R18-0371
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RESOLUTION NO. R18-037
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, APPROVING AND AUTHORIZING THE CITY
MANAGER TO SIGN LETTERS OF INTENT FOR THREE
TEMPORARY LEASE SPACES TO ALLOW STAFF TO
NEGOTIATE A FINAL LEASE WHICH WILL BE BROUGHT
BACK BEFORE THE COMMISSION FOR REVIEW AND
APPROVAL; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the proposed schedule of construction for Boynton Beach Town Square
includes removing the public structures housing city hall, police and library staff, and
WHEREAS, the City will need temporary space to operate from to ensure
uninterrupted City services; and
WHEREAS, staff, through E2L Real Estate Solutions identified three available
buildings and is requesting approval to sign Letters of Intent which will allow the City and
the Lessor to develop lease documents for consideration by the City Commission when the
Commission considers approval of Phase II of the Boynton Beach Town Square; and
WHEREAS, the City Commission of the City of Boynton Beach, Florida, upon the
recommendation of staff, deems it to be in the best interests of the City residents to approve
and authorize the City Manager to sign Letters of Intent for three temporary lease spaces to
allow staff to negotiate a final lease which will be brought before the City Commission for
review and approval.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
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Files\Content.IE5\52FYTEOE\LOI_for_temporary_lease_space_-_Reso.doc
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Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
being true and correct and are hereby made a specific part of this Resolution upon adoption
hereof.
Section 2. The City Commission hereby approves and authorizes the City
Manager to sign Letters of Intent for three temporary lease spaces to allow staff to negotiate
a final lease which will be brought before the City Commission for review and approval,
copies of the Letters of Intent are attached hereto as Composite Exhibit "A."
Section 3. This Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this 6th day of March, 2018.
CITY OF BOYNTON BEACH, FLORIDA
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5 1 ATTEST:
571
Judith A. Pyle, CMC
City Clerk
(City Seal)
Mayor — Steven B. Grant
Vice Mayor — Justin Katz
Commissioner — Mack McCray
Commissioner — Christina L. Romelus
Commissioner — Joe Casello
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Files\Content.IE5\VAGZE6P0\LOI_for_temporary_lease_space_-_Reso. doc
VOTE
YES NO
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RESOLUTION NO. RIS -037
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, APPROVING AND AUTHORIZING THE CITY
MANAGER TO SIGN LETTERS OF INTENT FOR THREE
TEMPORARY LEASE SPACES TO ALLOW STAFF TO
NEGOTIATE A FINAL LEASE WHICH WILL BE BROUGHT
BACK BEFORE THE COMMISSION FOR REVIEW AND
APPROVAL; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the proposed schedule of construction for Boynton Beach Town Square
includes removing the public structures housing city hall, police and library staff, and
WHEREAS, the City will need temporary space to operate from to ensure
uninterrupted City services; and
WHEREAS, staff, through E21, Real Estate Solutions identified three available
buildings and is requesting approval to sign Letters of Intent which will allow the City and
the Lessor to develop lease documents for consideration by the City Commission when the
Commission considers approval of Phase II of the Boynton Beach Town Square; and
WHEREAS, the City Commission of the City of Boynton Beach, Florida, upon the
recommendation of staff, deems it to be in the best interests of the City residents to approve
and authorize the City Manager to sign Letters of Intent for three temporary lease spaces to
allow staff to negotiate a final lease which will be brought before the City Commission for
review and approval.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
27� � THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
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Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
being true and correct and are hereby made a specific part of this Resolution upon adoption
hereof.
Section 2. The City Commission hereby approves and authorizes the City
Manager to sign Letters of Intent for three temporary lease spaces to allow staff to negotiate
a final lease which will be brought before the City Commission for review and approval,
copies of the Letters of Intent are attached hereto as Composite Exhibit "A."
Section 3. This Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this 6th day of March, 2018.
CITY OF BOYNTON BEACH, FLORIDA
Mayor — Steven B. Grant
Vice Mayor — Justin Katz
Commissioner — Mack McCray
Commissioner — Christina L. Romelus
Commissioner — Joe Casello
ATTEST:
Judith" A. Pyle, CMC
City;'Clerk
(City Seal)
C:\Users\StanzioneT\AppData\Local\Microsoft\Windows\Temporary Internet
Files\Content.IE5\VAGZE6PO\LOI_for_temporary_I ease space_-_Reso. doc
VOTE
YES NO
Intelligent 1875 N.W. Corporate Boulevard
Real Estate Suite 280
Solutions Boca Raton, FL 33431
avisonyoung.com
February 27, 2018
Gary Roskin
Vice President
Phoenix Realty Services, Inc.
941A Clint Moore Road
Boca Raton, FL 33487
Re: Letter of Intent — 3602 — 3606 Quantum Blvd, Boynton Beach, FL 33426
Dear Gary:
On behalf of the City of Boynton Beach, we have been authorized to submit the following response to your
email outlining terms dated February 15, 2018.
