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Agenda 06/22/2010 Item #16B 3 Agenda Item No. 1683 June 22, 2010 Page 1 of 40 EXECUTIVE SUMMARY Recommendation for the Community Redevelopment Agency to approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue leasing its current office space for a term of (24) twenty-four months, and authorize the Chairman to sign the Lease Agreement. (Fiscal Impact $23,046.00) OBJECTIVE: To approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue leasing its current office space (4069 Bayshore Drive) for a term of (24) twenty-four months, and authorize the Chairman to sign the Lease Agreement. CONSIDERA T10NS: The CRA currently leases office space at 4069 Bayshore Drive. The CRA and Palmyra Club Investors, LLC, a Florida Limited Liability Company previously entered into a Lease Agreement dated July], 2008. The payment ofrents has been assigned from the Landlord, Palmyra Club, Investors, LLC, a Florida Limited Liability Company, to Bank of Naples. The Bank of Naples warrant and represent to the Tenant that it is authorized to enter into this Extension and First Amendment to Lease Agreement by virtue of an Assignment of Rents dated June 27, 2006 recorded in O.R., Book 4063, Pages 3024, et seq., of the Public Records of Collier County, Florida. The current lease is scheduled to expire on June 30, 2010. The CRA has the option to extend the lease for (24) twenty-four months by executing the Extension and First Amendment to the Lease Agreement. The Extension and First Amendment to Lease Agreement reduces the base monthly rent through the extended term from $19.80 per square foot to $]0.02 per square foot. Except as provided in the Extension the lease dated July 1,2008 will remain in full force and effect according to the terms and conditions contained therein. FISCAL IMPACT: Total lease cost is $1 920.50/month or a total of $23,046.00/year, saving the CRA $22,597.00 per year. The CRA office lease is budgeted each fiscal year in the Bayshore Gateway Triangle CRA Fund (187) budget. GROWTH MANAGEMENT IMPACT: None. LEGAL CONSDERATlONS: The County Attorney worked with staff in the preparation of this Amendment, which is legally sufficient for Board action. The Board should be aware that this property is presently in foreclosure, which the owner of the property is contesting. When we attempted to have the Amendment signed off by both the owner and the Bank the owner refused, threatening the County with legal action if we proceeded with this extension. Although it is uncertain why the owner is taking this position, it is not uncommon these days for owners to engage in scorched-earth tactics when facing foreclosure. Since there is no present amicable solution to this issue, we are moving forward with this proposed extension hopeful that the matter will be resolved in time. -- JAK RECOMMENDATION: For the Community Redevelopment Agency to approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue ~ Agenda Item No. 16B3 June 22, 2010 Page 2 of 40 leasing its current office space for a term of (24) twenty. four months, and authorize the Chairman to sign the Lease Agreement. Prepared by: Jean Jourdan on June 3, 2010 Executive Director, Bayshore/Gateway Triangle Community Redevelopment Agency Agenda Item No. 1683 June 22, 2010 Page 3 of 40 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: Item Summary: 1683 Meeting Date: Recommendation for the Community Redevelopment Agency to approve an Extension and First Amendment to Lease Agreement for the 8ayshore Gateway Triangle CRA to continue leasing its current office space for a term of (24) twenty-four months, and authorize the Chairman to sign the Lease Agreement. (Fiscal Impact $23,046), 6/22/20109:00:00 AM Prepa red By Jean Jourdan Project Manager, eRA Date 618/20103:39:03 PM Approved By Jean Jourdan Project Manager, eRA Date 6/8/2010 3:16 PM Approved By David Jackson Executive Director, eRA Date 618/20105:15 PM Approved By OMS Coordinator Date County Manager's Office Office of Management & Budget 6/9/20103:55 PM Approved By Leo E. Ochs, Jr. County Manager Date County Managers Office County Managers Office 6/9/20105:15 PM Agenda Item No. 1683 June 22, 2010 Page 4 of 40 EXTENSION AND FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT TInS EXTENSION AND FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT entered into this _ day of June, 2010, between PALMYRA CLUB INVESTORS, LLC, a Florida Limited Liability Company by and through Bank of Naples under an Assignment of Rents dated June 27, 2006 more particularly described below (hereinafter referred to as "Landlord"), and the COLLIER COUNTY COMMUNITY REDEVEWPMENT AGENCY _ BA YSHORE GA TEW A Y TRIANGLE (hereinafter referred to as "Tenant"). WITNESSETH In consideration of the mutual covenants contained herein, and other valuable consideration, the parties agree as follows: WHEREAS, PALMYRA CLUB INVESTORS, LLC, and Tenant have previously entered into a Lease Agreement dated July I, 200B, a copy of which is attached hereto; and WHEREAS, the parties acknowledge that Bank of Naples enters into and executes this Extension and First Amendment to Lease Agreement pursuant to the provisions of an Assignment of Rents dated June 27, 2006, recorded in O.R Book 4063, Pages 3024, et seq., of the Public Records of Collier County, Florida; and WHEREAS, the Landlord and Tenant are desirous of extending the Expiration Date of the Lease Agreementto June 30, 2012; and WHEREAS, the Landlord and Tenant are also desirous of amending the Lease Agreement in the manner set forth below. NOW TIIEREFORE, in consideration of the covenants and conditions set forth herein, together with Ten Dollars ($10.00) and other valuable consideration, the Lease Agreement is amended as follows: I. The Expiration Date of the Lease Agreement as set forth is Section 1.8 is hereby extended to June 30, 2012. 2. Section l.J - Premises: Exhibit "A" is hereby amended and replaced by Revised Exhibit "A" (the "Premises"), a copy of which is attached hereto and incorporated herein. 3. Sections 1.2 and 1.3 -It is noted that payment for rent has been assigned from Palmyra Club Investors, a Florida Limited Liability Company, to Bank of Naples, whose address is 4099 Tamiarni Trail North, #100, Naples, Florida 34103. 4. Section 1.4 - The tenant is now solely Baysbore Gateway Community Redevelopment Agency, a component of the Collier County Community Redevelopment Agency, and Exhibit "B" is accordingly eliminated, 5. Section 1.10 - The Base Monthly Rent through the extended term is reduced to $10.02 per square ft., or $1,920.50 (one thousand, nine hundred, twenty dollars and 50/]00). The security deposit remains the same. Agenda Item No. 16B3 June 22, 2010 Page 5 of 40 6, Except as ex.pressly provided herein, the Lease Agreement dated July 1, 2008 by and between Palmyra Club Investors, LLC, and the Collier County Community Redevelopment Agency remains in full force and effect according to the terms and conditions contained therein, and said terms and conditions are applicable hereto except as expressly provided otherwise herein. IN WITNESS WHEREOF, the Landlord and Tenant have hereto executed this Extension and First Amendment to Lease Agreement the day and year first above written. AS TO LANDLORD: " ~~IL, Wi ss ( ignature) ~n+k, '"' fl. h/!.lIo w~~ ~ .A.l ~n Nt /ZA.(' Itness (Signature) ~-MKb- trlUl\ff. rin! Name} BANK OF NAPLES BY:~ MARY CONE, EVP, Bank of Naples AS TO THE TENANT: ATTEST: DWlGHT E. BROCK, Clerk COLLIER COUNTY COMMUNITY REDEVELOPMENT AGENCY By: , Deputy Clerk By: DONNA FIALA, CHAIRMAN Approved as to form and legal sufficiency: ~~~~ k Jeffrey A. K1atzkow ~ County Attorney 2 I EXHIBIT A 1.----------- I 4069 Bayshore Drive I CRA LEASE SPACE I Approx. 2300 sqft $10.02psf I I I B ull'i;j ,~o <ao , ~ " . , ~ " - , ro "' CD :. U - !E '" 0 . E b 0 N 0 . 0:: "' ... ~ c: o o r;:: !~:~ t I d! 5>< -..lO: '" .. - 0 ~ III ~E Ql 0 III 0 00:: Q.l:ll .. c: ::1_ 0..- - Ql III Ql "::IE Ql C:ll/l Ql CJ ,. ,. iii' ~'" o~ rN ~." ~:1. ~ !~ ~~ ~~ .,0 " Ql U ; !E !' 0 CD " U N !E ~ 0 "' CD U . IE !-- 0 ~ '" , ~ N CD U .. IE !' 0 ;, N :. N . ~ "' .. - :. I I I I ~ w I i o I u I I I I ;~; ~ I I I I I I B Agenda Item No. 1683 June 22, 2010 Page 6 of 40 ;~ .:.t :~ ir."" o;r-' ~, - ~ ~;: .,:!!..". ., H ~ ~ "'::. '" " ~z '" ~ Z "- -:: 1:1 '" .. J::.r. f-- i , -?( ;; >'" E!i -- -'(:4 ;: ~~ :..;,;el!:: Ei ",-:: ~ 2~ .-:::?:: >= " ~ I EXHIBIT I Agenda Item No. 1663 June 22, 2010 Page 7 of 40 COMMERCIAL LEASE ORIGINAl. THIS COMMERCIAL LEASE (hereinafter the "Lease") is made on this 1" cby of July, 200B, by and between PALMYRA CLUB INVESTORS, LLC, a Ploridalimited liability company, (hereinaflel: referred to as "Landlord") and the COILIER COUNTY COMMUNITY REDEVELOPMENT AGENCY - BA YSHORE GA TEW A Y TRIANGLE (hereinaflel: referred to "T '') as enant. In considel'lLtion of the rents, covenants and agreements set forth below, the parties hereby agree as follows: ARTICLE 1 INFORMATION PROVISIONS The following terms shall have meanings assigned hereby: 1.1 Premises: A portion of the real property located at 4069 Bayshore Dr. Naples, FL 34112 containing approximately 2300 square feet, as indicated on the sketch of the premises attached hereto as Exhibit "A" (the "Premises"), and incotpol'lLted herein, 1.2 Landlo%d: Palmyra Gub Investors, a Rorida limited liability company 1.3 Addt:ess ofLandlo%d for notice pw;poses under this Lease: Palmyra Club Investors LLC P.O. Box 112545 Naples, FL 34108 1.4 Tenant: Bayshore Gateway Triangle Community Redevelopment Agency, a component of the Collier County Community Redevelopment Agency, and non-excluS1ve use by Bphore Cultural Arts, Inc. as noted in attached Memonmcfum of Understanding (Exhibit "B"). 1.5 Addt:ess of Ten ant for notice p~ses under this Lease: 4069 Bayshore Drive Naples, FL 34112 1.6 Tenant's Trade Name: N/ A 1.7 Commencement Date; July 1,2008 1.8 Lease T..nn' following the Conunencement Date, expiring on June 30, 2010 (the "Expiration Date"), unless sooner terminated as herein provided. The Lease Term shall include any renewal or extension which may be exercised by T enam. This Lease shall be effective after both Landlord and Tenant execute it. 1.9 Permitted Use of the Premises. eRA office uses to include public and governmental meetings, conferenees. wo%kshops, events and public informational meetings. CRA is allowed to sublease any space und"" eRA use provided by this lease and any future addendums, as approved by the Landlonl. All oth"" use is prohibited without prior written consent of Landlord. 1.10 Initial Base Rent for Month. $3450.00 Three Thousand Four Hundred Fifty and no 100 1 Agenda Item No. 16B3 June 22, 2010 Page 8 of 40 1.11 Qpemtinll' Costs IPTo-rated based on percenta.g!' of ~e foot'lg,t:' under CRA controQ, Electricity, water, refuse pickup and basic maintenance are the responsibility of the Tenant 1.12 Guarantors. Bayshore G.tteway Triangle component of the Collier County Community Redevelopment Agency 1.13 Address of Guarantor($). 3301 Tamiami Trail East Naples, FL 34112 1.14 Securie;y D<:posit. $3450.00 \,\5 Pro~rty. The real property owned by Landlord which includes the Premises and located at 4069 Bayshore Drive Naples, Florida 34112 ARTICLE 2 PREMISES AND TERM 2.1 Premises. In consideration of the rents, covenants and agreements to be perfooncd by Tenant, Landlord hereby leases to T eDant and Tenant hereby rents from Landlord the Premises, subject to easements, restrictions and other matters of record, as of the date hereof. 2.2 J PO'e Months. The term "Lease Months" as used herein shall mean consecutive lWENTY FOUR (24) months periods commencing on the Commencement Date. 2.3 Tenant's Du", to Open for Business. (Intentionally Deleted] 2.4 SutteIlder ofp...m;...... At the expiration of the Lease Term, Tenant shall (i) surrender the Premises in the same condition as existed upon the Commencement Date, ordinary wear and tear excepted, unless Tenant elects not to remove trade fixtures, signs and other personal property at the end of the Lease Term, in which esse such improvements shall become the property of the Landlord, and (it) deliver all keys for and all combinations on locks, safes and vaults in the Premises, if any, to Landlord, 2.5 HoldiQg Over. If Tenant holds over or occupies the Premises after expiration of the Lease Term, or the earlier tennination of this Lease, without Landlord's prior written consent, the lease shall automatically become a month-to-month lease with the monthly rent in an amount which reflects the annual cost of living increase noted in Article 3.2. No extension of the Lease Term will be valid unless and until the same will be reduced to writing and signed by both Landlord and Tenant. 2.6 Qprion to Renew. Tenant shall have the option to renew this Lease for one additional year (the "Renewal Term"), provided (Q that at the time of exercising the option, Tenant is not then, or thereafter durmg the. balan~e of the Lease t~rm, in default hereunder; (ii) Tenant has not been late in the paym~t of rent ~c1uding the grace penod more than three (3) limes within the twelve (12) month penod preceding the exercise of the option; (iii) that written notice of the exercise of this 2 Agenda Item No. 16B3 June 22, 2010 Page 9 of 40 option is given by the Tenant to the Lo.ndlord at least one (I) month prior to the Expiration Date, and (iv) Landlord provides written notice to Tenant's request to renew this lease. ARTICLE 3 RENT 3.1 Bs:!t..During the Lease Term, Tenant covenants to pay to Landlord all of the Rent provided for herein, Rent shall be due on or before the first (1st) day of each month in advance, without demand, notice, deduction or setoff of any kind 3.2 Rent Amount and Schedule. The Parties acknowledge that the base rental amount under section 1.1 0 is due and payable along with and any escalations as specified below. An additional 5% annual cost of living increase shall be added to the base rent at the beginning of the second year of the lease. In the event Tenant clects to renew this Lease as provided for in Section 2.6, above, Tenant shall pay to Landlord the base monthly rent, plus an additional five percent (5%) for each Renewal Term. 3.3 Additional Rent. Any and all other sums of money or charges required to be paid by Tenant putSuant to the provisions of this Lease, whether or not the same be so designated, shall be considered as "Additional Rent", and shall be payable and recoverable in the same manner as Rent. 3.4 Past Due Rent and Additional Rent. [fTenant shall fail to pay, within ten (10) days from the date due, Rent, Tenant shall pay to Lo.ndlord, on demand, a bte charge of five percent (5%) of the bte amount. If Tenant shall fail to pay, within ten (10) days from the date due and Tenant's receipt of Lo.ndlord's proper written notice of the same, all other changes designated as Additional Rent, Tenant shall pay to Lo.ndlord, on demand, a late charge of five percent (5%) of the late amount. In the event Tenant fails to pay such late charge, such W1paid amOW1l:S .hall thereafter bear interest from the due date thereof to the date of payment at the highest rate chargeable by applicable law ("Applicable Rate"). 