367-2000 RDA
/
RESOLUTION 367-2000
A RESOLUTION OF THE CHAI AND MEMBERS OF THE MIAMI BEACH
REDEVELOPMENT AGENCY A THORIZING THE CHAIRMAN AND
SECRETARY TO EXECUTE LEASE A REEMENT WITH ADOLFO DOMINGUEZ
USA, INC. D/B/A ADOLFO DOMING EZ, FOR SUITES # F, G, H & I, IN THE
ANCHOR SHOPS AT SOUTH BEAC .
WHEREAS, since July 2000, the Adminis ation has been negotiating an Agreement of Lease
with Adolfo Dominguez USA, Inc., d/b/a Adolfo D minguez, to lease 2,884 square feet in the Anchor
Shops at South Beach (Anchor Shops); and
WHEREAS, the proposed Lease Agreeme t includes the four (4) remaining retail bays which
include Suite # F, G, H and I, located on the 16th treet side of the building, is now being submitted
for approval and subsequent execution by the Re evelopment Agency (RDA) Board; and
e Retail Space Master Lease Agreement, the
anaging and leasing the retail space at the Anchor
WHEREAS, since the termination of
Administration has assumed the responsibility of
Shops; and
WHEREAS, as Landlord of the Ancho Shops, the RDA must approve (in its reasonable
judgement) the terms and conditions of any prop sed lease agreement; and
WHEREAS, said Lease Agreement cal s for the tenant to develop a store to retail
women's, men's and youth apparel under the n e of Adolfo Dominguez; and
WHEREAS, the proposed Lease Agree ent is for a term often years and three months (3
months rent abatement), with one five year rene al option, starting at $86,520 per year, or a rate of
$30/sq.ft., to be adjusted yearly by CPI with a c of 5% Rer year; and
ate starts three months (90 days) after the Lease
'tting and construction ofthe space improvements;
WHEREAS, the costs associated with t e construction of the Tenant improvements of the
retail space and other connections and services e the responsibility ofthe Tenant; and
WHEREAS, the Tenant will execute unconditional completion warranty for the retail
space improvements with the Lease Agreement; and
WHEREAS, the rent commencement
commencement date, to allow for the design, pe
and
WHEREAS, the Tenant will provide a security deposit equivalent to two months rent and
prepay the first month's rent upon execution ofthe lease.
NOW, THEREFORE BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and Members of the
Miami Beach Redevelopment Agency authorize the Chairman and the Secretary to execute a Lease
Agreement with Adolfo Dominguez USA, Inc., d/b/a Adolfo Dominguez, to lease 2,884 square feet
in the Anchor Shops at South Beach (Anchor Shops), in the four (4) remaining retail bays which
include Suite # F, G, H and I, located on the 16th Street side of the building..
PASSED AND ADOPTED this 13th day of September, 2000.
VM
ATTEST:
CHAIRMAN
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SECRETARY
T:\AOENOA\lOOOlSEPI3001RDA\ANCHDOMI,RES
APPROVED AS 10
FORM & lANGUAGE
& FOR EXECUTION
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Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673- 7295
Fax: (305) 673- 7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 00- <0 D
September 13, 2000
TO:
Chairman and Members of the Board
of the Miami Beach Redevelopment Agency
FROM:
Jorge M. Gonzalez \i 1 ~
Executive Director cfv \J
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY AUTHORIZING THE CHAIRMAN
AND SECRETARY TO EXECUTE LEASE AGREEMENT WITH ADOLFO
DOMINGUEZ USA, INC. D/B/A ADOLFO DOMINGUEZ, FOR SUITES # F,
G, H & I, IN THE ANCHOR SHOPS AT SOUTH BEACH.
SUBJECT:
ADMINISTRATION RECOMMENDATION:
Adopt the resolution.
BACKGROUND:
Since July 2000, the Administration has been negotiating an Agreement of Lease with Adolfo
Dominguez USA, Inc., d/b/a Adolfo Dominguez, to lease 2,884 square feet in the Anchor Shops at
South Beach (Anchor Shops). The proposed Lease Agreement includes the four (4) remaining retail
bays which include Suite # F, G, H and I, located on the 16th Street side of the building, is now
being submitted for approval and subsequent execution by the Redevelopment Agency (RDA)
Board,
Adolfo Dominguez is a Spanish clothing designer, operated under Adolfo Dominguez, S.A., a
publically traded company, with over 142 stores throughout Europe, Asia and South America. The
suites at the Anchor Shops will be the designer's first retail store in the United States for women's,
men's and youth apparel. The store's interior finishes and layout are similar to those found in
"Armani" or "Prada" retail stores. This store will be the designer's anchor for his expansion plans
throughout the United States. References were provided and favorable.
AGENDA ITEM 3>>
DATE..3 - ( 3-00
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ANALYSIS
The proposed lease agreement is for a term often years, with no renewal options, starting at $86,520
per year, or a rate of $30/sq.ft., to be adjusted yearly by CPI with a cap of 5% per year. All costs
associated with the construction of the tenant improvements of the retail space and other connections
and services are the responsibility of the Tenant. The Tenant will also be required to execute an
unconditional completion warranty for the retail space improvements. The rent commencement date
starts three months (90 days) after the lease commencement date, to allow for the design, permitting
and construction of the interior improvements. A two month security deposit and one month of
prepaid rent are requirements of the proposed lease.
Leasing Commissions:
No leasing commissions are being paid in connection with this lease as the subject Lease negotiated
directly between the RDA staff and the tenant.
The Administration recommends that the Chairman and the Members of the Miami Beach
Redevelopment Agency authorize the Chairman and the Secretary to execute a Lease Agreement
with with Adolfo Dominguez USA, Inc., d/b/a Adolfo Dominguez, to lease 2,884 square feet in the
Anchor Shops at South Beach (Anchor Shops), four (4) remaining retail bays which include Suite
# F, G, H and I, located on the 16th Street side of the building.
JMG:~ar ~
T:\AGENDAIlOOO\SEPI300\RDAIANCHDOMl.DOC
attachments
CITY OF MIAMI BEACH
Office of the City Manager
Interoffice Memorandum
In
To: Honorable Mayor and Members of the City Commission Date: September 11, 2000
Jorge M. Gonzalez, City Manager J ~
RDA Item 3D - City Commission Meeting of 09/13/00
From:
Subject:
As a point of clarification on the referenced Redevelopment Board agenda item, the proposed Lease
Agreement is for a term of ten years and three months (three months rent abatement) with one
renewal option for five years.
The commission memorandum incorrectly states that the lease term is for a term often years with
no renewal options.
If you have any questions, please contact me.
(IL.lC
JMG/df1:C/rar
F:\CMGR\$ALl\CHlUSTIN\RDA\9-13CC3D.MTG
c: Christina M. Cuervo, Assistant City Manager
Alexandra Rolandelli, Redevelopment Coordinator
Kent Bonde, Redevelopment Coordinator
(~'^-f~
Agenda Item P..D P\ 3 0
Date Q-13-o0
.,
LANDLORD:
Miami Beach Redevelopment Agency, a public body
corporate and politic
1700 Convention Center Drive
Miami Beach, Florida 33139
TENANT:
Adolfo Dominguez USA, Inc., a Florida limited partnership in
formation
Attn: Dr. Fernando Trebolle
Corporate Legal Department
Poligono Industrial San Cibrao das Vinas
Calle 4, Parcela 8. 32901 OURENSE
SPAIN
DATE OF EXECUTION:
September 13
,2000
ANCHOR SHOPS AT SOUTH BEACH
RETAIL LEASE
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,
LEASE SUMMARY
The following is a summary of basic lease provisions with respect to the Lease. It is an integral part of the
Lease, and terms defined or dollar amounts specified in this Summary shall have the meanings or amounts as
stated, uniess expanded upon in the text of the Lease and its Exhibits, which are attached to and made a part of
this Summary.
~
/
/
1.
Date of Lease Execution:
.2000.
September 13
2.
"Landlord":
Miami Beach Redevelopment Agency
3.
Landlord's Address:
Miami Beach Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
with a copy to:
City of Miami Beach
Miami Beach Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Attention: Legal Department
4.
"Tenant":
Adolfo Dominguez USA, Inc.
5.
Tenant's Address:
Attn: Dr. Fernando Trebolle
Corporate Legal Department
Poligono Industrial San Cibrao das Vinas
Calle 4, Parcela 8. 32901 OURENSE
SPAIN
with a copy to:
Ms. Susana Varsky
President
Adolfo Dominguez Argentina SA
Areanles 1726
(C 106 1 AAV) Buenos Aires
ARGENTINA
6.
"Guarantor":
Adolfo Dominguez, S.A. (10# A-321 04226)
7.
Guarantor's Address:
Adolfo Dominguez, S.A.
Attn: Dr. Fernando Trebolle
Corporate Legal Department
Poligono Industrial San Cibrao das Vinas
Calle 4, Parcela 8. 32901 OURENSE
SPAIN
8.
Premises (section 1.1 ):
10016" Street - Suite #1,2,3 and 4
Miami Beach, Florida 33139
As shown on Exhibit "B"
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9. Gross Rentable Area of
Premises (section 1.1 ):
Approximately 2,884 square feet
10. Gross Rentable Area of
Retail Space (section 1.1):
Approximately 20,500 rentable square feet
11. Tenant's Proportionate
Share (section 2.4):
N/A
12. Permitted Use of
Premises (section 3.1 ):
First-class retail store selling upscape male and female
fashion clothing (and subject to the prohibited uses
described in Exhibit "D" to theLease)
13. Term ofLease (section 1.1):
Approximately ten (10) years and three (3) months
"Commencement Date": The date that Landlord delivers
possession of the Premises to Tenant for purposes of
Tenant performing Tenant's Work, as hereinafter defined,
which is intended to be simultaneous with Landlord's
execution and delivery of the Lease
"Rent Commencement Date": The earlier of (i) the date
Tenant opens for business or (ii) the Completion Date for
Tenant's Work (Le., ninety (90) days after the
Commencement Date)
"Expiration Date": Ten (10) years after the Rent
Commencement Date
"Renewal Options": One (1) option of five years after the
Expiration Date. Tenant must notify Landlord, in wriling,
one hundred and eighty (180) days prior to the Expiration
Date of its intension of excersing the Renewal Option.
"Minimum Rene (section 2.2):
ANNUAL MINIMUM RENT
MONTHLY PAYMENT
(PLUS SALES TAX)
MONTHS
Commencement Date - Rent
Commencement Date
$ 0.00
$0.00
Rent Commencement Date -
next succeeding twelve months'
$86,520.00
$7,210.00
. Beginning with the thirteenth (13th) month after the Rent Commencement Date, and thereafter at the
beginning of each succeeding year during the Term of the Lease, the Minimum Rent shall be adjusted by
multiplying the Minimum Rent then being paid by a fraction, the numerator of which shall be the Consumer Price
Index. U.S. City average for urban wage earners and clerical workers all items (1982-84 equals 100) ("CPI") for
the third month preceding the month of adjustment, and the denominator of which shall be the CPI for the fifteenth
month preceding the month of adjustment. Anything herein to the contrary notwithstanding, in no event shall
Minimum Rent in any year be less than the Minimum Rent paid for the immediately prior year. Should the CPI
become unavailable, a reasonable substitute prepared by the U.S. Department of Labor or other source, as
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designated by Landlord, shall be used. Minimum Rent shall continue to be payable in monthly installments as
otherwise described above until Landlord notifies Tenant of the new monthly Minimum Rent installment amount.
Landlord shall attempt to so notify Tenant prior to the commencement of each 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 increased rental; the new monthly amount (or any portion to previously paid) shall be
payabie, retroactive to the commencement of the new adjustment date, upon notification by Landlord to Tenant of
the new monthly Minimum Rent installment amount. Notwithstanding the foregoing, the annual Minimum Rent
shall not be increased by more than five percent (5%) from the Minimum Rent payable for the immediately prior
year.
