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2011-265
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Last modified
2/19/2016 10:36:12 AM
Creation date
10/1/2015 3:45:23 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Second Amendment
Approved Date
12/20/2011
Control Number
2011-265
Agenda Item Number
4.A
Entity Name
Minor League Baseball VeroTown, LLC
Subject
Facility Lease Agreement second amendment
Supplemental fields
SmeadsoftID
10752
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2 . Definitions . Except as set forth herein , all capitalized terms herein shall have the <br /> same meaning as set forth in the Facility Lease Agreement and the First Amendment . <br /> 3 . Assignment . MiLB hereby assigns to Verotown all of its right , title and interest <br /> in and to the Amended Facility Lease Agreement, and Verotown hereby accepts such <br /> assignment . All references in the Facility Lease Agreement and the First Amendment to <br /> "MiLB " are hereby changed to "Verotown . " Verotown assumes and agrees to pay and perform <br /> all obligations of MiLB under the Amended Facility Lease Agreement . County hereby consents <br /> to the assignment of the Amended Facility Lease Agreement to Verotown . <br /> 4 . Guaranty/Surety Bond . NAPBL, by Guaranty dated May 1 , 2009 (" Guaranty") , <br /> has guaranteed certain obligations of MiLB under the Facility Lease Agreement and the First <br /> Amendment . NAPBL hereby (i ) consents to the assignment of the Amended Facility Lease <br /> Agreement to Verotown, (ii) consents to the amendments set forth in this Second Amendment, <br /> and (iii ) agrees that the Guaranty shall remain in full force and effect and shall apply <br /> to the <br /> obligations of Verotown under the Amended Facility Lease Agreement to the same extent as if <br /> all references to MiLB in the Guaranty were changed to Verotown . County agrees to release and <br /> terminate the Guaranty upon (i) substitution of a new guarantor and guaranty reasonably <br /> acceptable to County , or (ii) posting of a surety performance bond conditioned on Verotown ' s <br /> performance of the Amended Facility Lease Agreement, which bond is in the amount of the <br /> Liquidated Damages plus $ 100 , 000 , and is in a form reasonably acceptable to County . <br /> 5 . Completion Dates of Improvements . Sections 1 . 02 (0) , 8 . 03 (a) , and 8 . 03 (b) of <br /> the Facility Lease Agreement and First Amendment, are hereby amended by changing the <br /> completion date of the cloverleaf baseball fields to May 31 , 2012 , and by changing the <br /> completion date of the regulation size soccer field to 2012 . <br /> 6 . Good Standing — No Violation . County , MiLB , Verotown and NAPBL agree <br /> that, as of the date hereof, the Amended Facility Lease Agreement is in good standing , neither <br /> County nor MiLB are in violation or default of any provision of the Amended Facility Lease <br /> Agreement, and County and MiLB are in full compliance with all provisions thereof. County <br /> and MiLB hereby release and satisfy each other with respect to any claims , causes of action or <br /> liabilities arising out of or relating to the Amended Facility Lease Agreement. <br /> 7. Conforming Terms . All remaining terms and conditions of the Amended <br /> Agreement are hereby conformed to be consistent with the amendments set forth herein . <br /> 8 . Remaining Terms . All remaining terms and conditions of the Amended <br /> Agreement not amended or conformed herein shall remain in full force and effect . <br /> 9 . Recordation . A copy of this Second Amendment shall be recorded on the Public <br /> Records of Indian River County, Florida. <br /> C'.\I/scrs\EnnMAppDam\Local\Microsoft\Wiudoars\Tcitiporxn Intcntct Filcs\Conlcot-Oullonk\7O1FV9782nd Amend - Facility Lease Agnnt 3_docs page 2 <br /> of' 5 <br />
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