3.5 Expendirures bv Landlord If after the expiration of any applicable notice and cure periods, Landlord shall make any expenditure for which Tenant is liable under this Lease and Landlord provides Tenant with advance written notice of the same together with receipts and evidence of payment, the amount thereof shall be deemed Additional Rent due and payable by Tenant with the succeeding installment of Rent (W1less some other date is expressly provided herein for payment of such amount) together with interest at the Applicahle Rate. 3.6 Sal"",. Use and Ex,.;.e Taxes (Ibis Article Not Ap.plicable to eRA as T<"t\an(). Any sub-lessees submitted by the eRA and approved by the Landlord sball pay all sales, use and other axes imposed by any government authority upon the manufacture, sale, use, transmission, distribution or any other process necessary or incidental to the furnishing of sewer, water, and electricity, or any other utility services to the premises. Tenant shall pay, before delinquency, all personal property axes and assessments on the furniture, fixtures, equipment, and other property of Tenant located in the Premises and on any additions and improvements on the Premises belonging to Tenant. Tenant shan also pay, as. Additional Reot, all sales tax assessed against the Rent by governmental authority, even thnugh taxUlg statute or ordinance may purport to impose such sales tax against lAndlord. Tenant shall make the payment of sales tax on a monthly basis, concurrently with the payment of tbe Rent. 3.7 UtilitY.Service. Te~t .ha~ be responsible for and promptly and timely pay all charges for use or consumpnon of .1\ utility servJces used or consumed within the Premises, for the lease space noted 3 Agenda Item No. 1663 June 22, 2010 Page 10 of 40 in Exhibit A. If aoy such charges are not paid wheo due, Landlord may, at its option, pay the same, and any amount so paid by Laodlord shall thereupon become due to Landlord from Tenant as Additional Rent. Landlord reserves the right to install flow meters on the Wll.ter lines and chaJ:ge Tenant accordingly for its use of water. In no event shall Landlord be liable for an interroption or failure in the supply of any such utilities to the Premises, except in the event of Landlord's gross negligeoce or intentional actS or omissions. ARTICLES 4 USE OF PREMISES 4.1llK. Tenant shall use the Premises solely for the purpose of conducting business in accordance with Paragraph 1.9 hereof. Tenant shall not use, permit or suffer the use of the Premises for any other business or purpose. In the event Tenant desires to use the demised premises for any other use not specifically permitted herein, Tenant must first oblllin Landlord's written approval. Landlord _y arbitrarily and in its sole discretion, withhold consent to the sllll1e. 4.2 Intentionally Omitted. 4.3 Compl;.".... With J .o.ws and Regulations. Tenant shall, at Tenant's sole cost and expense, comply with alll2ws, statutes, ordinances, roles, and regulations (including orders concerning environmental protection) of all federal, state, county, municipal, and other applicable govenunental authorities, now in force, or which may hereafter be in force, pertaining to Tenant or its use of the Premises (collectively the "Regulations"). 4.4 Rules and R<;glJ!ations. (a)Tenant covenants to comply with the following: (1) No auction, fire, bankroptcy, going-out-of-business, relocation, or other distress sales may be conducted in the Premises. (2) Tenant will keep all mechanical apparatus free of vibration and noise that may be transmitted beyond the confines of the Premises that may wtre2sonably annoy or disrorb any persons occupying adjacent premises. This covenant shall restrict Tenant from utilization of any advertising medium which can be heard or experienced outside of the Premises, including, without limitiog the generality of the foregoing, fb.shing lights, search lights, loudspeakers, phonographs, radios, or televisions, No radio, television, or other communications antenna equipment or device is to be mowlled, attached or secured to any part of the roof, exterior surface or anywhere outside the Premises, (3) Tenant will keep the Premises and the outside areas adjoining the Premises, free from all insects, rodents, vermin, and other pests, litter, dirt, and obstruction and shall not sell merchandise on sidewalks. (4) All store floor area of Tenant, including vestibules, outside docks, entrances and exits; doors, fixtures, storefront windows, storefront window areas and plate glass shall be maintained in a safe, neat, and dean eondition and in accordance with all applicable fire and safety codes. (5) Tenant will not permit or suffer the Premises or the walls or floors thereof to be endangered by overloading. ' , 4 Agenda Item No. 1683 June 22, 2010 Page 11 of 40 (6) Tractor-trailers are to be removed from the loading areas immediately after unloading. IJ) All garbage and refuse shall be kept in the kind of containers designated by Landlord and shall be placed outside the Premises within said containers prepared for collection in such manner and at such rimes and places specified by Landlord. (b) Landlord reserves the right from time to time to suspend, amend or supplement the foregoing rules and regulations, and to adopt and promulgate additional reasonable rules and regulations applicable to the Premises, but only to the extent that such rules and regulations do not materially limit or interfere with Tenant's rights hereunder. Notice of such rules and regulations and amendments and supplements thereto, if any, shall be given to Tenant. (c) Tenant agrees to comply with all additional, amended and supplemental rules and regu1ations upon reasonable notice of the same &om Landlord. ARTICLE 5 OPERATING COSTS 5.1- 5.3. Intentionally Omitted. ARTICLE 6 INSURANCE 6.1 Insutance Coveragl' bv T ~n.llord. Landlord shall nWntUn during the Lease Term (and the cost thereof sh2lI be included in the Operating Costs), inswance for fire, flood, windstorm, vandalism and malicious mischief, insuring the improvements located on the Premises and all appurtenances thereto (excluding wall covering, floor covering and drapes). Landlord may also maintain at its sole cost and expense (i) rent or rent value insurance including an extended covenge endorsement with respect to the Premises in an amount equal to the annual Rent for the Premises; and (Ii) such other insurances as Landlord deems reasonably necessary or desirable to protect the Premises against loss. Payments for losses under any such insurance policies shall be made solely to Landlord. Notwithstanding the foregoing, if any loss sustained by Landlord is caused by the negligence of Tenant, its agents, servants, employees, licenses, invitees, or guests, then Tenant shall be liable to Landlord for the amount of the deductible under Landlord's insurance. Further, Landlord shall not be responsible for loss or damage to items for which Tenant is responsible, as is more fully set forth below. 6.2 Ins.....nr.e Cov~ bv Tell2nt. Tenant agrees to carry and keep in full force and effect: (A) bodily injury, public liability insurance on the Premi.es against the liability of Tenant and its authorized representatives arising out of or in connection with Tenant's use or occupancy of the premises, with limits of coverage on of not less than One Million Dollars ($1,000,000.00) per accident and injury or death; (8) property damage insurance in an amount not less than One Million Dollan ($1,000,000.00) for Tenant's personal property and fixtures; (C) workers compensation insurance in the maximum amount permitted under Florida law; (D) insurance against fire, flood and such other risks as are, from time to time, included in standard extended coverage insurance, including insurance against sptinkler damage, vandalism and malicious mischief for Tenant's personal proP':rty and fixtures; (R)'llate ga.'lS insurance covering all the plate glass of the Premises, ~ amounts sattsfactory to Landlot . The PJ:oceeds of such insurance, so long as this Lease remains in effect, .hall be used to repair or replace the fixtures and equipment so insured, for the full ~p~cement value (wtt!tout proVls,ion for coinsurance) of all of Tenant'8 merchandise, trade fixtures, TuntJS?, WIlD covenngs, carpellng, drapes, equipment and all other items of personal property of enant oeated on or WIthin the Premises. The replacement of any plate glass damaged or broken &om any cause whatsoever III and about the Premises shall be Tenant's responsibility. The public 5 Agenda Item No. 1663 June 22, 2010 Page 12 of 40 liability insw:ance policy under (A) above, shall name Landlord, any person, firms, or corporations designated by Landlord, as additional insured(s), and shall conl2in a clause that the insurer will not cancel or change the insurance without first giving Landlord ten (10) days prior written notice.. T eoant shall provide Landlord, upon request, with copies of the policies or certificate evidencing that such insurances are in full force and effect and stating the terms thereof. The limits of such insurance shall not, under any circumstances, limit the liability of Tenant hereunder. In the event Tenant fails to procure, mainl2in and/or pay for the insurance required by this Lease, at the times and for the dw:atioos specified in this Lease, Landlord shall have the right, but not the obligation, at any time and from time to time, after fifteen (15) fifteen days written notice ro Tenant, to procure such insurance aad/or pay for the premiums for such insurance, in which event Tenant shall repay Landlord immediately upon demand by Landlord as Additional Rent hereunder, all swns so paid by Landlord together with the interest at the Applicable Rate, together with any costs or expenses incurred by Landlord in connection therewith, without prejudice to any other rights and remedies of the Laadlord under this Lease. Each policy evidencing the insurance to be. carried by Tenant pursuant to this Lease shall contain a clause that such policy and the coverage evidenced thereby shall be primary with respect to any policies by Landlord and that any coverage carried by Landlord shall be excess insuraace. 6.3 Waiver of Subroglltion. Landlord and Tenant waive, unless said waiver should invalidate any such imlurance, their right to recover damages against each other for any reason whatsoeVer to the extent the damaged property owner recovers indemnicy &om its insurance carrier. 6.4 Tenant's Contractor's Insurance. Tenant shall require any contractor of Tenant performing work 00 the Premises to carry and mainl2in, at no expense to Landlord: (a) Comprehensive generalliabilicy insurance, including contractors liabilicy covenge, contractual liability coverage, completed operations coverage, broad form property damage endorsement, and contractor's protective liabilicy coverage to afford protection, with limits for each occurrence, of not less than One Million Dollars ($1,000,000.00) with respect to property damage, unless higher amounts are required by any applicable law; and (b) Workers' compensation or similar insurance form and amounts required by Florida and/or Federal law. 6.5 Increase in Fire Insurance Premium. Tenant agrees it will not keep, use, sell, or offer for sale in or upon the Premises, an arricle that may be prohibited by the standard form of fire and extended risk insurance policy. Tet1lU1t agrees to pay any increase in premiwns for fire and extended coverage insurance that may be charged during the Lease Term on the amount of such insurance which may be carried by Landlord on the Premises or the building of which they are a part, resulting from the type of merchandise sold by Tenant in the Premises, or resulting from Tenant's use of the Premises, whether or not Landlord has consented to the .ame. In determining whether increased premiums are the result of Tenant'. use of the Premises, a schedule issued by the organization making the insurance rate on the Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which makc up the fire insurance nte on the Premises. Tenant agrees to prompdy make, at Tenant's sole cost, any repairs, alterations, changes and/or improvements to equipment in the Premises as to any condition created by the Tenant or exi.sting after the date of this Lease re<juired by the company issuing Landlord's fire insurance so as to avoid the canee1lation of. or the inccease in premiums on said insurance. 6 Agenda Item No, 1683 June 22, 2010 Page 13 of 40 ARTICLE 7 MAINTENANCE, REPAIR AND ALTERATIONS 7.1 M.;ntenance Obligations. (a) Tenant agrees that, from and after the Commencement Date, and until the expiration of the Lease Term, Tenant will be responsible for all repain, maintenance and replacements to all interior portions of the Premises under this lease and control of the CRA as shown in Exhibit A (or as amended), and those certain exterior portions of the Premises specifically identified herein as being the Tenant responsibility, including but not limited to, the interior and exterior portions of all doors, windows, and plate glass on the Premises; the mechanical, plumbing, heating and electrical equipment and systems servicing the Premises that are located in, or on the Premises; partitions and all other fixtures, appliances, grease traps and facilities furnished by Tenant or Landlord. Notwithstanding anything to the contrary contained herein, Tenant shall not be responsible for repair, maintenance, or replacement of the structural components of the Premises, including exterior foundations, the roof and structural portions of the Premises, the mechanical and plumbing equipment and other systems servicing the Premises that are located adjacent to the Premises, or any other exterior portion of the Premises not specifically identified herein, except to the extent that Tenant's proportionate ,hare of costs incurred by Landlord to repair, maintain or replace any structural component or other such component of the Premises shall be chargeable to Tenant. Tenant shall not be responsible for repair of any damage caused by any act or gross negligence of Landlord, its employees or agents. Tenant shall be required to make structural repairs or alterations to the Premises that may be required by any Regulations. Landlord, without notice, may, but shall not be obligated to, perform Tenant's obligations and add the cost of such work to thc next installment of Rent due hereunder. (b) Tenant will not install any equipment that exceeds the capacity of the utility lines leading into the Premises or the building of which the Premises constitute a portion. (c) Tenant, its employees, or agents, shall not undertake any alterations which would require permitting or authorization from any governmental body or entity withour Landlord's written consent. (d) Tenant shall give Landlord prompt written notice of any accident, fire or damage occurring on or to the Premises or to any defects therein or in any fixtures or equipment. (e) Neither Landlord nor Landlord's agents or servants shall be liable for any damages caused by, or growing out of any breakage. leakage, or defective condition of the electric wiring, air conditioning or beating pipes and equipment, closets, plumbing, appliances, sprinklers, other equipment, or other facilities, serving the Premises, except for the gross negligence or intentional ..cts or omissions of Landlord. Neither Landlord nor Landlord's agents shall be liable for any damages caused by or growing out of any defect in the Premises or any part thereof for fire, rain, wind, or other cau.e, except for the gross negligence or intentional acts or omissions of Landlord. (f) All property belonging to Tenant shall be there at the risk of Tenant or such other person only, and Landlord shall not be liable for damage thereto or theft or misappropriation thereof, except for the gross negligence or intentionaJ acts or omissions of Landlo.rd.. (g) JnrentionaUy Omitted. 7.2 Alt_lion:' bv Tenant. Tenant will not make any alterations, renovations, improvements or other ,nstaU.t1ons 10 or to any part of the Premises (Including, without limitation, any alterations of 7 Agenda Item No, 1683 June 22, 2010 Page 14 of 40 the store&ont, signs, strUCturllt alterations, or any cutting or drilling into any part of the Premises or any securing of any fixture, appazarus or equipment of any kind to any parr of the Premises), unless and until Tenant shall have caused plans and specifications therefore to have been prepared, at Tenant's expense, by an architect or other duly qualified person and shall have obtained Landlord's written approval thereof. If such approval is granted, Tenant shall cause the work described in such plans and specifications to be performed, at its el<pense, promptly, efficiently, competently and in a good and workmanlike manner by duly qualified or licensed persons or entities. All such work shall comply with an applicable local and st2te building, health and safety codes. 7.3 Prc:;paration of Premises b.y T ..ndlord. Intentionally Omitted. 7.4 Renovation and Change. If at any time the building of which the premises are parr undergoes renovation and change, Tenant shall use its best efforts to f.cilit2te the Landlord's and other Tenant's activities and work provided that it does not unreasonably interfere with Tenant's use of the Premises. If any lawful authority, law or code requires Landlord to install any fixture ot service for the benefit of the premises occupied by Tenant, Landlord shall pay the cost for same. ARTICLE 8 FJ:':h.'TURES, PERSONAL PROPERTY AND SIGNS 8.1 Fixtures and Personal Property. Any trade fixtures, signs and other personal property ofT enant removed from the Premises by the Tenant at the end of the Lease Term shall remain the property of Tenant. All imptovements to the Premises by Tenant not removed by Tenant at the end of the Lease Term, including, but not limited to, light fixrutes, floor coverings and partitions, but excluding trade fixtures and signs, shall become the property of Landlord upon the expiration or earlier termination of this Lease. After removing any trade fixtures, signs and other imprO\'ements or personal property of Tenant from the Premises, Tenant shall restore the Premises to the same condition as existed at the Commencement Date, ordinary wear and tear excepted. 