15. PercentaCle Rental (section 2.3):
N/A
16. Prepaid Rent (section 2.2):
$7,678.65 (includes sales tax) (due upon execution of
Lease; to be applied to first full month Minimum Rent is
due)
17. Securitv Deposit (section 2.7):
$14,420.00 (excludes sales tax) (due upon execution of
Lease)
18. Cost Pass-ThrouQhs (section
2.4):
N/A
19. Comprehensive General
Liabilitv Insurance (section 6.1 ):
$2,000,000.00
20. Monthly Promotional Charge
(section 13.1):
N/A
21. Broker(s) (section 14.12):
N/A
22. Completion Date for Tenanfs Work
(section 5.1 ):
Ninety (90) days after the Commencement Date
23. Trade Name (section 3.1 ):
Adolfo Dominguez
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THIS LEASE (the "Lease"), dated the 11th'day of September, 2000, is made between the Miami
Beach Redevelopment Agency, a public body corporate and politic (the "Landlord"), and ADOLFO DOMINGUEZ,
INC., A Florida Limited Partnership in formation (the "Tenant").
RECITALS:
A. The Landlord is the fee simple owner of a certain facility (the "Facility") containing a
municipal parking garage and appurtenances containing approximately eight hundred (800) parking spaces
(the "Garage") and certain retail space (the "Retail Space") located in an area bounded by Washington and Collins
Avenues in the proximity of 16th Street, City of Miami Beach, Metropolitan Dade County, Florida, as more particularly
described in Exhibit "A," attached hereto and made a part hereof (the "Land"). The Landlord is the fee simple owner
of the Land and the Facility.
B. Landlord and Tenant desire to enter into this Lease for a portion of the Retail Space, on
the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
hereby agree as follows:
ARTICLE I. TERM.
1.1 Grant: Term. In consideration of the performance by Tenant of its obligations under this Lease,
Landlord leases to Tenant, and Tenant leases from Landlord, for the Term, the "Premises." A site plan showing
the location of the Retail Space within the Facility, as well as the location of the Premises within the Retail Space,
is attached hereto and made a part hereof as Exhibit "B." The gross rentable area of the Premises and Retail
Space shown on the Lease Summary do not represent accurate measurements of the square footage contained in
the Premises or the Retail Space, but are mere estimates.
The "Term" of the Lease is the period from the Commencement Date as specified in the Lease
Summary, through the Expiration Date, as specified in the Lease Summary.
1.2. Landlord's Work. Tenant acknowledges and agrees that it is accepting possession of the
Premises in as-is condition and that, except as otherwise expressly hereinafter set forth, Landlord has no
obligation to furnish, render, or supply any money, work, labor, material, fixture, equipment, or decoration with
~respect to the Premises. Landlord has caused or will cause the completion of the shell improvements to the Retail
, ace as more particularly described on Exhibit "B-1," attached hereto and made a part hereof (the "Shell
I rovements"), pursuant to plans and specifications therefor prepared by Landlord's architect and engineer
(t e "Project Plans and Specifications") and made available to Tenant prior to the date hereof. Landlord reserves
. t e right to modify the plans and specifications for the Shell Improvements in response to building code
quirements and/or construction conditions. Tenant is responsible for any and all utility impact fees and
onnection fees, charges, and/or deposits as may be required in connection with Tenant's Work, as hereinafter
defined.
Upon the expiration of five (5) business days following the Commencement Date, the Premises
shall be conclusively deemed to be accepted by Tenant unless Tenant shall have given Landlord written notice of
any contended defects in the Premises.
ARTICLE II. RENT.
2.1 Covenant to Pay. Tenant shall pay to Landlord all sums due hereunder from time to time from the
Rent Commencement Date without prior demand, together with all applicable Florida sales tax thereon; however,
unless otherwise provided in this Lease, payments other than Tenant's regular monthly payments of Minimum
Rent shall be payable by Tenant to Landlord within five (5) days following demand. All rent or other charges that
1
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.
are required to be paid by Tenant to Landlord shall be payable at Landlord's address indicated on the Lease
Summary. Minimum Rent and additional rent (which is all sums payable to Landlord other than Minimum Rent) for
any "Lease Year" consisting of less than twelve (12) months shall be prorated on a per diem basis, based upon a
period of 365 days. "Lease Yea~' means the twelve (12) full calendar months commencing on the Commencement
Date. However, the final Lease Year may contain less than tweive (12) months due to expiration or sooner
termination of the Term. Tenant agrees that its covenant to pay rent and all other sums under this Lease is an
independent covenant and that all such amounts are payable without counterclaim, set-off, deduction, abatement,
or reduction whatsoever, except as expressly provided for in this Lease.
2.2 Minimum Rent. Subject to any escalation which may be provided for in this Lease, Tenant shall
pay Minimum Rent for the Term in the initial amount specified in the Lease Summary, which, except for the first
installment, shall be payable throughout the Term in equal monthly installments in advance on the first day of each
calendar month of each year of the Term, such monthly installments to be in the amounts (subject to escalation)
specified in the Lease Summary'. The first monthly installment of Minimum Rent shall be due on the date of this
Lease. The Minimum Rent described above shall be adjusted during the Term of this Lease as provided in the
Lease Summary.
2.3. PercentaQe Rental. Intentionally Omitted.
2.4 OoeratinQ Costs: Taxes. Intentionally Omitted.
2.5 Payment of Personal Prooertv Taxes: Sales Tax Reoorts. Tenant shall pay, when due, all taxes
attributable to the personal property, trade fixtures, business, occupancy, or sales of Tenant or any other occupant
of the Premises and to the use of the Retail Space by Tenant or such other occupant. Tenant shall provide
Landlord with copies of Tenant's sales tax reports provided to the State of Florida, as and when such reports are
provided to the State. Landlord shall have the right to disclose such reports to any person or entity having an
interest or prospective interest in the Retail Space.
2.6 Rent Past Due. If any payment due from Tenant shall be overdue more than five (5) days, a late
cnarge of five (5%) percent of the delinquent sum may be charged by Landlord. If any payment due from Tenant
shall remain overdue for more than fifteen (15) days, an additional late charge in an amount equal to the lesser of
the highest rate permitted by law or one and one-half (11/2%) percent per month (eighteen (18%) percent per
annum) of the delinquent amount may be charged by Landlord, such charge to be computed for the entire period
for which the amount is overdue and which shall be in addition to and not in lieu of the five (5%) percent late
charge or any other remedy available to Landlord.
2.7 Security Deoosit. Landlord acknowledges receipt of a security deposit in the amount specified on
Lease Summary to be held by Landlord, without any liability for interest thereon, as security for the
rformance by Tenant of all its obligations under this Lease. Landlord shall be entitled to commingle the security
posit with Landlord's other funds. If Tenant defaults in any of its obligations under this Lease, Landlord may at
. s option, but without prejudice to any other rights which Landlord may have, apply all or part of the security
deposit to compensate Landlord for any loss, damage, or expense sustained by Landlord as a result of such
default. If all or any part of the security deposit is so applied, Tenant shall restore the security deposit to its
original amount on demand of Landlord. Subject to the provisions of section 2.4, within thirty (30) days following
termination of this Lease, if Tenant is not then in default, the security deposit will be returned by Landlord to
Tenant.
Notwithstanding the foregoing, for purposes of the security deposit described in the Lease Summary and
the above paragraph, Tenant, at its option, shall have the right to post an irrevocable, unconditional, and
transferable Letter of Credit, which Letter of Credit shall comply with the provisions of Exhibit "2.7," attached
hereto and made a part hereof. If Tenant delivers the Letter of Credit to Landlord, then Landlord will return the
cash security deposit promptly after Landlord's receipt of the Letter of Credit.
2.8 Landlord's Lien. To secure the payment of all rent and other sums of money due and to become
due hereunder and the faithful performance of this Lease by Tenant, Tenant hereby gives to Landlord an express
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first and prior contract lien and security interest on all property now or hereafter acquired (including fixtures,
equipment, chattels, and merchandise) which may be placed in the Premises and also upon all proceeds of any
insurance which may accrue to Tenant by reason of destruction of or damage to any such property. Such
property shall not be removed therefrom without the written consent of Landlord until all arrearages in rental and
other sums of money then due to Landlord hereunder shall first have been paid; provided, Tenant may operate its
business in the ordinary course and the removal of merchandise from the Premises by customers of Tenant shall
not be a default under this section. All exemption laws are hereby waived in favor of said lien and security interest.
This lien and security interest is given in addition to Landlord's statutory lien and shall be cumulative thereto.
Landlord shall, in addition to all of its rights hereunder, also have all of the rights and remedies of a secured party
under the Uniform Commercial Code as adopted in the State in which the Premises is located. To the extent
permitted by law, this Lease shall constitute a security agreement under Article 9 of the Florida Uniform
Commercial Code.
ARTICLE III. USE OF PREMISES.
3.1 Permitted Use. The Premises shall be used and occupied only for the sale al retail of goods or
services as specified in the Lease Summary. The business of Tenant in the Premises shall be carried on under
the name specified in the Lease Summary and under no other name unless approved by Landlord in writing.
Tenant shall carry on its business on the Premises in a reputable manner and shall not do, omit, permit, or suffer
to be done or exist upon the Premises anything which shall result in a nuisance, hazard, or bring about a breach of
any provision of this Lease or any applicable municipal or other governmental law or regulation, or would
otherwise be inconsistent with a first-class retail center or incompatible with retail uses ancillary to a first-class
convention center hotel. Tenant shall observe all reasonable rules and regulations established by Landlord from
time to time for the Retail Space. The rules and regulations in effect as of the date hereof are attached to and
made a part of this Lease as Exhibit "C." Landlord will provide a copy of any amendments to the rules and
reguiations at least seven (7) days prior to the effective date of any such amendments. Tenant shall display such
name as Landlord may from time to time designate for the Retail Space in its stationery used upon the Premises,
and in material which is given, visible, or available to customers of Tenant. Tenant shall promote such name in any
advertisements or promotional material published or initiated by Tenant in regard to its business from the
Premises. The nam"s for the Retail Space and the project of which the Retail Space is a part, which Landlord
may from time to time adopt, and every name or mark adopted by Landlord in connection with the Retail Space
shall be used by Tenant only in association with the business carried on in the Premises during the Term and
Tenant's use thereof shall be subject to such reasonable regulation as Landlord may from time to time impose.
3.2 Comoliance with Laws. The Premises shall be used and occupied in a safe, careful, and proper
manner so as not to contravene any present or future laws, rules, regulations, constitutions, orders, ordinances,
harters, statutes, codes, executive orders, and requirements of all governmental authorities having jurisdiction over
t Premises or any street, road, avenue, or sidewalk comprising a part of, or lying in front of, the Premises or any
ult in or under the Premises (including, without limitation, any of the foregoing relating to handicapped access or
p rking, the local building codes, and the laws, rules, regulations, orders, ordinances, statutes, codes, and
r quirements of any applicable Fire Rating Bureau or other body exercising similar functions), the temporary and/or
ermanent certificate or certificates of occupancy issued for the Premises as then in force, and any and all provisions
nd requirements of any property, casualty, or other insurance policy required to be carried by Tenant under this
Lease. If due to Tenant's use of the Premises, repairs, improvements, or alterations are necessary to comply with
any of the foregoing, Tenant shall pay the entire cost thereof.
3.3 SiQns. Tenant, at Tenant's expense, shall erect and maintain identification signage upon the
storefront of the Premises. The design and specification of such signage shall be subject to Landlord's sign
criteria as adopted from time to time and such design and specification (including camera-ready artwork) shall be
submitted for Landlord's prior aDprovai. Except with the prior written consent of Landlord, Tenant shall not erect,
install, display, inscribe, paint, or affix any signs, lettering, or advertising medium upon or above any exterior
portion of the Premises or in or on Tenant's storefront or storefront window. Landlord's signage criteria is attached
hereto and made a part hereof as Exhibit "E."
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3
3.4 Environmental Provisions.
(a) Tenant shall not knowingly incorporate into, use, or otherwise place or dispose of at the
Premises or in the Retail Space (or allow others to incorporate into, use, or otherwise place or dispose of at the
Premises or in the Retail Space) any Hazardous Materials, as hereinafter defined, unless (i) such Hazardous
Materials are for use in the ordinary course of business (Le., as with office or cleaning supplies), (ii) notice of and a
copy of the current material safety data sheet is provided to Landlord for each such Hazardous Material (except
for Hazardous Materiais used by Tenant in the ordinary course of business (Le., as with office or cleaning
supplies)), and (iii) such materials are handled and disposed of in accordance with all applicable governmental
laws, rules, and regulations. If Landlord or Tenant ever has knowledge of the presence in the Premises or the
Retail Space of Hazardous Mat..,rials which affect the Premises, such party shall notify the other thereof in writing
promptly after obtaining such knowledge. For purposes of this Lease, "Hazardous Materials" shall mean:
(a) petroleum and its constituents; (b) radon gas, asbestos in any form which is or could become friable, urea
formaldehyde foam insulation, transformers or other equipment which contain dielectric fluid containing levels of
polychlorinated biphenyls in excess of federal, state or local safety guidelines, whichever are more stringent; (c) any
substance, gas, material or chemical which is or may hereafter be defined as or included in the definition of
"hazardous substances," "hazardous materials," "hazardous wastes," "pollutants or contaminants," "solid wastes," or
words of similar import under any applicable governmental laws, rules, and regulations including, but not limited to,
the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. 9 9061 et
seQ.; the Hazardous Materials Transportation Act, as amended, 49 U.S.C. 91801, et seQ.; the Resource
Conservation and Recovery Act, as amended, 42 U.S.C. 96901, et seQ.; the Federal Water Pollution Control Act, as
amended, 33 U.S.C. 91251, et seQ.; and Florida Statutes, Chapters 376 and 403; and (d) any other chemical,
material, gas, or substance, the exposure to or release of which is regulated by any governmental or
quasi-govemmental entity having jurisdiction over the Retail Space or the operations thereon.
