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Last modified
8/28/2017 2:58:39 PM
Creation date
8/28/2017 12:49:24 PM
Metadata
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Template:
Official Documents
Official Document Type
Third Amendment
Approved Date
06/04/2013
Control Number
2013-099
Agenda Item Number
13.D.
Entity Name
Verotown LLC
MiLB
Subject
Amendment No. 3 Facility Lease Agreement
Area
Hotel Room Renovations
Alternate Name
Dodgertown
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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 Damages. 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°°".tLiotown 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. Property 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 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 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 5.01. <br />Nothing in this subsection shall be construed as reit.kng 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 />
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