8.2 SignLTenant may erect a sign within the area designated by Landlord, which sign shall be subject to the prior written approval of all applicable local govenunent agencies, as required. Tenant will not place, without Landlord's prior written approval, or permit to be placed or maintained 00 any exterior door, wall or window of the Premises any sign, awning or canopy, or advertising matter or other thing of any kind, and will not place or maintain any decoration, letter or advertising matter on the glass of any window or door. Any such signs, awning, canopy, decoration, lettering, advertising 111lItter or other thing as may be approved by Landlord, shall be maintained in good condition and repair at all times and shall conform to the criteria established from time to time by Landlord. As long as Tenant doe. not advertise any clothing or memorabilia 00 the frontage of the Premises, and is in accord with applicable regulations regarding same, Tenant is permitted to decorate as it deems fit. Notwithstanding anything herein to rhe contrary, Tenant agrees to indemnify and hold Landlord hannless from and against any aod all fines, claims, losses, and expenses (mduding reasonable attorney fees and costs) that may arise as a result of Tenant's failure to comply with any and all governmental regulations pertaining to Tenant's signage. ARTlCLE 9 ASSIGNING, MORTGAGING, SUBLETfING, CHANGE IN OWNERSHIP 9.1 Con..,.cttt Required. '~ enant shall not sell, transfer, assign, sublet, enter into any license, management or ~OnCe9$10n. agreements, chaol?" ownership, pledge, mortgage or hypothecate this Lease,. or Tenants mterest In and to the Pre1TUses (hereafter referred to as a "Disposition") without the pfJO~ wntten consent of Lan~lord.which may be arbitrarily and unreasonably withheld. Any dispositIOn WIthOut th~ Landlord s wntteo consenr shan be void and confer no rights upon any third person. NotwIthstanding any provision of this Agreement, should T eoant wish to make a 8 Agenda Item No. 16B3 June 22, 2010 Page 15 of 40 Disposition hereunder, it shall provide financial documentation suitable to Landlord illustmting the creditworthiness :and sbbility of the prospective new Tenant (or owner of Tenant in the event the ownenhip of Tenant changes). Tenant shall provide Landlord with written notice of :any intended Disposition. Nothing in this pllfllgraph shall relieve or release Tenant and any Guarantor from its covenants and obligations for the Lease Term, including any option period. No interest in this Lease shall pass to any trustee or receiver in bankruptcy, to any esbte of Tenant, to any assignee to Tenant for the benefit of creditors, or to any other party by operation of u..w or otherwise without Landlord's written consent If this Lease is assigned, or if the Premises or any part thereof is sublet or occupied by any party other than Tenant, Landlord may collect rent from the assignee, tenant or occupant, and apply the net amowit collected to the rent herein reserved, but no such assignment, subletting, occupancy, or coUection sholl be deemed a waiver of this covenant, or the acceptance of the assignee, tenant or occupant as tenant, or a release of Tenant from the further perfonnance by Tenant of the covenants herein conbined. This prohibition against a Disposition shall be construed to include a prohibition aga.inst any assignment or subleasing by operation of law, legal process, receivership, bankruptcy or otherwise, whether voluntary or invoiunbty and a prohibition against any encumbrance of all and any part of Tc:nanr's leasehold interest in the Premises. 9.2 C~ in Ownership (Ibis Article Not 1\ppIia.ble to CRA as Tenant).1\ny sub-leases submitt by the CRA and approved by the Landlord, without limiting the foregoing, if sub-tenant is a corporation, an incorporated assoaation or partnership, the transfer, assignment or hypothecation of any stock or interest in the corporation, association, or partnership in the aggregate of forty-nine percent (49%) or less sholl not be deemed a Disposition for purposes of this Lease. ARTICLE 10 QUIET ENJOYMENT 10,1 Landlord's Covenant. Provided Tenant timely pays Rent, 1\dditional Rent and aU other amounts required by this Lease, and observes and performs oll the covenants, terms and conditions of this Lease, Tenant shall peaceably and quietly hold and enjoy the Premiscs for the Lease Term without interruption by Landlord or any person or persons claiming by, through or under Landlord, subject to the terms and conditions of this Lease. ARTICLE 11 D1\MAGE AND DESTRUCTION 11.1 D3lDlIgC to Premises. (a) I f the demised Premises are, or any part thereof shall be damaged by fire or other casualty, Tenant sholl give immediatc notice thereof to Landlord :and this Lease shall continue in full force and effect except as hereinafter set forth; (b) [f the demised Premises are partially damaged or rendered partially unusable by fire or other casualty insured under the coverage obtained by the Landlord, the damages thereto shall be repaired by :and at the expense of the Landlord and the Tenanr sholl receive a pro-rara Rent abatement hased on the portion of the Premises rendered partially unusable until such time as the Premises are restored; (c) If the demised Premises are torally damaged or rendered wholly unusable by fire or other casualty, then the Rent shall be proportionally paid up to the time of the casualty and thenceforth sholl cease until the date when the Premises shall have been repaired and restored. Landlord shall restore the Premises, provided that insurance proceeds are sufficient to rebuild the Premises. and Landlord is paid Rent frum its busi~ess int~~ptiml insurance; or (d) If the demised Premises are rendered wholly unusa.ble or, lf the building be so damaged that the Landlord shall decide to demolish it or rebuild it, then, ~ such ~ents, Landlord or Tenant lruly elect to terminate this Lease by written notice to the other given WIthin 30 days of such fire or casualty specifying a date for the expiration of the Lease ;hich will not be more than 3.0 days after giving such notice, and upon the date specified in such ' once the term of the Lease will expue fully and completely as if such date were the date set forth 9 Agenda Item No, 16B3 June 22, 2010 Page 16 of 40 above for the termination of this Lease, In such event, T el1llnt will forthwith quit, surrender and vacate the Premises without prejudice however to Landlord's rights and remedies against Tenant under the Lease provisions in effect prior to such termination, and any Rent owing will be paid up to such date, and any payment of Rent made by Tenant which were on account of any period subsequent to such date will be returned to Tenant. Unless Landlord will serve a termination notice as provided for herein, Landlord will make the repairs and restorations under the conditions of (b) and (c) hereof, with all reasonable expedition, subject to delays due to adjustment of insU!llnce claims, bbor troubles, and causes beyond Landlord's control After any such casualty, Tenant will cooperate with Landlord's restoration by removing from the Premises as promptly as possible, all of Tenant's salvageable inventory and moveable equipment, furniture and other property. Nothing conWned hereinabove will relieve Tenant from any liability that may exist as a result of damage from fire or other casualty. Tenant acknowledges that Landlord will not carry insurance on Tenant's inventory and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by the Tenant, and agrees the Landlord will not be obliged to rep11ir any damage thereto or replace the same, except in the event of gross negligence or intentional acts or omissions of Landlord. Except as expressly provided herein to the contrary, this Lease shall not terminate nor shall there be any abatement of Rent or other charges or items of AdditionAl Rent as a result of a fire or other casualty which is the fault of, or caused by the Tenant Except as provided for in this Lease, the Tenant does not have the right to cancel or terminate this Lease. ARTICLE 12 EMINENT DOMAIN 12.1 Condemnation In the event that ""y portion of the Premises shall be appropriated or taken under the power of eminent domain by any public or quasi-public authority, this Lease shall terminate and expire as of the date of such uking, and both Landlord and Tenant shall thereupon be released from any further liability, and Tenant shall have no claim against Landlord for the value of any unexpired Lease Tenn. In the event more than ten percent (10%) of the gross square footage of floor aWl of the Premises is taken under the power of eminent domain by any public or quasi-public authority, or if by reason of any appropriation or taking, regardless of the amount so taken, the remainder of the Premises is not usable for the purposes for which the Premises were leased, then the Landlord shall have the right to tenninate this Lease as of the date Tenant is required to vacate, upon giving notice in writing of such election within sixty (60) days after the date of such taking. In the event of such termination, both Landlord and Tenant shall thereupon be released from any further liability to each other. Landlord affirmatively represents that, as of the Commencement Date, it has received no notification that th~ Premises is to b~ appropriated or taken under the power af eminent domain. 12.2 D.mq~. Whether ar not this Lease is terminated, Landlord shall be entided to th~ entire award or compensation ('Award") in any condemnation proceedings, but nothing her~in shall be de~med to affect Tenant's right to pursue from the condemning autharity, but not from Landlord, above, compelWltion fot the value afTenant's interest in the Lease and the improvements canstructed by Tenant on the Premises, including all items of Rent, Additional Rent, Security Deposit, and other charges for the last manth of Ten ant's occupancy, and Landlord agre~s to refund w Tenant an)' Renr. .Additional Rent or ocher charges paid in advance. 12.? Restorlltion. If this r .case is not t~rminated, Tenant shall remain in that partion of the Premises which shall not have been appropriated o.r taken, and Landlord agrees, to the extent of the proceeds af th~ A~ as soon as reason2~ly pOSSIble, to restore the remaining portian of the Premises to a similar quo.lity and character as eXlst~d pnor to. such appropriation ar taking. 10 Agenda Item No. 1683 June 22, 2010 Page 17 of 40 Thereafter, Rent shall be adjusted on an equitable basis, taking into account the relative value of the portion taken as cOtnp1lred to the portion remaining. For the purpose of this Article, a voluntary sale or conveyance in lieu of condemnation, but under threat of condemnation, shall be deemed an appropm.tion or taking under the power of eminent domain. ARTICLE 13 LIENS 13.1 LiroLTeoant hereby acknowledges that the interest of Landlord in the Premises shall not be subject to liens for improvements made by Tenant. In confirmation of the foregoing, nothing contained in this Lease shall be construed as consent on the part of Landlord to subject the estate of Landlord to such liability. Tenant shall strictly comply with the construction lien laws of the State of Florida. In the event that a claim of lien is filed against the property in connection with any work performed by or on behalf of Te:nant, Tenant shaD satisfy such claim, or shall ttllnsfer the same to security, within fifteen (I S) days from the date: of written notification from Landlord of the fi1ing of a claim of lien. In the e:vent that Tenant fails to satisfy or lrlInsfer such claim within said ten (10) day period, Landlord may do so and thereafter charge Tenant, as Additional Rent, all costs incurred by Landlord in connection with satisfaction or transfer of such claim, including aD its attome:ys' fees. Further, Tenant agrees to indemnify. defend and hold Landlord harmless from and against any damage or loss incurred by Landlord as a result of any such claims of lien. If so requested by Landlord, Tenant shall execute a short form or memotllfldum of this Lea.e. which may. in Landlord's discretion be recorded in the Public Records for the purposc of protecting Landlord's estate from claims of lien, as provided in Florida Statutes. This ~ph shall survive the expiration of the Lease Term or the earlier termination of this Lease. ARTICLE 14 DEFAULT 14.1 Eve:nts of Default. The: occurrence of anyone or more of the: following events shall constitute an "Event of Default" and breach of this Lease by Tenant (a) If Tenant fails to pay, on or before ten (10) days after the date due, Rent, Additional Rent or any other charge requited to be paid by Tenant under this Lease; or, (b) lfTenant fails to promptly and fully perform any other covenant, condition, rule, regulation or agreement contained in this Lease, or perform within the time periods set forth in this Lease, and such failure continues for fifteen (15) days; or (c) If a writ of attachment or execution is levied on this Lease or on any of Tenant's property located within the Premises; or (d) If Tenant makes a general assignment for the benefit of creditors, or provides for an arrangement, composition, extension or adjustment with its creditors, or is genenlly insolvent or unable to pay its obligations as they come due; or (e) (rhis Article Not Applicable to CRA as Tenant), Any sub-leases submitted by the eRA and approved by the Landlord, if Tenant files a voluntaty petition for relief, or if a petition a~S[ !enam .un.der .the federal bankruptcy laws or other insolvency laws is filed and not withdrawn or disrmssed WIthin nInety (90) days thereafter, or if Tenant is adjudged a bankrupt; or . (1). It; in a.ny proceeding or action in which Tenant is a party, a trustee, receiver, agent or :s~ ~ appotnted to l3ke e:l:arge of the p~s, or Tenant's property (or has the authority to sOJ or e pwpose of enfoKlng a lien against the Premises or against Tenant's property; or 11 Agenda Item No. 16B3 June 22, 2010 Page 18 of 40 (g) If Landlord discovers that any financial statement delivered to Landlord by Tenant is materially false; or (h) In the event Tenant, before the expiration of said Lease Tenn, and without the written consent of Landlord, vacates said premises or abandons the possession thereof, or uses the same for purposes other than the purposes for which the same are hereby leased, or ceases to use the Premises for the purposes herein expressed. 