HomeMy WebLinkAbout2014-0331
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Prepared by, record and return to.
Office of the County Attorney
1801 27th St., Vero Beach, FL 32960
Telephone: 772.226.1424
VI/zot44
cpd/y- 033
FIFTH AMENDMENT TO FACILITY LEASE AGREEMENT
THIS FIFTH AMENDMENT is entered into as of this 1 stday of April , 2014, by
and between Indian River County, a political subdivision of the State of Florida ("County") and
Verotown, LLC, a Delaware limited liability company authorized to do business in the State of
Florida ("Verotown").
WHEREAS, on or about May 1, 2009, the County and MiLB Vero Beach, LLC, a
Florida limited liability company (` MiLB"), entered into the Facility Lease Agreement in which
the County leased the Facility to MiLB, and granted to MiLB certain management rights with
respect to the Facility, for a term of five years ending April 1, 2014 ("Original Lease"); and
WHEREAS, on or about June 1, 2011, the County. and MiLB entered into the First
Amendment to Facility Lease Agreement ("First Amendment"); and
WHEREAS, on or about January 1, 2012, the County, MiLB and Verotown, entered into
the Second Amendment to Facility Lease Agreement, in which, among other things, the rights
and obligations of MiLB under the Original Lease and the First Amendment were assigned to
Verotown ("Second Amendment"); and
WHEREAS, on or about July 16, 2013, the County and Verotown ("the Parties') entered
into the Third Amendment to Facility Lease Agreement, ("Third Amendment") in which, among
other things, Verotown exercised its right to renew the lease for an additional five years, and the
County agreed to pay for or reimburse Verotown for the actual costs of renovating 67 hotel
rooms in an amount not to exceed $600,000; and
WHEREAS, on or about March 10, 2014, the Parties entered into the Fourth
Amendment to Facility Lease Agreement ("Fourth Amendment") in which, among other things,
the Parties amended the number of hotel rooms that need to be renovated from 67 to 66 and the
County agreed to increase its budget for the referenced renovations from $600,000 to $634,000;
and
WHEREAS, the County wishes to amend Section 5 of the Fourth Amendment both to
increase its budget for renovating the remaining 66 hotel rooms from $634,000 to $670,245.22,
and to reserve the right to increase and/or decrease its budget by a total $50,000 in the future for
the referenced renovations using change orders approved by the Indian River Board of County
Commissioners; and
WHEREAS, the County and Verotown reaffirm their desire to preserve the rich
traditions and history of "Dodgertown and the Facility, and recognize that the benefits to the
local community of continuing baseball, athletic, conference and other activities at the Facility
are unique and diverse, and include, without limitation, increased economic activity and
employment opportunities, increased tourist trade and promotional opportunities, increased
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direct and indirect tax revenues, private sector payment of substantial maintenance and operation
expenses which would otherwise burden local taxpayers, and other such benefits,
NOW THEREFORE, in consideration of the mutual. undertakings herein and other good
and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the
parties agree, as follows:
1. Recitals. The above recitals are true and correct and are incorporated herein.
2. Hotel Room Renovations. In Section 5 of the Fourth Amendment, the County
agreed to provide up to $634,000 for renovating 66 of the remaining hotel rooms. Due to a
number of unforeseen expenditures, the Parties agree that it is not feasible to conduct the
referenced renovations for $634,000 or less. Therefore, Section 5 of the Fourth Amendment is
hereby amended to state that the County shall pay $670,245.22 for all of the actual costs
associated with renovating 66 of the remaining hotel rooms. Should another unforeseen
expenditure arise in the future pertaining to the referenced hotel room renovations the County
reserves the right to increase and/or decease its budget by a total of $50,000 using change orders
that have been approved by the Indian River Board of County Commissioners. All of the other
terms and conditions of Section 5 of the Fourth Amendment to Facility Lease Agreement remain
in full force and effect.
3. Good Standing — No Violation. The County and Verotown agree that, as of the
date of this Fifth Amendment, the Facility Lease Agreement is in good standing and neither party
is in breach or violation of the terms and conditions of the Facility Lease Agreement.
4. Conforming Terms. All remaining terms and conditions of the Facility Lease
Agreement are hereby conformed to be consistent with the amendments set forth herein.
5. Remaining Terms. All remaining terms and conditions of the Facility Lease
Agreement not amended or conformed herein shall remain in full force and effect.
6. Recordation. A copy of this Fifth Amendment shall be recorded on the Public
Records of Indian River County, Florida.
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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed in
their respective names as of the date set forth above.
ATTEST: Jeffrey R. Smith,
Clerk of Court and Comptroller
By:
Deputy Clerk
AFFIX SEAL:
Approved:
By
J
•vS,ty C00000h'M%•
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eph A Baird, Administrator
Signed and delivered in the presence of:
Print name:
Print name:
VEROTOWN, LLC, a Delaware limited
liability company (`Verotown") by POM
Vtown, LC a California limited liability
corporaon, its Manager
By:
Print Name.
Print Title: Manager
BOARD OF COUNTY COMMISSIONERS,
INDIAN RIVER COUNTY
t
By
Peter O'Bryan, Chairman
Approved by BCC: April 1 2014.
Approved as to form and legal sufficiency:
By:
Dylan Reingold County Attorney
Page 3 of 4
STATE OF CALIFORNIA
) ss:
COUNTY OF LOS ANGELES
On ,(I 25 2014, before me, Erin K[&U Nati , personally
appeared Peter O'Malley who proved to me on the basis of satisfatg ry evidence to be the
person( -s) whose name(s) is/ace subscribed to the within instrument and acknowledged to me that
he/sheftkey executed the same in hisithegthear authorized capacity(, and that by his/lief/the-if
signatures-) on the instrument the person4s), or the entity upon behalf of which the person()
acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
ERIN KELSEY NALL
Commission • 1999622
•Notary Public - Catdornia
Los Angeles County j.
Comm lxptris Dec 1, 2016
SignatureYei(F1•501-19.QU
(Seal)
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