4th Amendment 10/17/2012DANNY L. KOLHA GE
CLERK OF THE CIRCUIT COURT
DATE: November 5, 2012
TO. Christine Hurley, Director
Growth Management Division
ATTN.• Mayra Tezanos
Executive Assistant 1.
FROM. Isabel C. DeSantis, D. C.
At the October 17, 2012 Board of County Commissioner's meeting, th� Board
approved the following:
Item H4 Fourth Amendment to the Ground Lease Agreement between Monroe Cou ty and
Islander Village, LLC extending the completion date of all units from June 14, 2013 to De ember
7, 2015 to be consistent with the extension of its Major Conditional Use Permit.
Item H8 Affordable Housing Deed Restriction recorded in the Monroe County Pub]
Records on July 27, 2005 at OR Book 2136 at Page 1651 and authorization for the mayor
execute the Release of Deed Restriction for Affordable Housing.
Enclosed are originals of the above -mentioned for your handling. Should you
have any questions, please feel free to contact our office.
cc: County Attorney
Finance
File ,/
Prepared by and return to:
Erica N. Hughes -Sterling, Esq.
Spottswood, Spottswood & Spottswood
500 Fleming Street
Key West, Florida 33040
(305) 294-9556, extension 223
FOURTH AMENDMENT TO GROUND LEASE AGREEMENT
THIS FOURTH AMENDMENT TO GROUND LEASE AGREEMENT, dated this
day of 012, 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 18a' day of April 2007 (hereinafter "Agreement"), 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 18d' 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 9t' day of October, 2009, said Second
Amendment being recorded in Monroe County Public Records at OR Book 2437, Page 1747; and
WHEREAS, the parties entered into a Third Amendment to Ground Lease Agreement on
June 15, 2011 recorded at OR Book 2524, Page 2472 to further extend the time for the completion
of the construction of the Affordable Housing Units until June 14, 2013; and
WHEREAS, a time extension of two years for the Major Conditional Use Permit was
granted in accordance with Chapter 2009-96 Laws of Florida (SB 3 60)until December 7, 2012; and
WHEREAS, a time extension was granted by the Planning Commission in Resolution No.
P27-12 extending the expiration of the Conditional Use Permit originally issued by Resolution P35-
05 until December 7, 2013; and
WHEREAS, by letter of September 17, 2012 from Planning Director Townsley Schwab,
the Major Conditional Use Permit was extended pursuant to Chapter 2012-114 Laws of Florida (HB
503) until December 7, 2015 to obtain all required certificates of occupancy; and
WHEREAS, the parties desire that the Lease and the Conditional Use Permit have the same
time periods and expiration dates; and
WHEREAS, the Lessee has received certificates of occupancy for 43 of the 89 units required
to be built under the Lease;
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 provide that Certificates of
Occupancy will be obtained by December 7, 2015 for all units required to be built pursuant to the
Lease.
3. The Lease is currently in full force and effect, and 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.
IN WITNESS WHEREOF, the un ersigned executed this Fourth Amendment to Ground
Lease Agreement this/��ay of Dc , 2012.
71**iQ ";F
MONROE COUNTY BOARD OF
COUNTY COMMISSIONERS
By zwe --- All
Mayor David Rice
(SEAL)
ATTEST: DANNY L. KOLHAGE, CLERK
By, az�e
Deputy Clerk
STATE OF FLORIDA
COUNTY OF MONROE
BE IT KNOWN, That on the 5 - day of �wtwo thousand and twelve, before me, a
Notary Public in and for the State of Florida, County of Monroe, duly commissioned and sworn, personally
came and appeared d 1, , 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.
1
[Seal] �,�"+"'ly �� Pµ*3Aa H#4= NOTARY PUBLIC
' W CA 41ISSION # EE 144130
o EXPIRES: February 7, 2016
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LESSEE:
ISLANDER VILLAGE, LLC, a Florida limited
liability company
By:
Edwin O. Swift, III, Manager
STATE OF FLORIDA
COUNTY OF MONROE
WITNESSES AS TO LESSEE:
Signed, sealed and delivered
to
Witness as to Lessee
BE IT KNOWN, That on the 8 day of ac� , two thousand and twelve, 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 known 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]
='�• ;"
S C GRZYBO WSKI
Notary Public - State of Florida
My Comm. Expires Aug 11, 2016
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Commission # EE 2184 33
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N04'ARYIPUBLICY