1st Amendment 05/22/2019 ° Kevin Madok, CPA
:: :: Clerk of the Circuit Court& Comptroller—Monroe County, Florida
~ROE coU�`
DATE: June 7, 2019
TO: Beth Leto,Airports
Business Manager I
FROM: Pamela G. Hancoc ,t'a.C.
SUBJECT: May 22" BOCC Meeting
Enclosed is a duplicate original of Item C13, 1st Amendment to Lease Agreement with
The Hertz Corporation Inc., reducing underused property in the Parcel B leasehold at the Key
West International Airport by 2,925 square feet. The property will be used by the Airport for
construction lay down, parking and safety purposes during construction of the new FBO Access
Road. Rent will be reduced from $111,391.20/year to $101,520.29/year for the Parcel B leasehold
reduction. In addition, for no reduction in rent, Hertz agrees to return 4,876 square feet of
underused property in Parcel A to the County for the Airport's sole use.
Should you have any questions, please feel free to contact me at(305) 292-3550.
cc: County Attorney
Finance
File
KEY WEST MARATHON PLANTATION KEY PK/ROTH BUILDING
500 Whitehead Street 3117 Overseas Highway 88820 Overseas Highway 50 High Point Road
Key West,Florida 33040 Marathon,Florida 33050 Plantation Key,Florida 33070 Plantation Key,Florida 33070
305-294-4641 305-289-6027 305-852-7145 305-852-7145
1st AMENDMENT TO LEASE AGREEMENT
THE HERTZ CORPORATION
KEY WEST INTERNATIONAL AIRPORT
THIS 1st AMENDMENT TO LEASE AGREEMENT is made and entered into on this 22nd
day of May, 2019, by and between MONROE COUNTY, a political subdivision of the State of
Florida, whose address is 1100 Simonton Street, Key West, Florida 33040, hereinafter referred to as
Lessor,and THE HERTZ CORPORATION,a Delaware Corporation authorized to conduct business
in Florida whose address is 8501 Williams Road, Estero, Florida 33928, hereinafter referred to as
Lessee or Tenant.
WHEREAS, on October 17, 2012 the Lessor and Lessee entered into a Lease Agreement
(hereinafter"Original Agreement") at the Key West International Airport, located in Key West,
Monroe County, Florida, hereinafter referred to as "AIRPORT," and
WHEREAS, under the terms of the Original Agreement the Lessor was required to make
certain service facility capital improvements to the premises within 24 months of executing the
Original Agreement, and
WHEREAS, Lessor has not made said improvements to the premises, and
WHEREAS, Lessee has experienced tremendous passenger growth and is in need of the under
used areas of the Lessee's leasehold, and
WHEREAS, Lessee has no objection to returning the under used areas to the Lessor,
NOW,THEREFORE,in consideration of the premises and of mutual covenants and promises
hereinafter contained,the parties hereto do hereby agree as follows:
SECTION 1. Article 2, Premises., of the Original Agreement is amended to read as
follows:
2. Premises. Lessor hereby leases to Lessee the Airport area shown on Exhibit A,hereafter the
premises,for use as a rental car preparation activities area,hereafter referred to as the operation.Exhibit
A is attached to this agreement and incorporated by reference. Parcel "A" contains a total of 18,800
square feet. Parcel "B" contains a total of 11,289 feet. The parcels are as depicted on the attached
drawing, Exhibit A identified as BOCC May 22, 2019.
SECTION 2. Article 4, Subsection (a), Rental, Gross Revenue, Capital Improvements,
Late fees is mended to read as follows:
a. Effective June 1, 2019, Lessee agrees to pay an annual rent of$101,520.29 plus tax. Rent
plus sales tax shall be paid in equal monthly installments, all of which shall be due and payable on or
before the first day of each calendar month during which this lease is in effect.
Rental rates are subject to revision after the first 12 months and annually thereafter in
accordance with the percentage change in the Consumer Price Index for all urban consumers (CPI-U)
for the most recent 12 months available. In the event of a deflationary CPI, no adjustment in the rental
rates will be made.
SECTION 3. All other provisions of the October 17, 2012 Original Lease Agreement not
inconsistent herewith, shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this lease amendment to be executed this
ck;Utz:, .%f May, 2019.
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jLip,.....,:-, BOARD OF COUNTY COMMISSIONERS
,. ?Ea fi " VIN MADOK, CLERK OF MONROE COUNTY, FLORIDA
By ..�....�,� By . '.
Deputy Clerk Malor Sy via Murphy
THE HERTZ CORPORATION:
" ,G ,/
Witness /
c e ,�C>0c.b � y d 6/
Witness Stephen A. Blum
Title Senior Vice President, Real Estate & Facilities
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ON COU''►� •RNEY
PROVOE �TA����'��'
PEDR.J.MERCADO
ASSIST .►
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2
EYW — Hertz Service Facility
EXHIBIT A ~ iit -1 .... PI v
,,,,,, ,,,„ ,
., „,,, . .
Hertz Corporation Jam ,, gr
30,089 Square Feet � .�rdllo Parcel B Parcel A l �`
Lease Amendment #1 , " 11,289 sq. ft. 18,800 sq. ft.
BOCC May 22, 2019 ""•.„ ';
• ii
t 1• „.� f', 33 � s 1 ry .may i
2,925 sq.foot area !�'<,( j_
outlined in red is removed ,� _ ! '
—"mirk
' from the original leaseti ; <�
+ 4'i: am r`
•
agaitaifteseal
PP ''''s....- 4, k ;
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Reserved for
f ... , ; �,. illN County use
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-•,4-,-4 • • •f-7'i2litti ,0,, i Ili* ii, ,
• � ith
, 4,200 sq.ft.
T
Parking area includ
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,, in Parcel A
'Y.
Key West International Airport
rvr, 4/13/2019