12/15/2014 to 12/14/2022 3rd Amendment �yt C0URT!`,1
�o'', Kevin Madok, CPA
• .�• '... ' Clerk of the Circuit Court& Comptroller—Monroe County, Florida
DATE: January 27, 2020
TO: Alice Steryou
Contract Monitor
FROM: Pamela G. Hanc•.. �►.C.
SUBJECT: January 22' BOCC Meeting
Attached is an electronic copy of the following item for your handling:
C25 3rd Amendment to Business Lease for the requested annual CPI-U increase of
1.9% for the upcoming year with Ships Way, Inc., for District 2 Commissioner's office space in
Big Pine Key. Ad Valorem funding.
Should you have any questions, please feel free to contact me at (305) 292-3550.
cc: Facilities Supervisor
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
THIRD AMENDMENT TO BUSINESS LEASE
THIS THIRD AMENDMENT TO BUSINESS LEASE,is made and entered into
this 22th day of January,2020, between SHIPS WAY,INC.,hereinafter called "Lessor"or
"Landlord", party of the first part, and THE COUNTY OF MONROE, hereinafter called
"Lessee"or"Tenant",party of the second part:
WHEREAS, Lessor and Lessee entered into a four (4) year Business Lease (hereafter
"Original Agreement") on the 18th day of March,2015, with a lease term commencing on
December 15,2014,and ending on December 14,2018;and
WHEREAS,on March 15,2017,the Lessor requested and BOCC approved the lease rental
amount to be adjusted annually in accordance with the percentage change in the U.S.
Department of Commerce Consumer Price Index (CPI-U) for all Urban Consumers as
reported by the U.S.Bureau of Labor Statistics for the previous calendar year and the rental
amount was therefore adjusted by.7%commencing December 15, 2016;and
WHEREAS, on November 20, 2018, the Lessor requested and BOCC approved the lease
rental amount to be adjusted annually in accordance with the percentage change in the U.S.
Department of Commerce Consumer Price Index (CPI-U) for all Urban Consumers as
reported by the U.S. Bureau of Labor Statistics for the previous calendar year and the rental
amount was therefore adjusted by 2.1%commencing December 15,2017;and
WHEREAS, the Original Agreement provided for an option to renew the lease for a period
of four(4)years after the expiration of its original term,which terminated on December 14,
2018;and
WHEREAS, the parties exercised the option to renew the Lease for an additional four(4)
years on the initial termination date and on November 20,2018, a Second Amendment to
Business Lease was entered into by the parties with a new lease term beginning on
December 15,2018,and ending on December 14,2022;and
WHEREAS, Lessor has requested the lease amount be adjusted annually in accordance
with the percentage change in the U.S. Department of Commerce Consumer Price Index
(CPI-U)for all Urban Consumers as reported by the U.S. Bureau of Labor Statistics for the
previous calendar year; and
WHEREAS,the CPI-U adjustment on December 31, 2018,was 1.9%;and
WHEREAS,the parties have found the Lease to be mutually beneficial;
1
NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements
stated herein, and for other good and valuable consideration, the sufficiency of which is
hereby acknowledged,the parties agree as follows:
1. The first unnumbered paragraph after the Witnesseth Clause of the Original
Agreement is hereby amended to read:
An office comprised of 813.5 square feet, located in the building known as "The
Shops of Ships Way",25 Ships Way, Big Pine Key, situated in Monroe County, Florida,to
be used and occupied by the Lessee as an office and for no other purposes or uses
whatsoever, for the term of four (4) Years, beginning December 15, 2018, and ending
December 14, 2022, the rent to be paid as follows: Commencing on December 15, 2019,
$1,297.25 is to be applied to the first month's rent, including a pro-rated amount for any
part month; and $1,297.25 on the first day of each month thereafter. Annually, on the
anniversary of this Lease, there may be an increase not to exceed three percent(3%), in the
monthly rent payment. The lease amount may be adjusted annually in accordance with the
percentage change in the U.S. Department of Commerce Consumer Price Index (CPI-U)
for all Urban Consumers as reported by the U.S.Bureau of Labor Statistics for the previous
calendar year.
2. In all other respects the terms and conditions of the Lease,as amended,shall remain
in full force and effect.
IN WITNESS WHEREOF,the parties hereto have set their hands and seals the day
and year first above written.
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