3rd Amendment 06/15/2011DANNY L. KOLHA GE
CLERK OF THE CIRCUIT COURT
DATE: June 30, 2011
TO: Christine Hurley, Director,
Growth Management Division
FROM: Isabel C. DeSantis, D. C.
At the June 15, 2011, Board of County Commissioner's meeting, the Board approved the
following:
Item I6 Amendment 3 to the Ground Lease Agreement between Monroe County
and Islander Village, LLC to allow an additional twenty -four (24) months from the date of
execution of this amendment until June 14, 2013, to substantially complete the affordable
housing units.
Attached is a duplicate original for your handling. Should you have any questions, please
do not hesitate to contact our office.
cc: County Attorney
Finance Director
File
PREPARED BY AND RETURN TO:
ERICA N. HUGHES- STERLING, ESQ.
SPOTTSWOOD, SPOTTSWOOD AND SPOTTSWOOD
500 FLEMING STREET
KEY WEST, FL 33040
THIRD AMENDMENT TO GROUND LEASE AGREEMENT
THIS THIRD AMENDMENT TO GROUND LEASE AGREEMENT, dated this
day of J U,nQ, , 2011, by and between MONROE COUNTY, a political subdivision of the State
of Florida (hereinafter referred to as "Lessor"), and ISLANDER VILLAGE, LLC, a Florida limited
liability company (hereinafter referred to as "Lessee "):
WITNESSETH:
WHEREAS, Lessor and Lessee entered into that certain 99 -year Ground Lease Agreement
dated the 18' day of April 2007, for the property more particularly described therein (hereinafter
"Property") for the construction and development of eighty -nine (89) affordable housing units (the
"Affordable Housing Units "), said Lease being recorded in Monroe County Public Records at OR
Book 2301, Page 365 (hereinafter "Lease "); and
WHEREAS, the parties entered into a Commencement Date Agreement dated the 18 day of
June, 2008, confirming various dates relating to the Lease, recorded in the Monroe County Public
Records at OR Book 2368, at Page 596; and
WHEREAS, the parties entered into a First Amendment to Ground Lease Agreement dated
the 17 day of June, 2009, extending the time for completion of the construction of the Affordable
Housing Units, said First Amendment being recorded in Monroe County Public Records at OR Book
2422, Page 1333; and
WHEREAS, the parties entered into a Second Amendment to Ground Lease Agreement and
Amendment to Commencement Date Agreement dated the 9 th day of October, 2009, said Second
Amendment being recorded in Monroe County Public Records at OR Book 2437, Page 1747; and
WHEREAS, the parties desire to enter into this Third Amendment to Ground Lease
Agreement (hereinafter "Agreement ") to further extend the time for the completion of the
construction of the Affordable Housing Units.
NOW, THEREFORE, in consideration of mutual covenants and obligations contained
herein, and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the undersigned parties agree as follows:
1. The recitals contained herein are true and correct and incorporated herein by
reference.
2. Section 14.01(a) of the Lease is hereby modified to allow an additional twenty -four
(24) months from the date of execution of this Amendment until June 14, 2013, to substantially
complete the Affordable Housing Units.
3. Except as expressly modified by this Amendment, all terms and conditions of the
Lease remain in full force and effect, binding upon the parties.
4. Each party agrees that they have authority to sign this Agreement on behalf of each
party and represents and warrants that such person has the full right and authority to enter into this
Agreement on behalf of such party and to fully bind such party to the terms and obligations of this
Agreement.
5. This Amendment is retroactive to December 16, 2010 and it is the intention of the
parties that the Lease be continuously effective from April 18, 2007.
IN WITNESS WHEREOF, the undersigned executed this Third Amendment to Ground
Lease Agreement this LSEr y of J c, , g.
L. KOLHAGE, CLERK
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ItyClerk co /i-5-///
BE IT KNOWN, That on the 30 - A day of J U-^-Q--- , two thousand and eleven, before me, a
Notary Public in and for the State of Florida, County of Monroe, duly commissioned and sworn, personally
came and appeared Ile a- r Ca /r fhe r S , as Mayor of Monroe County Board of County
Commissioners, to me personally known
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed my seal of office
the day and year last above written.
[Seal] NOTARY YP 9L
PAMELA G.HAN000K
MY COMMISSION # DD 739412 MONROE COU T TTORNEY
'a EXPIRES: February 7, 2012
Rf 1� Bonded Thru Notary Public Underwriters / AP O VEDA 0 FORM
Date: "T ^d i
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COUNTY OF MONROE
LESSEE:
ISLANDER VILLAGE, LLC, a Florida limited
liability company
B y :
Edwin O. Swift, III, Manager
STATE OF FLORIDA
COUNTY OF MONROE
WITNESSES AS TO LESSEE:
Signed ed and del' ered
i s as to Lessee
Witness as to Lessee
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BE IT KNOWN, That on the t _ day of two thousand and eleven, before me, a
Notary Public in and for the State of Florida, County of Monroe, duly commissioned and sworn, dwelling in
the City of Key West, personally came and appeared EDWIN O. SWIFT, III, as Manager of Islander Village,
LLC, a Florida limited liability company, to me personally ]mow or has produced
as identification.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed my seal of office
the day and year last above written.
[Seal] �� f
NOTARY PUBLIC
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