Laserfiche WebLink
direct and indirect tax revenues, private sector payment of substantial maintenance and operation <br />expenses which would otherwise burden local taxpayers, and other such benefits, <br />NOW THEREFORE, in consideration of the mutual undertakings herein and other good <br />and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the <br />parties agree, as follows: <br />1. Recitals. The above recitals are true and correct and are incorporated herein. <br />2. Hotel Room Renovations. In Section 5 of the Fourth Amendment, the County <br />agreed to provide up to $634,000 for renovating 66 of the remaining hotel rooms. Due to a <br />number of unforeseen expenditures, the Parties agree that it is not feasible to conduct the <br />referenced renovations for $634,000 or less. Therefore, Section 5 of the Fourth Amendment is <br />hereby amended to state that the County shall pay $670,245.22 for all of the actual costs <br />associated with renovating 66 of the remaining hotel rooms. Should another unforeseen <br />expenditure arise in the future pertaining to the referenced hotel room renovations, the County <br />reserves the right to increase and/or decease its budget by a total of $50,000 using change orders <br />that have been approved by the Indian River Board of County Commissioners. All of the other <br />terms and conditions of Section 5 of the Fourth Amendment to Facility Lease Agreement remain <br />in full force and effect. <br />3. Good Standing — No Violation. The County and Verotown agree that, as of the <br />date of this Fifth Amendment, the Facility Lease Agreement is in good standing and neither party <br />is in breach or violation of the terms and conditions of the Facility Lease Agreement. <br />4. Conforming Terms. All remaining terms and conditions of the Facility Lease <br />Agreement are hereby conformed to be consistent with the amendments set forth herein. <br />5. Remaining Terms. All remaining terms and conditions of the Facility Lease <br />Agreement not amended or conformed herein shall remain in full force and effect. <br />6. Recordation. A copy of this Fifth Amendment shall be recorded on the Public <br />Records of Indian River County, Florida. <br />Page 2 of 4 <br />