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REVOCABLE LICENSE AGREEMENTREVOCABLE LICENSE AGREEMENT This Revocable License Agreement (this "Agreement") is entered into by and between the CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation (the "City"), and JEMB POCONO LLC, a Delaware limited liability company ("Licensee" and collectively with the City, the "Parties"). RECITALS WHEREAS, The City is the owner of certain real property located along Beach Walk on Clearwater Beach and more particularly described on Exhibit "A" attached hereto (the "Property"); and WHEREAS, the Property is located adjacent to certain property located at 100 Coronado Drive, Clearwater, FL 33767 on Clearwater Beach owned by Licensee; and WHEREAS, Licensee seeks to develop a portion of the Property to establish an outdoor dining area as depicted on Exhibit "B" attached hereto (the "Amenity Area"); and WHEREAS, The City desires to license the Amenity Area to Licensee for the aforementioned use. NOW THEREFORE, in consideration of the mutual promise and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: Article I. Recitals and License of the Amenity Area 1.1 Recitals. The recitals set forth above are true and correct and are incorporated herein by reference. 1.2 License. The City hereby grants to Licensee, for the purpose of establishing and operating an outdoor dining area, a revocable license (the "License") to enter upon, use, occupy, and exercise control of the Amenity Area and to use all rights of access to the Amenity Area. Licensee shall be permitted to serve food and alcoholic beverages within the Amenity Area so long as such service is connected to and actual food cooking and preparation takes place at Licensee's adjacent hotel restaurant and not in the Amenity Area. Licensee agrees that there shall be no outdoor amplified music in the Amenity Area after 11:00 p.m. until 10:00 a.m. on Sunday through Thursday, or after 12:00 a.m. until 10:00 a.m. on Friday and Saturday. The hours of operation of the Amenity Area shall match the operational hours of the hotel restaurant it is meant to serve. Article II. Appointment of Licensee and Duties 2.1 Engagement of Licensee. The City hereby grants permission for Licensee to use the Amenity Area as provided in Article 1, Section 1.2 and agrees that it will not engage or assign any rights for the operation of the Amenity Area to another person or entity. Page 11 2.2 Duties of Licensee. Licensee, at Licensee's cost, shall take such actions and perform such duties as Licensee deems necessary and desirable for the management and operation of the Amenity Area. 2.3 Payments to the City. For a period of five (5) years following the date of execution of this Agreement (the "Execution Date"), Licensee shall pay to the City a license fee in the amount of One Thousand Dollars and 00/100 Cents ($1,000.00) per month. Beginning in the sixth (6th) year following the Execution Date, the license fee shall increase by three percent (3%) annually and Licensee shall pay to the City such increased license fee monthly. The license fee shall be due and payable on the first day of each month. However, the City may agree to accept payment of the license fee on an annual basis so long as such payment encompasses the entire year's monthly fees. Article III. Rights of City 3.1 Notwithstanding any other provision of this Agreement, the City has the right to enter all portions of the Amenity Area to conduct inspections or exercise any other rights it has under this Agreement. However, the City shall provide reasonable advance notice to Licensee prior to entry upon the Amenity Area and shall use reasonable best efforts to exercise its rights hereunder with minimal interference or disruption to any of Licensee's operations or work conducted under this Agreement. Article IV. Term 4.1 Term. Unless terminated earlier pursuant to the terms and conditions of this Agreement, the initial term of this Agreement shall begin on the Execution Date and shall continue for a period of thirty (30) years from the Execution Date (the "Initial Term"). Provided that Licensee is not then in default, the Agreement will automatically renew for two (2) successive five (5) year periods thereafter (each, a "Renewal Term," and the Initial Term and all Renewal Terms, collectively, the "Term"). 