(b) If Tenant or its employees, agents, or contractors shall ever violate the provisions of
subsection (a), above, then Tenant shall clean-up, remove, and dispose of the Hazardous Material causing the
violation, in compliance with all applicable govemmental standards, laws, rules, and regulations and repair any
damage to the Premises or Retail Space within such period of time as may be reasonable under the
circumstances after written notice by Landlord, provided that such work shall commence not later than thirty (30)
days from such notice and be diligently and continuously carried to completion by Tenant or Tenant's designated
contractors. Tenant shall notify Landlord of its method, time, and procedure for any clean-up or removal of
Hazardous Materials under this provision; and Landlord shall have the right to require reasonable changes in such
method, time, or procedure or to require the same to be done after normal business hours or when the Retail
Space is otherwise closed (Le., holidays) if reasonably required for the protection of other tenants or occupants of
the Retail Space.
~ (c) Tenant agrees to defend, indemnify, and hold harmless Landlord, and the City of Miami
ach (the "City") against any and all claims, costs, expenses, damages, liability, and the like, which Landlord may
eafter be liable for, suffer, incur, or pay arising under any applicable environmental laws, rules, and regulations
d resulting from or arising out of any breach of the covenants contained in this section 3.4, or out of any act,
ctivity, or violation of any applicable environmental laws, rules, and regulations on the part of Tenant, its agents,
employees, or assigns. Tenant's liability under this section 3.4 shall survive the expiration or any termination of this
Lease.
3.5 Hours: Continued Occupancv. During the Term, Tenant shall conduct its business in the
Premises, at a minimum, on all days and during all hours established by Landlord from time to time as store hours
for the Retail Space. Tenant may conduct business on the Premises, in addition to the foregoing times, in Tenant's
reasonable judgment in order to maximize sales from the Premises, at Tenant's sole expense. However, Landlord
shall not be responsible fc~ providing common area or other services during such additional hours. Tenant shall
open the whole of the Premises for business to the public, fully fixtured, stocked, and staffed on the Completion
Date set forth in item 22 of the Lease Summary, and shall continuously, actively, and diligently carry on the
business specified in section 3.1 on the whole of the Premises during the Term, during such hours and upon such
days as are herein required, except when prevented from doing so by force majeure. Tenant acknowledges that its
continued occupancy of the Premises and the regular conduct of its business therein are of utmost importance to
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neighboring tenants and to Landlord in the renting of space in the Retail Space, the renewal of other leases
therein, the efficient and economic supply of services and utilities. Tenant acknowledges that Landlord is
executing this Lease in reliancE: thereupon and that the same is a material element inducing Landlord to execute
this Lease. Tenant shall not keep or display any merchandise on or otherwise obstruct the common areas and
shall not sell, advertise, conduct, or solicit business anywhere within the Retail Space other than in the Premises.
Tenant shall ship and receive supplies, fixtures, equipment, furnishings, wares, and merchandise only through the
appropriate service and delivery facilities provided by Landlord; and shall not park its trucks or other delivery
vehicles or allow suppliers or others making deliveries to or receiving shipments from the Premises to park in the
parking areas, except in those parts thereof as may from time to time be allocated by Landlord for such purpose.
Tenant shall maintain available a substantial stock of goods, wares, and merchandise adequate to ensure
successful operation of Tenant's business, and shall employ and maintain sales and other personnel sufficient at
all times for proper service to customers.
3.6 Prohibited Use. Notwithstanding any other provisions of theis Lease, Tenant shall not use the
Premises nor permit them to be used for any of the followiong purposes: (Al for the sale by Tenant, as its principal
business purpose, of any merchandise which Tenant, in the course of its normal business practice, purchases at
manufacturers' clearances or purchases of ends-of-runs, bankruptcy stock, seconds, or other similar merchandise;
(B) for the sale of second-hand goods, war surplus articles, insurance salvage stock, fire sale stock, merchandise
damaged by or held out to be damaged by fire, except merchandise damaged by fire or smoke occurring in the
Retail Space, and then only for thirty (30) days after the date of any such damage; (C) as an auction or fiea
market; (D) for a bankruptcy sale or going-out-of-business sale or liquidation sale or any similar sale, unless
Tenant is in fact in bankruptcy or is going out of business or is in liquidation, in which case such sale shall not
continue beyond thirty (30) days; (El a business primarily used for an order office, mail order office, or catalogue
store; (F) any business in which Tenant is engaged in intentionally deceptive or fraudulent advertising or selling
practices or any other act or business practice contrary to honest retail practices; or (G) for the sale by Tenant, as
its primarily business, of (i) swimwear; (i1) motorcycle-related clothing and accessories; (i1i) clothings sold under
the following brand names: Dolce & Gabbana: Versace Jean Couture: B.C.B.G. Diesel; Replay; Polo Sport; Polo
Jeans; and Ralph Lauren; and shoe sold under the following brand names: Charles David; Calvin Klein: Kenneth
Cole; SoHo Shoes; Via Spiga; and Milano; or (iv) custom-made fine jewelry.
3.7 Intentionaly Omitted.-
3.8 Exclusive Use. So long as Tenant is in actual occupancy of the Premises and using the Premises
for the permitted use set forth in the Lease Summary, Landlord agrees not to enter into any leases for space in the
Retail Space with persons or entities whose primary business at the Retail Space would be the sale of upscale
male and female fashion clothing, except for those retail spaces already operating on the Premises.
ARTICLE IV. ACCESS AND ENTRY.
~ ~ 4.1 Rioht of Examination. Landlord shall be entitled at all reasonable times and upon reasonable
~ otice (but no notice is required in emergencies) to enter the Premises to examine them if Landlord reasonably
. elieves that Tenant is not complying with any of its obligations hereunder: to make such repairs, alterations, or
improvements thereto as Landlord considers necessary or reasonably desirable; to have access to underfloor
facilities and access panels to mechanical shafts and to check, calibrate, adjust, and balance controls and other
parts of the heating, air conditioning, ventilating, and climate control systems. Landlord reserves to itself (and
others acting on behalf of Landlord including, without limitation, the City) the right to install, maintain, use, and
repair pipes, ducts, conduits, vents, wires, and other installations leading in, through, over, or under the Premises
and for this purpose, Landlord may take all material into and upon the Premises which is required therefor. Tenant
shall not unduly obstruct any pipes, conduits, or mechanical or other electrical equipment so as to prevent
reasonable access thereto. Landlord reserves the right to use all exterior walls and roof area. Landlord shall
exercise its rights under this section, to the extent possible in the circumstances, in such manner so as to minimize
interference with Tenant's use and enjoyment of the Premises and Tenant's property.
4.2 Rioht to Show Premises. Landlord and its agents have the right to enter the Premises at all
reasonable times and upon reasonable notice to show them to prospective purchasers, lenders, or anyone having
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a prospective interest in the Retail Space, and, during the last six (6) months of the Term (or the last six (6)
months of any renewal term if this Lease is renewed), to show them to prospective tenants. Landlord shall
exercise its rights under this section, to the extent possible in the circumstances, in such manner so as to minimize
interference with Tenant's use and enjoyment of the Premises and Tenant's property.
ARTICLE V. INITIAL CONSTRUCTION; MAINTENANCE, REPAIRS, AND ALTERATIONS.
5.1. Tenant's Construction ObliQations.
(a) Subject to the provisions hereof, Tenant shall, at its expense, cause the construction and
installation of all improvements to the Premises in accordance with T enanfs Plans, as hereinafter defined, and as
necessary to permit Tenant to occupy same and conduct normal business operations (such improvements being
referred to herein as" Tenant's Work").
(b) Within fifteen (15) days after the date of this Lease, Tenant, at Tenanfs expense, agrees
to furnish to Landlord a preliminary schedule of finishes and conceptual plan for the Premises. The preliminary
schedule of finishes and conceptual plan shall be subject to Landlord's review and approval, not to be
unreasonably withheld or delayed. Landlord shall notify Tenant in writing of its acceptance or of its objections to
the preliminary schedule of finishes and conceptual plan within ten (10) business days after such preliminary
schedule has been provided to Landlord. Should Tenant fail to submit the preliminary schedule of finishes and
conceptual plan within the time periOd set forth above, or should Tenant fail to make any reasonable modifications
Landlord may require within five (5) business days of notice thereof, then either such event shall be deemed to be
a default under this Lease.
(c) Within thirty (30) days after the date that Landlord approves the preliminary schedule of
finishes and conceptual plan, Tenant, at Tenanfs expense, agrees to fumish to Landlord a set of schematic
drawings (including an initial space plan), which shall also include as an attachment a schedule of finishes and
Tenant's proposed construction budget (the "Schematic Drawings") for Tenant's Work. The construction budget
shall include detailed descriptions of the scope of work and provide for a minimum expenditure by Tenant for
Tenant's Work. The Schematic Drawings shall be subject to Landlord's review and approval, not to be
unreasonably withheld or delay"d. Landlord shall notify Tenant in writing of its acceptance or of its objections to
the Schematic Drawings within ten (10) business days after the Schematic Drawings have been provided to
Landlord. Should Tenant fail to submit the Schematic Drawings within the time period set forth above, or should
Tenant fail to make any reasonable modifications Landlord may require within five (5) business days of notice
thereof, then either such event shall be deemed to be a default under this Lease. Tenant acknowledges that
submission of satisfactory Schematic Drawings is a condition to Landlord's entering into this Lease with Tenant
and that if Tenant fails to furnish Schematic Drawings acceptable to Landlord within the time periods set forth
herein, then, in such event, Tenant shall be in default under this Lease, and Landlord shall have the option to
declare this Lease null and void. The Schematic Drawings, as approved by Landlord, shall be incorporated herein
~y reference and made part of this Lease.
, (d) Within thirty (30) days after the date Landlord has approved the Schematic Drawings,
en nt, at Tenant's expense, agrees to furnish to Landlord a complete, detailed set of plans and specifications
th ugh the design development stage ("Tenant's Plans") for Tenant's Work, which shall include, without limitation,
working drawings, elevations, finish selections, and signage schematics, along with a separate scheduie
etailing Tenant's estimated expenditures in connection with Tenanfs Work (based on the construction budget
described above as supplemented to reflect the approved Schematic Drawings) and a list of the proposed
architect and engineer(s), interior design team, general contractor, and subcontractors. Tenant's Plans shall be
based on the approved Schematic Drawings and shall be in a form sufficient to obtain a building permit from the
City. Tenant's Plans shall be prepared by Tenanfs architect and engineer(s), which architect and engineer(s) shall
be subject to Landlord's prior written approval, not to be unreasonably withheld or delayed. If Tenant elects to
retain Landlord's architect and/or engineer(s), such architect and/or engineer(s) shall nonetheless be considered
to be Tenanfs agent(s) for purposes of this section 5.1. Tenant's Plans shall be subject to Landlord's reasonable
review and approval, which approval shall not be unreasonably withheld or delayed. Landlord shall notify Tenant in
writing of its acceptance or of its objections to Tenant's Plans within ten (10) business days after the Tenanfs
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Plans have been provided to Landlord. Should Tenant fail to submit Tenant's Plans within the time period set forth
above, or should Tenant fail to make any reasonable modifications Landlord may require within five (5) business
days of notice thereof, then either such event shall be deemed to be a delay caused by Tenant. Notwithstanding
Landlord's review and approval of Tenant's Plans, Landlord assumes no responsibility whatsoever, and shall not
be liable, for the manufacturer's, architect's, or engineer's design or performance of any structural, mechanical,
electrical, or plumbing systems or equipment of Tenant.
