1/4/2021 1:17:00 PM
11/7/2018 2:01:28 PM
Official Document Type
Agenda Item Number
Mattress Firm Sebastian
Lease Amendment Five Years
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Mattress Firm # 052123 <br />AMENDMENT TO LEASE <br />This Amendment to Lease (this "Amendment") is made effective October 1, 2018 between Indian <br />River County ("Landlord"), and Mattress Firm, Ine.("Tenant"). <br />RECITALS <br />WHEREAS, Landlord and Tenant executed that certain lease agreement dated 3/19/2010 (as amended <br />from time to time thereafter, the "Lease"), in regard to certain premises containing approximately 4800 square <br />feet of leasable floor area located at 1919 U.S. Highway 1, Sebastian, FL, as more particularly described in the <br />Lease; and <br />WHEREAS, Landlord and Tenant desire to modify certain terms and conditions of the Lease. <br />NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, <br />the receipt and sufficiency of which are hereby acknowledged and confessed, Landlord and Tenant hereby agree <br />as follows: <br />1. Landlord and Tenant acknowledge and agree that the current term of the Lease is set to expire <br />as of 4/30/2022. Landlord and Tenant further acknowledge and agree that notwithstanding anything to the <br />contrary contained in the Lease, base rent for the remainder of the current term through such revised date shall <br />be $11.78 per square foot or $56,544.00 annually, payable in 12 monthly installments of $4,712.00. <br />2. Landlord and Tenant acknowledge and agree that, following the expiration of the current term, <br />Tenant shall have an option to further extend the lease term for an additional five (5) year period from 5/1/2022 <br />to 4/30/2027 (the "Option Term"), exercisable upon at least one hundred eighty (180) days written notice by <br />Tenant and the base rent for the Option Term shall be $13.50 per square foot or $64,800.00 annually, payable in <br />12 monthly installments of $5,400.00. Notwithstanding anything in the Lease to the contrary, the lease term <br />shall not automatically extend and the Option Term shall only commence if Tenant has provided written notice <br />of its election to exercise the option. Further, Landlord and Tenant acknowledge and agree that there is no right <br />to extend the Lease past the stated Option Term. <br />3. Notwithstanding anything to the contrary contained in the Lease, Landlord and Tenant <br />acknowledge and agree that any notices required or permitted to be sent to Tenant under the Lease shall be <br />addressed as follows: <br />Tenant: <br />Mattress Firm # 052123 <br />c/o Mattress Firm, Inc. <br />10201 South Main Street <br />Houston, Texas 77025 <br />Attention: Real Estate Department <br />With a copy of default notices, if any, to: <br />Mattress Firm # 052123 <br />c/o Mattress Firm, Inc. <br />10201 South Main Street <br />Houston, Texas 77025 <br />Attention: Lease Admin. Department <br />
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