EXTENSION OF LEASE AGREEMENT
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EXTENSION OF LEASE AGREEMENT
THIS EXTENSION OF LEASE AGREEMENT is made and entered into this /~
day Of~JV9- , 1992, by and between the CITY OF CLEARWATER,
FLORIDA. .J.::,n ie ipa 1 eorporat ion (the "Lessor"), and BRAD YOUNG AND CHARLES J.
POLLICK d/b/a/ BAIT HOUSE (the Lesseell), amending the Lease Agreement (the
II Agreement II) between the Lessor and Jo Ann Homsher dated September 10, 1987,
which Agreement was assigned to Brad Young and Charles J. Pollick d/b/a/Bait
House on January 12, 1988.
WHEREAS, in accordance with Paragraph 1 of the Agreement, Lessee has opted
to renew the Agreement for ~n additional 5-year period; and
WHEREAS, the Lessor is willing to extend the Agreement and has negotiated
a new rental rate schedule with the Lessee; now, therefore,
In consideration of the premises and of the faithful performance by each
of the parties of the covenants and agreements between each other made, it is.
mutually agreed that:
1. The Lease Agreement between the Lessor and Jo Ann Homsher dated
September 10,1987, and the Assignment to Brad Young and Charles J. Pollick
d/b/a/ Bait House on January 14, 1988 (copies of which are attached hereto as
Exhibits A and B and incorporated herein by reference) are extended for an
additional 5-year period beginning October 1, 1992, and ending September 30,
1997.
2. The first two sentences of Paragraph 2 of the Agreement are amended
to read:
2. The Lessee hereby covenants and agrees to pay renta 1
thereof as follows:
a. To pay the total sum of $30.000.00 $21,000.00 for the
~ sixty (60) month extended term of this lease, which shall be paid in
equal monthly payments of .$500.00 $100.00. Each monthly payment
ee/ ~ shall be due and payable on the first day of the month, and shall be
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delinquent if not paid on or before the tenth day of each month. In
addition to the monthly rental, the Lessee shall, at the end of each
month, pay an additional amount equal to eight (8) percent of
monthly gross sales exceeding $10.000.00 $9,000.00 throughout the
term of this lease.
3. The remainder of Paragraph 2 and all other terms and conditions of
the Agreement shall continue in full force and effect throughout the extended
term of the lease agreement.
Countersigned:
CITY OF CLEARWATER, FLORIDA
By:
ita Garvey
Mayor-Commissioner
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Approved as to form and correctness:
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WITNESSES (Two Required):
BRAD YOUNG AND CHARLES L. POLLICK
d/b/a BAIT HOUSE
For Mr. Young:
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For Mr. Po 11 i ck :
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