(e) Once Landlord approves Tenant's Plans, Tenant shall, within five (5) days, provide
Landlord with two (2) sets of Tenant's Plans (and any changes to Tenant's Plans and/or the approved construction
budget shall be made only by written addendum signed by both parties). Tenant's Plans, as approved by Landlord,
shall be incorporated herein by reference and made part of this Lease.
(f) Within thirty (30) days after the date Landlord has approved Tenant's Plans, Tenant, at
Tenant's expense, agrees to furnish to Landlord a complete and detailed set of construction documents in AlA
form, including all exhibits ("Tenant's Construction Documents") for Tenant's Work, which shall be prepared by
Tenant's architects. Tenant's Construction Documents shall be subject to Landlord's prior written approval, which
approval shall not be unreasonably withheld or delayed, and Tenant shall receive written notification of Landlord's
approval or objections to Tenar.t's Construction Documents. Should Tenant fail to submit Tenant's Construction
Documents with the period set forth above or should Tenant fail to make any reasonable modifications, Landlord
may request within five (5) business days of notice hereof, then either such event shall be deemed a delay caused
by Tenant. Notwithstanding Landlord's review of Tenant's Construction Documents, Landlord assumes no
responsibility whatsoever and shall not be liable with respect to any item contained therein.
(g) Once Landlord approves Tenant's Construction Documents, Tenant shall, within five (5)
days, provide Landlord with two (2) sets of Tenant's Construction Documents (and any changes to Tenant's
Construction Documents and/or the approved construction budget shall be made only by written addendum signed
by both parties).
(h) Tenant shall use only licensed contractors and subcontractors approved in writing by
Landlord to complete the construction and installation of Tenant's Work, which approval shall not be unreasonably
withheld or delayed. Within ten (10) days after the date hereof, Tenant shall provide to Landlord certificates of
insurance evidencing that Tenant has the required comprehensive general liability insurance required of Tenant
under the Lease. In addition, Tenant shall provide to Landlord certificates of insurance evidencing that Tenant's
general contractor has in effect (and shall maintain at all times during the course of the work hereunder) workers'
compensation insurance to cover full liability under workers' compensation laws of the State of Florida with
employers' liability coverage; comprehensive general liability and builde~s risk insurance for the hazards of
operations, independent contractors, products and completed operations (for two (2) years after the date of
acceptance of the work by Landlord and Tenant); and contractual liability specifically covering the indemnification
provision in the construction contract, such comprehensive general liability to include broad form property damage
and afford coverage for explosion, collapse and underground hazards, and "personal injury" liability insurance and
~ n endorsement providing that the insurance afforded under the contractor's policy is primary insurance as
espects Landlord and Tenant and that any other insurance maintained by Landlord or Tenant is excess and non-
contributing with the insurance required hereunder, provided that such insurance may be written through primary
or umbrella insurance policies with a minimum policy limit of $1,000,000.00. Landlord and Tenant are to be
included as an additional insured for insurance coverages required of the general contractor. Tenant shall inform
its contractor, subcontractors, and material suppliers that Landlord's interest in the Premises and the Retail Space
shall not be subject to any lien to secure payment for work done or materials supplied to the Premises on Tenant's
behalf and that Landlord has filed a notice in the public records of Dade County, Florida, to that effect. All
inspections and approvals necessary and appropriate to complete Tenant's Work in accordance with Tenant's
Plans and as necessary to obtain a certificate of use and occupancy as hereinafter provided are the responsibility
of Tenant and its general contractor. Tenant shall arrange a meeting prior to the commencement of construction
between Landlord and Tenant's contractors for the purpose of organizing and coordinaling the completion of
Tenant's Work.
I\CHMYS'DOHP\$ALLV,Ie'*1d..lAne/MIr G.ragelUlISlng\SUln FGHl\ADoIningufIl ~- FlNALdoc 7
(i) Once Tenant's Plans have been approved by Landlord, Tenant shall diligently pursue the
issuance of a building permit therefor. Tenant shall commence Tenant's Work (and shall be required to diligently
pursue same) upon receipt of the building permit. If Tenant has not commenced Tenant's Work by such date, or if
Tenant has not achieved Substantial Completion of Tenant's Work in accordance with Tenant's Plans, as
approved by Landlord, by the date set forth in the Lease Summary, then, in either such event, Tenant shall be in
default under this Lease, and L;mdlord shall have the option to declare this Lease null and void and exercise any
remedies available under this Lease. Should this Lease be declared null and void pursuant to this paragraph,
Tenant shall forfeit all rights to any deposits, advance rent, and any other payments made under this Lease, and
Landlord shall have no further liability to Tenant under this Lease. "Substantial Completion" of Tenant's Work shall
mean that Tenant's Work has been completed in accordance with the approved Tenant's Plans and that the
Premises are approved for use and occupancy by the appropriate governmental authorities and are in suitable
condition for the operation of Tenant's business.
(j) All of Tenant's Work shall be completed in a good and workmanlike manner and shall be
in conformity with the City's building codes and the South Florida Building Code, Dade Edition, and in accordance
with Landlord's construction rules and regulations pertaining to contractors. Upon completion of Tenant's Work,
Tenant shall furnish Landlord:
(1) a certificate of use andlor occupancy issued by the City and other evidence
satisfactory to Landlord that Tenant has obtained the governmental approvals necessary to permit occupancy; and
(2) a notarized affidavit from Tenant's contractor(s) that all amounts due for work
done and materials furnished in completing Tenant's Work have been paid; and
(3) releases of lien from any subcontractor or material supplier that has given
Landlord a Notice to Owner pursuant to Florida law; and
(4) as-built drawings of the Premises, with a list and description of all work performed
by the contractors, subcontractors, and material suppliers.
(k) Any damage to the existing finishes of the Retail Space shall be patched and repaired by
Tenant, at its expense, and all ~lJch work shall be done to Landlord's satisfaction. If any patched and painted area
does not match the original sunace, then the entire surface shall be repainted at Tenant's expense. Tenant agrees
to indemnify and hold harmless Landlord, its agents, and employees from and against any and all costs,
expenses, damage, loss, or liability, including, but not limited to, reasonable attorneys' fees and costs, which arise
out of, is occasioned by, or is in any way attributable to the build-out of the Premises or any subsequent
improvements or alterations by Tenant pursuant to this Lease. Tenant, at its expense, shall be responsible for the
maintenance, repair, and replacement of any and all items constructed by Tenant's contractor.
(I) Tenant shall not alter the existing fire alarm system in the Premises or the Retail Space.
t nant's Plans shall include detailed drawings and specifications for the design and installation of Tenant's fire
larm (and security) system(s) for the Premises. Such system(s) shall meet all appropriate building code
requirements, and the fire alarm system shall, at Tenant's expense, be integrated into Landlord's fire alarm system
for the Retail Space. (Landlord is not required to provide any security system.) Landlord's electrical contractor
andlor fire alarm contractor shall, at Tenant's expense, make all final connections between Tenant's and
Landlord's fire alarm systems. Tenant shall insure that all work performed on the fire alarm system shall be
coordinated at the jOb site with the Landlord's representative.
5.2 Maintenance and Repairs bv Landlord. It is hereby acknowledged and agreed that Landlord shall
maintain and repair certain portions of the Retail Space. Tenant will notify in writing of any necessary repairs Ihal
are the obligation of Landlord. Landlord shall not be responsible for any damages caused to Tenant by reason of
failure of any equipment or facilities serving the Retail Space or delays in the performance of any work for which
the Landlord is responsible to perform pursuant to this Lease. Notwithstanding any other provisions of this Lease,
if any part of the Retail Space is damaged or destroyed or requires repair, replacement, or alteration as a result of
the act or omission of Tenant, its employees, agents, invitees, licensees, or contractors, Landlord shall have the
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8
right to perform same and the cost of such repairs, replacement, or alterations shall be paid by Tenant to Landlord
upon demand. In addition, if, in an emergency, it shall become necessary to make promptly any repairs or
replacements required to be made by Tenant, Landlord may re-enter the Premises and proceed forthwith to have
the repairs or replacements made and pay the costs thereof. Upon demand, Tenant shall reimburse Landlord for
the cost of making the repairs. Landlord shall exercise its rights under this section in a manner so as to minimize
any disruption or interference with the operation of Tenant's business and property.
5.3 Maintenance and Repairs by Tenant. Tenant shall, at its sole cost, repair and maintain the
Premises exclusive of base building mechanical and electrical systems, all to a standard consistent with a first
class retail center, with the exception only of those repairs which are the obligation of the Agency Landlord
pursuant to this Lease. Without limiting the generality of the foregoing, Tenant is specifically required to maintain
and make repairs to (i) the portion of any pipes, lines, ducts, wires, or conduits contained within the Premises;
(iI) windows, plate glass, doors, and any fixtures or appurtenances composed of glass (including, without
limitation, interior and exterior washing of windows and plate glass); (iii) Tenant's sign; (iv) any heating or air
conditioning equipment serving the Premises ("HV AC") (which shall include, without limitation, a preventive
maintenance HVAC service contract. Such service contract shall include, without limitation, preventive HVAC
maintenance no less than quarterly); and (v) the Premises or the Retail Space when repairs to the same are
necessitated by any act or omission of Tenant, or the failure of Tenant to perform its obligations under this Lease.
All repair and maintenance performed by Tenant in the Premises shall be performed by contractors or workmen
designated or approved by Landlord, which approval shall not be unreasonably withheld or delayed. At the
expiration or earlier termination of the Term, Tenant shall surrender the Premises to Landlord in as good condition
and repair as Tenant is required to maintain the Premises throughout the Term, reasonable wear and tear
excepted. Tenant shall also furnish, maintain, and replace all electric light bulbs, tubes, and tube casings located
within or serving the Premises and Tenant's signage, all at Tenant's sole cost and expense.
5.4 Approval of Tenant's Alterations. No alterations (including, without limitation, improvements,
additions, or modifications to the Premises) shall be made by Tenant to the Premises without Landlord's prior
written approval, which, as to exterior or structural alterations may be withheld in Landlord's sole discretion. Any
alterations by Tenant shall be performed at the sole cost of Tenant, by contractors and workmen approved by
Landlord, which approval shall not be unreasonably withheld or delayed, in a good and workmanlike manner, and
in accordance with all applicable laws and regulations.
5.5 Removal of Improvements and Fixtures. All leasehold improvements and fixtures (other than
unattached, movable trade fixtures which can be removed without damage to the Premises) shall at the expiration
or earlier termination of this Lease become Landlord's property. Tenant may, during the Term, in the usual course
of its business, remove its trade fixtures, provided that Tenant is not in default under this Lease; and Tenant shall,
at the expiration or earlier termination of the Term, at its sole cost, remove such of the leasehold improvements
(except for improvements installed by Landlord prior to the Commencement Date) and trade fixtures in the
Premises as Landlord shall require to be removed and restore the Premises to the condition existing prior to such
removal. Tenant shall at its own expense repair any damage caused to the Retail Space by such removal. If
Tenant does not remove its trade fixtures at the expiration or earlier termination of the Term, the trade fixtures
~' shall, at the option of Landlord, hecome the property of Landlord and may be removed from the Premises and sold
disposed of by Landlord in such manner as it deems advisable without any accounting to Tenant.
~
5.6 Liens. Tenant shall promptly pay for all materials supplied and work done in respect of the
Premises by, through, or under Tenant so as to ensure that no lien is recorded against any portion of the Retail
Space or against Landlord's or Tenant's interest therein. If a lien is so recorded, Tenant shall discharge it promptly
by payment or bonding. If any such lien against the Retail Space or Landlord's interest therein is recorded and not
discharged by Tenant as above required within fifteen (15) days following written notice to Tenant, Landlord shall
have the right to remove such lien by bonding or payment and the cost thereof shall be paid immediately from
Tenant to Landlord. Landlc.;rd and Tenant expressly agree and acknowledge that no interest of Landlord in the
Premises or the Retail Space shall be subject to any lien for improvements made by Tenant in or for the Premises,
and Landlord shall not be liable for any lien for any improvements made by Tenant, such liability being expressly
prohibited by the terms of this Lease. In accordance with applicable laws of the State of Florida, Landlord has filed
in the public records of Dade County, Florida, a public notice containing a true and correct copy of this paragraph,
\'GI-Q\SYS~P\$ALL'AIeQnd"'\AllelIorG...ag."-'uIrlg\S"~" FQHI\ADomlrJGuezL_ FlNAL.do<:: 9
and Tenant hereby agrees to inform all contractors and material suppliers performing work in or for or supplying
materials to the Premises of the existence of said notice.
