2016-023 - Laserfiche WebLink

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TERMINATION OF LEASE AGREEMENT THIS TERMINATION OF LEASE AGREEMENT ("Termination") is entered into as of the 16 day of February, 2016 by and between Indian River County, a political subdivision of the State of Florida, by and through its Board of County Commissioners, whose address is 1801 27th Street, Vero Beach, Florida, hereinafter referred to as Lessor, and Indian River Sports Complex, Inc., a Florida non-profit corporation, hereinafter referred to as Lessee: RECITALS WHEREAS, on August 20, 2013, Lessor executed a Lease Agreement for a ten-year lease with Lessee for 11.76 acres of land commonly known as the 16th Street Ball Fields, located at the intersection of 16th Street and 17th Avenue in the City of Vero Beach, Florida; and WHEREAS, on December 10, 2013, the Lessor and Lessee entered into the First Amendment and Modification of Lease Agreement in order to include an additional 0.52 acre parcel, which collectively is referred to as the Property; and WHEREAS, under the Lease Agreement and the First Amendment and Modification of Lease Agreement, collectively referred to as the Agreement, Lessee was responsible to perform various improvements to the Property and maintain the Property; and WHEREAS, the Lessee is unable to fulfil its obligations under the Agreement; WHEREAS, the Lessee is scheduled to operate a youth baseball league on the Property through the middle of May; WHEREAS, Lessor and Lessee have agreed that the it would be advantageous to terminate the Agreement, but allow the Lessee to complete the season scheduled to end in the middle of May and have the County assist with some of the maintenance of the Property so that there will be no disruption to the season. NOW THEREFORE, in consideration of the mutual undertakings herein and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree, as follows: 1. Recitals. The above recitals are true and correct and are incorporated herein. 2. Termination of Lease Agreement. The Lease Agreement and the First Amendment and Modification of Lease Agreement for the use of the Property shall terminate on June 1, 2016. 3. Maintenance. Lessor shall mow the grass on the ball fields on the Property two times per week and mow the grass on the common areas on the Property one time per week until the Lease Agreement and the First Amendment and Modification of Lease Agreement are terminated. Page I of