HomeMy WebLinkAbout2023 - Foruth AmendmentFOURTH AMENDMENT TO LEASE AGREEMENT
This Agreement, made and entered into this 25th day of October 2023 by and between the City of
Sebastian, a municipal corporation of the State of Florida, located at 500 Airport Drive West, Sebastian, FL,
Indian River County, Florida, hereinafter referred to as the "Lessor" or "City" and Mishler Enterprises, Inc.,
hereinafter referred to as "Lessee," a corporation organized and existing under the laws of the State of Florida.
WITNESSETH:
WHEREAS, the City of Sebastian and Lessee have heretofore executed an indenture of lease dated
September 27,1995, hereinafter referred to as "Original Lease" pursuant to which the City leased unto Lessee
certain real property located on the Sebastian Municipal Airport, such real property shall hereinafter be
referred to as the "Leased Premises", and
WHEREAS, the Parties previously executed three prior extensions/addendums to the Original Lease
on the following dates:
(1) 12th day of March, 2009; and
(2) 9th day of June, 2010; and
(3) 9th day of September, 2019; and
WHEREAS, the Parties wish to amend the Original Lease under the following terms as outlined
herein.
NOW, THEREFORE, in consideration of the premises and of the mutual covenants hereinafter
contained, the parties hereto do hereby agree to be bound as follows:
1. Amendment of Terms:
A. Section 4 — RENT (b), shall be revised as follows:
Time of the Essence. The Tenant agrees promptly to perform, comply with and abide
by this Lease, and agrees that timely payment is of the very nature and essence hereof.
In the event that any rental payment due hereunder shall not be paid within five days of
when due, Tenant shall pay Landlord a late payment fee of 5% of the amount of such
late Rental Payment. This charge shall be considered additional rent and not interest.
2. The effective date of this Addendum shall be November 1, 2023.
3. Except as hereby amended, the Original Lease, all subsequent amendment documents and all
terms contained therein shall remain in full effect and binding on the Lessor and the Lessee
except those which are rendered obsolete by being in conflict herewith. Nothing herein is
intended or shall be construed as a substitution or novation of the Original Lease and its prior
extensions/addendums.
ATTEST:
Clerk
CITY OF SEBASTIAN, FLORIDA
Fred Jones, Mayor
// Date: 1 2-01 —2023
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Mishler Enterprises
ATTEST:
Corporate Secretary
Corporate Seal
State of k0e, 6(0-
Countyof: W )'.) YA-+J IC 1 \/4-2
The foregoing instrument was acknowledged before me [in person X or via electronic means I on this ! day of
bp- P2 M &t,,— 2023, by Michael Dodson as President of Mishler Enterprises, Inc., who is personally known to
me, or has produced his/he<Fver s t or his/her as identification, and did_ or did
not k take an oath.
Notary Seal: CATHERINE E. TESTA
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Approved as to form and legality
This ? day of 1, 2023.
Cit ttorney
Notary Public, State of�lo
ana
HOME OF PELICAN ISLAND
CITY COUNCIL AGENDA TRANSMITTAL
Council Meeting Date: October 25, 2023
Agenda Item Title: Approval of Fourth Amendment to Airport Lease Agreement with Mishler
Enterprises, Inc. to Revise Section 4(b) and Provide for a Late Payment Fee.
Recommendation: Staff recommends approving this Lease Amendment to provide for a late
payment fee, if the rental payment is not paid within five days of being due.
Background: The original lease agreement dated September 27, 1995 was assigned to
Mishler Enterprises on September 9, 2019. It was first amended to authorize sub -tenants; then amended to
modify the tenants permitted uses; and then amended to correct a scrivener's error in the tenant's name.
The original lease agreement was written without a provision for a late rent payment fee, which is included in
all the other leases at the Airport. This amendment is intended bring the original lease in line with all other
lease agreements on the airport.
If Agenda Item Reauires Expenditure of Funds:
No expenditures required.
Attachments:
1. Mishler Enterprises, hie., Lease Amendment Four
2. Mishler Enterprises, Inc., Lease Agreement
Administrative Services Department Review:/1
City Attorney Review:
Procurement Division Review, ffapplicable: /V
City Manager Authorization:
Date: %Of iYldoa 3 /