5.7 Utilities. Tenant shall pay to Landlord, or as Landlord directs, all gas, electricity, water, and other
utility charges applicable to the Premises as separately metered. In addition, Tenant's electrical equipment and
lighting shall be restricted to that equipment and lighting which individually does not have a rated capacity and/or
design load greater than the rated capacity and/or design load of the Retail Space. If Tenant's consumption of
electrical services exceeds either the rated capacity and/or design load of the Retail Space, then Tenant shall
remove the equipment and/or lighting to achieve compliance within ten (10) days after receiving written notice from
Landlord, or such equipment and/or lighting may remain in the Premises, so iong as (a) Tenant shall pay for all
costs of installation and maintenance of submeters, wiring, air-conditioning, and other items required by Landlord,
in Landlord's reasonable discretion, to accommodate Tenant's excess design loads and capacities; and (b) Tenant
shall pay to Landlord, within thirty (30) days after rendition of a bill, the cost of the excess consumption of electrical
service at the rates charged to Landlord by Florida Power & Light, which shall be in accordance with any
applicable laws.
ARTICLE VI. INSURANCE AND INDEMNITY.
6.1 Tenant's Insurance. Tenant shall, throughout the Term (and any other period when Tenant is in
possession of the Premises), maintain at its sole cost the following insurance:
(A) All risks property insurance, containing a waiver of subrogation rights which Tenant's
insurers may have against Landlord and against those for whom Landlord is in law responsible including, without
limitation, its directors, officers, agents, and employees, and (except with respect to Tenant's chattels)
incorporating a standard New Y?rk mortgagee endorsement (without contribution). Such insurance shall insure
property of every kind owned by Tenant in an amount not less than the full replacement cost thereof (new), with
such cost to be adjusted no less than annually. Such policy shall include as additional insureds Landlord and its
affiliates and any mortgagee of Landlord, the City, and any mortgagee of the Landlord in connection with a mortgage
on the Facility.
(6) Comprehensive general liability insurance. Such policy shall contain inclusive limits per
occurrence of not less than the amount specified in the Lease Summary; provide for severability of interests; and
include as additional insureds Landlord and its affiliates and any mortgagee of Landlord, the City, and any
mortgagee of Landlord in connection with a mortgage on the Facility.
(C)
legal requirements.
Worker's compensation and employer's liability insurance in compliance with applicable
(0) Business interruption insurance, sufficient to insure Tenant for no less than one (1) full
year of loss of business, with the Landlord named thereon as loss payee to the extent permitted by applicable law.
(E) Any other form of insurance which Tenant or Landlord, acting reasonably, requires from
. time to time in form, in amounts, and for risks against which a prudenl tenant would insure, but in any event not
Ie than that carried by comparable retail establishments in Dade County, Florida.
All policies referred to above shall: (i) be taken out with insurers licensed to do business in Florida
and reasonably acceptable to Landlord; (ii) be in a form reasonably satisfactory to Landlord; (Iii) be
non-contributing with, and shall apply only as primary and not as excess to any other insurance available to
Landlord or any mortgagee of Landlord; (iv) contain an undertaking by the insurers to notify Landlord by certified
mail not less than thirty (30) days prior to any material change, cancellation, or termination, and (v) with respect to
subsection (A), contain replacement cost, demolition cost, and increased cost of construction endorsements.
Certificates of insurance on La:ldlord's standard form or, if required by a mortgagee, copies of such insurance
policies certified by an authorized officer of Tenant's insurer as being complete and current, shall be delivered to
Landlord promptly upon request. If Tenant fails to take out or to keep in force any insurance referred to in this
section 6.1, or should any such insurance not be approved by either Landlord or any mortgagee, and Tenant does
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.
, .
not commence and continue to diligently cure such default within two (2) business days after written notice by
Landlord to Tenant specifying the nature of such default, then Landlord has the right, without assuming any
obligation in connection therewith, to effect such insurance at the sole cost of Tenant and all outlays by Landlord
shall be paid by Tenant to Landlord as additional rent without prejudice to any other rights or remedies of Landlord
under this Lease. Tenant shall not keep or use in the Premises any article which may be prohibited by any fire or
casualty insurance policy in force from time to time covering the Premises or the Retail Space.
6.2 Loss or Damaqe. Tenant acknowledges that the Landlord will be performing any maintenance and
repairs required of Landlord hereunder. Landlord shall not be liable for any death or injury arising from or out of any
occurrence in, upon, at, or relating to the Retail Space or damage to property of Tenant or of others located on the
Premises or elsewhere in the Retail Space, nor shall it be responsible for any loss uf or damage to any property of
Tenant or others from any caUS9, unless such death, injury, loss, or damage results from the gross negligence or
willful misconduct of Landlord. Without limiting the generality of the foregoing, Landlord shall not be liable for any
injury or damage to persons or property resulting from fire, explosion, falling plaster, falling ceiling tile, falling
fixtures, steam, gas, electricity, water, rain, flood, or leaks from any part of the Premises or from the pipes,
sprinklers, appliances, plumbing works, roof, windows, or subsurface of any floor or ceiling of the Retail Space or
from the street or any other place or by dampness, or by any other cause whatsoever, unless resulting from the
gross negligence or willful misconduct of Landlord. Tenant agrees to indemnify Landlord and hold it harmless from
and against any and all loss (including loss of Minimum Rent and additional rent payable in respect to the
Premises), claims, actions, damages, liability, and expense of any kind whatsoever (including attorneys' fees and
costs at all tribunal levels), unless caused by the gross negligence or willful misconduct of Landlord, arising from
any occurrence in, upon, or at the Premises, or the occupancy, use, or improvement by Tenant or its agents or
invitees of the Premises or any part thereof, or occasioned wholly or in part by any act or omission of Tenant its
agents, employees, and invitees or by anyone permitted to be on the Premises by Tenant.
6.3 Waiver of Subroqation. Landlord and Tenant each hereby waives on behalf of itself and its
insurers (none of which shall ever be assigned any such claim or be entitled thereto due to subrogation or
otherwise) any and all rights of recovery, claim, action, or cause of action, against the other, its agents, officers, or
employees, for any loss or damage that may occur to the Premises, or any improvements thereto or the Retail
Space, or any improvements thereto, or any personal property of such party therein, by reason of fire, the
elements, or any other causes which are, or could or should be insured against under the terms of the standard
fire and extended coverage insurance policies referred to in this Lease, regardless of whether such insurance is
actually maintained and regardless of the cause or origin of the damage involved, including negligence of the other
party hereto, its agents, officers, or employees. Landlord and Tenant shall each obtain from their respective
insurers, under all policies of fi,,,,, theft, public liability, worke~s compensation, and other insurance maintained by
either of them at any time during the term hereof insuring or covering the Retail Space or any portion thereof or
operations therein, a waiver of all rights of subrogation which the insurer of one party might have against the other
party, and Landlord and Tenant shall each indemnify, defend, and hold harmless the other against any loss or
expense, including reasonable attorneys' fees (appellate or otherwise) resulting from the failure to obtain such
waiver.
ARTICLE VII. DAMAGE AND DESTRUCTION.
7.1 Damaqe to Premises. Tenant acknowledges that if the Premises are partially or totally destroyed
due to fire or other casualty, any repairs to or rebuilding of the damaged portions of the Retail Space will be
performed by Landlord and in any event only to the extent that Landlord is required to repair or rebuild the Retail
Space. If Landlord repairs or rebuilds, Minimum Rent shall abate proportionately to the portion of the Premises, if
any, rendered untenantable from the date of destruction or damage until the repairs have been substantially
completed. Upon being notified that the repairs have been substantially completed, Tenant shall diligently perform
all other work required to fully restore the Premises for use in Tenant's business, in every case at Tenant's cost
and without any contribution to such cost by Landlord, whether or not Landlord has at any time made any
contribution to the cost of supply, installation, or construction of leasehold improvements in the Premises. Tenant
agrees that during any period of reconstruction or repair of the Premises, it will continue the operation of its
business within the Premises to the extent practicable. If all or any part of the Premises shall be damaged by fire
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or other casualty and the fire or other casualty is caused by the fault or neglect of Tenant or Tenant's agents,
guest, or invitees, rent and all other charges shall not abate.
7.2 Termination for Damaoe. Notwithstanding section 7.1, if damage or destruction which has
occurred to the Premises or the Retail Space is such that in the reasonable opinion of Landlord such
reconstruction or repair cannot be completed within one hundred twenty (120) days of the happening of the
damage or destruction, Landlord may, at its option, terminate this Lease on notice to Tenant given within thirty (30)
days after such damage or destruction and Tenant shall immediately deliver vacant possession of the Premises in
accordance with the terms of this Lease.
In addition, if Landlord undertakes the reconstruction or repair, and does not complete same within
nine (9) months after the date of the fire or other casualty (subject to the time required to prepare plans for
reconstruction, to obtain building permits, to receive distribution of insurance proceeds, and to complete the likely
contract bidding process and all other relevant factors, but not to exceed an additional ninety (90) days), then
Tenant shall have the right to terminate this Lease by written notice to Landlord delivered within thirty (30) days
after the expiration of such nine (9) month period (or as extended), whereupon both parties shall be relieved of all
further obligations hereunder, except as otherwise expressly set forth herein.
ARTICLE VIII. ASSIGNMENT, LEASES, AND TRANSFERS.
6.1 Transfer bv Tenant. Tenant shall not enter into, consent to, or permit any Transfer, as hereinafter
defined, without the prior written consent of Landlord in each instance, which consent may be granted or withheld
in Landlord's sole and absolute discretion for any reason or for no reason. For purposes of this Lease, ''Transfer''
means an assignment of this Lease in whole or in part; a sublease of all or any part of the Premises; any
transaction whereby the rights of Tenant under this Lease or to the Premises are transferred to another; any
mortgage or encumbrance of ttiis Lease or the Premises or any part thereof or other arrangement under which
either this Lease or the Premises become security for any indebtedness or other obligations: and if Tenant is a
corporation or a partnership, the transfer of a contrOlling interest in the stock of the corporation or partnership
interests, as applicable. If there is a permitted Transfer, Landlord may collect rent or other payments from the
transferee and apply the net amount collected to the rent or other payments required to be paid pursuant to this
Lease but no acceptance by Landlord of any payments by a transferee shall be deemed a waiver of any provisions
hereof regarding Tenant. Notwithstanding any Transfer, Tenant shall not be released from any of its obligations
under this Lease. Landlord's consent to any Transfer shall be subject to the further condition that if the Minimum
Rent and additional rent pursuant to such Transfer exceeds the Minimum Rent and additional rent payable under
this Lease, the amount of such excess shall be paid to Landlord. If, pursuant to a permitted Transfer, Tenant
receives from the transferee, either directly or indirectly, any consideration other than Minimum Rent and
additional rent for such Transfer, either in the form of cash, goods, or services, Tenant shall, upon receipt thereof,
pay to Landlord an amount equivalent to such consideration.
ARTICLE IX. DEFAULT.
9.1 Defaults. A default by Tenant shall be deemed to have occurred hereunder, if and whenever:
i) any Minimum Rent is not paid when due whether or not any notice or demand for payment has been made by
Landlord; (ii) any other additional rent is in arrears and is not paid within five (5) days after written demand by
Landlord; (Hi) Tenant has breached any of its obligations in this Lease (other than the payment of rent) and Tenant
fails to remedy such breach within thirty (30) days (or such shorter period as may be provided in this Lease), or if
such breach cannot reasonably be remedied within thirty (30) days (or such shorter period), then if Tenant fails to
immediately commence to remedy and thereafter proceed diligently to remedy such breach, in each case after
notice in writing from Landlord; (iv) Tenant becomes bankrupt or insolvent; (v) any of Landlord's policies of
insurance with respect to the Retail Space are canceled or adversely changed as a result of Tenant's use or
occupancy of the Premises; or (vi) the business operated by Tenant in the Premises shall be closed by
governmental or court order for any reason.
