10-26RESOLUTION NO. 10-26
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF
CLEARWATER AND L.O.M., INC; PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City and L.O.M., Inc., entered into a development agreement
dated February 18, 2010 and recorded on February 22, 2010; and
WHEREAS, the City of Clearwater is desirous of amending the development
agreement with L.O.M., Inc.; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section1. The Amendment to the Development Agreement between the City of
Clearwater and L.O.M., Inc., a copy of which is attached as Exhibit "A," is hereby
approved.
Section 2. The required Commencement Date for the project is hereby amended
from September 30, 2010 to February 28, 2011, with the required Completion Date
amended to 19 months after the Commencement Date.
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this
Ste' day of V0,7 ? , 2010.
Frank V. Hibbard
Mayor
Approved as to form:
?J it- L
Pamela K. kin
City Attorney
Attest:
Rosemarie Call
City Clerk
V'- Tilt
?c?
Resolution 10-26
KEN BURKE, CLERK OF COURT
PINELLAS COUNTY FLORIDA
INST# 2010305585 10/28/2010 at 03:06 PM
OFF REC BK. 17072 PG: 504-506
DocType:AGM RECORDING: $27.00
FIRST AMENDMENT TO AGREEMENT
FOR DEVELOPMENT OF PROPERTY
(SURF STYLE CONDOMINIUM PROJECT)
THIS FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT OF
PROPERTY (SURF STYLE CONDOMINIUM PROJECT) (this ".First Amendment"),
executed as of the S6 day of October, 2010, is by and between THE CITY OF
CLEARWATER, FLORIDA, a Florida municipal corporation (the "LLty"), and L.O.M., INC.;
a Florida corporation ("Developer").
RECITALS:
A. City and Developer are parties to that certain Agreement for Development of
Property (Surf Style Condominium Project) dated as of February 1. 8, 2010 (the "Development
Agreement"). ^
herein.
B. City and Developer wish to amend the Development Agreement as set firth
NOW, THEREFORE, in. consideration of the sum of Ten :Dollars ($10.00) and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:
1. Recitals-Definitions. The foregoing Recitals are true and correct and are hereby
incorporated by reference. All capitalized terms not defined herein shall have the meanings
given such terms in the Development Agreement.
2. Commencement Date;. The outside date for the Commencement Date under the
Development Agreement is hereby extended for a period of approximately :Give (5) months from.
September 30, 2010 to February 28, 2011. Accordingly, the Commencement Date under the
Development Agreement means the date on which. Developer commences or causes a contractor
to commence construction see Section 5.03(4)), which date shall occur on or before :February
28, 2011. All references to the Commencement Date and cormmenceanent of construction under
the Development Agreement shall be modified to refer to the Commencement Date as defined in
this First Amendment.
3. Completion Date. The definition of Completion Date under Section 1.01(1.1.) of
the Development Agreement is hereby modified to delete "twenty-four (24) months following
the Commencement Date" in the third and fourth lines of the definition, and insert in lieu thereof
"September 30, 2012". All references to the Completion Date under the Development
Agreement shall be modified accordingly.
4. Obligations of the .Developer. Section 5.03(4) of the Development Agreement is
hereby modified to replace "September 30, 2010" with "February 28, 2011 ".
5. Counterparts: E-Mail Delivery. This First Amendment may be (a) executed in
any number of counterparts, each of which shall be deemed an original, but a complete set of
which shall constitute one and the same document and (b) executed and delivered via e-nail in
PDF format, and a PDT' copy shall for all purposes be deemed an original.
6. N<Zn-Cvnaictinst Terms. This First Amendment shall be part of and take
precedence over any provisions to the contrary contained in the Development Agreement. All
terms of the Development Agreement that are not in conflict with the terms hereof shall remain
in full force and effect.
7. Binding Effect. This First Amendment shall be binding upon, and shall inare to
the benefit of, the parties hereto and their respective successors and assigns.
IN WITNESS WHEREOF the parties hereto have executed this First Amendment as of
the date set forth above.
Countersigned:
CITY OF CLEARWATER, FLORIDA, a Florida
municipal corporation
y:
lirank, V. Hibbard William B. Horne 11 ?
Mayor City Manager
Approved as to form:
Pamela K. Akin
City Attorney
Attest:
) akLAC.
Rosemarie
City Clerk
[ADDITIONAL. SIGNATURES FOLLOW ON NEXT PAGE,]
2
L.O.M., INC., a Florida corporation
By:
Name: _ ?>
Title: 1rG41 citn't
STATE OF FLORIDA
COUNTY OF W"k
The fore 7oing instrument was acknowledgred before me his ? q day of ??YJLX , 2010 by
p Si of L.O.M., INC, a
I?VV W1 oV?i( `1/1 as
FlorUignature on behalf' of the corporation.
NOTARY PUBLIC-STATE OF FLORIDA
Lauren Weeks
By; 0.Commission#DD614429
Notary Public ,,,,,,.,' spires: DEC. 30, 2010
p p J? BONDED THRU ATLANTIC BONDING CO., INC. /
WI-?, u r?V? W VL/F- S - My Commission Expires: 3Q/ U
Printed, typed or stamp
MIAL4SHN 181,462,002x2 1.0-7-10 111037.010200