4.2 Early Termination. This Agreement may be terminated early, consistent with the provisions listed below: (a) For Convenience. The City may terminate this Agreement upon ninety (90) days' prior written notice for any reason. However, if such termination is to occur during the first five (5) years of this Agreement, such termination will require a finding of the Clearwater City Council at a duly noticed City Council meeting that the Property is required for a municipal purpose. The City shall provide Licensee no less than thirty (30) calendar days' written notice of a City Council meeting required to terminate this Agreement. Licensee may terminate the Agreement upon six (6) months prior notice to the City for any reason. (b) For Cause. The non -defaulting party may terminate the Agreement upon determination in good faith by the non -defaulting party that there was a material breach of the Agreement that remained uncured following notice and opportunity to cure as provided in Article V, and the termination will be deemed effective immediately, or upon such other date as specified in a notice of termination, provided that termination shall have been approved by the Clearwater Page 12 City Council at a duly noticed City Council meeting following failure to cure such material breach by Licensee, with written notice of such City Council meeting being provided to Licensee no less than fifteen (15) days prior thereto. 4.3 Surrender; Effect of Termination. Upon termination of this Agreement, permission to use the Amenity Area, shall be revoked. Thereafter, Licensee shall promptly vacate and surrender to the City the Amenity Area. In any event, such surrender shall be complete thirty (30) days following effective date of termination. Licensee shall remove any of its assets it determines, in its sole discretion, to retain and make any repairs necessitated by such removal within the period set forth herein. Article V. Default and Remedies 5.1 It shall be a material default for either of the Parties to fail to abide by any term, covenant, or condition of this Agreement. 5.2 Additional Remedies for Material Default. If a material default remains uncured thirty (30) days after written notice thereof to the defaulting party, then in addition to right of termination of this Agreement, the non -defaulting party may pursue any and all legal or equitable remedies to which the non -defaulting party is entitled, including an action for declaratory or injunctive relief. The non -defaulting party will have all other rights granted under this Agreement and all rights at law or in equity that may be available to it. This Article V shall survive the termination of this Agreement. Article VI. Insurance 6.1 Survival; Limitations. The obligations of the Parties under this article shall survive the expiration or termination of this Agreement. Other than as expressly set forth in this Agreement, neither Party shall be liable or responsible for any indirect, incidental, punitive or special damages, whether based upon breach of contract or warranty, negligence, strict tort liability or otherwise, and each Party's liability for damages or losses hereunder shall be strictly limited to direct damages that are actually incurred by the Party. 6.2 Licensee Insurance Requirements. Licensee shall be required to maintain, at its cost, the following policies of insurance with the following limits, maintained with a carrier having an AM Best Rating of A -VII or better, with coverage on an occurrence basis or, if unavailable, on a claims -made basis with a minimum three (3) year tail following termination or expiration of this Agreement, and naming City as an additional insured on the policies. Copies of the insurance policies shall be provided to the City within thirty (30) days of the commencement of the Term and annually thereafter. The insurance limits set forth below may be achieved by a combination of primary and umbrella/excess liability policies. Such policies shall provide thirty (30) days' written notice to the City prior to any cancellation, nonrenewal, termination, material change, or reduction in coverage, and shall be primary and non-contributory for Licensee's negligence. (a) Commercial General Liability Insurance coverage, including but not limited to, premises operations, products/completed operations, products liability, contractual liability, advertising injury, personal injury, death, and property damage in the minimum amount Page 13 of One Million Dollars and 00/100 Cents ($1,000,000.00) per occurrence and Two Million Dollars and 00/100 Cents ($2,000,000.00) general aggregate. (b) Commercial Automobile Liability Insurance coverage for any owned, non - owned, hired or borrowed automobile is required in the minimum amount of One Million Dollars and 00/100 Cents ($1,000,000.00) combined single limit. (c) Professional Liability/Malpractice/Errors or Omissions Insurance coverage appropriate for the type of business engaged in by the Respondent with minimum limits of Two Million Dollars and 00/100 Cents ($2,000,000.00) per occurrence. If a claims -made form of coverage is provided, the retroactive date of coverage shall be no later than the inception date of claims -made coverage, unless the prior policy was extended indefinitely to cover prior acts. Coverage shall be extended beyond the policy year either by a supplemental extended reporting period (SERP) of as great a duration as available, and with no less coverage and with reinstated aggregate limits, or by requiring that any new policy provide a retroactive