5th Amendment 09/16/2015AMY NEAVILIN, CPS
CLERK OF CIRCUIT COURT &COMPTROLLER
MONROE COUNTY, FLORIDA
DATEO October 28, 2015
TO: Mayte Santamaria
Senior Director
ATTN. • Jaclyn Carnag, Paralegal
FROM: Cheryl Robertson Executive Aide to the Clerk of Court & Comptroller Chi
A0&e �,5aN
At the September 16, 2015, Board of County Commissioner's meeting the Board granted approval and
execution of the following Item H33 Fifth Amendment to Ground Lease Agreement between Monroe
County and Islander Village, LLC, to extend the date by which all affordable housing units must be
completed and receive Certificates of Occupancy from December 7, 2015, to December 7, 2016.
Enclosed is a duplicate original of the above -mentioned for your handling. Should you have any
questions, please feel free to contact our office.
cc: County Attorney
Finance
File 7
VN 2 11]('0
500 Whitehead Street Suite 101, PO Box 1980, Key West, FL 33040 Phone: 305-295-3130 Fax: 305-295-3663
3117 Overseas Highway, Marathon, FL 33050 Phone: 305-289-6027 Fax: 305-289-6025
88820 Overseas Highway, Plantation Key, FL 33070 Phone: 852-7145 Fax: 305-852-7146
This Instrument Prepared By:
Peter H. Morris, Assistant County Attorney
Monroe County Attorney's Office, FBN: 104101
2798 Overseas Highway, Marathon, FL 33050 morris-peter@monroecounty-fl.gov
FIFTH AMENDMENT TO LEASE AGREEMENT
THIS FIFTH AMENDMENT TO LEASE AGREEMENT, dated this I& day of
September, 2015, 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 Lease Agreement
(hereinafter "Lease") dated the 18`h 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 (hereinafter "Affordable Housing
Units"), said lease being recorded in Monroe County Public Records at OR Book 2301, Page
365, and attached hereto and incorporated herein as Fifth Amendment to Lease Agreement
Exhibit "A"; and
WHEREAS, Lessor and Lessee entered into that Commencement Date Agreement dated
the 18th 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, Lessor and Lessee entered into a First Amendment to Lease Agreement
dated the 171h day of June, 2009, extending the time for completion of construction of the
Affordable Housing Units an additional eighteen (18) months to December 10, 2010, said First
Amendment being recorded in Monroe County Public Records at OR Book 2422, Page 1333;
and
WHEREAS, Lessor and Lessee entered into a Second Amendment to Lease Agreement
and Amendment to Commencement Date Agreement dated the 9th day of October, 2009,
extending the term of said Lease one-year to extend the initial Lease term expiration date to May
28, 2108, in order to comply with Florida Statute § 196.199(2)(b), and eliminating the annual
$10.00 rent due under the original Lease in order to comply with Florida Statute § 196.199(7),
said Second Amendment being recorded in Monroe County Public Records at OR Book 2437,
Page 1747; and
WHEREAS, Lessor and Lessee entered into a Third Amendment to Lease Agreement on
the 15`h day of June, 2011, extending the time for completion of construction of the Affordable
Housing Units an additional twenty-four (24) months to June 14, 2013, said Third Amendment
being recorded in Monroe County Public Records at OR Book 2524, Page 2472; 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 (S.B. 360), until December 7,
2012; and
WHEREAS, a time extension was granted by the Monroe County Planning Commission,
pursuant to Resolution No. P27-12, extending the expiration of the Conditional Use permit
issued pursuant to Planning Commission Resolution P35-05, until December 7, 2013; and
WHEREAS, by letter of September 17, 2012, from Monroe County Planning &
Environmental Resources Senior Director Townsley Schwab, the Major Conditional Use permit
was extended pursuant to Chapter 2012-114, Laws of Florida (H.B. 503), until December 7,
2015, to obtain all required Certificates of Occupancy; and
WHEREAS, Lessor and Lessee entered into a Fourth Amendment to Lease Agreement
on the 17`h day of October, 2012, said Fourth Amendment being recorded in Monroe County
Public Records at OR Book 2602, Page 44, to further extend the time for completion of the
construction of the Affordable Housing Units and issuance of Certificates of Occupancy thereto
by one-year, or until December 7, 2015;
WHEREAS, Certificates of Occupancy have been obtained for forty-three (43) of the 89
units required to be built under the Lease, as amended; and
WHEREAS, Article XIV, Section 14.01(a) of the Lease provides that the foregoing
limitations of time for completion of the project may be extended by written agreement between
the parties hereto; and
WHEREAS, Lessor and Lessee desire to enter into this Fifth Amendment to Lease
Agreement to further extend the current December 7th, 2015, expiration date by which the project
must receive Certificates of Occupancy for the remaining 46 Affordable Housing Units by one-
year to December 7`h, 2016;
NOW, THEREFORE, in consideration of the 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. The original Lease Agreement between the parties is attached to this Amendment
and made a part of it.
3. Article XIV, Section 14.01(a) of the Lease Agreement, as amended, is hereby
further amended to provide that Certificates of Occupancy shall be obtained by
December 7, 2016, for all Affordable Housing Units required to be built pursuant
to the amended Lease.
4. All of the other terms, covenants, conditions, and provisions of the Lease
Agreement dated April 18, 2007, as previously amended, except those expressly
modified and rendered inconsistent by this Amendment, remain in full force and
effect and binding upon the parties.
5. Each party agrees that they have authority to sign this Amendment on behalf of
2
each party and represents and warrants that such person has the full right and
authority to enter into this Amendment on behalf of such party and to fully bind
such party to the terms and obligations of this Amendment.
6. This Amendment is binding on the successors and assigns of the parties.
IN WITNESS WHEREOF, the undersigned executed this Fifth Amendment to Lease
Agreement this day of September, 2015.
LESSOR:
MONROE COUNTY BOARD OF
COUNTY COMMISSIONERS
By:
Mayor Danny L. Kolhage
Monroe County Attorney
Approved as to Form:
MONROE COUNTY ATTORNEY
APPROVED AS TO FORM
By: .i
Peter H. Morris, Assistant County Attorney PETER MORRIS
ASSISTANT COUNTY ATTORNEY
Date:
LESSEE:
ISLANDER VILLAGE, LLC,
a Florida limited liability company,
WITNESSES AS TO LESSEE:
Signed, sealed and delivered
BID -
Edwin O. Swift, III, Manager Witness as to Lessee
Witne s as -to Lessee
STATE OF FLORIDA
COUNTY OF MONROE
BE IT KNOWN, That on the / 'I day of , two thousand and fifteen, before me,
a Notary Public in and for the State of Florida, County of Monroe, duly commissioned and sworn,
personally came and appeared EDW , III, as Manager of Islander Village, LLC, a Florida
limited liability company, to m personally kno or has produced as
identification.
3
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed my seal of
office the day and year last above written.
[Se
ilevNotary Public Stals of Florida
. Kimberly Ann Rogers
IIAy Cortwnission FF 171751
Expires 10/272018
n
DOCK 1647623 06/12/2007 4:47PM
Filed 3 Recorded in Official Records of
MONROE COUNTY DANNY L. KOLHAGE
DOcb 1647623
Blot 2301 P9N 365
LEASE
BETWEEN
MONROE COUNTY
"LESSOR"
AND
ISLANDER VILLAGE, LLC
"LESSEE"
DATED April 18, 2007
EXHIBIT