1st Amendment 02/20/2008-Ground Lease
DANNY L. KOLHAGE
CLERK OF THE CIRCUIT COURT
DATE:
March 25, 2008
TO:
Reggie Paros, Director
Housing & Community Development
FROM:
Stacy DeVane
Executive Assistant
Pamela G. Han~
Deputy Clerk LY
ATTN:
At the February 20, 2008, Board of County Commissioner's meeting the Board granted
approval and authorized execution of the following:
First Amendment to Ground Lease Agreement between Monroe County and Sea Grape
Apartments, L TO, to extend the deadline to commence construction of project. Enclosed is a
certified copy of the First Amendmentfor your handling.
Deed of Conservation Easement in favor of the South Florida Water Management District
for Sea Grape Apartments, LTD. Enclosed is a duplicate origina/for your handling.
At the March 19,2008, meeting the Board granted approval and authorized execution of a
Second Amendment to Ground Lease Agreement between Monroe County and Sea Grape
Apartments, LTD. Enclosed is a duplicate origina/for your handling.
Should you have any questions please do not hesitate to contact our office.
cc: County Attorney
Finance
File/
FIRST AMENDMENT TO GROUND LEiASE AGREEMENT
(Sea Grape Apartments Phase t)
THIS FIRST AMENDMENT (hereinafter "Amendment") to the Ground Lease
Agreement (hereinafter "Lease" is made and entered into in Key West, Monroe County,
Florida, on this te.14. day of , 2008~ by and between MONROE
COUNTY (hereinafter "Lessor") and GRAPE APARTMENTS, LTD., a Florida
limited partnership (hereinafter "Lessee").
RECITALS
WHEREAS, the parties entered into the Lease dated September 28, 2007 and
recorded in Official Records Book 2323 at Page 795; and
WHEREAS, the purpose of the lease is to allow Less~e to construct and manage 56
units of affordable rental housing known as Sea Grape Apal:tments Phase I; and
WHEREAS, Lessee has not received the development approvals necessary to
commence construction by the deadline established in theiLease and Lessee requests an
extension of said deadline;
NOW THEREFORE, in consideration of the mutl\al covenants and obligations
contained herein, the receipt and sufficiency of which are heteby acknowledged, the parties
agree as follows:
1. Section 14.01 (a) of the Lease is deleted and replaced with the following:
(a) Initial Lessee shall commence construction of the Project by May 30, 2008,
and shall substantially complete construction of all ffty six (56) Affordable Housing
Units within eighteen (18) months thereafter. The fPregoing limitation oftime for
the completion of the Project may be extended by Written agreement between the
parties hereto.
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2. The remaining terms of the Lease, not inconsistent herewith, shall remain in full force
and effect.
IN WITNESS WHEREOF, the Lessor and the Lessee have hereunto set their hands
Qf the day and year above written.
v'
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:1. KOLHAGE, CLERK
:: ,/
By:
eputy Clerk
~
~
Monroe County Attorney
Approved as to Form
~~:a~ -M~~; 3/i5~
Signed, Sealed and Delivered
~~~witnesses:
Printed Name~+~.;r:r-=-..14
Printed Name
(as to Lessee)
STATE OF FLORIDA
COUNTY OF MIAMI-DADE !
The foregoing inSlnlment was acknowledged before me tbis ~ day Of./~ ,2008, by
Lloyd J. Boggio, as President of and for TCG Sea Grape, LLC, a Florida limite" liability company, the general partner of
Sea Grape Apartments, Ltd" a Florida limited partnership, on behalf of both entities, who is uPersonalIy known to me,
or who [ ] has produced a drivers license as idbntification.
~ ...................:
............e..NE..CA'$AR SANCHEZ :
: tMRl: ~mII 000689789 :
Notary Public i. ~'fI>.". CevI\I18S 10/1912011 i.
Print Name: III: 'T'
: ~.. P.I.:.. '..,.......ry PMf'., \nc :
:. '>J;;tOF~' f~~=................
My Commission expires: ;.......1:.:............
Seal
Page 2 0[2
JOINDER OF MORTGAGEE
The undersigned, Wachovia Bank, National Association, as Mortgagee (the
"Mortgagee") under that certain Leasehold Mortgage given by Sea Grape Apartments,
Ltd., a limited partnership, in favor of Mortgagee, dated Seplember 26,2007 and recorded
in Official Records Book 2323 at Page 852 of the Public Records of Monroe County,
Florida, covering all/or a portion of the premises which are described in the foregoing First
Amendment To Ground Lease Agreement, does heretly consent to the terms and
conditions contained therein.
" 1 IN WITNESS WHEREOF these presents have been exe
~~ ,2007.'\
~IT SES: , A /?/' .., ':GHOVIA B~NK, National _
_~~ By: ^~'",f .~/
rintName: p""".,.. € VL/)t:l3dq' \ I
Nama;L -r ""f<--c\.e..- :<-.1<-- ~ -s ltl
.tVJ Y)~.... Title:fla.iA.&<.~;"'~ ~r~J..,(L
PnntName: _-e...l De.....+o"
STATE OF ~~,....--')
COUNTY OF~''V1
'1" -f:J.. _ ft: BEiF~E j4E, the undersigned uthority, this day appeared
/~~.lJ4...known by me to be the . ().re""~f Wachovia
Bank, National Association and she/he acknowledged t d before me that she/he
executed the said instrument, acting in her/his said official! capacity, for and as to the act
and deed of said association and in its name, for the uses ~~dyurposes therein mentioned,
and after being duly authorized and directed. She/he is: H1>ersonally known to me, or []
produced as identification.
I~ WITNE~.S my hand and official Seal in the County ~nd State aforesaid, on this, the
day of ~~ ,2008.
--&-~ ~ .~~
Notary Public VtU_-".'.L .. C _ A
My Commission Expires: ~ "'- ~c.:--