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9.2 Remedies. In the event of any default hereunder by Tenant, then without prejudice to any other
rights which it has pursuant to this Lease or at law or in equity, Landlord shall have the following rights and
remedies, which are cumulative and not alternative:
(A) Landlord may cancel this Lease by notice to Tenant and retake possession of the
Premises for Landlord's account, or may terminate Tenant's right to possession of the Premises without
terminating this Lease. In either event, Tenant shall then quit and surrender the Premises to Landlord. If Landlord
terminates Tenant's right to possession of the Premises without terminating this Lease, Tenant's liability under all
of the provisions of this Lease shall continue notwithstanding any expiration and surrender, or any re-entry,
repossession, or disposition hereunder.
(8) Landlord may enter the Premises as agent of Tenant to take possession of any property
of Tenant on the Premises, to store such property at the expense and risk of Tenant or to sell or otherwise dispose
of such property in such manner as Landlord may see fit without notice to Tenant. Re-entry and removal may be
effectuated by summary dispossess proceedings, by any suitable action or proceeding, or otherwise. Landlord
shall not be liable in any way in connection with its actions pursuant to this section, to the extent that its actions are
in accordance with law.
(C) If Landlord terminates Tenant's right to possession of the Premises without terminating
this Lease under subsection (A) above, Tenant shall remain liable (in addition to accrued liabilities) to the extent
legally permissible for all rent and all of the charges Tenant would have been required to pay until the date this
Lease would have expired had such cancellation not occurred. Tenant's liability for rent shall continue
notwithstanding re-entry or repossession of the Premises by Landlord. In addition to the foregoing, Tenant shall
pay to Landlord such sums as the court which has jurisdiction thereover may adjudge as reasonable attorneys'
fees with respect to any successful lawsuit or action instituted by Landlord to enforce the provisions of this Lease.
(0) Landlord may relet all or any part of the Premises for all or any part of the unexpired
portion of the Term of this Lease or for any longer period, and may accept any rent then attainable; grant any
concessions of rent, and agree to paint or make any special repairs, alterations, and decorations for any new
tenant as it may deem advisable in its sole and absolute discretion. Landlord shall be under no obligation to relet or
to attempt to relet the Premises ~xcept as expressly set forth below.
(E) If Landlord terminates Tenant's right to possession of the Premises without terminating
this Lease under subsection (A) above, and Landlord so elects, the rent hereunder shall be accelerated and
Tenant shall pay Landlord damages in the amount of any and all sums which would have been due for the
remainder of the Term (reduced to present value using a discount factor equal to the stated prime lending rate on
the date of Tenant's default by Landlord's then existing mortgagee or, if there is no mortgagee, by Citibank, NA,
New York). Prior to or following payment in full by Tenant of such discounted sum promptly upon demand,
Landlord shall use good faith efforts to relet the Premises. If Landlord receives consideration as a result of a
reletting of the Premises relating to the same time period for which Tenant has paid accelerated rent, such
consideration actually received by Landlord, less any and all of Landlord's cost of repairs, alterations, additions,
redecorating, and other expenses in connection with such reletting of the Premises, shall be a credit against such
. unted sum, and such discounted sum shall be reduced if not yet paid by Tenant as called for herein, or if
T ant has paid such discounted sum, such credited amount shall be repaid to Tenant by Landlord (provided said
c edit shall not exceed the accelerated amount).
(F) Landlord may remedy or attempt to remedy any default of Tenant under this Lease for the
account of Tenant and to enter upon the Premises for such purposes. No notice of Landlord's intention to perform
such covenants need be given Tenant unless expressly required by this Lease. Landlord shall not be liable to
Tenant for any loss or dan~age caused by the reasonable acts of Landlord in remedying or attempting to remedy
such default and Tenant shall pay to Landlord all expenses incurred by Landlord in connection with remedying or
attempting to remedy such default. Any expenses incurred by Landlord shall accrue interest from the date of
payment by Landlord until repaid by Tenant at the highest rate permitted by law.
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9.3 Costs. Tenant shall pay to Landlord on demand all costs incurred by Landlord, including attorneys'
fees and costs at all tribunal levels, incurred by Landlord in enforcing any of the obligations of Tenant under this
Lease. In addition, upon any default by Tenant, Tenant shall be also liable to Landlord for the expenses to which
Landlord may be put in re-entering the Premises; repossessing the Premises; painting, altering, or dividing the
Premises; combining the Premises with an adjacent space for any new tenant; putting the Premises in proper
repair; protecting and preserving the Premises by piacing watchmen and caretakers therein; reietting the Premises
(including attorneys' fees and disbursements, marshall's fees, and brokerage fees, in so doing); and any other
expenses reasonably incurred by Landlord.
9.4 Additional Remedies: Waiver. The rights and remedies of Landlord set forth herein shall be in
addition to any other right and remedy now and hereinafter provided by law. All rights and remedies shall be
cumulative and non-exclusive of each other. No delay or omission by Landlord in exercising a right or remedy
shall exhaust or impair the same or constitute a waiver of, or acquiescence to, a default.
9.5 Default by Landlord. In the event of any default by Landlord, Tenant's exclusive remedy shall be
an action for damages or injunction, but prior to any such action Tenant will give Landlord written notice specifying
such default with particularity, and Landlord shall have a period of thirty (30) days following the date of such notice
in which to cure such default (provided, however, that if such defauit reasonably requires more than thirty (30)
days to cure, Landlord shall have a reasonable time to cure such default, provided Landlord commences to cure
within such thirty (30) day period and thereafter diligently prosecutes such cure to completion). Notwithstanding
any provision of this Lease, Landlord shall not at any time have any personal liability under this Lease. In the
event of any breach or default by Landlord of any term or provision of this Lease, Tenant agrees to look solely to
the equity or interest then-owned by Landlord in the Retail Space, and in no event shall any deficiency judgment
be sought or obtained against Landlord. It is expressly understood that the obligations of Landlord under this
Lease are solely corporate obligations, and that, except for conversion, fraud, or willful misconduct, no personal
liability will attach to, or is or shall be incurred by, the incorporators, stockholders, officers, directors, or employees,
as such, of the Landlord, or of any successor corporation, or any of them, under or by reason of the obligations,
covenants, or agreements of Landlord contained in this Lease or implied therefrom: and, except for conversion,
fraud, or willful misconduct, that any and all such personal liability, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder,
officer, director, or employee, as such, or under or by reason of the obligations, covenants or agreements
contained in this Lease or implied therefrom are expressly waived and released as a condition of, and as a
consideration for, the execution of this Lease.
ARTICLE X. ESTOPPEL CERTIFICATE; SUBORDINATION.
10.1 Estoooel Certificate. Within ten (10) days after written request by Landlord, Tenant shall deliver in
a form supplied by Landlord, an estoppel certificate to Landlord as to the status of this Lease, including whether
this Lease is unmodified and in full force and effect (or, if there have been modifications, that this Lease is in full
force and effect as modified and identifying the modification agreements); the amount of Minimum Rent and
a itional rent then being paid and the dates to which same have been paid; whether or not there is any existing
or lIeged default by either party with respect to which a notice of default has been served, or any facts exist
ich, with the passing of time or giving of notice, would constitute a default and, if there is any such defauit or
f cts, specifying the nature and extent thereof; and any other matters pertaining to this Lease as to which Landlord
hall request such certificate. Landlord, and any prospective purchaser, lender, or ground lessor shall have the
right to rely on such certificate.
10.2 Subordination; Attornment. This Lease and all rights of Tenant shall be subject and subordinate
to any and all mortgages, security agreements, or like instruments resulting from any financing, refinancing, or
collateral financing (including renewals or extensions thereof), and to any and all ground leases, made or arranged
by Landlord of its interests in all or any part of the Retail Space, from time to time in existence against the Retail
Space, whether now existing or hereafter created. Such subordination shall not require any further instrument to
evidence such subordination. However, on request, Tenant shall further evidence its agreement to subordinate
this Lease and its rights under this Lease to any and all documents and to all advances made under such
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documents. The form of such subordination shall be made as required by Landlord, its lender, ground lessor, the
City. Tenant shall, if requested by Landlord, or a mortgagee, owner, or purchaser, or by any person succeeding to
the interest of such mortgagee, owner, or purchaser, as the result of the enforcement of the remedies provided by
law or the applicable instrument held by Landlord, such mortgagee, owner, or purchaser, automatically attorn to
and become the tenant of Landlord or any such mortgagee, owner, purchaser, or successor-in-interest, without
any change in the terms or other provisions of this Lease; provided, however, that Landlord, said mortgagee,
owner, purchaser, or successor shall not be bound by (a) any payment of rent or additional rent for more than
one (1) month in advance, or (b) any security deposit or the like not actually received by Landlord, such
mortgagee, owner, or purchaser, or successor, or (c) any amendment or modification in this Lease made without
the consent of Landlord, such mortgagee, owner, purchaser, or successor, or (d) any construction obligation, free
rent, or other concession or monetary allowance, or (e) any set-off, counterclaim, or the like otherwise available
against Landlord, or (I) any act or omission of any prior landlord (including Landlord). Upon request by Landlord,
said mortgagee, owner, or purchaser, or successor, Tenant shall execute and deliver an instrument or instruments
confirming its attornment.
Notwithstanding the foregoing, any such subordination of this Lease shall be conditioned on the Landlord
obtaining a nondisturbance agreement in favor of Tenant from all mortgagees and ground lessors regarding any
financings or overleases entered into by Landlord with respect to the Retail Space, and no subordination shall be
effective without a corresponding nondisturbance agreement.
ARTICLE XI. CONTROL OF RETAIL SPACE BY LANDLORD.
11.1 Use and Maintenance of Common Areas. Tenant and those doing business with Tenant for
purposes associated with Tenant's business on the Premises, shall have a non-exclusive license to use the
common areas for their intended purposes during normal business hours in common with others entitled thereto
and subject to any rules and regulations imposed by Landlord. Landlord shall use reasonable efforts to keep the
common areas in good repair and condition and shall clean the common areas when necessary. Tenant
acknowledges that any common areas of the Retail Space shall at all times be under the exclusive control and
management of Landlord. For purposes of this Lease, "common areas" shall mean those areas, facilities, utilities,
improvements, equipment, and installations of the Retail Space which serve or are for the benefit of tenants of
more than one component of the Retail Space and which are not designated or intended by Landlord to be leased,
from time to time, or which are provided or designated from time to time by Landlord and/or the City for the benefit
or use of all tenants in the Retail Space, their employees, customers, and invitees, in common with others entitled
to the use or benefit of same. Tenant acknowledges that the Garage portion of the Facility is not a part of the
Retail Space, and that Tenant has no right or license to use the Garage pursuant to this Lease. Any use by
Tenant or its invitees of the Garage is subject to the rules and regulations in connection therewith imposed by
Landlord (or successor owner) and/or the operator of the Garage. No portion of the garage is under Landlord's
control or supervision, and Landlord shall not be liable for any damage to automobiles of any nature whatsoever
to, or any theft of, automobiles or other vehicles or the contents thereof, while in or about the Garage.
11.2 Alterations bv Landlord. Landlord and/or the City may (but shall not be obligated to) (i) alter, add
0, ubtract from, construct improvements on, re-arrange, and construct additional facilities in, adjoining, or
ro imate to the Retail Space; (i1) relocate the facilities and improvements in or comprising the Retail Space or
er cted on the Land: (Iii) do such things on or in the Retail Space as required to comply with any laws, by-laws,
r gulations, orders, or directives affecting the Land or any part of the Retail Space; and (iv) do such other things
n or in the Retail Space as Landlord and/or the City, in the use of good business judgment determines to be
advisable, provided that notwithstanding anything contained in this section 11.2, access to the Premises shall be
available at all times. Landlord shall not be in breach of its covenants for quiet enjoyment or liable for any loss,
costs, or damages, whether direct or indirect, incurred by Tenant due to any of the foregoing; provided, Landlord
shall exercise its rights under this section in a manner so as to minimize any disruption or interference with the
operation of Tenant's business snd property.
11.3 Tenant Relocation. Landlord shall have the right, at any time upon sixty (GO) days' written notice to
Tenant, to relocate Tenant into other space within the Retail Space comparable to the Premises. Upon such
relocation, such new space sh<lll be deemed the Premises and the prior space originally demised shall in all
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respects be released from the effect of this Lease. If Landlord elects to relocate Tenant as above described, (i) the
new space shall contain approximately the same as, or greater usable area than the original space, (Ii) Landlord
shall improve the new space, at Landlord's sole cost, to at least the standards of the original space, (iii) Landlord
shall pay the reasonable costs of moving Tenant's trade fixtures and furnishings from the original space to the
new space, (iv) as total compensation for all other costs, expenses, and damages which Tenant may suffer in
connection with the relocation, including but not limited to, lost profit or business interruption, no Minimum Rent
shall be due or payable for the first two (2) full calendar months of Tenant's occupancy of the new space, and
Landlord shall not be liable for any further indirect or special expenses of Tenant resulting from the relocation,
(v) Minimum Rent and all other charges hereunder shall be the same for the new space as for the original space,
notwithstanding that the new space may be larger than the original space, and (vi) all other terms of this Lease
shall apply to the new space as the Premises, except as otherwise provided in this paragraph.
