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r <br /> LEASE AGREEMENT <br /> THIS LEASE AGREEMENT ("Lease") dated as of November 19, 2002, <br /> ("Effective Date") between the BOARD OF COUNTY COMMISSIONERS OF INDIAN <br /> RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida (hereinafter <br /> called the "Landlord") and Gifford Youth Activity Center, Inc., a Florida not for profit <br /> corporation (hereinafter called the "Tenant"). <br /> BACKGROUND RECITALS <br /> A. Indian River County is authorized pursuant to Section 125.38, Florida Statutes, <br /> to lease real property owned by Indian River County to not for profit <br /> organizations organized for the purposes of promoting community interest and <br /> welfare. <br /> B. On January 6, 1998, the Indian River County Board of County Commissioners as <br /> landlord entered into a lease agreement with Progressive Civic League of <br /> Gifford, Florida, Inc. as tenant for the Gifford Youth Activities Center (hereinafter <br /> the "Progressive Lease"). <br /> C. The Progressive Lease had a twenty-year term ending January 6, 2012. <br /> D. Thereafter, an entity known as the Gifford Youth Activity Center, Inc. was <br /> incorporated as a Florida not for profit corporation on December 27, 2001 and <br /> organized exclusively for religious, charitable, scientific, literary, and educational <br /> purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code <br /> of 1986. <br /> E. The Progressive Civic League of Florida, Inc. and the Gifford Youth Activity <br /> Center, Inc. have agreed that the purposes of the Gifford Youth Activity Center <br /> would now be best served by being under the auspices of the Gifford Youth <br /> Activity Center, Inc. <br /> F. On April 9, 2002, the Indian River County Board of County Commissioners <br /> considered a request made by the Gifford Youth Activity Center, Inc. to become <br /> the tenant of the Gifford Youth Activity Center either by the assignment of the <br /> Progressive Lease or pursuant to a new lease. <br /> G. The Indian River County Board of County Commissioners directed that: (i) a new <br /> lease, having the Gifford Youth Activity Center, Inc. as tenant, be prepared for <br /> the Gifford Youth Activity Center; and (ii) the Progressive Lease be terminated <br /> as of the effective date of the new lease. <br /> H. Landlord desires to lease the Leased Premises (as such term is hereinafter <br /> defined) to Tenant on the terms and conditions set forth herein and Tenant <br /> desires to lease the Leased Premises from Landlord on the terms and conditions <br /> set forth herein. <br /> 1 <br />