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2023-034
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2023-034
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Last modified
7/6/2023 11:16:30 AM
Creation date
2/23/2023 3:22:37 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Lease
Approved Date
02/07/2023
Control Number
2023-034
Agenda Item Number
8.K.
Entity Name
Flowsmart Sebastian LLC dba Five Guys
Subject
Letter of Intent for Lease, 1919US Hwy 1 Sebastian
Document Relationships
2023-034A
(Agenda)
Path:
\Official Documents\2020's\2023
2023-034B
(Agenda)
Path:
\Official Documents\2020's\2023
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Insurance $ <br />0.77/SF <br />Outdoor Patio: If approved by City of Sebastian, Florida, which Tenant shall be responsible for <br />obtaining approval, Tenant shall have the right to serve and seat its customers in <br />the outdoor seating area depicted on the Exhibit A (the "Outdoor Seating Area"), <br />which shall be reserved exclusively for Tenant, having space for the maximum <br />number of customers allowable by local laws, municipal codes or ordinances. <br />Tenant shall not be charged for the use of the Outdoor Seating Area nor shall the <br />Outdoor Seating Area be included in the square footage measurement of the <br />Premises. <br />Use of Premises: <br />Operation of Five Guys -k', a fast casual restaurant, with primary sale of <br />hamburgers, hot dogs, and other menu items typical to a Five Guys restaurant, <br />which cooks food for on- and off -premises consumption. <br />Exclusive Use: <br />Tenant shall have the exclusive right to sell hamburgers, cheeseburgers, french <br />fries and other complimentary items, for on- and off -premises consumption at the <br />Shopping Center. Tenant's exclusive shall not pertain to tenants whose sale of <br />such items constitutes ten percent (10%) or less of their gross revenue. Full-service <br />restaurants that take customers' orders at their table and delivers food to their table <br />are also exempt from Tenant's exclusive. <br />Building Plans: <br />Landlord shall provide building plans they have, if any, (including but not limited <br />to structural, mechanical, engineering and plumbing, landscape, and elevation <br />plans) to Tenant within thirty (30) days after execution of this Letter of Intent. <br />Delivery Date: <br />Landlord shall give thirty (30) days prior written notice of Landlord's delivery of <br />the Premises to Tenant. The Delivery Date is estimated to be Q1 2023 (to be <br />further defined).. If the Delivery Date is overdue by seven (7) days, Landlord will <br />credit Tenant one (1) day's rent for each day after the Delivery Date until such <br />time as the Premises are delivered to Tenant. Tenant will have the right to <br />terminate the Lease if Landlord fails to deliver the Premises within one hundred <br />twenty (120) days after the estimated delivery date. If delivery of the premises <br />occurs between October 1, 2023 and December 31, 2023, Tenant will have the <br />option to delay acceptance of the premises until January 1, 2024. <br />Lease Commencement <br />Upon unconditional approval and mutual execution of lease document (Board of <br />County Commission approval) and delivery of space by Landlord to Tenant. <br />Rent Commencement <br />Date: Base Rent shall commence on the date which is one hundred fifty (150) days the <br />date that Tenant receives all permits, variances and governmental approvals <br />necessary to construct Tenant's store pursuant to Five Guys specifications and <br />operate Tenant's store in the Premises. Notwithstanding the foregoing, rent and all <br />additional charges shall commence not later than the date on which Tenant opens <br />Rev. 3.30.17 SN <br />
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