ARTICLE XII. CONDEMNATION.
12.1 Total or Partial TakinQ. If the whole of the Premises, or such portion thereof as will make the
Premises unusable for the purposes leased hereunder, shall be taken by any public authority under the power of
eminent domain or sold to pUblic authority under threat or in lieu of such taking, the Term shall cease as of the day
possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent
and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent and
all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less
than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall
cease only as to the part so taken as of the Taking Date, and Tenant shall pay rent and other charges up to the
Taking Date, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent
or charges paid for a period subsequent to the Taking Date. Minimum Rent and other charges payable to
Landlord shall be reduced in proportion to the amount of the Premises taken.
12.2 Award. All compensation awarded or paid upon a total or partial taking of the Premises or Retail
Space including the value of the leasehold estate created hereby shall belong to and be the property of Landlord
without any participation by Tenant; Tenant shall have no claim to any such award ba~ed on Tenant's leasehold
interest. However, nothing contained herein shall be construed to preclude Tenant, at its cost, from independently
prosecuting any claim directly against the condemning authority in such condemnation proceeding for damage to,
or cost of removal of, stock, trade fixtures, furniture, and other personal property belonging to Tenant and for
Tenant's moving expenses; provided, however, that no such claim shall diminish or otherwise adversely affect
Landlord's award or the award of any mortgagee.
ARTICLE XIII. PROMOTION.
13.1 Promotional Fund: Merchants' Association. Intentionally Omitted.
ARTICLE XIV. GENERAL PROVISIONS.
~ 14.1 Delav. Whenever a period of time is herein prescribed for the taking of any action by Landlord or
\ Te ant, as applicable, Landlord or Tenant, as applicable, shall not be liable or responsible for, and there shall be
'<e luded from the computation of such periOd of time, any delays due to strikes, riots, acts of God, shortages of
or or materials, war, or govemmental laws, regulations, or restrictions in the nature of a prohibition or
oratorium, or any bona fide delay beyond the reasonable control of Landlord or Tenant, as applicable. The
oregoing shall not apply to any payments of money due under this Lease.
14.2 HoldinQ Over. If Tenant remains in possession of the Premises after the end of the Term without
having executed and delivered a new lease or an agreement extending the Term, there shall be no tacit renewal of
this Lease or the Term, and Tenant shall be deemed to be occupying the Premises as a Tenant from month to
month at a monthly Minimum Rent payable in advance on the first day of each month equal to twice the monthly
amount of Minimum Rent payable during the last month of the Term, and otherwise upon the same terms as are
set forth in this Lease, so far as they are applicable to a monthly tenancy.
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14.3 Waiver; Partiallnvaliditv. If Landlord excuses or condones any default by Tenant of any obligation
under this Lease, this shall not be a waiver of such obligation in respect of any continuing or subsequent default
and no such waiver shall be implied. All of the provisions of this Lease are to be construed as covenants even
though not expressed as such. If any provision of this Lease is held or rendered illegal or unenforceable it shall be
considered separate and severable from this Lease and the remaining provisions of this Lease shall remain in
force and bind the parties as though the illegal or unenforceable provision had never been included in this Lease.
14.4 RecordinQ. Neither Tenant nor anyone claiming under Tenant shall record this Lease or any
memorandum hereof in any public records without the prior written consent of Landlord.
14.5 Notices. Any notice, consent, or other instrument required or permitted to be given under this
Lease shall be in writing and shall be delivered in person, or sent by certified mail, return receipt requested, or
overnight express mail courier, postage prepaid, addressed (i) if to Landlord, at the address set forth in the Lease
Summary; and (ii) if to Tenant, at the Premises or, prior to Tenant's occupancy of the Premises, at the address
set forth on the Lease Summary. Any such notice or other instruments shall be deemed to have been given and
received on the day upon which personal delivery is made or, if mailed, then forty-eight (48) hours following the
date of mailing. Either party may give notice to the other of any change of address and after the giving of such
notice, the address therein specified is deemed to be the address of such party for the giving of notices. If postal
service is interrupted or substantially delayed, all notices or other instruments shall be delivered in person or by
overnight express mail courier.
14.6 Successors: Joint and Several Liabilitv. The rights and liabilities created by this Lease extend to
and bind the successors and assigns of Landlord and the heirs, executors, administrators, and permitted
successors and assigns of Tenant. No rights, however, shall inure to the benefit of any transferee unless such
Transfer complies with the provisions of Article VIII. If there is at any time more than one Tenant or more than one
person conslituting Tenant, their covenants shall be considered to be joint and several and shall apply to each and
every one of them.
14.7 Caotions and Section Numbers. The captions, section numbers, article numbers, and table of
contents appearing in this Lease are inserted only as a matter of convenience and in no way affect the substance
of this Lease.
14.8 Extended MeaninQs. The words "hereof," "hereto," "hereunder," and similar expressions used in
this Lease relate to the whole of this Lease and not only to the provisions in which such expressions appear. This
Lease shall be read with all changes in number and gender as may be appropriate or required by the context. Any
reference to Tenant includes, when the context allows, the employees, agents, invitees, and licensees of Tenant
and all others over whom Tenant might reasonably be expected to exercise control. This Lease has been fully
reviewed and negotiated by each party and their counsel and shall not be more strictly construed against either
party .
14.9 Entire AQreement: GoverninQ Law: Time. This Lease and the Exhibits and Riders, if any, attached
hereto are incorporated herein and set forth the entire agreement between Landlord and Tenant conceming the
Pr ises and there are no other agreements or understandings between them. This Lease and its Exhibits and
Ri ers may not be modified except by agreement in writing executed by Landlord and Tenant. This Lease shall be
c nstrued in accordance with and governed by the laws of the State of Florida. Time is of the essence of this
ease.
14.10 No Partnershio. The parties hereby acknowledge that it is not their intention under this Lease to
create between themselves a partnership, joint venture, tenancy-in-common, joint tenancy, co-ownership, or
agency relationship. Acco,-ctingly, notwithstanding any expressions or provisions contained herein, nothing in this
Lease, whether based on the calculation of rentai or otherwise, shall be construed or deemed to create, or to
express an intent to create, a partnership, joint venture, tenancy-in-common, joint tenancy, co-ownership or
agency relationship of any kind or nature whatsoever between the parties hereto. The provisions of this section
shall survive expiration of the Term.
\\CH2\SYS'OOl-lP\SAll.,\Alelqlndl'll\Anch<)r Ga.-.g4lIl..$QlrlQ\$uilel FGHI'AOQmlngvez: 1._ F1NALdoc: 17
14.11 Quiet Eniovment. If Tenant pays rent and other charges and fully observes and performs all of its
obligations under this Lease, Tenant shall be entitled to peaceful and quiet enjoyment of the Premises for the
Term without interruption or interference by Landlord or any person claiming through Landlord.
14.12 Brokeraqe. Landlord and Tenant each represent and warrant one to the other that except as set
forth in the Lease Summary, neither of them has employed any broker in connection with the negotiations of the
terms of this Lease or the execution thereof. Landlord and Tenant hereby agree to indemnify and to hold each
other harmless against any loss, expense, or liability with respect to any claims for commissions or brokerage fees
arising from or out of any breach of the foregoing representation and warranty. Landlord recognizes the broker(s)
specified in the Lease Summary as the sole broker(s) with whom Landlord has dealt in this transaction and agrees
to pay any commissions determined to be due said broker(s).
14.13 Radon Notice. Chapter 88-285, Laws of Florida, requires the following notice to be provided with
respect to the contract for sale and purchase of any building, or a rentai agreement for any building:
"RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building
in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that
exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding
radon and radon testing may be obtained from your county public health unit.
14.14 Execution. This Lease has been submitted for discussion purposes only and shall not be deemed
an offer by either party to the other to enter into this Lease unless and until this Lease shall have been executed
by both parties, indicating their acceptance of the terms and conditions contained herein.
14.15 TRIAL BY JURY. LANDLORD AND TENANT EACH HEREBY WAIVES ITS RIGHT TO A JURY
TRIAL OF ANY ISSUE OR CONTROVERSY ARISING UNDER THIS LEASE.
EXECUTED as of the day and year first above written.
WITNESSES:
LANDLORD:
~I.,.f~
MIAMI BEACH REDEVELOPMENT AGENCY, a public
body corporate and politic
tf!
By:
4~'
CHAIRMAN
(u'
FORM & LANGUAGE
& FOR EXECUTION
\ICH~YS'DCll1P\SAL1."''''''''ndrIl\Andlo'~lI..e''inQ\&.IitesFGHlIADOtnlngu~ Lease FINAL.doe
18
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EXHIBIT "A"
Legal Description
Lots 8, 9,10,11,12 and 13, Block 57, Fisher's First Subdivision of Alton Beach, according to the Plat thereof, as
recorded in Plat Book 2, Page 77 of the Public Records of Dade County, Florida, together with all of 16th Street
(Avenue "C"), less and except the following described parcel:
BEGINNING at the Southwest corner of Block 54 of said Fisher's First Subdivision of Alton Beach Plat; thence
North 88" 0' 53" East along the South line of said Block 54, a distance of 443.08 feet, to the Southeast corner of
said Block 54; thence South 07" 35' 04" West, a distance of 96.26 feet, to a point of cusp with a tangent cur~e
concave to the Southwest; thence aiong the arc of said curve to the left, having a radius of 25.00 feet and a central
angel of 90' 00' 00", an arc distance of 39.27 feet, to a point of tangency; thence North 82" 24' 52" West, a
distance of 24.75 feet; thence South 88" 00' 53" West along a line 8.00 feet North of and parallel with, as
measured at right angles to the North line of Block 57 of said plat, a distance of 382.18 feet to a point on the
Easterly Right-of-Way line of Washington Avenue; thence North 01" 59' 11" West along said Easterly Right-of-Way
line, a distance of 62.00 feet to the Southwest corner of said Block 54 and the Point of beginning.
Said lands lying and being in the City of Miami Beach and containing 65,910 square feet (1.5131 Acres) more or
less.
ADominguez Lease FINAL.doc
EXHIBIT "B"
Site Plan of Retail Space and Location of Premises
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EXHIBIT "B-1"
ANCHOR SHOPS AND GARAGE
Description of Landlord's Work
April 9, 1998
Landlord will minimally provide the following improvements, consistent with the Project Plans and
Specifications (a copy of which has been provided to Tenant):
1. Storefront and Doors
. As shown on Project Plans and Specifications.
. Interior of storefront and doors to be finished with standard color (not to be modified by Tenant).
. Entry doors to be provided with hardware (not to modified by Tenant).
. Rear service door to be provided.
(Storefront sills are excluded.)
2. Ceiling
. Exposed to structure except bathroom.
. Ceiling included in bathroom (2'x 2' acoustic tile suspended).
3. Demising Walls (between tenant spaces)
. Metal studs at 3 o/a".
. Drywall with taped seams (UL Assembly U-485).
4. Exterior Walls
. Exposed, unfinished masonry or concrete.
5. Floor Slab
. Concrete slab included as per Project Plans and Specifications.
6. Plumbing
. Includes one ADA compliant bathroom with:
a. Standard lavatory and water closet.
b. VCT flooring.
c. 36" 1 y," dia. grab bar and 42" 1 Yz" dia. grab bar.
d. Walls to be painted drywall.
e. Accessories (mirror, paper dispenser, soap dispenser).
. Cold water domestic service (%" line).
. Grease waste connection (except spaces along 16'h Street).
. Condensate drainage (1 Yo" line).
. Natural gas service (except spaces along 16th Street).
