J levels uf the stmcmm huuse a parking garage, whfle the ground fluur pru�-ides fu[
commercial uses. 9�his requcst pettafns n�suims 1 and 4,the Prupert�'.
Reauest. "Phc Tenant is myucsnngan cight (R) month csrension of timc ofthc�ommcnccmcnt
dnre and ren� abatement periud of che I.ease, ur in the alternacice through the �ime af recei�inK n
Cer[ifica[c of l:se (CU) frum the Cit��uf\Iiaml Hea�h,w'hlchecer is eadlee Thls requesns premised
upun thr pevnitong issues thnt hece uisen ac t6e Prupenc. .�s�rou are aware,rhere nzre sobscann�al
del:rvs w'ith receicfng DRR\f appru.al fur the Propeny. V ecenheless', the TenaN dId nut alluw Ihe
DGR�I dela}'s to hindee its efforts. Beluw is a timcllne ot permit sabntission and ro-ic�cs. Yuu wlll
norq the 'I�enan[did nue Aelvc f� their permit requcscs a�d hnce consistendv pursucd [he issuanee
of permits Bum the City. Cnf�ttunatcl�-, the dclat:+ feum DP.R�I may huce (mpaceed [he Cit)'s
mechanical reriem� and dclaped rhe iswance oC permit rceislnns dcaling wich mechanical aspecta,
not the Icast uf a�hfch ie thc hood. Plcasc mfer tn the timeli�e hduw•:
• ]anuary 13.2023—���.irties cn�ercd ium n Ic:rsc n�,rccinrnt
M
� 7y5U NW S3"S�NEET. �SUITE 33]�MIAMI, FL�331GG�305-5423445� MONIKA@MHELAWPhCOM
LAW PA
2362
M�.traic Domingucz
Opcn Vfsiun One LLC
n�,n in. 2nzs
Pagc 2 n(7
• March 22, 2023—E7C2321 I 39 -'fcnan� appGcd f�r masrcc pennic
e �uIc20, �023—mecha�icalreview�paesed
o Apn18,2024—perml[is5uedafrerianundsofu�mments(re�ie�cezdes Apri12033,
�uk 2023, Nrn-cmber 2023, Afa¢h 2024)
• June fi,2024-RV'242289�tu BC2331139—muhanlcal cerlsion Cor gas line,oucdoor scatinK
�.ind recnNi�.uretinn M mileis
• 4eounds of �omments �une 2024, Seprembec 2�24, Decembci 2024,
appnn'ed on �anuncc 15, 2p25) .
• Ja�uary'15,2025—rc�-isinofinaGzed
• J�ne 27, 2024 - I�.1(:2414441 —applicd fnr clecttical permir fnc inrerior remodd
c Ju/y IG, 2024—pccmit issucd
• ]uly 1�2024—�fI:C24U447(-applied to� mechanical sub-permit foc hood
o P�.iBed recle�vs �une 2024, �ul}' 2(�24, (*c��ieu' a�dcs for RV24228')� included
Scptcmbcr and Dcecmber 2024), Fc6ruary 202�.��areh 202�
o Pcnding issuancc of RV2422897,�chlch�ras]am�ary 202�
• Augnst ]5, 2024—Lll(�11 d9N3—appfied For hook-up tor new clearical signs
0 3-ruunds ol commems (Srp�ember 2024,Oao6er 2024, Gnalized during lasr round
o�comments �anuar�' 2025)
c F bruary ]0.2025—percnit i.sucd
• Ai�gust 22� 2024 — FPOR24-5600—epplied t"ur huud suppression scstcm (permic�cill nor
issuc unul meehanicnl pemtic is cumpleced)
• ]anuary 31� 2025-FY012>-6032—applicd for frc occupunc load �br CC
• Jamiary 31� 2025—CU25-GGR4—applicd fur CL'
• February 5, 2025 — PI.C2�71)U9 applled for ��as Ifne permi� — namral ga> mcccr �o
cninincrciul moking cquipmcnt
„ Fcbruary 10,ZOZS—per*nrt �ssued
V�, q�,ip hus cxlsted betwecn d�c filing nl these perntia and ihc pue�uit o( thcir iss�mna'.
