3rd Amendment 08/17/2016 : . AMY HEAVILIN, CPA
' %' CLERK OF CIRCUIT COURT & COMPTROLLER
� . i MONROE COUNTY,FLORIDA
DATE: October 13, 2016
TO: Don DeGraw,
Director of Airports
ATTN: Beth Leto,
Airport Business Manager O
FROM: Cheryl Robertson Executive Aide to the Clerk of Court & Comptroller C
At the August 17, 2016, Board of County Commissioner's meeting the Board granted approval and
authorized execution of Item C7 Approval of Amendment to Lease between the Key West International
Airport and Last Chance Gifts, LLC extending the term of the original lease for an additional five (5)
years commencing October 1, 2016 and expiring September 30, 2021 and approval to waive prior year
credits and arrearages.
Enclosed is a duplicate originals executed on behalf of Monroe County,for your handling. Should you
have any questions,please feel free to contact me.
cc: County Attorney
Finance
File ✓
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
AMENDENT TO LEASE AGREEMENT
Last Chance Gifts, LLC.
THIS AMENDMENT (hereafter Amendment) is made and entered into this 17th day of
August,2016 by and between Monroe County, a political subdivision of the State of Florida, whose
address is Gato Building, 1100 Simonton Street, Key West, FL 33040 (hereinafter "County",
"Lessor" or "Owner"), and Last Chance Gifts, LLC., a Florida limited liability company, whose
address is 74 Bay Drive, Key West, Fl. 33040 (hereinafter "Tenant" or"Lessee").
WHEREAS, on the 10'h day of November 1993, the County entered in to a lease
(hereinafter Original Lease) with the Lessee's predecessor in interest; and
WHEREAS, on the 19`h day of April, 2000, the County entered in to a Lease Extension
Agreement with the Lessee's predecessor in interest extending the term of the original lease for an
additional 16 years; and
WHEREAS, on the 17th day of October 2007, Lessee's predecessor in interest transferred
all rights, title, interest and obligations to the leasehold by means of a Consent To Assignment Of
Lease to Lessee; and
-------- ------WHEREAS, on the 19'h day of August 2009 the parties entered into an amendment granting
the Lessee an additional retail leasehold space following the renovation and expansion of the Key
West International Airport; and
WHEREAS, Lessee has requested that the lease be renewed and Lessor has no objection to
the request; and
WHEREAS, the parties have found the Agreement to be mutually beneficial; now,
therefore,
IN CONSIDERATION of the premises and of the mutual covenants and agreements herein
contained, and other valuable considerations, the parties agree as follows:
SECTION 1. ARTICLE II—TERM of the original agreement is amended to read as follows:
This lease and all rights herein granted Lessee shall become operative and effective
on October 1, 1993. All rights herein granted for the use and operation of both gift
shop leaseholds shown in exhibits D-1 and D-2 shall terminate on September 30,
2021 unless sooner terminated as hereinafter provided.
SECTION 2. Article III — RENTALS AND FEES, subparagraph A l of the original agreement is
amended to read as follows:
1. Beginning October 1, 2016;
Rent for 670 square feet in room 220 at the check-in/ticketing area, as shown in
exhibit D-1, to be used as a gift shop shall be $35,054.40 per annum plus tax,
including electricity.
Rent for 390 square feet in room 123 in the passenger departure gate area, as
shown in exhibit D-2, to be used as a gift shop shall be $20,404.80 per annum plus
tax, including electricity.
Rental rates are subject to revision each year in accordance with the percentage
change in the Consumer Price Index for all urban consumers (CPI-U) for the
previous calendar year. In the event of a deflationary CPI, no adjustment in the rental
rates will be made.
SECTION 3. Article III — RENTALS AND FEES, subparagraph A2 of the original agreement is
amended to read as follows:
--- 2. The Lessee agrees to pay:
i. 10% of the annual gross revenues (gross revenue payment) generated by
Lessee's gift shop operations in room 220 at the check-in/ticketing area, as shown in
exhibit D-I,and
ii. 10% of the annual gross revenues (gross revenue payment) generated by
Lessee's gift shop operations in room 123 in the passenger departure gate area, as
shown in exhibit D-2
OR
iii. an annual guaranteed minimum of $50,000 (guaranteed minimum
payment), whichever is greater, for Lessee's combined operations.
- - - ---- Annual gross revenues are determined on a calendar year basis. A calendar
year shall run from January 1"through December 31" inclusive. Payment of charges
under this subparagraph shall be made in monthly installments. If payments are made
in monthly installments, Lessee shall remit, at a minimum 1/12 of the guaranteed
minimum payment ($4,166.67) for Lessee's combined operations.
Payment shall be made no later than the 5'h day of the month payment is due, i.e.
January payment by February 5, February by March 5, etc. In the event the total
2
amount paid by Lessee during any calendar year period under this method is less
than the $50,000 annual guaranteed minimum or 10% of the calendar year's annual
gross revenues from both operations, Lessee shall remit the difference by February
28 of the year subsequent to the calendar year for which the charge is due.
SECTION 4. All other provisions of the November 10, 1993 original Lease, April 19, 2000 Lease
Extension Agreement, October 17, 2007 Consent to Assignment of Lease and August 19, 2009
Amendment not inconsistent herewith, shall remain in full force and effect.
IN WITNESS WHEREOF each party hereto has caused this agreement to be executed in
duplicate by its duly authorized representative.
7'5w ' BOARD OF COUNTY COMMISSIONERS
-.—1 'th.EAVILIN, CLERK OF MONROE C UNTY, FLORIDA
i �
I _ �/7i ' •a r. "UY1 By
--'': 1 ��% Clerk yor/ irperson
/0-/3 0/co
(CORPORATE SEAL)
ATTEST: LAST CHANCE GIFTS, LLC., a
Florida Limited Liability Company
By aon /C, ZC'`-�-"J!J By , V.KJ Ott")
Witness ` Gina Borrego, Ma agi g Member
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