14.2 Landlo..!'s Rpmp,l;,.", If any Event of Default occurs, then, Landlord shall have the following options, without further notice or demand of any kind: (a) Option 1. Sue for Rents as they become due; or (b) Option 2. (1) Tenninate this Lease; (2) Resume possession of the Premises for its own account; and (3) Recover immediately from Tenant damages for Tenant's default in an amount equal to the difference between the Rent and fair rental value of the Premises for the remainder of the Lease Tenn, together with all other charges, rental payments, costs and expenses herein agreed to be paid by Tenant. Notwithstanding the foregoing, Landlord shall have a duty to take all reasonable steps to mitigate its damage; or (c) Option 3. (1) Resume possession; (2) re-lease or re-rent the Premises for the remainder of the Lease Term for the account of Tenant; (3) Recover from Tenant at the time each payment of Rent becomes due under this Lease, the difference between the rent for which provision is made in this Lease, and the rent received on the re-leasing or re-rental, and the cost of all repairs or renovations reasonably necessary in connection with the re-leasing or re-rental. Landlord is authorized to m2.ke any repairs to the Premises and/or to subdivide or restructure the Premises as Landlord sees fit "Tenancy Repairs and Modifications". Further, Landlord is authorized to enter into new leases in which the lease term or other tenns and conditions are different from this Lease C'Lease Modification"). Concerning any Tenancy Repairs and Modifications and any Lease Modifkations, Tel1llnt agrees that such Tenancy Repairs and Modifications and Lease Modifications are being performed for the purpose of re-Ietting and mitigating Tenant's damages, and, as such are done for the benefit of the Tenant and are valid costs of re-letting; and (4) Recover from Tenant immediately any other damages occasioned by or resulting from the abandonment or a breach or default. other than a default in the payment of Rent; or (d) Option 4, Pursue all remedies provided under Florida Law, including, but not limited to remedies provided in Chapter 83, Florida Statutes. Notwithstanding the foregoing, with respect to re-Ieasing or re-renting the Premises, Landlord and Tenant agree that Landlord shall only be required to use the same efforts Landlord then uses to lease other properties Landlord owns or manages; p=vided, however, that Landlord sball not be required to give any preference or priority to the showing or leasing of the Premises over any other space that Landlord may be leasing and may place a suitable prospective Tenant in any such availAble space, regardless of when such alternative space becomes available; provided, further, that Landlord shall not be required to observe any instruction given by Tenant about such re-letting or accept any Tenant unless such offered Tenant has a credit worthiness acceptable to Landlord, leases the entire Premises, agrees to use the Premises in a manner consistent with the Lease, and leases the Premises at the same or greater rent., for no more than the current Lease Tenn on the sam~ terms and conditions of this Lease, and does not require an expenditure by Landlord ' for Tenaot unprovements or broker's com.m.issions. 12 Agenda Item No. 1683 June 22, 2010 Page 19 of 40 14.3 Remedies Non-Cumulative. The remedies given to Landlord in this Article shall be in addition and supplemmtal to all other rights of remedies which Landlord may have under law or in equity or as specified elsewhere in this lease agreement ' 14.4 Non-Waiver The failure by Landlord to stricdy enforce or declare a breach of any term, covenant or condition of this Lease shall not be deemed to be a waiver of that or any subsequent breach of the same or any other term, covenant or condition. The subsequent acceptance of Rent by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant or condition of this Lease. other than the failure of Tenant to pay the rent so accepted, regardless of Landlord's knowledge of such preceding breach at the time of acceptance of such rent. Acceptance of a portion of the Rent shan not be deemed a waiver of the Landlord's right to immediately enforce this Lease to the extent of any outstanding Rents or other breaches. No covenants, term or condition of this Lease shall be deemed to have been waived by Landlord unless such waiver is in writing signed by Landlord. 14.5 Rent Payments Under Default. In the event of a default of any payment due under this Lease, Landlord may in Landlord's notice to Tenant of such default, require th2t Tenant's payment to cure the default be in cash, cashier's check, and/or certified check. Landlord and Tenant agree that should Landlord so elect to require payment by cash, cashier's check or certified check, a tender of money to cure the default, which is not in the form requested by Landlord, shall be deemed a failure to cure the default. Nothing contained in this paragtaph shall in any way diminish or be construed as waiving any of Landlord's other remedies as provided elsewhere in this Lease, or by law or in equity. 14.6 Expenses of Enforcement. In the event any payment due Landlord under this Lease shall not be paid on the due date. said payment sball bear interest at the Appliable Rate from the due date until paid, but the payment of such interest shall not excuse or cure any default by Tenant under this Lease. In the event th2t it shall be necessary for Landlord to give more than one (1) written notice to Tenant of any violation of this Lease, Landlord shall be entitled to make an administrative charge to Tenant of'$150.00 for each such notice. ARTICLE 15 SECURITY DEPOSIT 15.1 SecuritY Dt;posit. Tenant, concurrendy with the execution of this Lease, has deposited with Landlord the sum of $3,450 Three Thousand Four Hundred Dollars (the "Security Deposit''), the receipt of which is hereby acknowledged by Landlord, which sum shall be retained by Landlord as security for the payment by Tenant of the rents and all other payments herein agreed to be paid by Tenant and for the faithful performance by Tenant of the teons, provisions. covelUlnts and conditions for this Lease. It is agreed (i) that Landlord may, at any time during the continuance of any Event of Default by Tenant under any of the termS, provisions, covenants or conditions of this Lease, apply said Security Deposit or any part thereof towards the payment of the rents and all other sums payable by Tenant Wlder this Lease, and toward the performance of each and every one of T=t's covenants under this Lease, but such covenants and Tenant's liability under this Lease shall thereby be discharged only pro tanto; (u') that Tenant shall remain liable for any amounts that the Security Deposit shall be insufficient to pay; (ill') that Landlord may exhaust any or all rights and remedies against Tenant before resorting to said Securiry Deposit, but nothing herein contained shall require or be deemed to require Landlord to do so; and (iv) that, upon application of all or part of said Security Deposit by Landlord, Tenant shan be obligated to promptly deposit with Landlord the amount necessary to restore the Security Deposit to the amount held by Landlord immediately prior to such advance by Landl?rd. In the event the Security Deposit shaD not be utilized for such purposes, then saId Secunty DepoSlt shall, after the payment in full of all sums due Landlord iereun~ be returned by. Landlord to Tenant within sixty (60) days next after the expiration of the erm 0 S Lease. Notwithstanding the foregoing, in the event of the sale or transfer of Landlord's 13 Agenda Item No. 1683 June 22, 2010 Page 20 of 40 interest in the Premises, Landlord sball have the right to ttansfer the Security Deposit to the purchllser or tnulsferee, in which event Tenant shall look only to the new landlord for the return of the Security Deposit and Landlord shall be released &om all liability to Tenant for the return of such Security Deposit. ARTICLE 16 SUBORDINATION, NON-D1SnJRBANCE AND A TIORNMENT 16.1 Subordination b.y Tenant. Tenant hereby subordiruotes its rights hereunder to the lien of any mortgage or mortgages, or the lien resulting &om any other method of financing or refmancing, now or hereafter in force against the Premises, and to an advances made or hereafter to be made upon the security thereof. This shall be self-operative and no further instrument of subordination shall be required by any mortgagee. However, Tenant, upon request of any party in interest, shall execute promptly such instrument or certificates. 16.2 ESl~pe1 Certificate. Within ten (10) days after request by Landlord, or in the event that, in connection with any sale, assignment or hypothealtion of the Premises and/or the land thereunder by Landlord, an estoppel certificate shall be required from Tenant, Tenant agrees to deliver, in recordable form, an estoppel certificate to any proposed mortgagee or purchaser or to Landlord certifying (if such be the case) that this Lease is in full force and effect and that there are no defeDBes or offsets thereon, or stating those claimed by Tenant. 16.3 Attornment. In the event of a sale or assignment of Landlord's interest in the Premises, or if the Premises comes into the hands of a mortgagee, or any other person. whether because of a mortgage foreclosure, exercise of a power of sale or other reasons, Tenant shall recognize said mortgagee or other person as the same as Landlord hereunder. Tenant shall execute, at Landlord's request, any attornment agreement required by any mortgagee, or other such person containing such provisions as such mortgagee or other person requires. 16.4 Non-disturbance bv Landlord. The Landlord shall obbin for the benefit of the Tenant, a non-disturbance agreement &om any mortgagee, which agreement shall be on such mortgagee's standard form and shall provide that, in the event of a foreclosure or deed in lieu thereof, the tenancy of the Tenant shall not be disrurbed ARTICLE 17 LIABILITY, INDEMNITY AND "AS-IS" PREMISES 17.1 Limibtions of Landlonl's Liability: Indemnily Landlord shall not be liable or in any way responsible to Tenant or any other person for any loss, injury or damage suffered by Tenant or others in respect of (a) property of Tenant or others that is stolen or damaged. (b) injury or damage to persons or property resulting from fire, explosion, falling plaster, escaping liquid or gas, electricity, water, rain or leaks from any part of the Premises, or from any pipes, appliances or plumbing work therein, or from dampness, (c) damage caused by other occupants or persons in the Premises, or the public, or caused by operations in the construction of any private or public work, (eI) loss or danuge, however caused, other than loss or damage direcdy caused by fault (i.e., gross negligence, act or omission) of Landlord, and which is not otherwise excluded by the provisions of this paragntpb. Tenant shall look solely to thc estate and property of Landlord in the land and b~ ~~mprising the Premises for the coil eerion of any judgment, or in connection with any other Judiaal process reqwnng the payment of money by Landlonl in the event of any default or breach by Landlord, under this Lease, and no other property or es~tes of Landlord shall be subject t? levy, execuoon or other enforcement procedures for the satisfaction of Tenant's remedies and rights under this Lease. 14 Agenda Item No. 1683 June 22, 2010 Page 21 of 40 17.2 Tenant's Indemnity of Landlord. Tenant shall indemnify and bold harmless Landlord a82inst any and all damages or expenses arising out of or in connection with any accident or other occurrence on or about the Premises, and from all costs, liabilities, claims, charges, injuries, damages or expenses, including. without limitation, attorneys' or other professionals' fees and court costs, due to, arising out of, or in connection with loss of life, personal injury, damage to property, or any work done by, or act or omission of Ten ant or its officers, partners, agents, servants, employees, customers, contractors, invitees, concessionaires or licensees, in and about the Premises, or due to, arising out of, or in connection with Tenant's use or occupancy of the Premises, except in the event of gross negligence, act( s) or omission( s) of Landlord, its officers, directors, shareholders, managers, employees, customers, guests and! or invitees. In case Landlord shall be made a party to any litigation again.t Tenant and except in the event of negligence, act(s) or omission(s) of Landlord, its offtcers, directors, shareholders, managers, employees, customers, guests and/or invitee., then Tenant shall protect and hold Landlord hannless, and pay all costs and attorneys' fees incurred by Landlord in connection with such litigation, and any appeals thereof. ARTICLE 18 WASTE, ENVIRONMENTAL, GOVERNMENTAL REGULATIONS 18.1 Waste or Nuisance. Tenant shall not commit, or suffer to be committed, any waste upon the Premises, or which may adversely affect Landlord's interest in the Premises. 18.2 Environmental Provisions. Tenant agrees to comply stricdy and in aU respects with the requirements of any and all federal, state and local statutes, roles and regulations now, or hereinafter existing, relAting to the discharge, spillage, storage. uncontrolled loss, seepage, filtration, disposal, removal, or use of hazardous materials, including but not limited to the Comprehensive Environmental Response, Comprehensive and Liability Act of 1980, the Superfund Amendments and Reauthorization Act, the Resource Conversation and Recovery Act, the Hazardous Materials Transportation Act and the Florida Hazardous Substances Law (collectively the "Hazardous Waste Law'') and with all similar applicable laws and regulations. Tenant shall notify Landlord promptly in the event of any discharge, spillage, uncontrolled loss, seepage or f1!tration of any hazardous materials (a "Spill'') or the presence of any substance or material presendy or hereafter identified to be toxic or hazardous according to any Hazardous Waste Law, including without limitation, any asbestos, PCBs, radioactive substance, methane, volatile Hydrocarbons, acids, pesticides, paints, petroleum based products, lead, cyanide, DDT, printing inks, industrial solvents or any other material or substance which has in the past, or could presendy or at any time in the future cause or constitute a health, safety or other environmental hazard to any person or property (collectively "Hazardous Materials") upon the Premises. Tenant shall prompdy forward to Landlord copies of all orders, notices, pennits, applications or other communications and reporrs, in connection with any such Spill or Hazardous Materials. Tenant shall not handle, use, generate, manufacture, store or dispose of Hazarclous Materials in, upon, under or about the Premises. Tenant shall indemnify Landlord and hold Landlonl hannIess from and against all loss, penalty, liability, d2mage and expense suffered or incurred by Landlord related to or arising out of the presence of Hazardous Materials on the Premises, where such loss, peruUty, liability, damage, and/or expense resulted from a condition created or caused by the actions of Tenant, its officers, directors, shareholders, managers, employees, customers, guests and/or invitees upon the Premises. Such loss, damage, penalty, liability, damaK" and expense shall include, but not be limited to (1) court costa, attorney's fees and expenses, and disbursements through and including any appellate proceedings; (2) all forese~ble and unforeseeable consequential damages, direedy or indirectly, arising out of the use, generat1on, st~e or disposal of Hazardous Materials by Tenant; (3) the cost of any required or necessary replUt, clean-up ~r detoxlficatton of the Premises; and (4) The costs of preparation of any clos~ or other plans reqwred under the Hazardous Waste Law necessary to sell or lease the Premt5eS. ' 15 Agenda Item No. 1683 June 22, 2010 Page 22 of 40 ARTICLE 19 MISCFJ..J"ANEOUS 19.1 First-Class Operation. Tenant covenants and agrees that at all limes the business to be conducted at, through and from the Premises, and the kind and quality of services to be offered in the conduct thereof, will be first -class in every respect. 19.2 Acconl and Satisfaction. Landlord is entitled to accept, receive and cash or deposit any payment made by Tenant for any reason or purpose and apply such payment, at Landlord's option, to any obligation of Tenaot; any such payment shall not constitute payment of any amount owed except that to which Landlord has applied it. No endorsement or satement on any check or letter of Tenant shall be deemed an accord and satisfaction or otherwise recognized for any purpose whatsoever. The acceptance of any such check or payment shall be without prejudice to Landlord's right to recover any and all amounts owed by Tenant and Landlord's right to pursue any other available remedy. 19.3 Attorneys' Fees. In any litig2tion arising out of this Lease, the prevailing patty shall be entitled to recover from the non-prevailing party, reasonable attorney's fees, cosm, and expenses of such suit and any appeal thereof, including any reasonable attorneys' and puaprofessional fees and costs, through and including all ttial and appellate levels and post-judgment proceedings. 19.4 Entire Agreement. It is understood and agreed by Tenant that Landlord and Landlord's agents have made no represenations or promises with respect to the Premises or this Lease, except as expressly set forth in this Lease, and that no claim or liability or cause for termination shall be asserted by Tenant against Landlord for, and Landlord shall not be liable by reason of, the breach of any represenations or promises not expressly sated in this Lease. 11ris Lease supersedes all prior agreements, written or verbal, with respect to the Premises, including, without limiation, any letter of intent. 