date no later than the inception date of claims made coverage. (d) Crime and Employee Dishonesty Insurance coverage must include fidelity insurance for reimbursement to an employer for these types of losses. Third -party fidelity coverage is also required to cover the acts of an employee against an employer's clients. Please provide coverage using ISO form CR 00 01 Employee Dishonesty Coverage Form or its equivalent and shall include ISO endorsement CR 04 01 Clients' Property or its equivalent and ISO endorsement CR 20 14 Loss Payable or its equivalent. (e) Workers' Compensation Insurance and Employer's Liability Insurance with Workers' Compensation limits in statutory amount, unless waived by the State of Florida and proof of waiver is provided to the City, and Employer's Liability Insurance in the minimum amount of Five Hundred Thousand Dollars and 00/100 Cents ($500,000.00) each employee each accident, Five Hundred Thousand Dollars and 00/100 Cents ($500,000.00) each employee by disease, and Five Hundred Thousand Dollars and 00/100 Cents ($500,000.00) disease policy limit. Coverage must be applicable to employees, contractors, subcontractors, and volunteers, if any. Article VII. Confidentiality 7.1 Confidentiality. Licensee shall identify any trade secrets in any communications with the City and shall communicate those to the City only as required. The parties acknowledge that the City must comply with the Public Records Law as to any records in the City's possession or control. To the extent that the City receives a request that may be eligible for protection or redaction as a trade secret, the City will promptly notify Licensee of the request. The City Attorney's Office will confer with the Licensee or Licensee's legal counsel, but the Parties recognize that the City must and will ultimately determine whether records in its possession are releasable under Florida law. Page 14 Article VIII. Indemnification 8.1 Indemnification by Licensee. (a) Licensee agrees to assume all risks of the Amenity Area and all liability therefore, and shall defend, indemnify, and hold harmless the City, its officers, agents, and employees from and against any and all loss, liability, and damages of whatever nature, to persons and property, including, without limitation the generality of the foregoing, death of any person and loss of the use of any property. This includes, but is not limited to, matters arising out of or claimed to have been caused by or in any manner related to the Amenity Area or Licensee 's operations or those of any approved or unapproved invitee, contractor, subcontractor or other person approved, authorized, or permitted by Licensee in or about the Amenity Area, including losses, liability, and claims related to air and noise pollution, or any other operations pursuant hereto, whether or not based on negligence. Licensee shall defend all such claims, demands, and suits, whether groundless or not, at Licensee's own cost and expense. Further, Licensee does hereby covenant and agree to indemnify, hold harmless, and defend the City, its officers, agents, and employees, from and against any and all loss, liability and damages arising out of or in any manner related to any breach by Licensee, its agents, employees, invitees, licensees, contractors, subcontractors, whether approved or unapproved, of any of the terms, conditions, or other provisions of this Agreement. (b) Licensee agrees to defend, indemnify, and hold harmless the City, its officers, agents, and employees from and against any and all claims or liability for compensation under any Workers' Compensation statute or law arising out of injuries sustained by any employee of Licensee or any licensee, contractor, subcontractor of Licensee. (c) Licensee's obligation to defend, indemnify, and hold harmless, as set forth in this Article, shall include any and all attomeys' fees and investigative expenses incurred by Licensee in the defense and handling of said suits, claims, damages, and the like, and in enforcing and obtaining compliance with the provisions of this Article. 8.2 Survival; Limitations. The indemnity obligations of the Parties hereunder shall survive the expiration or termination of this Agreement. 