.Vrh��u�h no ncw pcnnirs �rcrc 61cd bcrn�ccn thc m��nths oE Augusr 2021 and Januan� 2U3i, o� no
ncu' per�nlcs �ocrc ncccssan-, thc "Crnant p��sucd nc� iscuan�c of[hc appGcd fot pc[mits. Duri�g
ihuse munths the Temnt a'ent th�uugh severnl ecd�s ot mciems to[ pe[m�ts, induding thc
inedianlrnl permi� (\II�:C24044�G— svbmissions fnr recic�cs Scprcmber and Dc¢mbcr 2024); nc�
dcarical pcnnir IIiL(:241a7$3 — submiccions fur rcvfc���c in Seprembcr and Oauber uE2024 �nd
�anunrc 20'_?j: a�d che recisions[u che blasmrpemut(R\2422987 to i3C2321139—submissiuns tnr
]950 NW 53"'ARECT.�SUITC 33]�MIAMI,FL�33166� 305-542-3445� MONIKA@MHELAWPA.COM
2363
Mr. Ozzic Domingucz
Opcn Vision One LLl'.
Apnl 10.2025
Page 3 0(3
reclmcs in Jeptember and December 2024 and for�anunr}' ��25).The tenant has acticele putsued
thr issumice uf atl pern�its und has iio�alln��ed fnc this maue� m be d�imam.
V�'hilc nc�'f cnanc�ou hopoful of hacin� thc resrvurnnt open by dpcil 1,2U25, chc Icvcl ot
cummencs and dclays in che fssuance of pr�mft�havc renJe�ed that dete impussible fuc opening. As
�.� result,�ce�re reques�ing en aJdiiional nmendmcnranJ estcnsion o(�he leare mmmenccmenr darr
und ren[abarement pe�iod for die Propetty.
Conclusion. The Tennnt enntinues m demun�vare eommfrmrnt m ihis pruecss und the
Gn,, Thcir prop�ascd ee[ablixhment will be co�isismnc u-ich the uses i�i the a�ea and improve dic �
cha�ac[cr oE dic ncighborhnnd. AC'c res�ctfully rcqucsr vour suppntt to� rhfs cxrcnsion rcqucst.
Should ��m hncc �.mv qucsiions or mmmenis, plcuc Jo no� hesi�atc to mntac� mc.
SIn¢celp,
\fl 18 L1\\'P;1
��lunikn 11. P,nrin
7950 NW 53"'STftEET. .SUITE 33�� MIAMI, FL�33166�305-542d445• MONIKA@MHELAWP0.COM
2364
AMENDMENT NO. 3 TO LEASE
BETWEEN
THE MIAMI BEACH REDEVELOPMENT AGENCY
AND
OPEN VISION ONE, LLC
This Amendment No. 3 (Amendment)�o Ihe Lease, dated January 13. 2023 (Agreement),
by and between the Miami Beach Redevelopment Agency (RDA), a Public Body
Corporate and Politic and existing under the laws of the State of Florida, having its
principal place of business at 1700 Convention Center Dnve, Miami Beach, Florida 33'139
(Landlord), and Open Vision One, LLC, a Florida limited liability company, having its
principal place of business a[ 1560 Collins Avenue, Suites 3 and 4, Miami Beach, FL
33139 (Tenant), is entered into this_day of , 2025(Effective Date):
RECITALS
WHEREAS, on January 13, 2023, the Miami Beach Redevelopment Agency
("RDA" or "Landlord") entered into a Lease Agreement with Open Vision One, LLC
('Tenanf') for Ihe use of approximately 4,236 square feet of ground floor retail space
located at 1560 Collins Avenue, Suites 3 and 4 (lhe "Premises"), for a fne dining
restaurant concept known as"Open Vision,"for a term of nine(9)years and three hundred
sixty-four(3fi4)days, commencing on January 25, 2023 and ending on January 23, 2033;
and
WHEREAS, under ihe Lease, the Tenant was granted a rent abatement period
during which the Tenant was no[obliga�ed to pay Minimum Rent of$26,475.00 per month,
a Concession Fee, or any Percentage Rent, but remained responsible for monthly
Operaling Expenses; and
WHEREAS, on April 25, 2023, the Chairman and Members of the R�A adopred
RDA Resolution No. 681-2023, approving Amendment No.1 to the Lease to adjust the
Concession Fee for use of ihe Outside Concession Area; and
WHEREAS,on October 30,2024,lhe Chairman and Members of the RDA adopted
