Amendment No. 3 to Lease between The Miami Beach RDA and Open Vision One, LLC Docusign Envelope ID:48959258-9C1A-4AAA-BCB6-7EE6E71135BF � V A � � � - 2G 2.,�"
AMENDMENT NU. 3 TO LEASE
BETWEEN
THE MIAMt BEACH REDEVELOPMENT AGENCY
AND
OPEN ViSION ONE, LLG
This Amendment No. 3 (Amendment}to the 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 af business at 17Q0 Convention Center Drive, Miami Beach, Florida 33139
(Landlord}, and Open Vision One, LLC, a Florrda limited liability company, having its
principal place of business at 1560 Collins Avenue, Suites 3 and 4, Miami Beach, FL
33139 (Tenant), is entered into this 2-"1 day of U�lv�i�.0 , 2025:
RECITALS
WHEREAS, on January 13, 2423, the Miami Beach Redevelapment Agency
("RDA" or "Landlord") entered into a Lease Agreement with Open Vision One, I.LC
("Tenant"} for the use of approximately 4,236 square feet of ground floor retail space
located at 156Q Collins Avenue, Suites 3 and 4 (the "Premises"), for a fine dining
restaurant concept known as"Open Vision,"for a term of nine(9j years and three hundred
sixty-faur(364)days, commencing on January 25, 2023 and ending on January 23, 2033;
and
WNEREAS, under the Lease, the Tenant was granted a rent abatement period
during which the Tenant was not obligated to pay Minimum Rent of$26,475.00 per month,
a Concession Fee, or any Percentage Rent, but rernained responsible for monthly
Operating Expenses; and
WHEREAS, on April 25, 2Q23, the Ghairman and Members of the RDA adopted
RDA Resolution No. 681-2023, approving Amendment No.1 to the Lease to ad}ust the
Goncession 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 form Amendment No. 2 to the Lease;
said amendment extending the 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 $27,269.25 plus applicable sales tax; and
WHEREAS, the Tenant has continued to face permitting delays into 2025,
specifically involving the Department of Regulatory and Economic Resources (DERM),
which have hindered buildout p�ogress and the ability to commence ope�ations; and
WHEREAS, on Aprii 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, 2Q25, to allow sufficient time to complete construction and obtain
final permits; and
WNEREAS, during the requested extension of the Rent Abatement Period, the
Tenant will continue ta pay monthly Operating Expenses, currently estimated at
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Docusign Envelope ID:48959258-9C1A-4AAA-BCB6-7EE6E711358F
app�oximately $4,942.00 per month, but w�li not be required to pay Minimum Rent, a
Concession Fee, or any Percentage Rent; and
WHEREAS, on June 25, 2025, the Chairman and Members of the Miami Beach
Redevelopment Agency adopted Resolution (Vo. 711-2025, approving Amendment No.3
tca the Lease, granting Tenant the requested extension of the Rent Abatement Period.
NC?W TFIEREFORE, in consideration of the mutuai promises and conditions
contained herein, and other good and valuable consideration, the sufficiency of which is
hereby acknawfedged, the Landlord and Tenani hereby agree to amend the lease as
follows:
1. ABOVE RECITA�S.
The above recitals are true and correct and are incarporated as part of this
Amendment.
2. MODIFICATIONS.
The Agreement is hereby amended (deleted +tems strt+slc-!#�e�k� and inserted
items undertined) as follows:
Paragraph 14 of the Lease is hereby modified as follows�
14. Term of Lease(Section 1.1):
Lease Term is nine (9)years and 364 Days from the Commencement Date.
"Commencement Date": The date Landlord delivers Premises to the Tenant.
"Rent Commencement Date": 1} Following the earlier of one hundred and eighty
(1 SO)days fram Commencement Date; or 2} the date any portion of the Premises
opens for business.
Rent Abatement: During Months 2-�29 followinq the Rent Commencement Date
(months 8 - � 35 of the �ease Term); or the date Tenant opens fo� business,
whichever occurs first ("Rent Abatement Period"}, Tenant shall not be required to
pay the monthly Minimum Rent, Concession Fee or Percentage Rent payment that
woufd otherwise be due; however, Tenant shall be required to pay for the monthiy
Operating Expense payment that would otherwise be due during this Rent
Abatement Period.
'Renewal0ptions°� None
3. RATIF[CATIQN.
Except as amended herein, all other terms and conditions of the Lase shall remain
unchanged and in full force and effeet. In the event there is a conflict between the
provisions of this Amendment and the Lease, the provisions of this Amendment
shall govern.
THE REMAINDER C?F TNIS PAGE IS INTENTIONALLY LEFT BLANK.
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Docusign Envelope ID:48959258-9C1A-4AAA-BCB6-7EE6E71135BF
IN WITNESS WNEREOF, the parties hereto have caused this Amendment to be
executed by their appropriate afficials, as of the date first entered above.
FOR LANDLORD: THE MIAMI BEACH
REDEVELOPMENT AGENGY
ATTEST:
DocuSigned by:
C��. ��.a.� r�
By� FAB88AOBFB5�4��F��_..._ _ f� -'C�L/ �
Rafaei E. Granado, Sec�etary Eric T. Carpe ter,
Executive Di� ctor
10/27/2025� 11:05 AM EDT
Date —��--_.___.__._�
F�R TENANT: OPEN VISION ONE, LLC
ATTEST: ---'
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APPROVED AS TO
FORM & LANGUAGE
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�8ner�I('�i�nge�
Granado, Rafael
From: DocuSign - CMB <CMB@Docusign.miamibeachfl.gov>
Sent: Monday, October 27, 2025 11:06 AM
To: Granado, Rafael
Subject: Completed: Complete with Docusign: Open Vision Amendment No. 3.pdf
Attachments: Open Vision Amendment No. 3.pdf
MIAMIBEACH
. .. ._ _ . . _ _.
. . . .
Kevin Sanchez
KevinSanchez@miamibeachfl.gov
All parties have completed Complete with Docusign: Open Vision Amendment No.
3.pdf.
Please see attached for your signature Open Vision Amendment No. 3 approved
pursuant to resolution 711-2025 at the June 25, 2025 Commission Meeting.
�°WEr�'�' �y�docusign
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