HILLSBOROUGH COUNTY AVIATION AUTHORITY AMENDMENT NO. 2 TO OFFICE CENTER LEASE TAMPA INTERNATIONAL AIRPORT

Transcription

1 AMENDMENT NO. 2 TO OFFICE CENTER LEASE PKY INTERNATIONAL PLAZA I, LLC FORMERLY KNOWN AS CORPORATE CENTER ONE OWNER LLC FORMERLY KNOWN AS CRESCENT BROOKDALE ASSOCIATES, LLC Board Date:, 2016 PREPARED BY: REAL ESTATE DEPARTMENT ATTN: SUSAN COLLINS P. O. BOX TAMPA, FLORIDA 33622

2 AMENDMENT NO. 2 TO OFFICE CENTER LEASE THIS AMENDMENT No. 2 to Office Center Lease is made and entered into as of this 4th day of August, 2016, by and between the, a public body corporate existing under the laws of the State of Florida (hereinafter referred to as the Authority ), and PKY International Plaza I, LLC, a Delaware limited liability company authorized to do business in the State of Florida (hereinafter referred to as the Company ) (hereinafter individually and collectively referred to as the Party or Parties ) (hereinafter referred to as "Amendment No. 2"). WITNESSETH: WHEREAS, on September 9, 1998, Authority and Crescent Resources, Inc., a South Carolina corporation, entered into an Office Center Lease (hereinafter referred to as the Lease ) covering the real property described on Exhibit A, which is attached hereto and incorporated herein by reference; and WHEREAS, in 1999, Crescent Resources, Inc. constructed a six-story, 391,319 square feet (sf) office building and a dry detention pond measuring 176,756 sf (4.058 acres) with capacity for the office building and future construction on the former Tampa Bay Buccaneer s Training Facility (hereinafter referred to as Buc Place ) site adjacent to the dry detention pond and owned by the Authority; and WHEREAS, the dry detention pond was constructed to provide drainage for Company s improvements measuring acres and the future build-out of the Buc Place site measuring 5.64 acres, for a total of acres. However, at the time of construction, only acres were permitted with the Southwest Florida Water Management District (SWFWMD); and WHEREAS, in September of 2001, Crescent Resources, LLC, a Georgia limited liability company and a successor by merger and conversion to Crescent Resources, Inc., assigned its interest in the Lease to Crescent Brookdale Associates, LLC; and WHEREAS, on November 11, 2002, the Lease was amended to increase the development rent by the lesser of ten (10%) percent or the CPI Percentage Increase as defined in the Lease, beginning on September 1, 2015 and on every fifth anniversary date thereafter (hereinafter referred to as Amendment No. 1 ); and WHEREAS, on August 30, 2005, Crescent Brookdale Associates, LLC was assigned to Corporate Center One Owner, LLC; and WHEREAS, on December 9, 2014, Corporate Center One Owner LLC was assigned to PKY Amendment No. 2 to Office Center Lease -1- June 27, 2016

