SECOND AMENDMENT TO LEASE AGREEMENTSECOND AMENDMENT TO LEASE AGREEMENT
THIS SECOND AMENDMENT TO LEASE AGREEMENT (the "Amendment ") is made and
entered into on this Ai -7" day ofJLLL? , 2017, ( "Effective Date ") by and between the
City of Clearwater, Florida, a municipal corporation of the state of Florida, ( "City ") and the
Clearwater Golf Associates, Inc., whose address is 1875 Airport Drive, Clearwater Florida 33765,
( "Club ") amending that certain Lease Agreement ( "Lease ") between the parties dated December
19, 2001, recorded on January 17, 2002 in O.R. Book 11793, page 759, Public Records of Pinellas
County, Florida, and amended by First Amendment to Lease Agreement dated February 11, 2010.
WHEREAS, pursuant to the original Lease, the City leased certain city -owned property
( "Golf Course ") to the Club; and
WHEREAS, the Club has been faithful to comply with all of the provisions of the
Agreement; and
WHEREAS, over the past sixteen (16) years the Club has invested over $1,250,000 in
upgrades and improvements to the Golf Course property and buildings in accordance with the
Lease and First Amendment to the Lease; and
WHEREAS, the Club has created a much improved asset for the City and provided
excellent golfing and recreational opportunities and programs for residents and visitors to
Clearwater; and
WHEREAS, there are additional capital improvements that need to be made at the golf
course over the next several years outside of the control of the Club and the City; and
WHEREAS, the Club needs additional relief from its obligations under the current Lease in
order to accomplish the additional improvements, which are estimated to be valued at $400,000;
and
WHEREAS, the City agrees that the installation of a new irrigation system is needed for the
entire 18 hole golf course as well as driving range and are in the public interest, necessary to
maintain the City's property asset, and continue providing the recreational services provided by the
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Club and the City, and that such improvements are a value to the City and citizens of Clearwater
and beyond the normal routine maintenance obligations of the Club; and
WHEREAS, the parties desire to amend the Lease so that the Club can construct these
additional needed improvements.
NOW THEREFORE, in consideration of the mutual covenants set forth herein, and other
good and valuable consideration, the receipt of which are hereby acknowledged, the Parties agree
as follows:
1. Recitals. The foregoing recitals are true and correct and are incorporated in and form a
part of this Agreement.
2. Rent Relief in Consideration of Capital Improvements. Section 2, paragraph 4 is
hereby deleted and replaced in its entirety as follows: As consideration of the Club's
capital improvements described in Section 5 of this Agreement, the City agrees to
relieve fifty percent (50 %) of the base rental for the first seven (7) years and nears nine
(9) through fourteen (14) of the Agreement. Beginning with the sixteenth (16) year of
this Agreement, and continuing to the end of the Agreement, the City agrees to relieve
seventy -five percent (75 %) of the base rental.
3. Section 5 is amended to provide for the additional list of improvements to be made and
shall read as follows: (f) During the sixteenth (16th) to the nineteenth (19) years of this
Agreement, the Club shall replace the entire underground irrigation system in
accordance with local standards and best practices of the Irrigation Association and
Golf Course Superintendents Association of America for all 18 greens, fairways, and
driving range and support facilities at the Golf Course.
4. Section 21b is amended to provide for reimbursement to the Lessor for new capital
improvements occurring in the 16th through 23rd year should the City terminate this
Lease and shall read as follows:
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b) The Club must submit paid written reports of all improvements within thirty (30) days
of completion of said improvements. City shall have the right to inspect all
improvements.
Years Reimbursement of Club Improvements
0 - 4 100% of Club Improvements
4 - 5 80% of Club Improvements
5 - 6 60% of Club Improvements
6 - 7 40% of Club Improvements
7 - 8 20% of Club Improvements
Underground Irrigation System
Years Reimbursement of Club Improvements
16 - 19 100% of Club Improvements
19 - 20 80% of Club Improvements
20 - 21 60% of Club Improvements
21 - 22 40% of Club Improvements
22 - 23 20% of Club Improvements
5. This Second Amendment shall be effective upon execution retroactively to March 1,
2017.
6. All other terms and conditions of the Lease shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed and delivered this
Amendment the day and year first above written.
Countersigned:
— /tee rIkr\(rt ‘05
George N. Cretekos
Mayor
Approved as o form:
M
M. Sm'
Assistant City A orney
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CLEALR GOLF ASSOCIATES, INC.
By.
rAt\‘3s-N•■, President
CITY OF CLEARWATER, FLORIDA
VBy:
William B. Horne, II
City Manager
Attest:
/(?--P.Y
Rosemarie Call
City Clerk
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