SECOND AMENDMENT TO MANAGEMENT AGREEMENT
SECOND AMENDMENT TO MANAGEMENT AGREEMENT
THIS SECOND AMENDMENT TO THE MANAGEMENT AGREEMENT is made
and entered into this ...,.,.... day of , 2003, by and between the CITY
OF CLEARWATER, FLORIDA, a municipa orporation, hereinafter referred to as "City"
and CLEARWATER COMMUNITY SAILING ASSOCIATION, INC., hereinafter referred
to as "Manager":
WHEREAS, City and the Manager agree to this Second Amendment to the
Management Agreement dated July 29, 2002, pursuant to the terms described herein.
NOW THEREFORE, it is mutually agreed as follows:
1. Paragraph 2 (a) of the Management Agreement shall be added as follows:
(a) Base rent: Manager agrees to pay the City as rent during the initial term
of this agreement the sum of Twelve Thousand Dollars ($12,000) annually,
payable in equal monthly installments of One Thousand Dollars ($1,000) per
month, the first such installment being payable upon the execution of this
agreement, and the balance of such installments being payable in advance at
the beginning of each successive monthly rental period thereafter. Also, a
consumer price index (CPI) increase will be added to the rent payment on
January 1s of each year of the lease startinQ January 1 ,2004. In addition,
manager shall pay sales tax on all taxable collected payments.
For each successive extension hereunder, the annual rent shall be increased
by a sum equal to 5% of the annual rent for the immediately preceding
agreement term and such annual rent shall be payable in equal monthly
installments. Manager shall pay rent and any additional rent as hereinafter
provided to City at such place as City may designate in writing, without
demand and without counterclaim, deduction or setoff.
(b) Percentage rent: Starting the second month of the second assignment
year, and continuing for the duration of the assignment and each extension
thereof, the manager agrees to pay and City agrees to accept as additional
monthly percentage rent an amount equal to h"lenty percent (20%) of the prior
month's gross revenues less taxes collected, said payment due on or before
the 10tR day of the month.
2. All of the terms and conditions of the Management Agreement are
incorporated herein by reference and shall continue in full force and effect
throughout the remaining term of this Management Agreement.
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dearwater Community Sailing Association, Inc. Management Agreement
(II)
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IN WITNESS WHEREOF, the parties hereto have set their hands and seals the
day and year above written.
LEARWA TER, FLORIDA
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By.
Wi lam B. Horne, II
City Manager
Attest:
By:
Oearwater Community Sailing Association, Inc. Management Agreement