MEMO REGARDNG ADDITONAL RENTAL FOR TENANTS AT CAMPUS WALK
.. .1
GENE MAXON ASSOCIATE~. INC.
DEVELOPMENT Be INVESTMENi" PROPERTIES
I
'.,,') -
E.S. MAXON
C. CALDER BANK W.O. MAXON
S. CAZIN A.T. Ross
A. F ARID A.D. WILLIAMS
12 April 1994
Mr. Charles Warrington/Mr. Sandy Barley
Clearwater Gas Company
900 Chestnut Street
Clearwater, Florida
Re: Gampus Walk Plaza lease to the City of Clearwater
Dear Mr. Warrington/Mr. Barley:
In accordance with our conversations about the referenced proposed
lease and terms and conditions thereof pertaining to additional
rental that all tenants at Campus Walk pare required to pay, please
be advised that for calendar year 1994 we are collecting from each
tenant the amount of $2.52 per square foot for calendar year 1994
as an estimate of the costs for Common Area Maintenance Expense and
Real Estate Taxes and Insurance pursuant to Article I of the
attached lease. As noted in the Lease, this is an estimate of the
actual CAM, Real estate Taxes, and Insurance and other charges
referred to in the Lease. At the end of each calendar year, the
actual costs and expenses to Landlord for that year for CAM, Real
Estate Taxes, Insurance and other charges set forth in the lease
will be determined, and any overage for the year will be assessed
from each tenant at that time in accordance with the Lease. It
must be emphasized that the $2.52 per square foot amopunt fe>r
calendar year 1994 is subject to increase or decrease as the actual
costs are determined at year end, and is not to be considered
absolute. Addditionally, a new estimate will be imposed efective
january 1, 1995 and at the beginning of each calendar year
thereafter throughout the lease term. As set forth in the lease,
the tenants will be responsible for payment of the same monthly
during each calendar year subject to the same adjustment at year
end as set forth in the Lease Agreement.
Attached to this letter is a statement of our intentions with
regard to the space adjacent to the Subject Premises. As set forth
therein it is the intention of Landlord to negotiate in good faith
with Clearwater Gas concerning a possible tenancy by Clearwater Gas
of Unit #303. Because of the uncertainties of the current
LICENSED REAL ESTATE BROKER' PROPERTY MANAGEMENT
28100 US. 19 NORTH' CLEARWATER, FLORIDA 34621
TELEPHONE: (813) 726-0775 . FAX: (813) 726-1171
..
-.i
...
.:
1
..;,....
:'
I
;1
$.
(
OJ
"
I I
Landlord is ~ currently undergoing lease negotiations wi th
Florida Associatss, and Nutri/System, Ltd., a Delaware Limited
Partnership, for a lease of Unit No. 303 at Campus Walk. Until
such negotiations are completed, Landlord will not know the
availability of Unit No. 303 in order to facilitate agreeing to now
and preparing a'right of first refusal agreement for Clearwater Gas
to lease this space at the termination of any lease that may now
exist or may be entered into hereafter with Nutri/System.
Accordingly, it is the intention of Landlord to negotiate in
good faith and offer to Clearwater Gas a right of first refusal to
lease Unit No. 303 at Campus Walk when Unit No. 303 becomes
available at the expiration date or any tertnination of the lease
prior thereto and any lease that may be entered into hereafter with
Nutri/System. It is the intention of Landlord to make available
Unit No. 303 to CleaIWater Gas' at such time upon terms and
,conditions similar to those set forth in the lease between
Clearwater Gas and Landlord that is currently being negotiatad.
The rent tor any lease that would be entered into between
Clearwater Gas and Landlord for Unit No. 303 would be the base
rental amount plus additional rental amounts, plus applicable sales
tax at the expiration date or termination date of the lease with
Nutri/System, whichever occurs earlier, increased by the increase
in the Consumer Price Index durinq the ~ediately proceeding 12-
month period prior to the expiration. date or termination date of
the Nutri/System lease. The computation of said increase would be
s~ilar to that set forth in Rider 2 to the current lease being
negotiated with Clearwater Gas.
.
'.
"'.
''\..
..
.
"
I
page 2
M~. warrington/Mr. Barley
I
negotiations and present lease or future lease with regard to
Nutrilsystem, at this stage a promise of good faith negotiations
must suffice. I trust this will suffice for completion of the
considerations necessary to execute the lease.
If you have any questions, please call me.
Thanks.
ry tr~~
Maxon
ESM/mk
cc: C. Barrett
R. Alpaugh
..
~
GENE MAXON ASSOCIATES. INC.
LICENSED REAL ESTATE BROKER
CLEARWATER. FLORIDA
P.l
<oil
,
I
(..
..
Date
CAMPUS WALl:
ADDKlIDIDI TO OPTION TO RIBEW
In order to clarify and not to &mend rider 2, Option to Renew,
to the attached lease, it is agreed and understood that in the I
event that the tenant does not, for any reason, exercise its option /
to rellew fOL flvtI (5) yeArs conunencing October 1, 1999, that the
option to renew for five (5) years commencing October 1, 2004, is
immediately upon failure to exercise the first option, void and of
no further force nor effect.
~~
./ :z .
f.andlor;c 1<.. A- n...f
Y1~~-Y
It0~
Tenant