LETTER TO EXTEND LEASE TERM THROUGH SEPTEMBER 30, 2004
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CITY OF CLEARWATER
POST OffICE Box 4748, CLEARWATER, FLORIDA 33758-4748
Ow HAll, 112 SoeTH OSCEOL\AVE:\eE, CLEARWATER, FLORIDA 33756
TELEPHO:\E (727) 562-4040 FAX (727) 562-4052
Clll' MANAGER
May 19,1999
CERTIFIED MAIL
ASS Properties
21252 U.S, Highway 19 N.
Clear-vater, FL 34625
Re: City of Clearwater First Option to Renew Lease Agreement for
Campus Walk, 2551 Drew Street, Suite No, 304, Clearwater, FL 34625
Dear Sirs:
The City of Clearwater entered into the above-referenced lease agreement for that
property located at 2551 Drew Street, Suite No. 304, Clearwater, FL 34625, on May 12,
1994, Article I, Section 1.01 (b) Lease Term granted an initial period of 64 :months,
which commenced on June 1, 1994, and terminates September 30, 1999. Rider 2 -
Option to Renewprovides that the City of Clearwater has the option to extend the lease
term for a period of 60 months, commencing on October 1, 1999 and terminating
September 30,2004,
This letter will serve as written notice of the City of Clearwater's intention to exercise
the first option for renewal for a period of 60 months commencing on October 1, 1999,
and terminating September 30, 2004, The renewal term and the annual escalation in
the base rent shall be calculated as described in the lease agreement between the
parties. All other terms and conditions in the lease agreement shall remain in full force
and effect.
Thank you in advance for your cooperation on this matter.
SrCerelY,
Michael Roberto, City Manager
MRlJClln
ONE Cril'. O"E Fen.RE.
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EXHIBIT "B"
Page 1 of 2
"EQUAL E~IPLO,,",IE:\'T AND AFflR.\L-\TIVE ACTIO:\' E~IPLOYER"
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Of Counsel:
MILTON D. JONES
A 7TORNEY A T LA W
(727) 446-1160
JERRY C. COBB
ATTORNEY AT LAW
SUITE 206-207
LEGAL ARTS BUILDING
501 So, FT, HARRISON AVENUE
CLEARWATER, FLORIDA 33756
August 17, 1999
CERTIFIED RETURN RECEIPT
Michael Roberto, City Manager
City of Clearwater
P.O. Box 4748
Clearwater, FL 33758-4748
Telephone
(727) 442-3465
(727) 443-1738
FAX (727) 441-3024
RE: Exercise by City of Clearwater of First Option to Renew
Lease Agreement for Campus Walk, 2551 Drew St.
Suite No. 304, Clearwater, FL 34625
Dear Mr. Roberto:
As the attorney for the landlord, ABS Properties, this will
acknowledge receipt of your letter dated May 19, 1999, exercising the
City's first option to renew the lease agreement for Suite No. 304,
Campus Walk, 2551 Drew Street, Clearwater, Florida, for a period of five
(5) years commencing October 1, 1999. A copy of your May 19, 1999,
letter is enclosed herewith for your ready reference.
With respect to the annual rent escalation provided for in the
Rider 2 - Option to Renew attached to the lease agreement, the index and
calculation of changes in the amount of base rent is an amount equal to
the percentage change in the Consumer Price Index during the twelve (12)
month period immediately preceding the anniversary. date of the lease
(October 1, 1999) for all Urban Consumers, South region, published by
the Bureau of Labor Statistics of the United States Department of Labor,
the U.S. City Average, All Items (1982-84=100) (the "Index"). Inasmuch
as the Index for October 1, 1999, will not be published prior to the
commencement of the City's renewal term, then pending publication of the
Index for October 1, 1999, we propose to charge the City base rent equal
to that charged during the month of August 1999 and then adjust the
rental once the Index is published.
Lastly, common area maintenance charges are based upon the calendar
year. Hence, current CAM charges shall remain unchanged,until January
2000. Adjustment for the calendar year 2000 will be made in January,
2000.
If you have any questions, kindly contact me.
JCC/dc
Enclosure
cc: ABS Properties
EXHIBIT "B"
Page 2 of 2
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