Resolution No. 701-2024, approving, in substantial form Amendment No. 2 to the Lease;
said amendment extending the Abatement Period by eight (8) monihs due to delays
related lo Ihe installalion and permitting of a grease Irap, covering Ihe period from August
25, 2024Ihrough Apiil 24, 2025, during which period the monthly Minimum Ren[amount
was $27.26925 pWs applicable sales taz; and
WHEREAS, the Tenant has continued to face permitting delays into 2025,
specifically involving Ihe Department of Regulatory and Economic Resources (DERM),
which have hindered buildout progress and the abiliry[o commence operations; and
WHEREAS, on April 1Q 2025, the Tenant su6mitted a written request seeking an
additional eight (8) month ezlension of lhe rent abatemenl period, from April 25, 2025
2365
through December 24, 2025, to allow sufficient lime to complete construclion and obtain
fnal permits; and
WHEREAS, during the requested ex�ension of the Rent Abatement Period �he
Tenant will continue to pay monthly Operating Expenses, currently estimated at
approximately $4,942.00 per month, but will not be required to pay Minimum Rent, a
Concession Fee, or any Percentage Rent; and
WHEREAS, on , 2025, the Chairman and Members of the Miami Beach
Redevelopment Agency adopted Resolution No. , approving Amendmem
No.3 lo Ihe Lease, granting Tenant Ihe requested extension of the Rent Abatement
Period.
NOW THEREFORE, in consideration of the mutual promises and conditions
contained herein, and other good and valuable consideration, the sufficiency o(which is
hereby acknowledged, the Landlord and Tenant hereby agree to amend the Lease as
follows:
1. ABOVE RECITALS.
The above recitals are true and wrrect and are incorporeted as part of this
Amendment.
2. MODIFICATIONS.
The Agreement is hereby amended (deleted i�ems skask-fhreuQl� and inserted
items undedined) as follows:
14. Term of Lease (Section 1.1):
Lease Term is nine (9) years and 364 Days from the Commencement Date.
"Commencemenf Date": The date Landlord delivers Premises to Ihe Tenant.
"Rent Commencement Date": 1) Following the eadier of one hundred and eighty
(180)days from Commencement Date; or 2)the dale any portion of the Premises
opens for business.
. Rent AbatemenC During Months 2 - 21 29 followino the Rent Commencement
Date(months8-2-Z35oftheLeaseTerm): orthedateTenantopensforbusiness,
whichever ocwrs frst ("Rent Abatement Period"), Tenant shall not be required to
pay the monthly Minimum Rent,Concession Fee or Percentage Rent payment that
would otherwise be due; however, Tenant shall be�equired to pay for[he monihly
Operating Expense payment that would otherwise be due during this Rem
Abatement Period.
14 RATIFICATION.
Except as amended herein, all other terms and conditions of the Lase shall remain
unchanged and in full force and effecc In the event there is a conflict belween the
2366
i
provisions of lhis Amendmenl and lhe Lease, lhe provisions of this Amendment
shall govern.
THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.
2367
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by iheir appropriate offcials, as of ihe date first entered above.
FOR LANDLORD: THE MIAMI BEACH
REDEVELOPMENT AGENCY
ATTEST:
By:
Rafael E. Granado, SecreWry Eric T. Carpenter,
Executive Director
Date
FOR TENANT: OPEN VISION ONE, LLC
ATTEST:
By:
President
Print Name Print Name
Date
i
2368