1st Amendment 01/20/2010
PREPARED BY AND RETlJRN TO:
SUSAN GRIMSLEY
OFFICE OF THE COUNTY ATTORNEY
1111 12TH ST. SUITE 408
KEY WEST, FL 33040
FIRST AMENDMENT TO GROUND LEASE DATED FEBRUARY 20, 2008
BETWEEN MONROE COUNTY
AND
BLUE WATER WORKFORCE HOUSING LLC
.Ji
This First Alrnendment to Ground Lease (Amendment) is made and entered into on thisB/J aay
of ~tltAl^1 , 2010 by and between Monroe County, a political subdivision of the
State of Florida '(Lessor) and Blue Water Workforce Housing, LLC, a Wisconsin limited liability
company, authorized to do business in the State of Florida (Lessee).
WITNESSETH:
WHEREAS, the parties entered into a ground lease recorded at OR Book 2353, page 527 for
property located at the comer of Burton Drive and US 1, Key Largo, RE# 00488730-000000,
legally described as Tract C, Blue Water Trailer Village Section 1, according to the Plat thereof,
as recorded in Plat Book 5, Page 104 of the Public Records of Monroe County, Florida; and
WHEREAS, an extension of time is required in order for the Lessee to obtain fmancing; and
WHEREAS, the parties have determined that it is in the best interests of both to clarify certain
terms and modify other terms of the lease;
NOW, THEREFORE, the parties agree as follows:
1. Section 3.01 shall read as follows:
Section 3.01 Term. To have and to hold the Demised Premises for a term of Ninety-
nine(99) ye:ars commencing on the Commencement Date, and ending Ninety-nine (99) years
thereafter, both dates inclusive, unless sooner terminated, or extended, as hereinafter provided
(the "Termination Date"). Lessee shall be given possession on the Effective Date and the terms
and conditions set forth herein shall be binding on the parties as of the Effective Date. Lessee
shall have the right to occupy the Demised Premises as of the Effective Date in order to allow
Lessee to commence construction, as well as other activities related to the development and
construction of the Project. As herein set forth, the Term will not commence until the first
Affordable Housing Unit is completed and a certificate of occupancy has been issued for that
Affordable Housing Unit, said date to be evidenced by the Commencement Date Agreement that
the parties ~.vill upon completion of construction of the first Affordable Housing Unit execute in
substantially the same form as that set forth in Exhibit C hereto.
Notwithstanding the above, in the event that the Lessee does not obtain the LIHTC tax credits
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allocation by May 1, 2010, or fails to close on the syndication of the tax credits by May 1, 2011,
the parties agree to enter into a termination agreement terminating this Lease, and Lessee hereby
appoints the County Administrator of the Lessor as its attorney-in-fact solely for the purpose of
entering into and recording such termination agreement.
2. Section 6.01 shall read as follows:
Section 6.01 Lessee's Obligations. As additional Rent, and from the date of this First
Amendment to the Commencement Date, the Lessee shall pay and discharge, as they become
due, promptly and before delinquency, all taxes, assessments, water and sewer rents, rates and
charges, transit taxes, charges for public utilities, excises, levies, licenses and permit fees and
other goveoll11ental charges, general and special, ordinary and extraordinary, unforeseen and
foreseen, of any kind and nature whatsoever, which at any time during the Term of this Lease
may be assessed, levied, confirmed, imposed upon, or grow or become due and payable out of or
in respect 01~ or become a lien on, the Demised Premises, or otherwise arise out of the revenues
received by the Lessee from the sale or rental of the Affordable Housing Units to Sublessees, or
be associated with any document (to which the Lessee is a party) creating or transferring an
interest or estate in the Demised Premises. With regard to SPecial assessments, if the right is
given to pay either in one sum or in installments, Lessee may elect either mode of payment and
Lessee's election shall be binding on Lessor.
3. Except as expressly modified by this Amendment, all terms and conditions of the Lease
remain in fuB force and effect, binding upon the parties.
IN WITNESS WHEREOF, the undersigned executed this First Amendment to Ground Lease
this of , 2010.
Clerk
..~~..~
Deputy Clerk
State of Florida
County of Monroe
On the g../t.b day of '-fY}~ , 2010, before me, a notary public in and for the state of
Florida, duly commissioned and sworn, personally appeared S-,Iv/f/ ::r. /fJ~ rpla~ , as Mayor of
Monroe County, to be ]2ersonally known. In testimony where~f, I have hereunt6 subscribed my
name and affixed ~"_18f office the day and year last above written.
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LESSEE:
BLUE WATER WORKFORCE HOUSING, LLC
GORMAN & COMPANY, INC., Managing Membe
By:
PnntedNanle ZQ(..L, ~~$O~
STATE OF WISCONSIN)
COUNTY OF DANE ) ss
The foregoing instrument was acknowledged before me this -'L day o~
2010, by Gary J. Gorman, as President of Gorman & Company, Inc., Managing Member of · ... ue
Water Workforce Housing, LLC, a Wisconsin limited liability company, who is [,Xl personally
known to Ine, or who [ ] has produced a drivers license as
identification.
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