8.3 Sovereign Immunity. Nothing herein is intended to serve as a waiver of sovereign immunity by the City nor shall anything included herein be construed as consent by the City to be sued by third parties in any matter arising out of this Agreement. Article IX. Miscellaneous 9.1 Representations and Warranties. (a) The City represents and warrants to the Licensee the following: (i) All required approvals have been obtained, and the City has full legal right, power and authority to enter into and perform its obligations hereunder; Page 15 (ii) This Agreement has been duly executed and delivered by the City and constitutes a valid and binding obligation of the City, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, or similar laws affecting creditors' rights generally or by general equitable principles; (iii) The execution and delivery of this Agreement will not violate or cause a breach (with or without notice or the passage of time) under any agreement, law, ordinance, or other obligation to which the City is bound; (iv) There is no current, pending, or to the City's knowledge after due inquiry, threatened, action or proceeding before any court or administrative agency to which it is a party, questioning the validity of this Agreement, the relationship between the City and Licensee, or which appear likely to materially adversely affect the City's performance of its obligations under this Agreement; (v) The City is the owner of the Property and the Amenity Area; (vi) Upon delivery to Licensee, the Amenity Area shall comply with all laws, ordinances, orders, rules, regulations and other governmental requirements; (b) Licensee represents and warrants to the City the following: (i) All required approvals have been obtained, and Licensee has full legal right, power and authority to enter into and perform its obligations hereunder; (ii) This Agreement has been duly executed and delivered by Licensee and constitutes a valid and binding obligation by Licensee, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally or by general equitable principles; and (iii) There is no current, pending, or to Licensee's knowledge after due inquiry, threatened, action or proceeding before any court or administrative agency to which it is a party, questioning the validity of this Agreement, the relationship between the City and the Licensee, or which appear likely to materially adversely affect Licensee's performance of its obligations under this Agreement. 9.2 Notice. All notices, requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request, demand, claim or other communication hereunder shall be deemed duly given when delivered personally to the recipient on a business day prior to 5:00 P.M. local time, otherwise on the next business day, faxed or emailed to the intended recipient on a business day prior to 5:00 P.M. local time, otherwise on the next business day at the facsimile number or email address set forth therefor below (with electronic confirmation of receipt and hard copy to follow), or one business day after being sent to the recipient by reputable express courier service (charges prepaid) and addressed to the intended recipient as set forth below: Page 16 If to City: With copy to (which shall not constitute notice): City of Clearwater P.O. Box 4748 Clearwater, Florida 33758 Attention: City Manager If to Licensee: Jemb Pocono LLC 150 Broadway, Suite 802 New York, NY 10038-0367 City of Clearwater P.O. Box 4748 Clearwater, Florida 33758 Attention: City Attorney With copy to (which shall not constitute notice): Macfarlane Ferguson & McMullen, P.A. 625 Court Street Clearwater, Florida 33756 Phone: 727-444-1403 Attention: Brian J. Aungst, Esq. 9.3 The Parties agree that this Agreement shall only be construed as a revocable license agreement and does not sell, convey, transfer, or assign any real estate or other interest in the Amenity Area to the Licensee. Should any provision of this Agreement be declared by a court of competent jurisdiction to be inconsistent with the Parties intent for this Agreement to be a revocable license agreement, such provision shall be modified or stricken from this Agreement and shall not affect the validity of this Agreement as a whole, or any part thereof other than the part declared to be inconsistent. 9.4 Order of Precedence. In the event of any conflict between this Agreement and any exhibits, the provisions of this Agreement shall prevail. 9.5 Entire Agreement. This Agreement, the exhibits, and any documents executed in connection with this Agreement, constitute and express the entire agreement of the Parties hereto and no agreements, warranties, representations or covenants not herein expressed shall be binding upon the parties. 9.6 Captions. Captions appearing before sections and articles in this Agreement have been inserted solely for the purposes of convenience and ready reference. They do not purport to, and shall not be deemed to, define, limit or extend the scope or intent of the section or articles to which they pertain. 9.7 No Partnership or Joint Venture. Nothing herein contained is intended or shall be construed in any way to create or establish the relationship of partners or a joint venture between the City and Licensee. 9.8 Good Faith. It is agreed that both Parties shall perform their respective duties under the terms of this Agreement in good faith. Page 17 9.9 Incorporation of Terms and Conditions. The terms and conditions set forth in Exhibit "C" are incorporated into this Agreement. [Signature Pages to Follow] [Rest of Page Intentionally Left Blank] Page 18 IN WITNESS WHERE , this Agreement has been executed by the Parties and is executed as of the 'relay of k.aA' 2026. (CITY SIGNATURE PAGE) Approved as to form: Matthew J. Mytych, ' sq. Assistant City Attorney Date: i7z7JC CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation. By: JennifeYPoMier City Manager Date: g/%/ a b Attest: Rosemarie Call City Clerk Date: 0 { 7'UA(p Page 18 (l I( I'\sit SI(i\,\ 11 RI. 1' \( JE) IP.