My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2013-137
CBCC
>
Official Documents
>
2010's
>
2013
>
2013-137
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/7/2015 10:38:37 AM
Creation date
10/1/2015 5:25:06 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Amendment
Approved Date
07/16/2013
Control Number
2013-137
Agenda Item Number
8.O.
Entity Name
Verotown LLC Vero Sports Village MiLB Vero Beach LLC
Dodgertown
Subject
Third Amendment Facility Lease Agreement
Supplemental fields
SmeadsoftID
12031
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
13
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
five or more years, or any other construction, reconstruction or improvement of "infrastructure" <br /> as that term is defined in §212 . 055 (2)(d)( 1 ), Florida Statutes ("Qualifying Expenses"), and (b) no <br /> more than $ 125 ,000 may be used for capital expenses or Repairs or Replacements (defined in <br /> accordance with section 8 . 02(b) of this Facility Lease Agreement, which shall include equipment <br /> used within the Facility for general maintenance, and shall not include motor vehicles licensed <br /> for use on the public roadways ) which are not Qualifying Expenses . Verotown shall not be <br /> required to make any capital contribution to the Capital Reserve Account. <br /> 7. Liquidated Damazes. All references in the Facility Lease Agreement to <br /> Liquidated Damages are hereby deleted . Without limitation, section 10 . 05 is hereby deleted; <br /> provided, however, that each party shall remain liable for actual damages caused by an event of <br /> Default, as set forth in section 10 . <br /> 8. Right of Termination . New section 10 . 05 is hereby added, as follows : <br /> "Notwithstanding any other provision herein, Verotown shall have the right to terminate the <br /> Facility Lease Agreement for any reason upon 120 days written notice to the County. Verotown <br /> shall fully perform the terms and conditions of the Facility Lease Agreement during the 120 day <br /> notice period. A termination by Verotown pursuant to this section 10. 05 shall not be an event of <br /> Default. " <br /> 9. Motor Vehicle Liability Insurance. The following language is added to the end <br /> of existing section 14 . 05 (a) : In addition, Verotown shall maintain, at its sole cost, commercial <br /> automobile insurance in an amount no less than $ 1 million combined single limits on (a) all <br /> motor vehicles owned by the County but operated by Verotown in connection with its use, <br /> management or operation of the Facility, and (b) all motor vehicles owned or leased by <br /> Verotown and used in connection with its use, management or operation of the Facility. <br /> 10. Proaerty Insurance. Verotown' s obligation to maintain special form (all risk) <br /> property insurance, as set forth in section 14 . 05 (b) is hereby deleted, and replaced with <br /> the <br /> following respective obligations of the parties : (a) the County may elect, at its own cost, to <br /> maintain property and casualty insurance upon the Facility, in such amounts as the County <br /> deems appropriate . In the event of a casualty or force majeure event resulting in the total or <br /> partial destruction of the Facility and the payment of insurance proceeds to the County, the <br /> County shall decide in its sole discretion whether to use such proceeds for the repair or <br /> replacement of the portion of the Facility so destroyed; provided, however, that in the event that <br /> the County decides not to use the insurance proceeds or other funds to repair or replace <br />the <br /> Facility, Verotown shall have the right to terminate this Facility Lease Agreement immediately <br /> (i . e . , without the 120 day notice referenced in section 8 above) if it determines in good faith that <br /> the Facility is no longer suitable for the purposes and operations described in section 5 . <br />01 . <br /> Nothing in this subsection shall be construed as requiring the County to insure any property or <br /> assets owned by Verotown which are located at or used in connection with the Facility . <br /> Verotown shall be solely responsible for insuring its own property or assets. <br /> 11 . Verotown ' s Net Income. Verotown shall use all Net Income (defined below) <br /> derived from its use, management and operation of the Facility to pay for enhancements or <br /> improvements to the Facility that Verotown deems reasonable or necessary in its sole discretion <br /> Page 3 of 6 <br />
The URL can be used to link to this page
Your browser does not support the video tag.