PREMISES: 3602 — 3606 Quantum Boulevard
Boynton Beach, Florida 33426
SUBTENANT:
City of Boynton Beach
TENANT:
World Wide Ticket
LANDLORD:
Duke PGC at Quantum 1-9, LLC
SQUARE FEET:
Approximately 27,300 RSF of warehouse/office space.
LEASE COMMENCEMENT:
April 1, 2018
LEASE END:
August 31, 2020
GROSS MONTHLY RENT:
July 1, 2018 August 31, 2018 $24,501.75
September 1, 2018 August 31, 2019 $24,965.63
September 1, 2019 August 31, 2020 $25,453.37
Intelligent
Real Estate
Solutions
SECURITY DEPOSIT Subtenant will replace Tenants Existing Security Deposit currently on
deposit with the Landlord.
RIGHT TO AUDIT: Within one hundred eighty (180) days after receipt of Landlord's statement
of Operating Expenses, Subtenant shall have the right to audit such
statement and hire an independent consultant on either a fee or
contingency basis to review on behalf of Subtenant and to dispute any
item or items that may be improperly included in the determination of the
Landlord's cost for such given year and shall be reimbursed by Landlord for
the costs of the audit if Operating Expenses are overstated by more than
three percent (3%).
EARLY OCCUPANCY AND
ACCESS: Subtenant shall have the right to enter the Premises from and after the
mutual execution of this Sublease to install furniture, fixtures and
equipment and otherwise prepare the Premises for occupancy (collectively,
the "Early Entry Activities") provided that such entry and installation work
does not interfere with Tenant's vacating of the space. If Subtenant enters
into possession of the Premises prior to the Commencement Date (or
permits its contractors to enter the Premises prior to the Commencement
Date) for the sole purposes of performing the Early Entry Activities, such
early occupancy shall not affect the Commencement Date or incur any
additional rental obligations.
PARKING: Subtenant requires 2 per 1,000 RSF surface parking for the exclusive use of
the Subtenant and its visitors at no charge throughout the Sublease Term
and renewals or extensions, in close proximity to the Premises. Please
illustrate the location of the parking spaces.
SIGNAGE: Subtenant may place its name and logo on the building. Landlord shall
place Subtenant's name in the building's lobby directory board.
BUILDING SYSTEMS / HVAC: All Building Systems and HVAC shall be delivered in "Good Working'
condition at Occupancy.
INTERNET PROVIDERS: Please confirm that fiber is available to the Building. Also, note what
Internet Providers service the Building.
Intelligent
Real Estate
Solutions
REMOVAL OF LEASEHOLD
IMPROVEMENTS:
AGENCY DISCLOSURE:
TIME OF ACCEPTANCE
The Subtenant shall not be obligated, financially or otherwise, to remove
or to restore its leasehold improvements at the expiration of the Term,
whether installed by the Subtenant or the Landlord on behalf of the
Subtenant. The Subtenant may remove signage, trade fixtures and
furniture at the termination of the Sublease and shall not be required to
restore the Premises to their original condition (even if such improvements
were installed by the Subtenant or the Landlord on behalf of the
Subtenant).
Pursuant to Florida Statutes, Ch. 475 regarding brokerage disclosure, Gary
Roskin of Phoenix Realty Services, Inc. is representing the Tenant and Keith
O'Donnell of Avison Young, Inc. represents the Subtenant. Phoenix Realty
Services, Inc. represents the Tenant by exclusive agreement. A real estate
commission equal to 6% of the aggregate gross lease consideration is to be
paid by the Tenant, split equally between representing brokers, 50% paid
upon execution of Sublease Agreement and 50% paid upon the Sublease
Rent Commencement Date.
The terms of this proposal are open for acceptance for a period of fourteen
(14) days and are always subject to prior leasing.
Intelligent
Real Estate
Solutions
This letter/proposal is intended solely as a preliminary expression of general intentions and is to be used
for discussion purposes only. The parties intend that neither shall have any contractual obligations to
the other with respect to the matters referred herein unless and until a definitive agreement has been
fully executed and delivered by the parties. The parties agree that this letter/proposal is not intended to
create any agreement or obligation by either party to negotiate a definitive lease/purchase and sale
agreement and imposes no duty whatsoever on either party to continue negotiations, including without
limitation any obligation to negotiate in good faith or in any way other than at arm's length. Prior to
delivery of a definitive executed agreement, and without any liability to the other party, either party
may (1) propose different terms from those summarized herein, (2) enter into negotiations with other
parties and/or (3) unilaterally terminate all negotiations with the other party hereto.
