TEN YEAR LEASE AGREEMENT
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LEASE AGREEMENT
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~-HIS LEASE AGREEMENT, m~and entered into this
~ ._~ ' 19 ~, by and between the CITY OF CLEARWATER,
FLORIDA, a nicipal corporation, hereinafter referred to as "Lessor" and
ARNOLD-BROWN PROPERTIES, hereinafter referred to as "Lessee".
WI TN E SSE T H :
WHEREAS, the Lessor has title to real property located in the
City of Clearwater, Florida, described as follows:
West 150. of M & B of NE ~ of Section 16,
Township 29 South, Range 15 East
and
WHEREAS, the Lessor presently owns the above described property;
WHEREAS, the Lessor has agreed to lease the same to the Lessee
subject to the following terms and conditions;
NOW THEREFORE, in consideration of the mutual promisei herein
contained and the mutual benefit being derived by each of the parties hereto,
it is agreed by and between the parti"es hereto as follows:
1. Lessee agrees to prepare the property for use as a parking lot.
2. The parties hereto agree that the Lessor shall provide pavement
or other stabilized surface and lighting of the said parking lot at its own
expense. Lessee shall provide signs and landscaping.
3. The parties hereto further agree that the ~essee shall pay as a
rental for the demised premises to the Lessor the sum of:
Years 1 through 5
Years 6 through 10
$150.00 per month
$180.00 per month
Rent shall be paid in advance' by the fi rst day of each month.
4.
The term of this lease shall be for
ten (10) years from the
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date
of the full execution hereof by the parties COll1l1encing
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5. Lessee agrees to insure itself against claims of injury to
person or property resulting form its negligence.or that of its agents in
its general liability policy and to indemnify and hold harmless the Lessor from
any such claims.
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6. The parties hereto further agree:
a. That the Lessor shall provide adequate lighting in its
judgment for the premises.
b. Lessee agrees to make maintenance repairs to the surface of
_ the parking lot which are attributable to its use as a parking lot.
7. Recapture and Termination of Lease. Both of the parties
hereto agree that in the event that the Lessor desires to recapture the
property and cancel the lease that it may do so only on the following terms
and conditions:
a. Lessor may cancel the lease if any portion of subject
property is needed for improvement of Drew Street. At least ninety (90) days
notice shall be given to the Lessee of its intention to do so, said notice to
be in writing.
b. That the Lessee shall have the right to remove any and all
signs installed by Lessee. All improvements to the surface, lighting, and
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landscaping shall remain with the property.
c. That the Lessee shall have the right to cancel this lease
for any purpose or reason upon giving a ninety (90) day notice in writing to
the Lessor.
d. If Lessee shall default in the performance of any of the
terms of this lease and such default shall not be cured within thirty (30)
days after notice from Lessor, then Lessor may immediately terminate this
lease and recover possession of the premises.
.8. In the event that the State of Florida or other governmental
agency is entitled to receive any use tax from the Lessor as a result of
the rental of these premi ses to the Lessee, the tax shall be pai d by the
Lessee in addition to the rental. The Lessor shall be responsible for all
ad valorem taxes and other assessments against the property.
9. This Agreement shall be binding upon the parties hereto and
their respective successors, personal representatives and/or assigns.
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IN WITNESS WHEREOF, the said parties have hereunto set their hands
and seals on the day and year first above written.
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By
Countersi)gned:
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Approved as to form and correctness
Attest: _
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~ . Ci ty Attorney
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ci.ty ~.erl<
Signed, sealed and delivered in the
presence of
(SEAL)
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LESSEE
As to Arnold-Brown Properties
Corporate Seal
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