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11/20/2018_SpecialCall
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11/20/2018_SpecialCall
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Last modified
1/25/2021 12:40:06 PM
Creation date
12/21/2018 2:52:09 PM
Metadata
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Meetings
Meeting Type
Special Hearing
Document Type
Agenda Packet
Meeting Date
11/20/2018
Meeting Body
Board of County Commissioners
Subject
Brightline; All Aboard Florida; Virgin Trains USA
Settlement agreement
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2. Term <br />The term of this Lease shall be from [Insert month, day & year] through [Insert <br />month, day, & year] (the "Term"); provided, however, that Lessee shall have no right to possession <br />of the Leased Premises until (a) the Security Deposit has been delivered to Lessor and, if the <br />Security Deposit is in the form of a check, the Security Deposit shall not be deemed delivered to <br />Lessor until that check has cleared the bank and funds have been credited to Lessor's account and <br />(b) Lessee has provided Lessor with a certificate of insurance evidencing the insurance coverages <br />Lessee is obligated to maintain pursuant to this Lease. <br />This Lease shall automatically renew after the expiration of the Term, for successive twelve <br />(12) month renewal periods (the "Renewal Terms") unless terminated at least thirty (30) days. <br />before the expiration of the Term or Renewal Term, as the case may be, by furnishing written <br />notice of termination to the other party. Unless Lessor indicates otherwise in writing, the <br />covenants and conditions of this Lease in force during the Term, as the same may be modified <br />from time to time, shall continue to be in effect during all Renewal Terms, except that the Base <br />Rent (as hereinafter defined) for each Renewal Term shall be increased by five percent (5%) of <br />the Base Rent for the term immediately preceding the Renewal Term or, upon 30 days notification <br />to Lessee by Lessor prior to the termination of the Renewal Term, Lessor shall establish a new <br />Base Rent in its sole discretion. Except as set forth in this paragraph 2, Lessee shall have no <br />expectation of renewal and this Lease may be terminated in accordance with its terms regardless <br />of the length of time Lessee has occupied the Leased Premises, or the construction by Lessee of <br />any buildings, structures, works, paving, barricades or the placement of Lessee's personal property <br />on the Leased Premises. <br />3. Rent <br />(a) Base Rent <br />During the Term of this Lease, the Lessee shall pay to Lessor [an/a] [annual/semi- <br />annual/quarterly/monthly] rent in advance on or before the 1 st day of each term [year/half- <br />year/quarter/month] plus all sales or use taxes levied by any governmental body for the use or <br />occupancy of the Leased Premises ("Sales and Use Tax"), as set forth below ("Base Rent"):: <br />Effective Date Base Rent <br />Base Rent and Additional Rent (as hereinafter defined) shall be paid to Lessor at FEC ROW LLC, <br />P.O. Box 744305, Atlanta, Georgia 30374, or as otherwise indicated on the applicable invoices. <br />The requirement to pay Base Rent, Additional Rent and other payments shall survive expiration <br />or termination of this Lease until all Lessee's Property (as defined in paragraph 14 hereof) is <br />removed from the Leased Premises in accordance with this Lease and the requirements of <br />paragraph 14 of this Lease are met. <br />2 <br />
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