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FOOD AND DRINK BUSINESS TENANT GRANT PROGRAM GRANT AGREEMENT - VECTOR AMUSEMENTS LLCFOOD AND DRINK BUSINESS TENANT GRANT PROGRAM GRANT AGREEMENT 629 CLEVELAND STREET, CLEARWATER, FL 33755 VECTOR AMUSEMENTS LLC, D/B/A VECTOR BAR AND ARCADE THIS AGREEMENT, entered into this .2©' day of C-eJvual , 2019, by and between the Community Redevelopment Agency of the City oi"Clearwater, Florida (hereinafter "CRA"), whose address is P.O. Box 4748, Clearwater, Florida 33758-4748, a public body corporate and politic of the State of Florida, and Vector Amusements LLC, d/b/a Vector Bar and Arcade whose address is 629 Cleveland St., Clearwater, FL 33755 (hereinafter "Grantee"). WITNESSETH WHEREAS, the CRA has committed CRA funds to be applied to the recruitment and relocation of businesses to the Community Redevelopment Area (CRA Redevelopment Incentive Funding); and WHEREAS, the CRA adopted the Food and Drink Business Tenant Grant Program to provide limited financial support to tenants who meet the CRA's redevelopment strategy for downtown but were not eligible to participate in the former Anchor Tenant incentive program; and WHEREAS, the CRA also adopted the Food and Drink Business Tenant Grant Program to sustain food and drink establishments that are open on nights and weekends in the CRA to promote downtown's ongoing revitalization as a dining destination; and WHEREAS, the Grantee is a downtown drink establishment open on nights and weekends in the CRA that was otherwise not eligible to participate in the former Anchor Tenant incentive program but who does meet the CRA's redevelopment strategy for downtown; and WHEREAS, the Grantee is requesting assistance with the costs of improvements to the building it is leasing, new fixtures, new furnishings, and signage; NOW THEREFORE, in consideration of the premises, the mutual covenants, and promises contained herein, and other good and valuable consideration, the Grantee and the CRA agree and covenant each with the other as follows: A. GENERALLY 1. Recitals. The foregoing recitals are true and correct and are incorporated in and form a part of this Agreement. 2. The Grantee hereby certifies that it is the tenant under a fourteen -month Lease Agreement with TRT Management, LLC that expires 2/28/2019 and a two-year Lease Agreement with CBW Management, LLC for the period of March 1, 2019 Page 1 of 4 through February 29, 2019, of 629 Cleveland St., Clearwater, FL 33755 ("the Property"), copies of which is attached hereto as Exhibit A. 3. In order for the Property to be usable for the proposed bar use, certain improvements described in Exhibit B attached hereto, were required to be made. B. PROGRAM FUNDING 1. The grant amount to the Grantee is $9,045.82. 2. The funds shall be provided in the form of a two-year grant with payment disbursed upon execution of this agreement. 3. Grant funds shall be paid for satisfactorily completed Work. Grant funds will be for reimbursed upon evidence of payment submitted to CRA. The Grantee shall submit Contractor invoices to the CRA, in a format acceptable to the CRA, along with evidence of payment for processing and reimbursement. 4. The Project may not be altered, modified, removed or demolished without prior written approval of the CRA. In addition, the business may not be demolished, sold, or otherwise transferred without prior CRA approval. Any of these actions may result in a repayment/reimbursement of the subject funds to the CRA by the Grantee. 5. The Grantee agrees to repay the CRA the grant funds if it fails to perform any of the covenants or agreements contained in the approved Application, or this Agreement (incorporated documents included). CRA may terminate this contract immediately if the Grantee fails to cure a default after written demand of CRA within a period of fifteen (15) days. C. TERM OF AGREEMENT 1. The term of the agreement shall be two years from execution of this agreement, during which time Grantee agrees to operate as a food or drink business at the Property that is open a minimum of Wednesday through Saturdays from 5:00 p.m. until 10:00 p.m. The executed Agreement represents the CRA's approval of the grant to the Grantee. D. DEFAULT BY GRANTEE This grant may be terminated in its entirety or disbursement of grant funds may be withheld for the following, which shall constitute a default under this Agreement: Failure to maintain the improvements, as determined by the CRA in its sole discretion, for a period equal to the term of the grant. E. MISCELLANEOUS PROVISIONS 1. This Agreement provides neither a representation nor assurance that the Project can be developed and carried through to completion by the Grantee at the property herein described. The intent of the Agreement is to provide a mutually agreed upon Page 2 of 4 framework by which the CRA will provide grant funds to the Grantee, provided that all requirements have been and remain satisfied. 2. To the extent permissible by law, the Grantee hereby expressly waives any cause of action they may have arising from or pertaining to the provisions of Florida Statute 520.60, et seq., with respect to the City or the CRA. 3. No member, officer or employee of the City, CRA or its designees or agents, and no other public official of such locality who exercises any functions or responsibilities with respect to this agreement during his tenure or for one year thereafter shall have any interest, direct or indirect, in any contract or subcontract, or the proceeds thereof, for work to be performed in connection with this contract. 4. This Agreement shall be governed by the laws of the State of Florida, and venue shall be in Pinellas County. 5. Should any section or part of any section of this Agreement be rendered void, invalid, or unenforceable by any court of law, for any reason, such a determination shall not render void, invalid, or unenforceable any other section or any part of any section in this Contract. 6. This Agreement is non -assignable by either party and constitutes the entire Agreement between the Grantee and CRA and all prior or contemporaneous oral and written agreements or representations of any nature with reference to the subject of the agreement are canceled and superseded by the provisions of this agreement. IN WITNESS WHEREOF, the Grantee and CRA have executed or caused these presents to be executed by its respective authorized representatives to be effective as of the day and year first above written. This Agreement is executed in two original copies of which one is to be delivered to the Grantee and one to the CRA. Approved as to form: 11 Michael P. Fuino Assistant City Attorney COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA \C(t V$ George N. Cretekos Chairperson By: Attest: Rosemarie Call City Clerk Page 3 of 4 GRANTEE: Vec )Amusem tints C, d/b/a Vector Bar and Arcade By: Jai, l,.c STATE OP'ELORIDA 1 COUNTY OF PINELLAS ] The foregoing instrument was acknowledged before me this i 3 day of , who is personally known to me or who has produced a drivers Iiceri& as identification. My Commission expires: 5 , D,On Notary Public 4PP Notary Public State of Florida Anne J Fogarty France '04,p My Commission GG 207014 a. w Expires 05/24/2022 Page 4 of 4