7. Electrical
. For typical space, includes electric service as follows:
Food service tenant:
\\CH2\SYs\oOHP\SAl.L\AIeund...\AnChor G.-.ge\L8asing\SuitU FGHMDominguez. L.... FINAL-doc
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a. Four 3/0 CU in 2"C.
b. One 200 amp fusible disconnect switch with fuses 600 volt.
c. Four "Polaris" gutter taps (UL listed).
d. One sq. "D" NEHB 277/489 volt., 42 pole panel 225A.
e. One sq. "0" NQOD 120/208 volt. MCB 225A panel.
f. One 75 KV A transformer 480 to 120/208 volt.
g. Greenfield- 1 - 'I." + 2" with feeders to transformer.
h. Grounding conductor (transformer to CWP).
i. Nipples, lockouts, and fasteners at meter room.
Dry goods tenant:
a. Four #3/0 CU in 2"C.
b. One 100 amp fusible disconnect switch with fuses 600 volt.
c. Same as above.
d. Use 100 amp panel M.L.O.
e. Use 100 amp panel M.C.B.
f. Use 30 KV A transformer.
g. Use all 1- 'I.".
h. Same as "h" above.
i. Same as "j" above.
. Lighting is excluded.
. Exit signs are included.
8. Mechanical
. Bathroom exhaust as per Project Plans and Specifications.
. Air conditioning system (either split DX or package system with determination dependent upon tenant
space and as per Project Plans and Specifications) based upon one ton COOling per 300 sq. ft., based
upon the following criteria (with Trane or equivalent assumed):
a. Split DX U'ljt.Eauipment
1. Air handling units shall be fully insulated draw through type, with direct drive blower and
filter rack.
2. Air handlers shall match characteristics and capacities specified on schedules and shall
be provided with 1" throwaway filters.
3. Air cooled condensing units shall be of weatherproof construction, with galvanized steel
cabinets, hermetic compressor, internal high temperature motor overload protection, and
high effiCiency design. Units shall be supplied with sufficient refrigerant charge for a
complete functional system.
4. The system shall be provided with the following:
- Liquid line filter-<lryer sight glass and solenoid valve.
- Short cycle protection circuit for compressor.
- Disconnect switch.
- Proper vibration isolation as per plans or manufacturer's recommendations.
- Proper size refrigerant piping as per manufacturer's recommendations to provide listed
total and sensible MBH.
- Condensate drains wilh trap as per plans.
- Yz" thick armaflex fire retardant piping insulation on AlC condensate lines and %" thick
on refrigerant suction lines (paint while when exposed to sun light).
- Service valves on suction and liquid lines.
\\CH2\SYS\DOHP\SALL.Wexandra\Ancl'lor GlIrage\Leasing\Suites FGHAAOominguez Lea.. FINALdoc
ii
, ..
,
, .
b. Rooftop PackaQe Equipment
1. Combination heating and cooling rooftop units shall be completely factory assembled as a
unitary package consisting of electric cooling section, electrical heating section, air
handling-filtering section and complete controls section. Cabinet shall be of galvanized
weatherproof construction with floor providing backup protection to prevent water leakage.
Service access panels shall be furnished as standard to allow service and inspection of
internal components.
2. Cooling section shall be equipped with refrigerant circuits with multistage compressors
and crankcase heaters. The refrigeration system shall be factory charged, providing
stage cooling capacity. Minimum compressor protection shall include high pressure
control. low pressure control and anticycle control.
3. The electrical heating section shall be of heavy duty nickel-chromium elements with
automatic reset high limit control and unitary control processor staging. Electric heating
modules shall be UL listed.
4. Each unit shall have permanently lubricated motors with multiple blade fans. Motors shall
be equipped with overload protection and shall be mounted on removable panels for easy
access. Condenser air shall discharge vertically.
5. Provide 2" thick throwaway type air filters.
6. Include automatic fan shutdown control installed in RIA section of units.
. Excluded is any distribution (i.e., ductwork)
9. Fire Sorlnklers
. Lines and heads as required by code, with layout as per Project Plans and Specifications. (Changes,
if any, are Tenanfs obligation.)
10. Exterior Awninas
. Per Project Plans and Specifications. (Not to be modified by Tenant.)
11. Exterior Sians
. As per Signage Guidelines established by Landlord.
. Electrical junction box provided within storefront, to provide power with conduit from exterior box to
interior of Tenant space.
landlord reserves the right to modify its Project Plans and Specifications in response to building code
requirements and/or construction conditions.
Tenant is to assume full responsibility for any/or utility impact fees, connection fees/charges and/or deposits as
may be required in connection with Tenant's Work.
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iii
EXHIBIT "C"
RULES AND REGULATIONS
1. Security. Landlord may from time to lime adopt appropriate systems and procedures for the
security or safety of the Retail Space, any persons occupying, using, or entering the same, or any equipment,
furnishings, or contents thereof, and Tenant shall comply with Landlord's reasonable requirements relative thereto.
2. Return of Kevs. At the end of the Term, Tenant shall promptly return to Landlord all keys for the
Retail Space and Premises which are in the possession of Tenant. In the event any Tenant fails to return keys,
Landlord may retain $100.00 of Tenant's security deposit for locksmith work and administration.
3. Repair. Maintenance, Alterations. and Improvements. Tenant shall carry out Tenant's repair,
maintenance, alterations, and improvements in the Premises only during times agreed to in advance by Landlord
and in a manner which will not interfere with the rights of other Tenant's in the Retail Space.
4. Water Fixtures. Tenant shall not use water fixtures for any purpose for which they are not
intended, nor shall water be wasted by tampering with such fixtures. Any cost or damage resulting from such
misuse by Tenant shall be paid for by Tenant.
5. Personal Use of Premises. The Premises shall not be used or permitted to be used for
residential, lodging, or sleeping purposes or for the storage of personal effects or property not required for
business purposes.
6. Heavv Articles. Tenant shall not place in or move about the Premises without Landlord's prior
written consent any safe or other heavy article which in Landlord's reasonable opinion may damage the Premises,
and Landlord may designate the location of any such heavy articles in the Premises.
7. Bicvcles, Anim<lls. Tenant shall not bring any animals or birds into the Retail Space, and shall not
permit bicycles or other vehicles inside or on the sidewalks outside the Retail Space except in areas designated
from time to time by Landlord for such purposes.
8. Deliveries. Tenant shall ensure that deliveries of supplies, fixtures, equipment, furnishings, wares,
and merchandise to the Premises are made through such entrances, elevators, and corridors and at such times as
may from time to time be designated by Landlord, and shall promptly payor cause to be paid to Landlord the cost
of repairing any damage in the Retail Space caused by any person making improper deliveries.
9. Solicitations. Landlord reserves the right to restrict or prohibit canvassing, soliciting, or peddling in
the Retail Space.
10. Food and BeveraCles. Only persons approved from time to time by Landlord may prepare, solicit
ders for, sell, serve, or distribute foods or beverages in the Retail Space, or use the common areas for any such
purpose. Except with Landlord's prior written consent and in accordance with arrangements approved by
Landlord, Tenant shall not permit on the Premises the use of equipment for dispensing food or beverages or for
the preparation, solicitation of orders for, sale, serving, or distribution of food or beverages.
11. Refuse. Tenant shall place all refuse in proper receptacles provided by Tenant at its expense in
the Premises or in receptacles (if any) provided by Landlord for the Retail Space, and shall keep sidewalks and
driveways outside the Retail Space, and lobbies, corridors, stairwells, ducts, and shafts of the Retail Space, free of
all refuse.
12. Obstructions. Tenant shall not obstruct or place anylhing in or on the sidewalks or driveways
outside the Retail Space or in the lobbies, corridors, stairwells, or other common areas, or use such locations for
any purpose except access to and exit from the Premises without Landlord's prior written consent. Landlord may
\\CH2\SYS\OOHP\SALL\AIexandra\Anchor Garage\lealing&ites FGHl\ADominguez Lease FINAL.doc
remove at Tenant's expense any such obstruction or thing caused or placed by Tenant (and unauthorized by
Landlord) without notice or obligation to Tenant.
13. Proper Conduct. Tenant shall not conduct itself in any manner which is inconsistent with the
character of the Retail Space as a first quality retail center or which will impair the comfort and convenience of
other Tenanfs in the Retail Space.
14.
employees,
Premises.
Employees, Aoents, and Invitees. In these Rules and Regulations, "Tenanf' includes the
agents, inyitees, and licensees of Tenant and others permitted by Tenant to use or occupy the
15. Pest Control.i;, order to maintain satisfactory and uniform pest control throughout the Retail
Space, Tenant shall engage for its own Premises and at its sole cost, a qualified pest extermination contractor
either designated or approved by Landlord, who shall perform pest control and extermination services in the
Premises at such intervals as reasonably required or as may be directed by Landlord.
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EXHIBIT "D"
Prohibited Uses
1. In no event may the primary business at the Premises be the sale of coffee beans, coffee by the
cup, teas, espresso, or other related drinks containing coffee or tea (including, without limitation, so-called "coffee
cocktails," which are coffee drinks which have an alcohol content).
2. In no event may the primary business at the Premises be the sale of swimwear.
3. In no event may the primary business at the Premises be the sale of (i) motorcycle-related
clothing and accessories or (iI) clothing sold under the following brand names: Dolce & Gabbana; Versace Jeans
Couture; B.C.B.G.; Diesel; Replay; Polo Sport; Polo Jeans; and Ralph Lauren; and shoes sold under the following
brand names: Charles David; Calvin Klein; Kenneth Cole; SoHo Shoes; Via Spiga; and Milano.
4. In no event may the primary business at the Premises be the sale of smoothies, fresh-squeezed
juices, nutritional supplements or vitamins.
5. In no event may the primary business at the Premises be the sale of ice cream for take out
consumption.
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EXHIBIT "E"
Landlord's Signage Criteria
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UNCONDITIONAL COMPLETION GUARANTY
THIS UNCONDITIONAL COMPLETION GUARANTY (the "Guaranty") is made as of this
13th day of September, 2000, by Adolfo Dominguez, S. A.(the "Guarantor"), in favor of
the MIAMI BEACH REDEVELOPMENT AGENCY, a public body corporate and politic (the
"Landlord"), and is executed pursuant to that certain Anchor Shops at South Beach Retail Lease,
dated September 13 ,2000 (the "Lease"), between Landlord and Adolfo Dominguez
USA. Inc., a Florida limited partnership in foramtion (the "Tenant"). The Lease is with respect
to those certain Premises, as defIDed in the Lease, 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 Landlord's
entering into the Lease with Tenant, Guarantor hereby irrevocably and unconditionally
guarantees to Landlord the full and timely completion of Tenant's Work. This Guaranty shall be
effective until such date (the "Guaranty Expiration Date"), as Tenant shall have met the
following conditions: (i) Tenant shall have completed Tenant's Work as determined by
Landlord's receipt of a copy of a certificate of occupancy for the Premises issued by the Building
Department of the City of Miami Beach; and (ii) Tenant shall have commenced its business
operations in the Premises in accordance with the terms of the Lease.
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 Landlord against Tenant of any of
the rights and remedies reserved to Landlord pursuant to the provisions of the Lease. The
validity of this Guaranty shall not be terminated, affected or impaired by reason of any action
which Landlord may take or fail to take against Tenant or by reason of any waiver of or failure to
enforce any of the rights or remedies reserved to Landlord in the Lease or for any other cause or
. cumstance whatsoever.
This liability of Guarantor hereunder shall be primary and independent of the obligations
of Tenant, and Landlord may proceed against Guarantor without commencing any action against
Tenant. Landlord shall not be required to make any demand upon or pursue and exhaust any of
its rights or remedies against Tenant, before, simultaneously with, or after enforcing its rights or
remedies against Guarantor under this Guaranty; and Guarantor agrees that Landlord 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 Lease or any provision thereof and notwithstanding any assignment of interest
therein.
~
The Guarantor consents to all of the terms and provisions of the Lease, as the same may
be from time to time hereafter amended, and expressly waives (i) any and all notices of proof of
non-payment, non-performance or non-observance by Tenant of any covenant or provision of the
Lease, (ii) 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 Lease.
Landlord and Guarantor agree that in any action or proceeding brought by either
Landlord or Guarantor against the other on any matters whatsoever arising out of, under, or by
virtue of this Guaranty, Landlord 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 Tenant, the original of this Guaranty shall be marked as "cancelled" and returned to
Guarantor. This Guaranty shall inure to the benefit of Landlord, 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 Lease.
WITNESSES:
By: ~ ~(}I!Hv tJ..tJ1C- J A,
Name: f'FDtA;#(NJO .!P. r!J2~ a::
Title: -f~KJ'
Address:-#r..lW4n _I 'C8~~
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