LANDLORDS ACKNOWLEDGEMENT OF TENANTS EXERCISE OF LEASE RENEWAL OPTIONONE CLEARWATER TOWER
600 Cleveland Street, Clearwater, FL 33755
Landlord's Acknowledgement of Tenant's Exercise of Lease Renewal Option
February 13, 2023
Ms. Jennifer Poirrier
Interim City Manager
City of Clearwater
P.O. Box 4748
Clearwater, Florida 33758-4748
Via USPS and E Mail to: Jennifer.Poirrier@MyClearwater.com
Ref.: Lease Agreement dated August 10, 2018, between 600 Cleveland Street, LLC ("Landlord"),
and City of Clearwater, Florida, a Florida Municipal Corporation, ("Tenant") for Suites 600
Cleveland Street, Clearwater, Florida. Capitalized terms used herein but not defined shall be
given the meanings assigned to them in the Lease.
Dear Ms. Poirrer:
The purpose of this letter is to acknowledge receipt of your email dated February 9th, 2023,
regarding the City of Clearwater's desire to exercise it's renewal option as provided for in the
Lease Agreement, a copy of which is attached along with the Commencement Date Certificate.
The current term which expires at midnight on January 31, 2024, shall be extended for 60
months unless sooner terminated pursuant to the terms of the lease.
1. Expiration Date. The Term as extended is scheduled to expire on the last day of the
120th full calendar month of the Renewal Term following the Rent Commencement
Date which date is January 31st, 2029.
2. Contact Person: Tenant's contact person in the Premises is:
Paty DeMilo
Executi'.& twistant
City Ma '; =r's Office
City of ,::,.,r.rwater
P.O. Box 4748
Clearwater, Florida 33758-4748
727 562 4085
Patricia.Demilo@myclearwater.com
3. The Landlord and Tenant acknowledge that the Landlord is holding a Security Deposit
as provided for in Paragraph 40 of the Lease in the amount of: $ 0.00.
Jacob Real Estate Services, Inc.1 607 West Bay Street 1 Tampa, Florida 33606
Ms. Jennifer Poirrier
February 13, 2023
Page Two
4. A Schedule of Rents is attached here at Exhibit A taken from Addendum # I to the One
Clearwater Tower — Bank of America Building Standard Lease Agreement, which reflects
the rents due and payable during the extended term of the Lease.
5. Ratification. Tenant hereby ratifies and confirms its obligations under the Lease, and
represents and warrants to Landlord that it has no defenses thereto to date.
Additionally, Tenant further confirms and ratifies that, as of the date hereof, (a) the
Lease is and remains in good standing and in full force and effect, and (b) Tenant has
no claims, counterclaims, set -offs or defenses against Landlord arising out of the Lease
or in any way relating thereto or arising out of any other transaction between Landlord
and Tenant.
6. Binding Effect: Governing Law. Except as modified hereby, the Lease shall remain in full
effect and this letter shall be binding upon Landlord and Tenant and their respective
successors and assigns. If any inconsistency exists or arises between the terms of this
letter and the terms of the Lease, the terms of this letter shall prevail. This letter shall
be governed by the laws of the state in which the Premises are located.
Sincerely yours,
ONE CLEARWATER TOWER
to Services, Inc.
Property Manager & Agent for
600 Cleveland, LLC
Enclosures: (1) Lease Agreement
(2) Commencement Date Certificate
Acknowledged:
ifer Poirrier
Interim City Manager
City of Clearwater
Date Signed:
cc: Patricia.Demilo@myclearwater.com
Jacob Real Estate Services, Inc. 1 607 West Bay Street 1 Tampa, Florida 33606
EXHIBFr "A"
RENEWAL TERM RENT SCHEDULE
For the extended term of the Lease Agreement dated August 10, 2018, between 600 Cleveland
Street, LLC ("Landlord"), and City of Clearwater, Florida, a Florida Municipal Corporation, ("Tenant")
for Suites 600 Cleveland Street, Clearwater, Florida.
PER BEGIN MONTHS PSFPY Monthly Period
1 2/1/2024 12 $19.90 $21,598.13 $259,177.60
2 2/1/2025 12 $20.50 $22,249.33 $266,992.00
3 2/1/2026 12 $21.11 $22,911.38 $274,936.64
4 2/1/2027 12 $21.74 $23,595.14 $283,141.76
5 2/1/2028 12 $22.40 $24,311.46 $291,737.60