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<br />FIFTH AMENDMENT TO NINETY-NINE YEAR LEASE
<br />[ST. FRANCIS MANOR LEASE]
<br />F
<br />THIS FIFTH AMENDMENT TO NINETY-NINE YEAR LEASE ("Fifth Amendment")
<br />is made and entered into this 7th day of February, 2006, nunc pro tune to October 12,
<br />2004 ("Amendment") by and between INDIAN RIVER COUNTY, a political subdivision of
<br />the State of Florida, by and through its Board of County Commissioners ("County"), and
<br />ST. FRANCIS MANOR OF VERO BEACH, FLORIDA, INC., a Florida non-profit
<br />corporation ("Lessee").
<br />BACKGROUND RECITALS:
<br />A. On August, 8, 1973, the County as Lessor and Lessee entered into a Ninety -Nine
<br />Year Lease covering certain lands described therein, recorded in the public records of
<br />Indian River County, Florida, in O.R. Book 516, Page 305 ("Original Lease"),
<br />B. The Original Lease was amended by Amendment and Modification of Ninety -Nine
<br />Year Lease "dated February 6, 1980" ("First Amendment") The First Amendment is
<br />unrecorded and added certain lands set forth therein to the leasehold estate of the Original
<br />Lease.
<br />C. A Second Amendment and Modification of Ninety -Nine Year Lease was executed
<br />on July 27, 1993, and recorded in the public records of Indian River County, Florida, in
<br />O.R. Book 982, Page 2197 ("Second Amendment"). The Second Amendment allows
<br />Lessee the ability to refinance any mortgage encumbering the leasehold improvements.
<br />D. A Third Amendment and Modification of Ninety -Nine Year Lease was executed on
<br />September 19, 1994 ("Third Amendment"), The Third Amendment is unrecorded and
<br />added certain adjoining and contiguous land to the leasehold estate created by the
<br />Original Lease; subject, however, to such land reverting back to the County if an assisted
<br />living facility was not built on such land within five years of September 19, 1994.
<br />E. A Fourth Amendment and Modification of Ninety -Nine Year Lease was executed on
<br />October 12, 1999, and was recorded in the public records of Indian River County, Florida,
<br />in O.R. Book 1299, Page 1237 ("Fourth Amendment"), The Fourth Amendment extended
<br />the construction period for the assisted living facility for five years from October 12, 1999;
<br />subject, however, to the same reverter as contained in the Third Amendment.
<br />F. By its terms, the Fourth Amendment expired October 11, 2004, and the land added
<br />to the leasehold estate in accordance with the Third Amendment and Fourth Amendment
<br />would be subject to revert to the County on that date.
<br />1726269
<br />THIS DOCUMENT HAS BEEN RECORDED
<br />IN THE PUBLIC RECORDS OF
<br />INDIAN RIVER COUNTY FL
<br />BK: 1993 PG:1337, Pagel of 5
<br />02/10/2006 at 10:19 AM,
<br />1 JEFFREY K BARTON, CLERK OF
<br />COURT
<br />•,
<br />F
<br />THIS FIFTH AMENDMENT TO NINETY-NINE YEAR LEASE ("Fifth Amendment")
<br />is made and entered into this 7th day of February, 2006, nunc pro tune to October 12,
<br />2004 ("Amendment") by and between INDIAN RIVER COUNTY, a political subdivision of
<br />the State of Florida, by and through its Board of County Commissioners ("County"), and
<br />ST. FRANCIS MANOR OF VERO BEACH, FLORIDA, INC., a Florida non-profit
<br />corporation ("Lessee").
<br />BACKGROUND RECITALS:
<br />A. On August, 8, 1973, the County as Lessor and Lessee entered into a Ninety -Nine
<br />Year Lease covering certain lands described therein, recorded in the public records of
<br />Indian River County, Florida, in O.R. Book 516, Page 305 ("Original Lease"),
<br />B. The Original Lease was amended by Amendment and Modification of Ninety -Nine
<br />Year Lease "dated February 6, 1980" ("First Amendment") The First Amendment is
<br />unrecorded and added certain lands set forth therein to the leasehold estate of the Original
<br />Lease.
<br />C. A Second Amendment and Modification of Ninety -Nine Year Lease was executed
<br />on July 27, 1993, and recorded in the public records of Indian River County, Florida, in
<br />O.R. Book 982, Page 2197 ("Second Amendment"). The Second Amendment allows
<br />Lessee the ability to refinance any mortgage encumbering the leasehold improvements.
<br />D. A Third Amendment and Modification of Ninety -Nine Year Lease was executed on
<br />September 19, 1994 ("Third Amendment"), The Third Amendment is unrecorded and
<br />added certain adjoining and contiguous land to the leasehold estate created by the
<br />Original Lease; subject, however, to such land reverting back to the County if an assisted
<br />living facility was not built on such land within five years of September 19, 1994.
<br />E. A Fourth Amendment and Modification of Ninety -Nine Year Lease was executed on
<br />October 12, 1999, and was recorded in the public records of Indian River County, Florida,
<br />in O.R. Book 1299, Page 1237 ("Fourth Amendment"), The Fourth Amendment extended
<br />the construction period for the assisted living facility for five years from October 12, 1999;
<br />subject, however, to the same reverter as contained in the Third Amendment.
<br />F. By its terms, the Fourth Amendment expired October 11, 2004, and the land added
<br />to the leasehold estate in accordance with the Third Amendment and Fourth Amendment
<br />would be subject to revert to the County on that date.
<br />1726269
<br />THIS DOCUMENT HAS BEEN RECORDED
<br />IN THE PUBLIC RECORDS OF
<br />INDIAN RIVER COUNTY FL
<br />BK: 1993 PG:1337, Pagel of 5
<br />02/10/2006 at 10:19 AM,
<br />1 JEFFREY K BARTON, CLERK OF
<br />COURT
<br />
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