HomeMy WebLinkAboutUncondi. Completion Guaranty
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UNCONDITIONAL COMPLETION GUARANTY
THIS UNCONDITIONAL COMPLETION GUARANTY (the "Guaranty") is made as of this ~ day of
"'5~""" . , 1999, by Betty G. Amos, individually, (the "Guarantor'), in favor of MB REDEVELOPMENT,
INC., a Florida corporation (the "Sublandlord"), and is executed pursuant to that certain Anchor Shops at South
Beach Retail Sublease, dated~~ . ~ , 1999 (the "Sublease"), between Sublandlord and ABKEY NO. 17,
INC., a Florida corporation d/b/a Fuddruckers Grill & Bar (or Fuddruckers) (the "Subtenanf'). The Sublease is
with respect to those certain Premises, as defined in the Sublease, located in Anchor Shops at South Beach,
located between 16th and 17th Streets at Collins Avenue, Miami Beach, Florida (the "Retail Space"). All terms
used in the Sublease and defined therein shall have the same meanings when used herein.
FOR VALUE RECEIVED, in consideration of, and as an inducement to Sublandlord's entering into the
Sublease with Subtenant, Guarantor hereby irrevocably and unconditionally guarantees to Sublandlord the
completion of Subtenant's Work. This Guaranty shall be effective until such date (the "Guaranty Expiration Date"),
as Subtenant shall have met the following conditions: (i) Subtenant shall have completed Subtenant's Work as
determined by Landlord's receipt of a copy of a c;ertificate of occupancy for the Premises issued by the Buildings
Department of the City of Miami Beach; and (ii) Subtenant shall have commenced its business operations in the
Premises in accordance with the terms of the Sublease. Notwithstanding the foregoing, in the event Subtenant
validly exercises a termination right expressly set forth in the Sublease prior to the Guaranty Expiration Date, this
Guaranty shall expire on such termination date.
This Guaranty is a guarantee of payment and not of collectibility, Is not In any way conditional or
contingent and constitutes a valid obligation of Guarantor, and shall not be terminated, affected or Impaired by
reason of the assertion by Sublandlord against Subtenant of any of the rights and remedies reserved to
Sublandlord pursuant to the provisions of the Sublease. The validity of this Guaranty shall not be terminated,
affected or impaired by reason of any action which Sublandlord may take or fail to take against Subtenant or by
reason of any waiver of or failure to enforce any of the rights or remedies reserved to Sublandlord in the Sublease
or for any other cause or circumstance whatsoever.
This liability of Guarantor hereunder shall be primary and independent of the obligations of Subtenant,
and Sublandlord may proceed against Guarantor without commencing any action against Subtenant. Sublandlord
shall not be required to make any demand upon or pursue and exhaust any of its rights or remedies against
Subtenant, before, simultaneously with, or after enforcing its rights or remedies against Guarantor under this
Guaranty; and Guarantor agrees that Sublandlord may enforce any or all of its remedies hereunder at such time
or times or in such manner as it shall deem appropriate.
This Guaranty shall remain and continue in full force and effect until the Guaranty Expiration Date (as
herein defined) notwithstanding any modification, amendment, renewal or extension of the Sublease or any
provision thereof and notwithstanding any assignment of interest therein.
The Guarantor consents to all of the terms and provisions of the Sublease, as the same may be from time
to time hereafter amended, and expressly waives (i) any and all notices or proof of non-payment,
non-performance or non-observance by Subtenant of any covenant or provision of the Sublease, (i1) any and all
demands, notices, rights or remedies of any kind which may be required to be given or which may inure to the
benefit or a guarantor under applicable law, and (iii) any and all notices of default or events of default hereunder or
under the Sublease.
Sublandlord and Guarantor agree that in any action or proceeding brought by either Sublandlord or
Guarantor against the other on any mailers whatsoever arising out of, under, or by virtue of this Guaranty,
Sublandlord and Guarantor shall and do hereby waive trial by jury.
Following the Guaranty Expiration Date (as such term is herein defined), upon written request by
Subtenant, the original of this Guaranty shall be marked as "canceled" and returned to Guarantor. This Guaranty
shall inure to the benefit of Sublandlord, its heirs, executors, successors and assigns and shall bind the heirs,
executors, successors and assigns of Guarantor.
EXECUTED as of the day and year first above written, to be effective as of the date of the Sublease.
WITNESSES:
GUARANTOR:
Address:
P.O. Box 330927
Coconut Grove, Florida 33233
M1990690.011
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SUBLANDLORD:
MB REDEVELOPMENT, INC., a Florida corporation
Loews Miami Beach Hotel
1601 Collins Avenue
Miami Beach, Florida 33139
SUBTENANT:
ABKEY NO. 17, INC., a Florida corporation
d/b/a Fuddruckers Grill & Bar (or Fuddruckers)
P.O. Box 330927
Coconut Grove, Florida 33233
DATE OF EXECUTION:
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,1999
ANCHOR SHOPS AT SOUTH BEACH
RETAIL SUBLEASE
M1990680.054