3 International Plaza I, LLC; and WHEREAS, Company currently holds the SWFWMD permit for the detention pond and is currently responsible for all detention pond maintenance; and WHEREAS, the Authority wishes to construct a Commercial Ground Transportation Facility ( CGTF ) on the Buc Place site and wishes to use the existing detention pond for storm water management; and WHEREAS, the Authority will take ownership of the SWFWMD detention pond permit and maintain the detention pond. NOW, THEREFORE, for and in consideration of the sum of Ten Dollars ($10.00) and other valuable consideration, the receipt and sufficiency whereof are hereby mutually acknowledged, the Parties enter into this Agreement and agree as follows: 1. The above recitals are true and correct and are incorporated herein. 2. Company, at Authority s sole cost and expense, will transfer the SWFWMD detention pond permit to the Authority. 3. Authority will maintain the SWFWMD detention pond permit and the 176,756 sf (4.058 acres) detention pond. 4. The Pond Area as shown on Exhibit A includes Company s portion of the detention pond which is 110,649 sf (2.540 acres), or 62.6% of the total detention pond area, and Authority s portion of the detention pond which is 66,107 sf (1.518 acres), or 37.4% of the total detention pond area. 5. Beginning upon the full month following the start of construction of the CGTF, Authority will issue Company a monthly credit for Authority s 37.4% use of the detention pond equal to the then current per square foot land rent multiplied by 66,107 sf. Currently, Company will be credited $ per month (66,107 sf x $.033 = $2,174.92/12=$181.24). 6. Authority shall maintain the Pond Area in a manner consistent with the SWFWMD detention pond permit. Within thirty (30) days after the end of each calendar year, Authority shall submit an invoice to Company for the Pond Area Maintenance ( PAM ), supported by documentation for the total actual and reasonable Pond Area expenses for the prior calendar year. The invoice will include all of the actual and reasonable costs and expenses of operating and maintaining the detention pond including real estate taxes, general liability insurance, ground maintenance and repairs. Company Amendment No. 2 to Office Center Lease -2- June 27, 2016

4 will be invoiced for its proportionate share of PAM Charges and will pay the same to Authority within 30 days of invoice. 7. Company will submit all payments required by this Agreement as follows: (ELECTRONICALLY PREFERRED METHOD) VIA ACH WITH REMITTANCE ADVICE TO OR (MAIL DELIVERY) ATTN: FINANCE DEPARTMENT P. O. BOX TAMPA, FLORIDA OR (HAND DELIVERY) ATTN: FINANCE DEPARTMENT 4160 GEORGE J. BEAN PARKWAY SUITE 2400, ADMINISTRATION BUILDING 2ND LEVEL, RED SIDE TAMPA, FLORIDA Except as otherwise stated herein, all other terms remain in full force and effect and are hereby ratified and confirmed. The Agreement, Amendment No. 1 and this Amendment No. 2 represent the entire understanding between the parties on the issues contained therein, either written or oral, and may be amended only by written instrument signed by both parties. [Remainder of Page is Intentionally Left Blank] Amendment No. 2 to Office Center Lease -3- June 27, 2016

5 IN WITNESS WHEREOF, the parties hereto have set their hands and corporate seals on this day of, ATTEST: By: Victor D. Crist, Secretary Robert I. Watkins, Chairman Address: P. O. Box Address: P. O. Box Tampa, FL Tampa, FL Signed, sealed, and delivered in the presence of: LEGAL FORM APPROVED: By: David Scott Knight Assistant General Counsel _ STATE OF FLORIDA COUNTY OF HILLSBOROUGH The foregoing instrument was acknowledged before me this day of, 2016, by Robert I. Watkins in the capacity of Chairman, and by Victor D. Crist in the capacity of Secretary, of the Board of Directors, Hillsborough County Aviation Authority, a public body corporate under the laws of the State of Florida, on its behalf. They are personally known to me and they did not take an oath. (Stamp or seal of Notary) Signature of Notary Type or print name of Notary Date of Commission Expiration (if not on stamp or seal) Amendment No. 2 to Office Center Lease -4- June 27, 2016

6 PKY INTERNATIONAL PLAZA I, LLC Signed in the presence of: By: Kyle Burd Title: Vice President and Managing Director Print Address PKY INTERNATIONAL PLAZA I, LLC STATE OF COUNTY OF The foregoing instrument was acknowledged before me this day of, 2016, by Kyle Burd in the capacity of Vice President and Managing Director, at PKY INTERNATIONAL PLAZA I, LLC, a limited liability company, on its behalf. He is known to me and (personally/not personally) has produced. (Form of identification) (Stamp or seal of Notary) Signature of Notary Type or print name of Notary Date of Commission Expiration (if not on stamp or seal) Amendment No. 2 to Office Center Lease -5- June 27, 2016