19.5 Intetpretation. The parties agree that It is their intention to create only the relationship of Landlonl and Tenant, and no provision hereof or act of either parry shall be construed as creating the relationship of principal and agent, or a partnership, joint venture or enterprise between the parties. Each of the parties has participated jointly in the negotiation and drafting of this Lease. In the event an ambiguity or question of intent or interpretation arises, this Lease shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Lease. 19.6 Force Maieure. If either party sball be delayed or hindered in or prevented from the perfonnance of any act required hereunder by reason of strikes, lockouts, labor trouble, inabiliry to procure material, failure of power, restrictive governmental laws or regulations, riots, insurrection, war or other reason of a like nature not the fault of the party delayed in perfomllng work or doing acts required under this Lease, the period for the performance of any such act shall be extended for a period equivalent to the period of such delay. Notwithstanding the foregoing, the provisions of this paragraph shall at no time operate to excuse Tenant from any obligations for payment of Rent, Additional Rent, or any other payments required by the terms of this Lease when due, and all such .:amounts shan be paid when due; 19.7 Notices. A~ notices from T e""nt to Landlord required or permitted by any provision of the Lease shaR be directed to Landlonl by cerrified mail postage prepaid, hand delivery or by Federal Expres. or other naoonaIly recogruzed overnight courier service at the address set forth in Paragraph 1.3 hereof, or at such other address as Landlord may designate by written notice. All 16 Agenda Item No, 1683 June 22, 2010 Page 23 of 40 notices &om Landlord to Tenant required or permitted sball be directed to T c:nant by certified mail postage preptid, hand delivery or by FedeI3l Express or other nlltionally recognized overnight courier service at the address set forth in Paragraph 1.5 hereof, or at such other address as Tenant may designate by wetten notice; or by posting on, or delivery to the demised Premises. Notice given as described above shall be sufficient service and shall be deemed given as of the date received as evidenced by the return receipt of the registered or certified mail or the refusal of acceptance of such notice, or after one (1) business day if any hand delivery or overnight courier service. 19.8 ("''''phons and Section Numbers. This Lease shall be construed without reference to tides of articles and paragraphs, which are inserted only for the convenience of reference. 19.9 Nnm....r and ("'.ender. The use herein of a singular term shall include the plural and use of the masculine, feminine or neuter genders shall include all others. 19.10 Broker's Commission. Tenant represents and warrants that it has caused or incurred no claims for brokerage commissions or fmders' fees in connection with the execution of this Lease, and Tenant shall indemnify and hold Landlord harmless against and from all liabilities arising from my such claims incurred by Tenant (including, without limitation, the cost of attorneys' fees in connection therewith). 19.11 Partiallnv.linitv. If any provision of this Lease or the application thereof to any person or circumstance shall be invalid or unenforceable, the remainder of this Lease shall not be affe<::ted thereby, and each provision of this Lease shall be valid and enforceable to the fullest extent permitted by law. 19.12 Recording. Landlord or Tenant may not record this Lease; except as required by Florida Sunshine Laws, and as certified by the Collier County auk of Courts for the CRA, this document will become a public record. 19.13 r.ovpming Law. This Lease shall be governed exclusively by the provisions hereof and by the laws of the State of Horida. Venue for any action arising out of this Lease to enforce or interpret its terms or conditions shall be in Collier County, Florida. 19.14 Provisions Bioning. Except as otherwise expressly provided, the terms of this lease shall be binding upon and shall inure to the benefit of the successors, legal representations and assigns, respectivdy, of Landlord and Tenant. Each tean and each provision of this Lease to be performed by Tenant shall be constrUed to be both a covenant and a condition. The reference contained to successors and assigns of Tenant is not intended to constitute consent to assignment by Tenant which is controlled by the provisions of Paragraph 9.1. 19.15 COq!orate Tenant (Jhis Article Not Applicable to CRA as Tenant). Any sub-leases submitted by the eRA and approved by the Landlord, the parties executing this Lease or any other documents related to this Lease on behalf of sub-tenant, hereby covenant and warrant that sub-tenant is a duly qualified business entity in good standing, and all steps have been taken prior to execution to qualify sub-tenant to do business in Florida; that the undersigned is authorized to execute this sub-lease on sub-tenant's behalf; all franchise and corporate taxes (if any) have been paid to date; and all future fonns. repons, fees and other documents necessary to comply with applicable laws will be filed when due. 19.16 A?,~ndments or Mnrljliro~ons. No am~dment or modification of this Lease or any consents or .~slons of Landlord tequired ,;,nder this Lease, shall be valid or binding unless reduced to WZ:llIDg and executed by the party agatnst whom enforcement is sought. 17 Agenda Item No. 16B3 June 22, 2010 Page 24 of 40 t 9, t 7 F.....mPnlll. lAndlord reserves the right to grant any easements on, over, under and above the property on which the Premises is located for such purposes as lAndlord determines in illlsole discretion, provided that such easement will not materially adversely interfere with Tenant's business. 19.18 RiePt of Rnttv. Landlord and Landlord's agents shall have the right to enter the Premises at all reasonable times (except in the event of an emergency in which case Landlord may enter at any time and without notice) and to show them to prospective purchasers or lessees of the Premises, and to make such repairs, rruUntenance, setvicing, alterations, improvements or additions as lAndlord may deem necessuy or desirable. Nothing herein contained, however, shall be deemed and construed to impose upon Landlord any obligations, responsibility or llilbility whatsoever, for the care, maintenance, or repair of the building, or any part thereof, except as otherwise herein specifically provided. 19.19 loint and SeveI21 l.iabilitv. If two or more individuals, corporations, partnerships or other business associatiOt18, or any combination thereof shall sign this Lease as Tenant or as Guarantors, the llilbility of each such individual, corporation, partnership or other business association to pay rent and perform all other obligations under this Lease shall be deemed to be joint and several, and all notices, payments, and agreements given or made by, with or to anyone of such individuals, corporations, partnerships or other business associations shall be deemed to have been given or made by, with, or to all of them. 19.20 No Discrimination. Tenant will not discriminate in the conduct and operation of its business in the Premises against any person or group of persons, including, but not limited to, reasOOs of the race, handicap, creed, sexual orientation, color, sex national origin or ancestry. t 9.21 Time of Essence. Time is of the essence with respect to the performance of every provision of this Lease, 19.22 WAIVER OF A lURY TRIAL EXCEPT AS PROHIDITED BY LAW, LANDLORD AND TENANT HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE TIlE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY UTIGA nON BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECnON WITH THE LEASE, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITIEN) OR ACTION OF LANDLORD, TENANT OR ANY GUARANTOR. THIS WAIVER IS A MATERIAL INDUCEMENT FOR LANDLORD TO ENTER INTO THIS LEASE. FURTHERMORE, NEITHER LANDLORD NOR TENANT SHALL SEEK TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY LITIGATION IN WHICH A JURY TRIAL CANNOT BE W ArvED. 19.23 Porking. Intentionally Omitted. 19.24 lUdon Gas, Radon is naturally occurring radioactive gas that, when it has accumulated in " building in sufficient quantities, may present healtb risks to persons wbo are exposed to it over time. Levels of radon that exceed federal state guidelines bave been found in buildings in Horida. 19.25 I ~l R<:presentation. Intentionally Omitred. 19.26 19.26 Exclusivitv. Intentionally Omitted. 18 IN WITNESS WHEREOF. Landlord and Tenant have signed this lease as of the date set forth above: LANDLORD: PALMYRA CLUB INVESTORS, LLC A Flo1da' . d liability company , I{ , ll. lj By: '''I [; J liri Steffan, . f W~ES ES (as to Landlotd): \.1 I AS TO TENANT: ATTEST: DWIGHT E. BROCK By: . .wi. ii:~' . -"tr Clerk A~t~~:~'~~~l sufficiency: ~'z.' ~.>;;. /It;J. .;~ . :n.,~- AA~~' Marjori tuden : Stirling 0 Assistant County Attorney Agenda Item No. 1683 June 22, 2010 Page 25 of 40 Date: {r/2 ,tJ~ ~~Qo.ll\()(~t.1'f6l'\& Printed Name of Witness JMu;d L. ...kdc->~ Printed Name of Witness COMMUNITY REDEVELOPMENT AGENCY OF COLLIER COUNTY, FLORIDA By: 1~17~O J~ DONNA FIALA, CHAIRMAN 19 Agenda Item No, 1683 June 22, 2010 Page 26 of 40 EXHIBT A The Premises ~ i . B . - - ~ . . II: , , . ~ 1: ~ . 0 . 0 . I~ ~E E !! e-1lI . ='i . lL. . lil. . ..::I . ~aIl rr !;:~ . . (lI . . '''G ~ u ~~ ~ ~ . . 1: u I " u , }i ~ :i!: ;; "'0 . .j ~ ~ . . lr u . f~ . 8 . it t . ~ ~ 'I .,;. . . ~! i t. .'. .. ~i ~ 1 1- <ll 'I _. _.._~- .. n ~ t . . .. . S i:: !! . .. 20 Agenda Item No, 16B3 June 22. 2010 Page 27 of 40 EXHIBIT B MEMORANDUM OF UNDERSTANDING Non-Exclusive Use by Bavshore Cultural Arts. Inc.. of a oortion of 4069 Bavsbore Drive. Nanles. Florida This Memorandum of Understanding is made and entered into this 1S\ day of July 2008, between the Collier County Community Redevelopment Agency, doing business as Bayshore Gateway Triangle CRA, hereinafter the "Primary Tenant," and the Bayshore Cultural Arts, Inc., a Florida Non-Profit Corporation, hereinafter the "Subtenant." 1. Owner of the ProDertv ("Landlord"), Palmyra Club Investors, LLC, is the fee owner of 4069 Bayshore Drive, Naples, Florida., 34112, further described in Exhibit A of the original lease ("Property"). 2. Primary Lease. Primary Tenant and the Landlord have entered into a Lease Aweement to Lease the Property and, pursuant to Paragraph 1.8 of the Lease Agreement; have agreed to the 24 month lease term to June 30, 2010. 3. Non-Exclusive Use of the ProDcrtv. Primary Tenant agrees to the Subtenant's non- exclusive use of that portion of 4069 Bayshore Drive, generally depicted in the attached Exhibit "A," (''Subleased Property") and Primary Tenant has obtained the written consent of the Landlord pursuant to Paragraph 9.1 of the Lease Agreement. Primary Tenant will allow Subtenant's employees, guests and invitees to enter upon and use the Subleased Property for the uses noted below and subject to the following conditions. 4. Term. The term of this Memorandum of Understanding shall be concurrent with the Primary Lease, as amended and as may be further renewed, 5. No Chanl!es to Property bv Subtenant. Subtenant shall make no alterations, additions and improvements to the Property except to the extent, if any, authorized by Primary Tenant in writing and permitted by the Primary Lease. 6. Liens. Subtenant shall not cause or allow any Lis Pendens or any liens to be filed against the Property, and if filed arising out of any act or omission by Subtenant at the property, Subtenant shall secure the lien's release. 7. Securitv to Prooertv. Primary Tenant is under no obligation to provide additional security to the Property by virtue of this Memorandum of Understanding. 8. Utilities. Primary Tenant shall pay for all utilities with respect to the Property and pursuant to the Primary Lease. Subtenant shall have access to potable water, restroom facilities, and electricity during its use of the Property. The Subtenant shall at its expense provide its own dedicated telephone, facsimile and Internet connections within the Subleased P~perty and pay all associated costs for labor and materials. 21 Agenda Item No. 1683 June 22, 2010 Page 28 of 40 9. ~ Subtenant will not post any sign, card or placard on the Property except as approved in writing by the Primary Tenant and Landlord, and in no instance shall said approval exceed that permitted pursuant to the Primary Lease. 10. Waste to the Properlv. Subtenant shall not commit waste, nor suffer any waste to the Property. Subtenant shall Pe responsible for any damage caused by its guests and clients. 11. Indemnification from Subtenant to Primary Tenant. Subtenant shall save and hold harmless and indemnify Primary Tenant from and against any and all liabilities, losses, damages, costs, expenses, causes of action, suits, penalties, claims, demands, and judgments, attorneys' fees, witness fees, and other expenses of defense (through all appeals and/or remands). alleged to arise out of intentional torts and/or negligent acts, errors or omissions of Primary Tenant's employees, guests and/or invitees, and notwithstanding all insurance coverages whatsoever throughout the entire term of this Memorandum of Understanding including all term extensions, if any. 12. Insurance. Subtenant shall maintain a liability insurance policy which is acceptable to Landlord and lists the Primary Tenant as an additional insured. 13. Subtenant Uses. Subtenant shall be allowed to use the Subleased Properly for office space and routine meetings. Subtenant's use of the Property's main conference room shall be controlled by the Primary Tenant. 14. Revisions to this Memorandum of Understanding. This Memorandum of Understanding may be revised as necessary by mutual consent of both parties and the Landlord by written amendment or a revised Memorandum of Understanding. 15. Termination. Either the Primary Tenant or the Subtenant may terminate this Memorandum of Understanding by providing thirty (30) days' written notice to the other party; otherwise this Memorandum of Understanding will remain in force, subject to the duration of the Primary Lease. IN WITNESS WHEREOF, the parties hereto have caused this Memorandum of Understanding to be executed by their appropriate officials, as of the date first above written. ATTEST: DWIGHT E. ~0,Q5.. ..,~ ,,1 L. '~":"61 -.-...: ..' . ... ~. ~" By: . .'. i)~k.C\.t. .' . ::to. 'ty Clerk .f"'l~. Cift?,~}:y.'.,: ApprovM;\l8 to, fQi:m. ~a'legal sufficiency: . !.'.~'':: r' ~j' :.....\ . ~'; Aj.;d,,_~J2n.~h . "'* Marj StUdent-Stirlin 1)- Assistant County Attorney COMMUNITY REDEVELOPMENT AGENCY OF COLLIEilOUNTY, FLORIDA By: I <h-;:I-'1<..-' c:i-'t.~ DONNA FIALA, CHAIRMAN 22 The foregoing instrument was acknowledged before me this ~t , 2008, by ~:~m\r4.V l\.... A\i.iM as '?1tt.<;.J.u....-\.. Cultural Arts, Inc., who is personally known to me or has produced as identification. AS TO BA YSHORE CUL TIJRAL ARTS, INC. Signed, ed an ivered in the presence of: STATE OF FLORIDA COUNTY OF COLLIER KOTARY PUBlIC.sT...m OF FLORID'" ...."... Sbirler M. Garcia :~'CommisSlOD ID0501305 \....:Y Expires: DEC. 21, 2009 BCWDEDTHRU An.vmeIONDDfO co,.JNC. Agenda Item No. 1663 June 22, 2010 Page 29 of 40 BY~~) J%.f; <L__ Printed Name: SoN! r I\. <11,.(, V\ I" Title: 'j) (v).. t\t' I.\.. t Jo't1 day of of Bayshore ~ ~<VIUCA otary ubhc PrintName: S;Ki{2j~~tAo.... My Commission Expires: AS TO LANDLORD: PALMYRA CLUB INVESTORS, LLC. A Florida limited liability company re Gateway Triangle CRA to sublease space within Exhibit "An lease space: ~ f l Z' J f WI1NESSn (as tq. /t 'I' /, Signa . Signature of Witness Date: aeilllJ.Or ~-e.1YDVl.e_ Printed Name of Witness 7>.w1-J L. J,-rCS~ >'\ Printed Name of Witness 23 AECOROATlOIIl REQUESTED 8Y: -..- _011Ioo 4018 T....... Tr" N. ...... '00 ...... R. :14103 3864181 OR: 4ot~e1~U~~;~~6 RlCOIDID in omCIlL OCOIDS of CO>LII{~,~ it 40 0'/29/200' at 01:05PI DI1G1f I. BIOCI, CLIII RlC m 11.00 WHEN RECORDED MAlL TO: -..- 4088 Y"-"": T.... N. ...... 100 ........ FL 34103 Retn: GOOlllolm CO!.IW IT lL lOOl T1I1111 Tl . #300 lAms PL 3m3 Th.. ASSIGNMENT Of RI!NTa JWllpllr-.i by: MaIM: CyIIthIa". Lerdng ..........._ c-p.ny: .... of ....... AddrIM: 4081 T........ Tnlll N. StIIbI 100 . N.apI.., FL 34103 ASSIGNMENT OF RENTS THIS A8S_ENT OF RENTS dolDd Jun. 27. 2008. 10 mod. one! ...cutod __ !'any,. Club I............ LLC.. A _ ~ ~ eon.-,. w_ _ 10 141& p_, lMuo au... 223, NopIoo, FL 34108 1_ to _ .. -_") _ Bonl< of NopIoo. _ _. 10 _ T_ TroI N. Su/lIo 100 ......... FL 34103 l_rrocI to _w ox "lM1dt1," . can1InuIno oocurIty ~ In, and _ frGm .... _wing __ ASSl_ENT. Few v_ _ conveyI to Lender .. of Grentor'. Proporty _ In CcIIIor County Loto 1OS. 108 and 107. u. K or P_ 83. 01... _ __20'v_ Tho Pr_ or ... odd.... I'VT1JM ADYAlfCB. In lIddition HVencea .... tMde purlUllftt to . tttecm.d In the Notl, 11II futurw I A..l~ r~ with... int.. TNB ~1I1~ -.. GNBI TO OBUClATIONI OF 0MlfT0II l.>>Ir:Jfft AND ~ 011 TME FOlLowttIG PAYIIBIT AIID . __ -'ItCI. Except ,II amcutll uc:ured tJr this Aatlgnment .. Vtrin. Ind tlttti L.encter ...,ciMs hi rlgtd t1:l 1)tIti tI I' pfO\liMd be Gr-'tOf mII'( ,.. In posHIalon Ind control 0 M~~ the right to collet 'the fWm; ,hi&! nen ConattMI ~ ~ GMNTCMI.. ........TA1'1ONS ANO WARRANTIES. 0wMr.hIp. l3rnor i. enttltetI tJJ receive the Rent!; ~. aod etaar of ,It rights.. !gIna, liens, eocumbr.~. .nd clllitnl except &I diadOlo~ to III\d 1IeCtIpt9d by lAIno-, in writing. fight m....... Gr~tor Aal ,r. fuN rigtn, power .nd .-uthority to entlt( into IhlI A&aivnmen1 MId '0 ...ign .tId r;onvr,' tt. "-ntl to L_. .reof .. r.cOfdecf in PlIIt Book 3. .. of 0-'. _t in .,d to , FL 34112. Lender to QfM10r whtlth.r- Of not thIi CUI", In ~ditlgn 10 _ ~ tV 1201 vars of the de_ of this ~ lid Dgcumlltftta, Gr.ntor ah.. pay .0 l.Iind.r I G,.mor's oblrvadons undllf this A.signmel1t. g .. hr. is no cHtaltl: under this A..iannM"" cohct t'- Rents, provlcl<<l thll1 tt. granlWlg of in . ~tcy proceRing. No ,.... ~ _._.L Grantor hn not praviously a..lg;ned or conveyld the R<<nl to anv other pwaon b., any instrurMnt now in force. M. Far-.. T,.... Gramor WUl 110...... a.llgn. encumber. or othBrw.. di~.. of .nv of Granmr'. rightl in the ReMI e'"*P." prOYldldi '" thil A.aignment. LENOIiR'S NCIHT fa RlClJVE AND COU.ECT REIITS. L.ende' shell hp. the ri;ht Irt any lim., and .....n though no dot.un Ihall have occumld tftIer INs Aalgnm.nt. to coIllct and lIelllv. the Rente:. For th6I; putpOM, land.r . hereby given and g1l111ted the following rightl. pow*. and authority: NoUe. to T...ca. lender mav send 1I01i.... to anv .00 .u l""lnll of the Property .dviMng .h.m of thll .....ID""*tt and dil"ectirtO ... R8m1 10 be peicl dfrecttv to l.....,. or LendfJr', agtnt. Ent.r 11M 1"nJpsrty. lM'IdW may anter upon and,.. po...uion 01 the ~roperty; dem.oo, coItact and r~ from the lWIMta or trom lIftV other pwmna liable 1t1..tor. ~ of m. Renta; institute .na Can)' 011 .. tee-! pl'OCIadlnp rwcH..ry for .r. ptOtecaon of ttNt Property. lnduding such ptoc:e.dnV'l .. mr,o be ~ .0 reeoy... po..lIQlon of the Property; col.ct the "enta W'lCI rlllTlOv. eny 10000Rt or Nnaml or other peruna "01'1I thll P~. ......... .. ~- ~ may en_ upon rn., Pr~rty to nW\~ tll8 Propenv and k.-p 'the lame ill rlllH-ir; 10 P-v the co.... rtwr..r 8fId of .. ..-vie.. of IIll .mpIo....... Including m-ir ~ Met of .1 continuing 00"1 Ilnd .....,... or m&llm.minll the Prop&lny In ~ ~ and condition. .nd au to pay .n taxes. ......m&nt. end Wate' utIIlt.., .nd 1M JINl'fIluml on fir. .-1d other ~"ca "'eelect by l.nder on 1h1 Propo"v. C~ wllh LM... lender may 00 eny and IllI thinga to e"~' IIf'Id C(WJIpty with thl ~11 of tho StIlUl of Florid. and "'0 .11 tither Ie_. ruln, o~'ra. ordln.nc.. and r.,..ir~ts of loll OItwr gc""arl\r'ftlntal aganeieI. .ffllCting the Property. ~ ...1Inlparty. l.andw msv r..r or I.....M whole or .rw part of tM Property for -..en t..m or t8lm& .nr::I 011 -.:h conditiona .. lilt'llMr may d.... app"'Pri.... .......,.~, landar m-v engaga ~ch ~ or ~. .1 ~ may da~ appropflate. alther in l<tnOw'l ,,__ Of if'! GrlM'l'tOr'l nama, to tenl and manage ttla Propwty, inekldlng the collec:tion and application ot Renl.. Other Acta. IAndat ma., do all "'-1m OU-- thing. and .ct. ...tttto r,..ct to the; Propany AI l.~ may 4Hfn approprirrt'l' Md me.... lei .xeUsivety and solllly in the piece and 51811d of GrantQf lMld to h.ve ell ot the pO_I of Gr.ntor 'Of the PUI'PCJUI stl1.s abov.. Agenda Item No. 1683 June 22, 2010 Page 31 of 40 Lo.l No: '_2469 ASSIGNMENT OF RENTS (Contlnuedl "-2 No .................. to Act. lMldet...... not 1M fMlUlred to dO any of thII foregoing .eu. eN' thinQt. If'ICI dw fJa that LendIr .... .... performId OM Dr men of 1M..... acta Of .... ,MIl not ......... L..o. to do IllY ott.r tlNCltIc _ Of 1hing. .vPUCATIOII Of....,.. AI CIQlIb; MCI pPenAa Incur'" by iMMiw In ClOMeCIion with thI ~..... ... tor Or_'. IICCOUI'It .net lMlder rMY..-v IUCh c:DAU............ from the RerrtIi. ~. In III ............ tMI......... ~ of lIlY......... NClIIMcI bot It: ....... any suoh Rente reoeiYld by L.encter whIctl .. not IPPI*I to auctl OOItS end ....... .... be .... to ... 1rA-' . _. AI......"........ by Lend.. ~ lNI AlaVvNrtt WId not relmburnd from the Rent. ...... become I pin at the. I. . 1 IIiIcured by this... 1:. .-4....,.... be IMV'. CNI dImand, with tn.... .-: .... NcIte .... froM .. of .......... undI ....' AU.. __ _ 'q'-"'-, "Gr.-cor p'p III of Iht h2e1nd_ when M"" othWwiM perfornMi" u.. obllpdorq mpoHd upoQ GfMtoI und. thiII ~ the ,... lIhd In. RlIIet.t eocum.ru. Len_ IhllllUCUg ... dlIIvw to G.-.ntar . ~ ......cdon of tNI AuIfPWMnt ..... wIt.....rnerru of t..-mlftlltion of ...., flnanclng atatWlWIt on fill h1d~ LMder"..curiry inWut in m. IWnI: .... tM Propeny. Any ~....,...... by '- theII bI p.Id by O"....or, If pennltted.,...uc.......,. UiItDBl'a IXPEIIDITUMS. It.nv ec:don 01 ptOCaIdng ill ~CId that woutd ........, IItt.ot LMdw', rne...t ilL ttw ~ or it Gf..IIor,. to comply with .ny ~ of tNI ", '. n._M or ...y RaI..r Oool M,tI, IndudinO but IlOt ....... to GrliMOt" fWlura tII dictwDf Of p.v- ..... due lAY .mounu Grlrnor .. q,quIred '0 dtsdWge Of p.,. undIr thll... '1 Aei'lt Dr any ........ ""'-M '11"" L...... 011 GrdCII" behIIf rnI_ lbut In.&! not be oblo*d tal .al. .ny GkIn d'l.w LHcI. dterM IIJPfOPr.... InCIudiftt but IIIDt Imit:. to A..:I_JA. or p.tyIng .. ...... ..... MCUriIy 1nU,... encumbr~ and obr al.lmt. .. -.y time........... ..... on 1M ~ or th4t ~ -.d peylng" com for IMurIng. ~.nd ~ the PtvpM1y. Altuch ~ incurrlld Of pIIId by LMlcMr tor auch purJlOMII wII tt.a... ___ at ... ,......... ...... .. ND.. tram the.. incwt'1Id or Nid bw Lender tD the..... of r..".... by 01..... AI............. MeaNt . pM.t.. ~... end, .c UncW'. 0Cl't1oft. .. tAt bI fMyMM on ___ I" bII IIdMd 10 thIi w.nae ot m. MoM _ bit ~llN amGftI .... be plPWl wtth ~ inIt~ ~ " bMome ... during ....... 11) ........ of...,. .................c. poIcv; Of ,~ U. ~ tMn at "'" Not-: 01' IQ .. ........ .................Nch wII be m.. end ~ lit tM Noh', lMturtty, The A~ at.o .. HaUra P-vmtmt of tMH .mauntI;. ~ right IIhd bI: In 8ddIticIn 10 .. aU. ~ and ,...... to which undW mllY bII ...... upon o.IluII, DEFAUlT. Each of'" foRawing.. ~', aptIon,..... conItiIuttI an ev.n. of DelllUftundar dU .....ignmenl: ,~. ~ 0,__ falla to m.ka any p...........,1 wtMIn .. IndabtednNl, 0tIw...... Gr..w"" to ~ wfth . obIicJIdon, IIIOWMftt 01' 0CJndid0ft ~ in ... AuIgNM.nt or In .ny of.hI ......... -.rm. obllgldan. OO'tIIn.nt or oondItion cOl'Ulnlld In any other ~ bMW8en L...... DaIautt .. 0Ihw,.,..,.. FellLn Inau.... 01 -V ottw P-vrunt 11II0 o.wt In Faw. fII 1'1IIrd 0' ...-.. at any atMr .. Ofarnor'.....,. 10 perfGrm . r'. 0 hIM ............ Any w.". .... ~m"'" Of ttw .....-.t 01' bIocoma: ,.... or m......." ~ ~~......... any co...... do~nt 10 o.Ib.~. Thad! tN imited IiabIIty 00ftl5NI'tY. CII' inIoIYII'iCY 01 G,antor. tht .". type of rndItor workout. or GrtntOl'. CIelIIDf ., ,..,.... Pro .., .. . wtmher by tudiclaI ptOcndlng. Mtf-help, ,- ~~ 01' ..., DIN, mdIod, by tal ..,.ncv oIIIlIMt 1M __ or any Pf(lrpeI't'( aec:urine the 1......1........ 1'hit' r., InduI;Ing d.1IIHIt 1ICCOUfb, wtth ........ HowtIver. .... Ennt f1f o.t.tl .... not GrMtar aa 10 the v.1ldIty or reaon......... of ... c\IIIm whIoh it Ih8 b... of the cnditor Of ...... Land.r writt.... nalb of th. credttor Of fotteIt\Q proOlNdlftg IIC'Id d-.aoalb wieh Land. mom. or . II&QtY cndItor or forfe/lur. pI'~edlng. in an ImOUftt .ermined by la'dIIr. In Its 101. dlac..on. a. tMI!ng .... act.qullt. reserve or bond fM tM diaput.. ~ o.m.g... u... The Property it; loti. stol.n. lUb.t""""''' 68/MOad, 1OId. or borrowed again". EwmI "..... Ou.entol. An" of the prlt*8nO event. OCtln with tupect to MY Gu.'antor"'"y of.. Ind.trtIIdnan or W1Y Guat.ntor diea Of becomN WK;g~ 01 rrtOUI or dhrput.. u. vlllidlty of, Of hbaty uncI_, any Ouw..., of...... ,. '"""" In tN event of a dNth. LInd<<, lit flI option, may. bLn: aha" not bI ~ to. I*mI tht au..emor', ..... to ...ume uno... -. 'P"'Y ttw oIIIgationI; .-i.ing .... ttM Q'*anty In . m........ .aNfac:tort 10 L.,.,. and. in doinO '0, ewe en" Event of o.teuJt. ~ Chanp. A rnawrlel lid...... e~ oee..". in Grantor'. financhll condttion, or Lenrder bell",.. the pro.,.ct of p8Yl'l\ant or perfonune. 01 the ~~~.ua D1mIaairlld. .........,. UftlMr In good tMh beIIewcIltHlf WlHt'Ul'f1. CUre............ If eny dtfaIlt, o1her than II dllflUtt In peymatllll cur.oa. end " G,-.ntor ha not bun ~ . nat~ of . m.ch 01 the ..... PfO\riflon of IhiI "'...Ilmn.nl wkhin the preceding tw.ve 11 2) monlha, tI m." bIo cured H Bramor. efler ...C*IWlg wrtn."I nudca from LaMw demanding CUll of..en dat...lt: 11) cures'" datault within un (10) dIIYI: or (2) H.hIt CUf.,........... than .... 1101 chn. .........teIy lnitiIltM IItepa which L.end.- ....... In l.endIar'. IoIe diaaNfIoft 10 be .uffidaM to .... ... .... .... therellfter eondnue. Md compIKM .. raMOMtlla and MDMnfY .-pi IIUfflciam: to JWoduce compIanoa _ &OOft .. ~ pr.ctlcaL flCIKR MD-..as: ON DEfAULT. Upon thaoccurnne. of.wry Ewm: of Def...It.Ni at .ny tim. mer...r. Lendef m.".....CiM anv OM Of mofe ot tha toIIowing rights and ~ HI addlllon 10 any other rlghb 01' ramldla pr~ed bf I~ ,........ I......b... .. lAnder ",.n ha~ lhe r~ III ita option without notice to a,...1ar 10 dad... the andl. lndebtedMaa lu~."",". due end payebla. iftCludlng any prepayment ~aIty which GrantOr ...auld be r.quifed to ~y. Collet ...... lAndaI.... h..... the right. wMhout notice to (kenlDf. to tab po.....1oft of lhe ~ and coIIac:t the Rant., ,"Qtuding amounts pWt dUe and ut'IDliCI. and apply the filii ptOCMda, 0\1'" and .bove LIIlder'. co.u. apinan tM r-no.b'lldMaa. In ~ of ... rlQn, La'" MIll h.ve all ttMI right. providad far In lhe lM)Qar'. RIp1I to ~ III1d CoIIecl ftM1lf lSacaon. above. If the Rfnta .. coIIKtad by Landar, tMIJ, Grantor ~ de....... Landw .. Or...,.. w&1lo..._. In fct 10 ....... ~ ~ in ~ ttw_ In 1M ....... .f Grwatar .,.. to ~ the..... ..... CDIacI: 1ha........ r........" t....ntt or __ u_. to L.Indar In nMJJQn.. to Lendar', dllmand shall: Mtidy dw: ~ lor wftk:tt the ~ .. ,....." ..... Of not .nv propar grounda lot the c:Mmand ui.I~. Lanttar may axerdl. hi: rlghtl under tN. ~aph ....r In per.on. by qeAt. 01' ttwQUlJh . recen.r. ....... -....... In Iha IW8m of . .uti being &nattuC.:I 10 lot'adOM INa ~. t....dfi __ be ...asad co ...,. et an" 1ima ~ ....ch ~. ....it 10 the oourt NvIng juriadlctlon tt.r.ol tor tM appointment of . ~ of eny or lIII of tM PtopeRy. and of II ...... 1Aoome., Pfoflu. I....... and ~u.. ther..1. from wMbo._r .ourea. The part:_ .... that '*'* COUl't ... 10 maka any payment tor t.... 01' maOea. ...., marnber wllhdr__ tram or 1ha dath cat "'Y mwnbar. 1M ....mant for the '-'eftI of~, uptey or kl.oav.ncV 1_ by 0' .pnlt o :ot' .a:.. c::> en ~ ~ ~ .. c...:o c::> ~ (.n Agenda Item No. 1683 June 22, 2010 Page 32 of 40 L_ No: 11002459 ASSIGNMENT OF RENTS {Continued} ......3 fOflhwtrh eppoint lUd'11KlliYef with m. uwII powers WId dutin of r.~ In like c.... Sucl'lllppOintmem 5h" be m.a. by tIw court .. . ,.,.. of.uict ri;ht Il:IleIIcIlII and without notlol to 0,..... and wlthouI '.....-clIO thI ~ or ~ of tM ..... of tM "-'Y. or to GfIltItor'. ~ or aft,......... PIIW ~ to auch...n. Gr.ntDl' __ ~ w.- the..... 10 ~ tD 1M "f'f . ~1.lWA of . ,...,. and ..... thII: IIJCh 11l1l~' .uMl.t IMII _ nlIlDe .. WI ............,IIy .... .. ...... of ~ ,..,... to Lender, .nd CCIIIMftta to the 1PJIOIftU'nM'j of wry 0,,"* or ."..,.. of ~ .. N~. 1...-..,...... the rigtW to haW . ,.,.aver appoIrtttd 10 UiIu ~ of .. or My pwt or ... Property, ~ .". power 10 protlCt ... "...... the PrGI*IY. 10 ...... the Ptopeny pt..... forKIoILn or ... tnCI to coIecft tM .... from '!he Prap.ny .... IppIy the procIIeda. owec .. ... ... goet of tfw rtl......... IpIMt ... ............... T..............,...... WiIhDUt baftd If ...,.,.,Ihd by ..... ~'. rIghr to 1M ~r . .t>._'It of . r.cerv. aMI .... wMthIt or noI the app..m __ elf the Pfopeny eXClIIIdIlht ~...... by. ....... amoYftt;. Employment by ~r .hldI not d_-"'Y . ~ from ..NIng .. . ~. o.Mt......... L.nder ahd hwe . em- rlQlltl Md rerMd.. Pfovtdld In tHa AalgnfMnt OJ{ the ,.. eM' by lew. ....... ef.......... Bec:tlon by- l..-r to purlUt .-y -~ -.. not exc:ll.* JKQUIt of eny ottw remedy. .nd ... elHtkln to m_ ~ 01 to t.. IICtion to perform .. abWptiDft of Gr.mor undIf thla "ulJ 4MlI4. ...... G,...... Wlure to perlonft. ..... I'IOC ,ffwc:t lAN*'. right to Helwe . dlhutt Met entC:lae ItI ,."..... A~' '-:......... It lM1d., InatitutU eny Iu.II: CIt action to errbce .nv of the terma of ttW Aula ..1._4. lAnl:* IhaI be .ntttt.d hi ,.."... .,ch aMI! .. the court m., ...... I'MIOMbIe .. 1fftOl'lWtI' tHe lit trilllltNt upo" WI, 1tppNI, ~ or not Iny co..m IICtion . kwoIvlId. Md to thiI --.nt ~ ~ bv "w. .. .......... ..... 1ANIIr lnckn thet In LMIMr'. opinion we ~. any time fat !hi pratecliDa D1' hi ~. 'IM..-cement of.. nghh'" MoorM. 1M" of tM Indebtlldneu p..,'" 00 ........ .... INU ... Int..._ u ... Now r_ fnlm IN .... of 1he ......... unt:I,..... ~;O... by IhlI 41....... ~. wtchout 1nI1tdcln. ~ aIIb;IcI: to .ny 1ItM...... ~... ~. ,....... dOf'f\eYII' '- and 1..8ndIr'l IiIg&I ......... ...... Of not theM II. a ---. inCWinD ,...... 1ItIOmeYI' .... WId ......... for ..ktuptcv proceedingl ClncIuding .tton. tD nIOlify 01 vacM' My' MItOI'ft8tic 'mv' Of injunction.. ........ -net MY W'lticip-.d ~1I1'*'t 0DIIctI0n ..".., _ ~ 01 ...-chiIIg"". ..... t.... rwponl tInc*dnv larecIoMn fIPiIl'lUI. ~. 1'IIPClfW. ... ........ I.... ... Nur-.cll. .., f... for thI Tnmw. to 1hI .Xhnt pM'mln:KI by ~.. Gtlntor 11110 win pay ."., court 0DItI. in eddItIon to tit other Il\rMI provilIId bvlllW. ~..ulM IIIIIOVI5IONS. TllI following ,"~ICllaMow proWlIlonl ..e I p.n 01 ttU AhignrMflt: A - . .tl.. ThI, AuigmMnt. topdwf wtth ltItut.. t"- Int" unct."lldrlQ end ...."..m of thI partIeI .. tD 1hI INrffiNS .. forth 1n ftlis to ""- AulQnmInt ..... .. effect" uNea ~ in writing Ind IignId by the PW1Y Of the --....on or ........... CIpdon.......... C41ptian heJdinga . ~ only Ind 11"1 not 1'0 bI us.ct to IntIrpAit or define _ prooNiorIs of tllil A..1p " .J-- Gonmk1I Law. ThIe ~lIlr ...It: .... ..... of 'ChI S_ .. 1n......ofFlorlda. a.-. of V..... If there . jufWdiction of thl COU". of Coliill' Ccu1ty."" 01 Aattda. ~. n.r. cn.a be no __1ftY1fmehlldbyorforN ............ 11 t 1n.A C:I lingul_ aMI be deMIId to h ..~"..lgnll*l1.s.Gr lender ftlwy ... WlY OM or fiM, ... thlIt Borrower nMd not conwniMc:ll JlIM'POIM only. Theoi No w.hIIIt '" LInder. lMld. .hll AuiQI'tIMnt unIeM .aach waivtt .. eN'" 6n wrting Md ... by Lindow. No MY riGht Ilh4IIII oper.ce I' . wlliwr of ateh tIthf ar ....., othIr fight:. A w'" by pre;dce 01 can.tftuttI I Win of LaIdw'. righil~to~1tJ1ct: of1tlls.f.uitnmlnt. NDpriorw"bv~. ngr _ OCMM 0' _ling: bItwMn LMd<< 01 MY of L..-IdIr'. rIQhtI 01 0' My of GrMtof', obIifItiaM .. to ....y fuIun ull'l&lCdont. WheM II ~IrN unciill' thII ".IdgnrMnl. eM ..,mng of suctl conMnt by ~'r m IInY InltMe' ...... not ccarmltute oonMnt to ~ InstlrtCl. whIrw sud\ c:onMnt II ~ .nd '" .a ~ IUCh corw.nt mrv be granted or wlthh.1d in dw ... liIacrItion of Lender. ~. Awi nodae r~ to IMl given under tN. AlUQntMftt ahll be given in Wflting. Ind ~ b. eff.cti.... wMn ect"" dIWwId, whirl actu.Uy rllCli-=t by t.....e.imiII CunIeu otherwiM ,..,iNd by IlwI. wMn dIpotlttd whh . n.don..., recogniud ~ oouriIt. or. H m..... when dIrpoaihcI WI she LlAbad It... m.Il. .. fir.. daM. '*'1fiMI or regiwWect IIlIII "'*... PlepaId. dirRtld to Ihllddr..... Ihown ,..._r 1M Nglntlin8 of .... ....181""*01. Any party fftIIy cttIfIgII itI Iddr-. lor notiCl. ".... ttQ ....ISJI""*'" by aMng wrinIn notic. to 1M Om-I p.m.., .JMCItYlng thd ttMi pulpo,' of ... notk:l " to ch-.ge tM PIIl1y'w lOdr.wa, For no1lCI purpo.... O'."tor Igl'.., to lr.Mp Lendet lntonned .. ... tim.. 01 Or.ntor', cull'tlnt IIddr.... UnliM. othIrwiM ptOWIed Of r""'" bot law, If thare II more than one Orarl10f. ....V notic. giwn by Laneter 10 Ifty Gren"" II dMMed to be notice giyctn to .u GrlfltOf'l" . ... ... UIIRt not ............ by ...... ..._-..,.- o ~ .- ~ c:r. ~ '-.::II Q ~ ~ "'-> c:r. !"ow_. of Aa.omey. ThI v.nou. egMIcle. IOIi POWIr. of .nomey convevMl on lAnttBr under thI, A.~ .... grIMed fOf putpo.- of iMQJI'lry .,,0 IMV IIOt be r~" by OrlntOr untI.uCh time .. ttMr.~ .. rIftOUf1cecl by Lendw. k._AIU.. if. COU" 01 competent juflldk:tton find.I II't'( p1CWlelon of 1tU A...,ment to bllI~.. lnvlllld, Of unenforc.... II to .,., ~ thIt findinv .....11 not mlk. the ~ provieton w.g.&. ",valid. or UMnforCNtlle.. to ....,. other CIrCumstMCI. II .,...... _ off..... prwillon lhll M ClOt'IaIdlrId modified 10 !hit it become. 1IJg.1, v. and enbee..... If thI afftnding tNOViIioft c.noot bllO modIfiIId, It ... M ctlMldwlld delat.t from thia A.eigtvMnI. Un.... othltrwiM requiNd by ~. It. iIe8IIitY. ilw....,.. or u.....foc'CMbIIty 01 ..,y proviakln gf (hi. A..lgnm.nl .hen I10t .ffKt !hi lev-'hv, velldtty or 1In10fCal0llity of InY other pmvllton ottnil ~t. .~ MIl Aalgn.. SUbject to If1Y IImttatil;)ll" rtItId In thil AaIiQnmenl: on tflfl..f. of GrlnW', intarut. thi& A.uiQnment Ihal bI ~ ~ .-.d ....... to dw t.lllflt of !hi ~. 'lhIir ~ ...~. if 0--.. of.... Property bRonteI vwIIed In a petMftott..'"-'~""""', L....... wlttDutnot;ceto GrIOtor.m......wlttl(lqntOf.. ~wttfI~toWl "'1 [...._11 UlCS 1M .. J 1.\ .Ii..... by Wr-J of for~..._ or ...-..n-'on wlthout ,~ OrMMOr trom the obIptloM Il'f 1hle A.aJunmwn or IMIbIity unclll'thlIlnGIbI....... 'f1rIM .. of... bMnc.. Timl" of tlw IUenc:e In thI p.rformtM1c. of thi. .....ign"'~, .........,. AI........,...... _ ._.......,..... the rtgIIt 10...., jury tIW .,. My -*'". _ - _. _ nuntIrcIIIm ~ ..,..,. ~......t ..... 0" pwty. WANBI OP NIIKT Of IlEDEMPTtDfII. NOTWITHSTANDING ANV Of THE "...,VISIONS TO THe: CONTftAR'f CONTAINED IN TtftS AS8IQINMENT. GRANTOR HEAEB'V WAfllea AN'( AND AU. RKlHTS OF REOBAPTIQH A'lOM SAlE UNDER ANY ORDER OR JtJD<IMENT OF flOREQ..CJSUlRE ON SM.HTOR'S IlEHA\.F AltO ON BeHALF OF EAOt ANO fVf:RY ~ EXCfI"T JUDt3MSIfT CMDITOftI OP' GRANTOR" ACOUIRrNG ANY IHTEfEST IN OR TITLE TO THE ,..~r 'I' SUIISEOUENT TO T1Cf OAn OF THIS ASSIGNMENT. oefltNlTJOlla. The following c.plc-'iNct ....Qtd. erwr ,..ma ~l hlw the tollowtng mlllnirlp when uald In tN. A......rnMn. 1..Int.. Agenda Item No. 1683 June 22, 2010 Page 33 of 40 ~ No: 11002469 ASSIGNMENT OF RENTS (Continuedl "-4 tpecificdv atMed 10 1M contrary, 11II r."""c:al to doll., .-nountl .h.n rrJellfl amounts In 1.wN1 mgnly 01 the Unthd Sf.... of AmerieL Words IIld _"" w.. ill tn. singular IhIIIIIndude ... JIb., III'Id 1M p\uflli ah" Indude thl sInguIw. .. _ CDnID1 may r....... Words and t8l'mt not otherwl.. dtflned In thlI "'Iattnment ... hwII the ",""Inga ~butecI tel wch t8nna In m. Untfarnt eanwn.rclal C".od.: ,,~ n., wOfd ......m.nt- m..nl "* ASSIGNMENT OF RENT8. as thla ASlIONM!NT OF RENTS mav be ~ or moctHIMI from tIm. to time. ~, with .. Illhlblt, and achlldulu anacMd to this ASSIGNMENT OF RENTS from time to tim.. ~. n. word -EIorrowtl'. m.- '11Im.,.,. Club InoorwtGrl, LLC., A florid, UrnItC U....1ty eon.p..,v,. Dtt.uIL The word .Def.un:~ m-.ns 1M 0.1"'" set forth In this A..lgnlne'Tt in tM aection tmed &o.t'aJIt-. E.. of DIIiIMIh. TIw warde -Ewm af O,11U1t- meln eny of "" eventt of defMlk lOt torth In th" AalQnment In ttIe d,fwtt "Cllan of'lhill AI.aanment. Or....... ".. word -Gr.mor- m..n. Palmyt"1 Oub lmIutor', I.LC.. A F\orm Limited U~ CO"....ny. 0........ The WOtd -CN..ntar- ~..., .....MItof. -.tv, or IccommCldrion PIP1V of eJa'f or ,II of tM IncHIbtedneu. 0......,.. The word -Ol.lef.mv- r'I'lMM thII.,.~ from GuarllfttOf 10 lAndM', including whhDUt limitation. IIIU-anty of" 01 pIIrt of ........ .. t I -, The word .Ind.bted.... muns .. principal, i"__It, Ind othlr MlOUnt.. CMtI ... .xp..... peyatM under the ..... or ~ r..... ....t.. ~ with .. ,.,..... of. .mnaloftt; of, modlficltion. at. COMOIIdatians of ... ..~ ,. tM Note or "*-d ~ IInd ...., amountS lIIlp8ndelt Of lIChr.ncm by l.8nar to dl.ChWQI Gran1Dr'. otII~ or ....... Incurr" by lander to .nfDrce GrlfttOf'. ~ ..... thbi A.......... togetfw with interMt on such IftICIUntI; .. DtovlMd in this AMIgnrMnt. Speclftc:.K.,. wfthout i1mtt.tion. h4.abt.tIneM Inc:IucIM ttw future IIdvllhc.. ... forth in" Fublrtl Adwnc" pnMllon of ... "'ul. !l.._4. ~ wtch ell m.r.t tMreon. Lender. The word "Lender" I'M"'. &.Ii: of fQple~ Itl succuwr. SfId ..signs. N.... The WIlGId .Not.. ~thepromiaoty noteo.tedJalft. 21. 2006.111 1M origin" prindpIII_t of .82.7~1OO.00 from Gr.mar to lAnd., IIDpther with .a renew'" of. ............ of. mGdWtcat1llM Dr. reftnendnp of. CIIiNOIId~ ot. .net ~ for tt. promissory note or .....".m. Propertr. The WOtd .Praperty" ~ .. vf G ....1 I. ._..-..ctiongfthl.A.~. ~ ~ ..4:.... The -as ......... 4_._ob.. .......n..... HCUrtty ICJ InlftU"*"". .._..eAI. and doou ....... The WOld "Rents" m'lIlns fW.n ...... inCUtina, without dllPNih, .cfya/'lCtl r""'. profb Ieua vf ""fY kind end ........ ,.ceiveMdc:alltct~ont. Pf THE 1l.Yll IGIIm ACICNO All ~._..... HAa -- lnandto"lthePropftty..~inthli .....nta. iNn .grMf'l'lent., lInYIronmentll dHdL ~.. manv... VId ell other Ion with.. Ind.bted...... in, 10 .nd ~ any end .. PAI..ftt WId _. alOGOllftU I~, cat! Of ..curtty derived or tit be ~ from IUCh 's Iitht to __01 .ud1l...... Md to . A_MOT "'",...&IIY lOT AI or GMNTOft 011 JUNE 21, Agenda Item No. 1683 June 22. 2010 Page 34 of 40 loon No: 180024&11 ASSIGNMENT OF RENTS lConllnuedl PII8e II UMITED UA8IUTY COMPANY ACKNOWLEDGMENT OTAn OF f= l \) \L\ 'Df'T I COUIITY OF (blU E: lL :.. TblhoM'lIgDingil'l.tl'ufMntw...CIUIO~gedborfot.m.thll 1.,,'Y' d.yuf -S~ 2O~1. by o..w II. ...... ........ o. ,...,.. Club ........... LLC.. A ..... UnItIiIIILWIIIty eon.p..y, member tor .,nt. ott blttelf of _~~~A__"""'_""'-"""",_",_ny. !!I.......__, ""'...... ptoduo8d~~~ .. kllmiflCman Id not t....... o~ :\"'"''-''a. .,p .,......... IIIlAN>Y A.1WI/:lIa! ...bL. 1IY""'".SIlN'OOIIlm ,,~ EXl'1RE8:fIIQy 16,2007 ..,,'" _lln_....-. fNtome of Acltl\ow'-dger Typ~. "riM~ at Sllmpl'dl (T1t'-or A8ft'-) ISerial NumbIM, If My! .. .. .. ~ :::c:t .- c:::> 0"\ ...., ....,. G":I ...., c:::> ...... ClC> .. .. .. Agenda Item No. 1683 June 22, 2010 Page 35 of 40 EXECUTIVE SUMMARY Recommendation for the Community Redevelopment Agency to approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue leasing its current office space for a term of (24) twenty-four months, and authorize the Chairman to sign the Lease Agreement. (Fiscal Impact $23,046.(0) OBJECTIVE: To approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue leasing its current office space (4069 Bayshore Drive) for a term of(24) twenty-four months, and authorize the Chairman to sign the Lease Agreement, CONSIDERATIONS: The CRA currently leases office space at 4069 Bayshore Drive. The CRA and Palmyra Club Investors, LLC, a Florida Limited Liability Company previously entered into a Lease Agreement dated July I, 2008. The payment of rents bas been assigned from the Landlord, Palmyra Club, Investors, LLC, a Florida Limited Liability Company, to Bank of Naples. The Bank of Naples warrant and represent to the Tenant that it is authorized to enter into this Extension and First Amendment to Lease Agreement by virtue of an Assignment of Rents dated June 27, 2006 recorded in O.R., Book 4063, Pages 3024, et seq., of the Public Records of Collier County, Florida. The current lease is scheduled to expire on June 30, 2010. The CRA bas the option to extend the lease for (24) twenty-four months by executing the Extension and First Amendment to the Lease Agreement. The Extension and First Amendment to Lease Agreement reduces the base monthly rent through the extended term from $19.80 per square foot to $10.02 per square foot. Except as provided in the Extension the lease dated July 1,2008 will remain in full force and effect according to the terms and conditions contained therein. FISCAL IMPACT: Total lease cost is $1920.50/month or a total of$23,046.00/year, saving the CRA $22,597.00 per year. The CRA office lease is budgeted each fiscal year in the Bayshore Gateway Triangle CRA Fund (187) budget. GROWTH MANAGEMENT IMPACT: None. LEGAL CONSDERATIONS: The Executive Summary been reviewed by the County Attorney's Office for legal sufficiency. JAK RECOMMENDATION: For the Community Redevelopment Agency to approve an Extension and First Amendment to Lease Agreement for the Bayshore Gateway Triangle CRA to continue leasing its current office space for a term of (24) twenty-four months, and authorize the Chainnan to sign the Lease Agreement. Prepared by: Jean Jourdan on June 3, 2010 Executive Director, Bayshore/Gateway Triangle Community Redevelopment Agency RECORDA11ON REQUESTED BY: -..- _OllIe. 40811 T........ T.... N. SUIte 100 ........ PI. 34103 3864181 OR: 4ot~e1~~~~ 1~~6 DCOIDID in omcllJ, DCOIDS of COLLII{'~ tJ.f 40 01/29/2001 at 03:05PI DfIGI! I. BIOCI, CLllI IIC PI! ".00 WHEN RECORDED MAlI. TO: -..- 4011 T...... T'" N. 1uI.. 100 ,...... III 34'01 letn: GllODLI!'1 COLlW I! lL lOOI fAlIAII ,. I '3" KAPlJS PL 3m3 ll* ASIIGNMBIT OF IllINTS ....... by: NMMl: CynUN..... l.MIIng ~.dOQ ConIpMy: .... of ...... Addr...: 40tI T.n..! T..II N. Syib 100 , NapI... Fl 34103 ASSIGNMENT OF RENTS THIS A881GNMBfT OF RENTS .~ Jun. 27. 2006. iI mild. and executlld Nlween Palmyr. Club InvHtor.. LLC.. A _ t....- L_Rty ~Y. wh_ ._.. ,.1B P_ l.Mo _ 223. Nopleo. fL 34108 ,_ fa __ _ "0__"1 ond Bonk of Nopleo, whoM __ .. 4OIl8 TomlomI Troll N, B_ 100 , NoIJIoo. A. 34103 l_rrod fa __ .. "Landor" . conUnulng --=urlty Intarnt In. ~d _ Iwom .... IoIIowlng _bed ASBI_EHT. for vol"-__ """"YO lD Landor oil of Gr_'. P_Iooa.... In c..- County Lo.. 106, 108.nd 107, La KoI at "-93. of.... PubDo of __20'v_ ttalli The ~ or!to_.... RlTUIE ADVANCES. In ltCkIltion t adv~ .. mlde pu~ to . apeclfitd k1 m. "'*. IIU tutu,. . AuilftlM"t. tof4I'Mr with .. inf'~ TH. AIIIIlIIIIIBIT . GIVeN TO OIWCIATK*I OF GRANTOR UllDEII AND ACCII'T!D ~ THE FOU.OWtIIG PAYMBIT AlII) PilFORIIANCI. EJo:l:.-pf .11 MlOUI'III ..::end by this Alsignment.. . um... -.d 1.mtII Ltnder uarct.. Iu r1gh! to Granror nMIY ~in In poueuion MId eonIr~ ~~ the right 10 coIKt.... Rentl sn.u r.ot l;CRlatl1uta L ~ ~ ORANTCMra REPRBlENTATJOIIS AND WARRANTIES. Gr 0wner.hIp. Gt.-tor is .ntttWld to receive tile Ranu tr.. and clut of an righls, loanl. lien.. eneumbranl;.., WId cl.ern, e..cepl .. dddotI8d to WId .ccepted by '--"der in writi"ll. Ngtlt to ........ Grantor has the f\lM rlght, POWeJ and .uthor/ty to ent.r into thlI Aaaignn'ltlnt and to a,.ign .nd conYllY tn. Awrts tv L_. by LInd. to Gr..mJl whem.r or not tM ea, In addition to the al'nOl.IlIU my (201 ~. of tn. date of this eel DOCUrneM:I5, GrWltO' I5h.. PIlV to ~er Gr.ntor's ollligldiOm under \hi, AAlQnment. _ u.re i, no o.t.uIt under tN, A,aignment. coleet the R.ntt, FOVided 1Mt ttw arantln9 of .1 In . bankruptcy Pf~inO. No ".,.. AMfgnment. arantOl' hh not Dr~y ...ignld or amveytl(l ,,..e RenTS to Iny oIMr perlOn by Iny Indrumerlt now in foru. No ~ T...... Gr.nor wUl nerr MR, .../go, 8l'\CI.In'Ib<<, or lJthefwlM (li~.. of .nv of Grantor'l rights in m. ftent. Ixcept .. proWled in this ....m..,l. LEllDlilrI lIGHT TO Jlll!CllYE AND COLUCT REinS. lend01 ,hoK Nrve 1M righ1 .. .ny tim., ancJ IMJfI though M def.uh Shell hllve oceun'*f under this Auignm.nt, 10 collect and receive the Rants. For this purflOd, Linder is hereby given and gr~ 1M following liQtltS, po..,." 80d arthority: Motlc. Iill r...... Lender !NY aMd no1ieaa te ...y ..t all t.....nu of thl Property .d~g them of ti'M, Assignment end dir.w~ III "-* to be paid direc:ttv to L.... or lender's egant. EnWt..~. l.MIc*' may onter upoo.nd take poI..ssiOn of the Propwty; Clefl\W1d, collect and recelv. trom tM IIMnII or from eny 01her IM~ li.tlle tt.r.tor. all of the Rants; institut. and cany on .. Ieee' PfOcMdinge ~Iery for the prahl<:tton of the PropMty, Induding auc:h proc..dJngl .. may 1MI nKe...ry 10 raco"., po.....ion Of tha ProlM'rtv; ca"c;t the Ronts and ramove any t.....t gr 1~ or ottwr p.rsons from thot Property. ..........~. L.endN",-y am. l.CIOA Ihe PrOPlrty to malintain the Property and k.Mp thIi ...,... in r<epaif; to pll\l Ih8 costs tt.'eof and of .. .ervtca of ... emplovaa. includillQ their ~nt, and of .. C'.Crn\inuing COati Met ..-n." of mllinl.."lnglhe Pr~ In prop..- ~... and condition, 8Ad .-0 10 P'Y .. tllX... ......m.nn .nd w_r urilhllll. _d 'ttw premiums on fir. al'1d 0"'- in__CI ~ by lenci<< on trl. "rOD.rty. ~ ..... L.._, Lender m8Y 60 ....y MMi .w thing. 10 oecute end tIOmpty with thot "WI of tho Statio of Fbri6a end ,Iso .... iJCMr..... rules, orders. ordln.nces and requiremwltl of .11 orner oov.,nlMnlal -eenciu. .n.ctinll thl Property. lMee" fI'ropeny, ~ In8'f f.-tt or lease the whole or any pert ot lhe Pl'optlrtY for aiCh I..m 01 IMm. and Oft aud'I <:oftdmonI .. LtIndM mav deem approprlllll. e....., ......... I..etw:I.- may ~ IIUCtl agent 01 .genlS I' ~ may deem sppraprillle, .nh.- in lender', "..-nIl or in OrBnlQr'. nama, to lent .nd m.t'ljl' 'ltw Pl'OJMtl'ty, including lhe call.ctlon .nd appJiclllion of Rent.. e-. Acta. letIdaf msy do .11 auoh othM thing. IInd acll with ,,,pect to the ~ I' Lender rrwy deem ilIPProprilte end ""'\1 aet .~ 80d I.oIety in the place and slead at llrentOl and 10 h.". "" of lhe power. 01 Grentor tor the po..ItpCI,.. -'It <<I ~YII. Agenda Item No. 16B3 June 22, 2010 Page 37 of 40 Loon No: 11OO24lI9 ASSIGNMENT OF RENTS ICon1Inuedl P_2 No ............' to Ac1. lAnder ,hItI1 not tM 'Iqund to do M1V of .. foregclng acu Qt thlnga. eM ... filet 1hat a...ncIIIr 1'-11 -.v. pertonMIlI OM or men of 1M forwgoIng .eta Of ttqI ,hall not r.,.w. UnMr to do any other lIPlIClHic IM:t Dr thing. APPUCA110II Of ftBlITS. AI com MId ........ mc:urr.d by Undw In connectiDft wht\ tM Pfopefty ... be for Gr.mor', ecCCQII: wid ........ f'MY __ ... coats and ~ from thII A.nta. Lendw. In ~ .. chor.ekan. .... dMImriM: Itw ." -01..._ of WfY .... .. AInta ~ ... It: howww....auohAlnta......bylMMttr.......not-.*..oIUCllOOl1t..................be _w to ... ............ All............ by LAndef und. thll AlaignrMnt and not ,..mtu.. from the ..... IhIa MDDmt . part of thl 1l.dwtd~_,4. teCUNd by' thiI.. IJ., _"....1. .ncI shIM M P....... on ........ lllIfch ~ at .. Heft r-. from dnI cd ~ untI ..... fUlL . _L allCl!." Grlll'\tot PIYI' .. of the 1ndIOhId..... when due .nd otherwlM ~ ... tM obiDIItIonI impoMd l.IPOn Gr-.tOr ......, 1tU ~ Ihe Note. and the IWa..s Oooumwttt.. lAnd. sn.a lucuhi .nd ...av.r to Gr_ I ...... ....1lCIioft 01 ttN ,.,. J........." WId ~ abt~ 01 HrmIMdon of WlY flnMClnt ....,.... on IfIft ~ b".,', NC;UfMy inte.u' in the...... III'ld the ....opMy. Any wmin.... 1M ~ by Iew shell be p~ by Gr__. if permIUed by .......... UIrIDI!It'S EJOIIlIDItUfES,. tt -'Y ction Of pro~ I, CO/ftIIWfIcld ttwl: woukl ..-wty 8ffIlCt Under's...... In the Property Of If Sf_,. 10 comply wMh .ny pl'O\'Ieiorl of this ~,,'. WI"""" or al"f Rtf... ~ fnoIuIIrlg but I'IOt ......10 (kantor', hilur. to dladWge or paf' WI'MIn clue .ny emounta Grantor '- ~ to eIIaoherge or ply........ Chit AI......_ << .. ....... OoctImrrtta. LAnd... on Gf'MItor', bth8If may fbut Ih.n not be ~ tal Ilk, env acdon mlt lAnd. deemI lPPI'oprIMe. ~ bln ftOt IimItM 10 ~ " PrtlnO .. tun. .... ucurhy Inter_. MCumbtMCa Md other cl,knl, It any fIrM IrIiId or ,..., on ...... "-'h GI' the ~ ..:I paying .. colts for m..tna. ~ al'ld pr"eMna tha Propflf1Y. AM IUcn .......... Incurred Of peid by l8ndef for auch ......... wII then bur ..... . 1ht ra.. cbwged. ..... 1M NoM from the ... inClLll'red or p.id Dr unDer to 'the ... of rllJMYl"HM by Gc.nw. M 8UCIh ........ wII becvma , part of'" WMbtedMa. Md, . l8Nter'a oprioIt. wII tAl M ~ an ~ III N edded 110 .... ..... of th8 Now MId M ~ .-one IIftd be ~... with Iny ....... ~ to tMcoma ... du'lne --.. I" ...... of..., 8PPIic'" ........potic:y; Of (~ ... 'em.irWntWtn 01_ Note; Of (0 be"...... _.1MlIODn ~....... be due.. peptQ at thII NotII'.lI'IaturttJ. n. .......ment .. _ ..aur. ~ of th... .1IICK.I'tb'. Suetl right.".. be in eddItIon to .. othlIIl'Ighte and NMdI., to wtlICh UncI.. mllY tNI entit*S upGn DafMltt. DlfAULT. Each 0' ttw toIowIna. ... Lender', option, .h.a con.mut. .,. EYtnt of o.t-.dt: undlN' this AniliJr'l'M'nt: "'yIMnC DahIuIt. Gr.-rtor t. to m.ke any payment .men er the InlM~. 0tMr DIMuftI. 0,..... f. to 0llIftIPh0 wlIh , ~ ~ or concHdClft contIinC In thIa AaignrMnt or 6n "'v of the Ael.. V tarm, obllgadon. cavan.nt Of condirioft conuinad an ..,v DIhar ....mant: batwun Lend. I ~ _ __~. FtIULn InIuranca. 