\ II1 PoCONI t it) I.I.C. a 1)cla‘varc limited liability c. 11): Name: 5 -.N. r-•D0.*;.e.+3 fide: A)r,0- 6f 101'4IS� Dani:: 7/31/26 SI.\1EOFFLORIDA 1 COUNTY OF KNELT AS ) the forceoing instrument was acknowledged before mc by means Vphysical presence pr 0 online notarivation, this31*dav of I'M , 2026 by 5d YWaLfrue(c„ as of 3 who t1islare personally known to me or o who has/have produced a driver's license as identification. (NOTARIAL SEAL) X20 1/30/2030 ,i N Tammy Cordaro Q Sy Commission Q= $0, FIN 761365 �� i Notary Public, &tate of Florida Name ofNotarv: rd (T%L My Commission Expires: My Commission No.: Pagei9 Scanned with CamScanner Exhibit "A" Property Legal Description A parcel of land being a portion of GULF VIEW BOULEVARD Right-of-Way according to LLOYD-WHITE-SKINNER SUBDIVISION, as recorded in Plat Book 13, Page 12 of the Public Records of Pinellas County, Florida, together with a portion of SOUTH GULF VIEW BOULEVARD Right-of-Way, according to CITY PARK SUBDIVISION, as recorded in Plat Book 23, Page 37 of the Public Records of Pinellas County, Florida, lying within Section 7, Township 29 South, Range 15 East, Pinellas County, Florida, being more particularly described as follows: COMMENCE at the Southwest corner of Lot 55, LLOYD-WHITE-SKINNER SUBDIVISION, as recorded in Plat Book 13, Page 12 of the Public Records of Pinellas County, Florida; thence N06°06'39"E, along the West line of said Lot 55 (being the basis of bearings for this legal description), for 20.00 feet; thence leaving said West line of Lot 55, N83°53'21"W, for 35.00 feet to the point of intersection with the centerline of GULF VIEW BOULEVARD according to said LLOYD-WHITE-SKINNER SUBDIVISION, same being the point of intersection with the West line of vacated GULF VIEW BOULEVARD, according to Official Records Book 17488, page 1094, same also being the point of intersection with the East line of that certain Non-Exclusive Perpetual Easement, as described in Official Records Book 19511, Page 2407, both of the Public Records of Pinellas County, Florida, same also being the POINT OF BEGINNING; thence the following seven (7) courses along said East line and the North line, respectively, of said Non- Exclusive, Perpetual Easement; (1) thence N06°06'39"E, along said West line of vacated GULF VIEW BOULEVARD and the Northerly extension of said West line of vacated GULF VIEW BOULEVARD, respectively, for 471.39 feet; (2) thence N49°05'46"E, for 21.57 feet; (3) thence S89°25'51"E, for 0.77 feet; (4) thence N38°39'45"W, for 4.39 feet; (5) thence S48°24'02"W, for 22.19 feet; (6) thence N41°35'58"W, for 1.40 feet; (7) thence S44°31' 14"W, for 31.10 feet to the Northwest corner of said Non-Exclusive, Perpetual Easement; thence S80°46' 15"W, for 12.54 feet to the point of intersection with the West Right-of-Way line of said GULF VIEW BOULEVARD, according to said LLOYD-WHITE-SKINNER SUBDIVISION; thence S06°06'39"W, along said West Right-of-Way line of GULF VIEW BOULEVARD, 18.84 feet; thence leaving said West Right-of-Way line of GULF VIEW BOULEVARD, S39°28'20"W, for 71.99 feet; thence S56°14'10"E, for26.54 feet; thence S70°07'23"E, for 10.95 feet; thence S78°11'22"E,.for 17.97 feet to the point of intersection with the West line of said Non-Exclusive, Perpetual Easement; thence the following eight (8) courses along said West line and the South line of said Perpetual Easement; (1) thence S06°06'42"W, for 14.89 feet; (2) thence S83°53'21"E, for 2.56 feet; (3) thence S06°06'39"W, for 178.89 feet; (4) thence N83°53'18"W, for 2.32 feet; (5) thence S06°06'42"W, for 17.98 feet; (6) thence S83°53' 18"E, for 2.32 feet; (7) thence S06°06'39"W, for 139.75 feet; (8) thence S83°53'21"E, for 20.00 feet to the POINT OF BEGINNING. Containing 12,510 square feet or 0.287 acres, more or less. Exhibit "B" Amenity Area GULF BLVD BOUNDARY OF LICENSING AREA EXISTING SIDEWALK MOLISH MS LEVEL LANDSCAPING AND N LEVEL GRADE AS DESHOWN ON CR DEMOLISH EXISTING CONCRETE WALL FOR LANDSCAPE f ihiliil i,i;, \(),«01•;RC1O\1•:012'I:r\BOROIttil121I(i1'. \III' l':•\`I:1O, yunuan1 to $cciion .'ih`t I3)IS.iIns0;1mlmust Fe:unip!et,d i)t;u ni ulii�er r roprri:•_itr:e,�i t ._ ... :noiigotumueni:del3un ttheii�:q �onlratt i�;ctceulal: ranutul;in: eslaiultd (,cl+recn iliti n,.niL.•,crrimnl.i!. emits..anda•_,w riuitenril.nlu''. t11i\'113 P2)E:(?\()'IU (: dies 1101 trze cncrei,in li,r 1 ib iron :erVite• ‘le (inert •;elw m. `ti' iv,. p. I nd* r retia!tc of perjury.] declare ilial 1.11A a renU•thc II>.re@ping <t;nmtent,atid.tli 11 the l:itt, :cacti in hair: ezrue -- -„ 1'rnasi\aiaz "^9=ea`w.'i(acsj'm•:::C��i- Iilk: *SeASI „Q.co u: