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HomeMy WebLinkAbout2006-017RESOLUTION NO. 2006- 017 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, APPROVING A FIFTH AMENDMENT TO THE NINETY-NINE YEAR LEASE WITH ST. FRANCIS MANOR OF VERO BEACH, FLORIDA, INC., A FLORIDA NON-PROFIT CORPORATION. WHEREAS, commencing August 8, 1973, and as subsequently amended, St. Francis Manor of Vero Beach, Florida, Inc. ("St. Francis"), entered into a Ninety -Nine Year Lease for the operation and maintenance of low cost housing for the elderly or disabled with limited income, with an annual rental of One Thousand Dollars ($1,000.00) per year ("Lease"); and WHEREAS, the Board of County Commissioners finds that the continued use of such County property promotes the community interests and welfare, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDAIN RIVER COUNTY, FLORIDA, that, pursuant to the authority of Florida Statutes section 125.38, and in accordance with the application made by St. Francis, the Board of County Commissioners hereby approves and authorizes the Chairman to execute a Fifth Amendment to the Lease between the Board of County Commissioners of Indian River County, Florida, and St. Francis Manor of Vero Beach, Florida, Inc. ("Fifth Amendment") to clarify the boundary of the leased property and to delete the reverter clause found in the prior amendments, all as more specifically set forth in the attached Fifth Amendment. The foregoing resolution was offered by Commissioner Wheel er and seconded by Commissioner Bowden , and, upon being put to a vote, the vote was as follows: Chairman Arthur R. Neuberger Vice Chairman Gary C. Wheeler Commissioner Sandra L. Bowden Commissioner Wesley S. Davis Commissioner Thomas S. Lowther Aye Ay e Aye Aye Aye The Chairman thereupon declared the resolution duly passed. and adopted this 7th day of Februrary, 2006. INDIAN RIVER COUNT , FLORIDA Attest. LJS Barton, Clerk By. Deputy Clerk Appro ed as to form and legal juff arian E. Fell Assistant County Attorney BOARD OF COUNTY OMMISSIONERS Arthur R. Ne e er, Chair -R Witnesses: 4 7i J k L Printed Name: 1if_Y1eij{. (/fin/ii (, geet— Printed Name: j6,- ,. rnt- STATE OF FLORIDA COUNTY OF INDIAN RIVER ST. FRANCIS MANOR OF VERO BEACH, FLORIDA, INC. By: Date rank L. Zorc, Presi• ent Emeritus The foregoing was acknowledged before me this 4-5 day of January, 2006, by Frank L. Zorc, President Emertius of ST. FRANCIS MANOR OF VERO BEACH, INC., a Florida non-profit corporation, on behalf of said corporation. 42_ec, Wpiu20},_ Signature of Notary Public - State of Florida Stamped Commissioned Name of Notary Public with Commission Expiration Date and Seal: Personally Known OR Produced Identification v. Lea R. Keller My Commission DD315301 11.1aasir Expires May 16, 2008 Type of Identification Produced 3 FIFTH AMENDMENT TO NINETY-NINE YEAR LEASE [ST: FRANCIS MANOR LEASE] THIS FIFTH AMENDMENT TO NINETY-NINE YEAR LEASE ("Fifth Amendment") is made and entered into this 7th day of February, 2006, nunc pro tunc to October 12, 2004 ("Amendment") by and betweenINDIANRIVER COUNTY, a political subdivision of the State of •Florida, by and through its Board of County Commissioners ("County"), and ST. FRANCIS MANOR OF VERO BEACH, FLORIDA, INC., a Florida non-profit corporation ("Lessee"). BACKGROUND RECITALS: A. On August, 8, 1973, the County as Lessor and Lessee entered into a Ninety -Nine Year Lease covering certain lands described therein, recorded in the public records of Indian River County, Florida, in O.R. Book 516, Page 305 ("Original Lease"). B. The Original Lease was amended by Amendment and Modification of Ninety -Nine Year Lease "dated February 6, 1980" ("First Amendment") The First Amendment is unrecorded and added certain lands set forth therein to the leasehold estate of the Original Lease. C. A Second Amendment and Modification of Ninety -Nine Year Lease was executed on July 27, 1993, and recorded in the public records of Indian River County, Florida, in O.R. Book 982, Page 2197 ("Second Amendment"). The Second Amendment allows Lessee the ability to refinancean:y mortgage encumbering the leasehold improvements. D. A Third Amendment and Modification of Ninety -Nine Year Lease was executed on September 19, 1994 "'("Third Amendment"). The Third Amendment is unrecorded and added certain adjoining and contiguous land to .the leasehold estate created by the Original Lease; subject, however, to such land reverting back to the County if an assisted living facility was not built on such land within five years of September 19, 1994. E. A Fourth Amendment and Modification of Ninety -Nine Year Lease was executed on October 12, 1999, and was recorded in thepublic records of Indian River County, Florida, in O.R. Book 1299, Page 1237 ("Fourth Amendment"), The Fourth Amendment extended the construction: period for the assistedliving facility for five years from October 12, 1999; subject, however, to the same reverter as contained in the Third Amendment. F. By its terms, the Fourth Amendment expired October 11, 2004, and the land added to the leasehold estate in accordance with the Third Amendment and Fourth Amendment would be. subject .to revert to the County on that date. 1 G. Thereafter, on September 27, 2005, Lessee notified Indian River County, as Lessor, that, due to the complexities involved, Lessee was abandoning the idea of constructing an assisted living . facility on the additional land and now desires to construct additional apartments similar to the existing 98 units of Lessee on the demised premises. H. County as Lessor desires to waive strict enforcement of the termination and reverter provisions contained, in the Third Amendment and Fourth Amendment. County and Lessee desire to amend the Original Lease by this Fifth Amendment to remove any reverter provisions contained in the Third Amendment and Fourth Amendment on the lands added to the leasehold estate by the Third Amendment, such that the additional lands are made a part of the Original Lease until the expiration of the Original Lease on August 7, 2072. NOW, THEREFORE, . for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties to this Fifth Amendment agree as follows: 1. The background recitals are true and correct and form a material part of this Fifth Amendment. 2. From and after the effective date of this Fifth Amendment, the parties acknowledge and agree that the land depicted on Exhibit "A" attached hereto and incorporated herein in its entirety by this reference constitutes the demised premises and leasehold estate created by the Original Lease; as amended, free and clear of the reversionary provisions found in the Third Amendment and Fourth Amendment. 3. All terms and conditions of the Original Lease, as heretofore amended and not otherwise amended by this Fifth Amendment, shall remain in full force and effect. IN WITNESS WHEREOF, County and Lessee have caused this Fifth Amendment to be executed by the respective duly authorized representatives of the parties as of the day and year first written above. Attest: J.K. Barton, Cler By_�E Deputy Clerk Approved: 4. OCUA seph A. Baird ounty Administrator INDIAN RIVER COUNTY, FLORIDA Board of County Co - issioners B Arthur R. 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