01 any odW' Daymef1' nlc . ..... .. .... of 1'bIr4...... Or .......... rJIl ....V odw in artntor..ebillCytoparfOtfllG r'. ,... .w..._.... Any wIn. IhiI: &nfarm.m or the AeIn.:f Of' bac:aI'ftM faIN or mlatNclng ~c..tal'lIIIIdcM. .-ry coa.... doc:um.ftt to cr. Dtttb or~. Tht the Imlted u.biitv 00fIIlP&nY. or lftaoIvancyofGr..,tof." wry type of cnditOl" workout, Of Grantor. ~ or PorftIbn Pl'a ..1_, . whether by JudiCial procHdlng. "".hlllp. "" ' - 01 .wry odw mathod. by a.vencv .net ,he .... or .ny pf'OpII'tV ...... tht MctetR...... Thill . including ctepca.M ecc:ourrh, with Lenar. HDwwar. .... ev.m of Oaf.- .... ncn Gr.-wtor .. 10 'the weIIdIty or '-..on..,.... of the cWm which II the bnit of the IlQdltor or fvrf r givn Land., wrm.t tlliIIiCII 01 tho crectlrol or torf&Iture procwdng end depNtrt with ~nd... mgnie. or , IUtetV' ClWIItor or forteltur. proQlN(lIng. In ,n MIOUftt cm.rmlnad by lrder. In" sol, cberetion. a. belng an adeQullt. r..arve or bond to, the diaQut.. ~ 0....... or Lou. Tht Properry i5 lost. .toIen. subctanTll1lly dam.gad. amd. or borrow<<l aplnst. ....... Att.c6lI Guw_. Any of th& p'eeedlno ~. oceurt with raspael: to arty Guarantor of any of ... ~ 01' In'Y' ~ dIM or t.e.:o..... ~em, or I1l'tOU& or disputM the validity ot. or lability urGr, MY o....-y of U. Jndabe:.--. In the evw\'t of. death. LerxMr. . IU option. may, but ..... not be ,""Ired to. permit the au.-wnor'. .-. 10 1IMUI'tI' ~ eMobIig.Itiona wlaine unct. the Quwlnt'( In _ m"""w .ati.fac:tofY to Lender, .nd. in doing '0. cure 8nV Ewm of DeI.dt:. A--..~. A nMterWll IIdWtM ~ oce..". in Grantor'. finfltld.. condition. or Lender behY.. the proapect of p..,ment or DIt'fonnanc. of tfw Intlabt...d._. b: implired. nwnt to make .nv 1).yment fDf te... << .... MOJRlW' .....m. pwc::hNe 01 ..... ...... an" of Or...... property or b, ar.mor or on o.-antor'. behWf und. now Of . b time mede or fumi&t* forge .nd ~ UncUIng '-1M' of .ny r....,.. medel. eny .-rnber wtthdtaw.1rom DI' tIw dMIh of ..,y "....,. thI ,aignrMrtt #of the bMettt of credIcDr., or inlolwncy r._ by Of ItQIIInlt C> :=0 .- c:> c:r. c..;o ""ClI c;':I c..;o c:> "-' ~ 1natwdIy. Lander In good tahtt bellan, hell "'ltlCUfa. CuN PnnlII:IonI.. If -V d.f&ltt, OtMr' thaa . detauk In peV"*\t II curllOla end " Gr,ntor his not bHn gIwwt . ROUOa of , ....Ch of the .em. prDYiaion of tN. A..lgnment wtthIn the ptN_1Ag twaf.,. 1121 tnQnt:h.. It may be cured If GtllfltO(, after t.~ing wrIttMI I'IOCil>> from lender damtndine ew' of.uch dill"': 11) CUl"eI'" dltfUt within tan (10) d..,.; or (2J tI' h cure '....._ mon than ten {1OJ days. inwnad&etaIV ~ ... 'IlItNch lMIdw .....,.. in LInder', aaIa ditcNtlon !to _ IUfftcieftt: to __ thIt del.. MIl ~ condnYn: Md comp/aItIe. all tMIOtleblt and naceuary '.. IUfficlItnt to produc>> eomphftee .. lOOn .. ~ ..-. RIQHTI AMD _DIES ON DlFAUL T. Upon t~ occurrenc. of lAY Event of Defalt1 and at env tl..... therald1er. Lender mey .....0.. .ny OM Of more of the followinQ I'f8h1w and remedia, in addltlon to any otMr rigtftl or remedtal prowldtd bv I1M': ~ a-' I 1 . _ L~ .h.n I\IIw the rWu at b oPUon wtthout notIc;e to Grantor to dllc*ra <<'I, ...m,. 1ndlIbtedRM* i.._.......~., dut end pav-*. 'ndudln; any pt&Peymant pe.nalty which Gr.ntor would be r.quir~ to ~V. ~........ lAncMr....... hIIvt ttw ri;ht. wtlhou1 notice to Grantor. 10 lake po.....lon of the Praperty _net coIIec:t the Rut.. tnducllno 1lfnOUnt. PM1 dull and unpeid. and apply me nft procMd.. over ...s .bow Land.r'. 00I;t&, ~ the Indtbl:&dnea. In furttwr_ct of tfU right, L.-.nct... .haiI ha.". .n the riehh provilHd tor in the Lender'. PII9N to ~ and Cohct flent& Section. Ibaw. "the Rent. .. coIIIoctm by LInd.-. then Cirerr10r i~ dMigutt& lAndllr .. Ghntor'. .-.....y-jnMfllC:t to ....... ~ ~ in pavmMt v-.oI in tt. .- of Gr-.ntrw ..... to ~ the __ ... ~ the....... P..,...,. brr ....... or other .,... 10 ~ in ruponIla' to LInder'. ....and ..... Mtiefy ... obIQiadonI. for which 1M paymema .. ~ WMItW III not _n" propw ground. for tl>> dilmand .xi.tlld_ un.... mav exwdH its rights UncMr th. aubp...._ ....r In parson. by ..... or ttwough . ~_ AIIIM*It....... an the .veM of a IIUh: being InaUtutad to fONdo.. ~hlI ~ lAncMt ..... be omtrled to IIPPIv .. any time ~ IIUCtI ~,. euit to the QIXIrt having;..rtedlc:tbn dwNof tar the ~-lI'll...t of a ,.c:enr.r of any or .. at " Property. M1d !;If aft ranta. Incomea. pt"Qth:.. ~ *1d ,.wnue. thar-.ot. from whatlPlewr IlOUtce. The pert'" -'lJf" that th. court Iohatl Agenda Item No, 1683 June 22, 2010 Page 38 of 40 Lo.. No: 190024&11 ASSIGNMENT OF RENTS IContlnued) P_3 forthwith .ppotm auch tee.....' 'fIrith the uaual power. and du11u of r.~iv8ffI Irl like c.... SuCh .ppuintment .i'MIII .. rnede by tM coun .. . rn.n... of strict riQht 10 lMldw anet wftt!ouI notl" to GrMtOt. _ without ,-'....nee to tht ~ Of ~ of the ..... of the Proptrty, Of to GrantOf', mNency Of ....y othM PMtV ~ to .uch MIll. Gtantot""""~ WMv. the rlgM to ~.. tM ~rnMt 01. r~ *lid..... ttwt RdllPl'f' "'MIlt...... t. mIlM..... edmItted IqUiIy 1Iftd.. rn.n. of aIW<*Q r!gllt to lAnlIlIr. and COftMOtI; to thlllPPOIntJ"Mnt at.nr officer or empIDy.- of lAnMr.. r.cetv.r. lArtlMr.... t.w tM right to tdVe . '**'- IlCJPOIrIMd 10 t.. pouqlAlM'l of .. Of MY pwt of U. 1I'roperty, wtrh the pow..- to proe.at ..:I ~ the Pn:Ip4rty. 10 __ the fIr4Ioerty p~ tondoIurt Of ..... ., to coIecr the RMu fwom the PropMy and .ppIy the proc..... ~ _ ..... 1M .... of the rectiftr..,. ~ thI Il~.... TN ~ ""Y .-w wtdIDUI bMd If plll'mtmlcl bf '-w. lMnIhr'. "FI to the ~~i .l.._11 of . f1IcWver .... .. wlMrtMr ~ not trlt app..,.. v.a.. of the ~ UCMdlt 1M .......... by. ......., amount. EmpIoylMl"lt by ~ .M111'1lJ1t diequlllify. ... from ..,...... .. . rKelwr. 0Itw........ l.MIder sit.. ~ .. other rightIi .., remed_ provicIM In tN. ....". ..__1 or U. No1.w Of by law. ....... ............ ElKtkm "" l.encWf to puraue.ny Nl'Mdy aheII not ~ pwault of ~ othet ...-.-tv. ...:I .. election to make ~ Of to ..Ita IICtIon to perform an obIIpdon of Or...- under thI$ AMlgnmMtt,. .tier Grwnot', t.iIur. to J*fatm. .w not ,fNCt L.tnc*', tight to ilMlC'" . daf..,n ~ ..... III ,...... AttarMy1I' '-; ~.. If lAnder InditutM .ny ,uIt Of action to enb'~ ..,y of the temIIi at thk ....._ .._4. Lenar ... be ,nlit*I to ,...,., IUch sum .. 1M court m..,..... ...-...... a&~' .... lit trt.Ill'ld upon env~. WlWttW 01 not any CWIt KtiatI " ImIDlved. Md to tM U1ent not prontbited by .... .. ~ ........ l8nder incun tha .... ~'. opirtion .re AeClIlIMrV . MY thM for the pr~ ot Its ftNtnt or ttw enfor'CelMllf of It. rights.... become . pan of thllndIbI..,.. pay'" 011 ...... nI ahIII ... Intw1IIt lit the Mole rat. from the .. 01 1M uperdt&n und ,tPIid. exp.nMl ~ twy this ....,_ ~ wHhout hit.don. ho--.r tubjKt to any IimiW ....... 1PP1k:CII. &.vi. ........'. ,..~ lIttOfMya' 1-.. Md !..Md.-'. ~ ....... ........... or I'm thefa1 . . lawU. IncludlnQ reMOft..... ~. .... MCI .~ for bmIIruptcy prOC*d11'lglJ tlncludlnt .ttgn. fa modify 01 Vllate .111' ad:omdc .t.... 01 Injunc:tton). ~ .net ..., ~.. pMt~ coa.cdDn Ml'Yk:ea. the CGCt ot aMfChtRg NCOI'd.. obqjnlng em. repon. CInducIng fcwecINuq;~. ~' ,...,u. Md IPPI'__ ,..., tltIIi Nur-*. ..a f... for tM TruetM. to 'lhI1tX1W11l*mlftlld by ~liubfe- h1w. OrllfttO( 1110 wHI paly .ny COUI"l: CMb, ll'l IICIdIdon to .. 0'ttlIr sums provicMd .., "w. ..ca..t.A~ II'RCJY8IC*S. TM loUoW'ing mlac.....ouIJ pnMlionl .,. . pIM of tltl. .....ignment: A..Ilei........ This .....IgnfMnI:. t~I WIth .. tt. .-.tir. undIr.tand....g .nd .g....rnent ot the 01"" . IlJ 1M m.n.. ... kwth irl thiI to !hill "I .:. "'.*" ....... bI eftectW4l unIen gholtn m writftg 8nd ligned by the p<<ty or the ...1ItIon Ol' arunc&nwn:. c...--........ ClfPlion hldngl i only Ind .... not to .. und 10 intIrpret Dr definl the ptOvialorul ot mi. "..ign.m Gowrnbt L"._. ,..... At' _ .._.1 . '" .... aunt nDt ......... by ....... ...... .. ..... .. tN ... .. ... .....1IOCMIfIIIICI by UNleT In 1M ht.. of AorWa. ChI*:8 of V..... "thltt. III ~ccion of me coun, of CoIi<< County. Sa.-.ot Rond.. ....... T... atMI t>> no tier int.-est 01 utl1e In the Property .. ..,ytirMMldbyOf tor.. Ni.... ............... t1) In 11II c:. orela uMd in this A"lOnmem in the .i.. aNI bit d.-med to r..... 12) If more INn on. peqon aigntthll~I...Gr,," ......ttm:tf1.ondlrbnl1lll........,., l.... INY ... .". one or 1Mlf*lIl. ~ MId Mt aut 8orro_ fir.. wid tftlt Borrowet ,.., not or Rc:tIonIln thit A.~ .... lot con\llRiw'lce pufpOMI onty. They ....lllIlII'Ml'It. No WaIwr "" L........ Lend. .h" AuignmInt un4us such wIlv<< II giYlllllft M1ting Ilftd ..... by l...... No d MY riOht .h.1 opw-. .. . w.....r of aueh rlgftt or ...... om. right. A w""'" by prfli,dc. or COMtil'ut-. I w.w.- of l~'. right ottwwiM to 0emInd lltriet ot 1hIs Anlgnment_ No prior w... by L.o.. not ..,. COUrM .. dMIInt MtwNn lAnlMr of IiIfV of lM1dw'. ~ or of any of GrMtDf". ~ .. to ...... Iutura tr.....cdonI. wt.nt It. '*J.llr~ under thII Au6gn1Ml'lt. dw ...ttng of suctl connnt by lAnder in .nv lnlt.,c. ..... not CDMtitut. ~ to ~ tnsunctl whIR MICh COI\MItt I' NIQIUirId and 1ft .. eaMI MJCh con"," m..,. bII QT"1lI'tttId or wlth....kl in t.... ... diM:retkrn of .....-.:s.r. IIIoOcn. Any notice r...,nd to be ~.,.n under this AhionrMnt ~ be giwn in writing, Md .~ b. .tfKti... wtlIn .ctudv .,..,..., wtwn .ctudy rlCtlived by t"'f.~ fur*.. ott.wiM IWqUitId by I.wl. when ~ with . ".don"'" r~ed ~ c:ourI.-. or. It mallad. when dIpo.MId if! IN United St... mall. .. fir., c4-.... c..m.d or ........ed m.a PNt... PTIIP.ld. cltecteld 10 thI Mtdre..ea lthown Mill" tDe ~ of ttv. AaiQnrM>nt. Any PMtV' m..,. chin... Its 1Idd...... tor notlCII undIr t.... A..~ by giving WTItttItI notice to IN 01""" pMti.., .t*:1fving ttwf the plJrpMl of the notiol i. '10 ch... the PITtY'. Iddr.... For notic* JIWl)O.... Brlmor .p'''' to IMP Lend., IntolT1Mld . IIf rim.. of Gr.ntor'. curlWlt lICIctr.... I)nl..& otherwi.. pIOvlcled or rlQlJind bv lIw. I' thare is more. than one GrantOf. any nollcl given bv l.n4IIf to 11'\';' Gr.".OI . dMmed to bIi notice gi~ to _I Gr.mors. P...... of Att.IrN1'MV, The v.rtow; ~ciH end powar. 01 8ttOI'11lIV Ctln....y.d on lander Undlll thft Aaignment .,., grllfll.t for JHIfPO'" at ucurity and mIIY not be revPke(l bV Gt-.ntor untiIl5Uch lime H \h, ..,.,.. "I rwJOlJnced by LencNr. Socl.40."'., It. OCM.Itt of competent jurlldletiorl find. ...,. prDYiaion cd this A...ignmllnt to be iJleQIIl, lnwlld. or unlf\folChbll .. to any ~ce. th.t flndlng liwll not fM,U It. o~ proyiMorIlIIIIvlli. inqIld. or UI'MInforteeW. .. to 8l\Y atMr c1rcwm~~. If ......... the ott.hding ~ ahd be c:oonUI.... ftlOCImId HI 'thld It Mcoma 1eg.1. "'* .rid entorcalltM. It the ~ng 0101riIion C*MIOt _ Ie) modIfiId. it'" tit conaidered d." from thi&~.'. ,Ilei.l(. UnIeu GthIrwiM ~ by l.w. tNr -.a.IiIy. il'lv.wity, or UMnlorcMbIIty of ...v prlJ~ of tN, AulgnlTJ8n' .n.U no, .H.I:;! thtIleifllltV, .,,811d1ty 01 IflforcMbiIitv of.ny ottIIr proVIIiIonolttlll~. SucceuDr. ... A....... Subtlct to any limitation' It.HeO In thll Aaatvnm.-n: on tranaflll at Gr.ntOl". intar..t" thlI. Auignment &t\.II bI bindIno uPOI'I 8M inur. to 1M blnlfit of the partin. thlir IUCCl8MOn 8M ....... If ownwshlp of m. Propeny ........ \I'IIMId in IlM'I"aon othIIr m.n G.tNltU>l". L....... 'o'riItto&.n nota to Gr8J'>tef. mwr" with 0,..,..... ~IIOB wtth ~ '10 rhi. "".~ .nd tM ~h.d._. by WfIY Of torbhr__ or ~n w.~ r~ Or.wnor "m the ~ of thla AaaIgnmern Of >>-bility UnOlr"me Me~I. TJrna II elf... e...c.. Time II Of the ltUMC>> in tM performtmee of tm .....Ignmant. ..... Jwy. AI........... . ..._.l......., ...... .... right ID my jury trW .. MY Ildoft. ... .. .... Gf 0IlMtIrlr'dIIIm bnMght ."..., ___ .._t My..... pwty. WAN8I M NIIHT Of REDl!MPTtoN. NOTWITHSTANDING ANY OF THE PROVISK)NS TO THE COKTftARY CONTAINED IN TWIS ASSIQNMEHT. GRANTOR HEAEBV WAIVES ANY AND ALL fIGHTS OF REDEMPTION P'fW)M SALe UNDfR ANY ORDER OR JIJ()(IMU(T OF FOR!Q.OSUM; ON GRANTOR'S BEHALF AND ON IEHAU' OF fACH AND EVERY P'I9aON. EXCEPT Jt.IDOMeNT CAEDfTQRS OF GRANTOR. ACOUAING "'1lrV" INTEREST IN OR TTTI..E TO ntE PROPEftTV SUBS'EOUENT TO THE DAn; OF Tl-IIS ASBJGNM!NT. DEf'INfTJ(JIIg. TlMI follQwlng c.piY.lUaod _dl and twmI .'-11 h.v. tha following m...lng. wftIn u,aod '" !WI .....lvnlf'Hlnr. UnI_ C) ::>:I .- c:::> en c...-. --.:lI ~ c...-. c:::> ...... en Agenda Item No. 16B3 June 22, 2010 Page 39 of 40 ~ No: 18002468 ASSIGNMENT OF RENTS IContinuedl "-4 apecffically .~ to .... contrary, .n ref.enc.. 10 don... Il/'I'\ount. -".., mean .-nwnh In l.wfuI money of the Untted Sf.,.. of .i.m.rlcl. Word, _ ter"", UMd '" 1n. ....Iar Ihllfi lnaIuIM ttw pb.. and 1M plurlll ,h" Indude .... 1kItu'-'". H tn. CDmP11NV ,..,... Wordt. Iftd term. not odwwIA .Iined IrI thi. ".aiDn"*"t wll hltW 1M lManW'lp. IIttrlbutwd to IUch mma In tha Uniform ComrMrciIII Codie: A~ TM ward ~A.....m""'. m..n. ttw ASSIGNMENT OF RENTS. .1 "'1. ASSIONMENT OF RENTS m.v brt .....nded or rnoctm.d from tim. to time, togIItMr with .. u:nltlh end Icn..u'" 8ttlchM to tftIt ASSIGNMENT OF RENTS fl'Qffl tImI ro time. _...._. T~ _d -Botrower- m..", p.lmyr. C~ "''''ut~, I.LC.. A F1arld, Umltlld UabItIty CompMY. o.e.utt. The word "OI1lult" rn_n. thIi o.f..ltaetfotth in thif; AI.igM'lel'1t In the MCtlon titled -Oef-.,te-. fWWIC of o.tIl*. The words "event 0' o.t.,tt- me" any of the WIIM. of dMauft set farth In thla' A..lgnrnem In the defeult ..ction of'lf'lili AaignrMm, 0IInIDr. TM _rd -Grantor" m....s Paimyora Club Inv..uw., I.tC., A Florid. Limit-eel Ulbilltv C~nlt. ~. Tn. word -au.r.ntor- m..n. ...,. ....ntar. -..raty. or .ec:ommodwticHl plM'ty of..., or" of llw IndiIbtMln.u. C____. The wonI "Gulr.My" mMM tN OU...lIf'ltY from Gu..r....tor to l..." inctudinsl without limhlltiDn . gu...anty of .. or PM of 'ho"'" h hLb..1__. The word "Ind.~....... m...... "I prinap.l. lnterl~. ~ ot,,* .moun". OOlt. end ........ pee",**, und., tn. N~ 01 AIiIated ~ .....~. ~ wtth I. ftlMWM of. ntene60na of. modlficet.ion. uf, ~ of.-.d tub.utut6ona for the NottI 01 ftetIIted DuCll ~"fIb, end any .mountt ~ Of ad~ by Lender to d1ld1eir~ Ol'llntDr', obIIglItlonl or npII...... incurr'" bv Und<< 10 _toroe Grlfltol'. obIIptIDM UNIer thII A.aJcInnwtt, ~ wlth InIerMt on lUeft amauntI u ptO\o'idlIcI In ttlie AMIgnIMnt. SpeoIfic"", without Imttdon. ~... IndudeI thll futUrl ".,ane.. .. fanh In the futunl; .t,dYlnel. ptOvteion of thit Anignment. together with all i~....t ther.,n. lInlIIt. TM word ..1......... rnnn.. s.nt of N..... It. IUcen.... WId ".Qn&. N-. The wwd "Note" me-.1hepromiuorV notl dlted Jwtl 27, 200e. in 1M origirMII.........-ount of "2.7,&00.00 fram GraMOt to land.., tDgMtwr with .. rll1'\III'" of, ~ of. modIfi~ of. re,,"-dnp. of. OD~ of, .nd IUbmIutiona for the prominofy F'IOt. or IgrHrrmrt. "...,.. The wonl .Prol*!Y. m..... .a of G ?p ftht.~~ .Ii .aa.w.._.'. leCtiofto4'ttliaA..iQnmenl. lp~ \...,V ~ 01 TM worda "FWIUd .........nll. bin ~. ...Yiron....m_ .._.....ts. lIIl*"'u.... secUl'1ty . dHda of dHdl. cou..nt monpgM. ana: ,II om. 1Mtrumenta. agrNmIIIIIQ; ana docu now or tMofH'h1f exldina, . Ion with thllncI.m.cs...... ..... Tlw WOld -I\antt;" maen. '. pr..ent and future rightl, dde . In, to end IM1der My .nd .. pruent Md futuN ....... incUcllng. without . r..... . Is . rov bonu a..CClOUM& r~. cuh Of MCUlity dIIpae/tt. .ctvanea ~" profita Property. pavmrtfttl; be ~ 01 till be dIr\v" fro.... such .._ of evky kind lAd n.wre. Ing w Iimit.ion r '. right to enforc:c such I..... and to ~ and coa.ct ,...".,..nt pi THE ""DUIII ACUI All AUTHOIlIZEI 8IQNfIt. HAS -. In ... to .n tt. Property I' cIeact't>>cI in the . AND NOT PEM~.., I Y MIl AI OF GRANTOR ON .ItINIi 21. ........"'" ~ ......- M'>o c:::> c:r. u.o ...., X c;, WITH -: X u.o c:::> "-> -.:II Agenda Item No, 16B3 June 22, 2010 Page 40 of 40 lain No: 180024611 ASSIGNMENT OF RENTS (Continued) "-' UMlTED UABlUTY COMPANY ACKNOWlEDGMENT ITATE Of' l= ll) \L\ 't::>~ I COUIITY OF (til..\ E:: It- : sa The fonIgoing~""" .c;;knowMdglld Mfol'W me Chi. 1.,\.:a..r'" day of -S~ 20..0......1.. by ~ M. .......... of ~ ~ ......... LLC" A RorIdII UnlIIitlI ~ ~. member (ex .ntJ. on blItl.ff crl' ,..,.. ~~ u.c.. A_....... LfP'!d ~ ~. . titnked ~1IbiIity oonlpany. MI or.. .. perllOMtty known 1M or hu producad~~ ~\ ",. ..ldMttfIcetlOn nat taka an G~n:- :1.""'''/1... ~,""..'" 8IWIlYA.~ ..bL. MY.......OII'OOIIll81l ""~ ElCPIIIeS: Ftl1n.y 18, 2007 ..~ -""'............... INarncl of ~l\OwtIdget Typed, ,.rimed 01' St~1 tTitleor R.ntl lSerial NumbM, If.-.yt .. .. .. C> ::a .- <=> en ~ ""l:I G"Jl ~ <=> ~ CO .. ... ..