Sincerely,
Keith O'Donnell
Principal
Avison Young
AGREED & ACCEPTED
City of Boynton Beach
APPROVED' S,TO FOOM:
V CITY ATTORNEY
AGREED & ACCEPTED
Weldon, Williams & Lick, Inc owner of
Worldwide Ticket & Label, Inc.
Title
1875 N.W. Corporate BoulevIntelligentSuite 280Real EstateBoca Raton. FL 33431Solutions
Kirk Nelson
First Vice President
CBRE, Inc.
5100 Town Center Circle, Suite 600
Boca Raton, FL 33486
Re: Final Letter of Intent — 2045 High Ridge Road, Boynton Beach, FL
Dear Kirk:
On behalf of the City of Boynton Beach, we have been authorized to submit the following response to your
proposal dated February 7, 2018.
PREMISES: 2045 High Ridge Road
Boynton Beach, Florida 33426
SUBTENANT: City of Boynton Beach
TENANT: Fantasy Chocolates, Inc.
LANDLORD: Duke PGC at Quantum 1-9, LLC
SQUARE FEET: Approximately 30,000 RSF of warehouse/office space.
LEASE COMMENCEMENT: June 1, 2018
LEASE END: February 3, 2020
BASE RENT: $6.50 RSF
ANNUAL ESCALATIONS: None
CONCESSIONS: Subtenant shall have the last two (2) months of occupancy at no charge.
OK
OPERATING EXPENSES: In addition to the Base Rental rate, Tenant shall pay its pro -rata share of all
customary and reasonable costs and expenses for operating, repairing and
maintaining the Property and Building now estimated at $3.89 per square
foot for 2018. The operating expenses include Real Estate Taxes,
Insurance, Common Area Maintenance, Repairing and other miscellaneous
charges. Trash and interior electric are to be the responsibility of the
Tenant.
TO AUDIT: Subtenant will have the rights detailed in the Master Lease
DELIVERY OF SPACE: The space will be delivered in "as is" condition. Subtenant will be
permitted to make any additional tenant improvements subject to Tenant
and Landlord's review. Any improvements are to be at the expense of the
Subtenant.
EARLY OCCUPANCY AND
ACCESS:
Subtenant shall have the right to enter the Premises from and after the
mutual execution of this Sublease to install furniture, fixtures and
equipment and otherwise prepare the Premises for occupancy (collectively,
the "Early Entry Activities") provided that such entry and installation work
does not interfere with Tenants vacating the space. If Subtenant enters
into possession of the Premises prior to the Commencement Date (or
permits its contractors to enter the Premises prior to the Commencement
Date) for the sole purposes of performing the Early Entry Activities, such
early occupancy shall not affect the Commencement Date or incur any
additional rental obligations. OK
Deposit:
One (1) month
PARKING:
Parking is detailed in the Master Lease. Parking is non-exclusive at the
subject property.
SIGNAGE:
Subtenant may place its name and logo on the building. Ok, subject to
Landlord and municipal restrictions and approval
BUILDING SYSTEMS / HVAC:
All Building Systems and HVAC shall be delivered in "Good Working"
condition at Occupancy.
INTERNET PROVIDERS:
Current Tenant previously had AT&T Fiber but it is the Subtenant's
responsibility to confirm availability and providers.
REMOVAL OF LEASEHOLD
The facility will be returned in the condition it was turned over to the
IMPROVEMENTS:
Subtenant at the expense of the Subtenant
AGENCY DISCLOSURE:
Pursuant to Florida Statutes, Ch. 475 regarding brokerage disclosure, Kirk
Nelson of CBRE Inc. is representing the Tenant and Keith O'Donnell of
Avison Young, Inc. represents the Subtenant. CBRE Inc. represents the
Tenant by exclusive agreement. A real estate commission equal to 6% of
the aggregate gross lease consideration is to be paid by the Tenant, split
equally between representing brokers, 50% paid upon execution of
Sublease Agreement and 50% paid upon the Sublease Rent
Commencement Date.
TIME OF ACCEPTANCE: The terms of this proposal are open for acceptance for a period of fourteen
(14) days and are always subject to prior leasing.
This letter/proposal is intended solely as a preliminary expression of general intentions and is to be used
for discussion purposes only. The parties intend that neither shall have any contractual obligations to the
other with respect to the matters referred herein unless and until a definitive agreement has been fully
executed and delivered by the parties. The parties agree that this letter/proposal is not intended to create
any agreement or obligation by either party to negotiate a definitive lease/purchase and sale agreement
and imposes no duty whatsoever on either party to continue negotiations, including without limitation
any obligation to negotiate in good faith or in any way other than at arm's length. Prior to delivery of a
definitive executed agreement, and without any liability to the other party, either party may (1) propose
different terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.
Sincerely;
Keith O'Donnell
Principal
Avison Young
AGREED & ACCEPTED
J`T
City f fioyntonBeach
AGREED & ACCEPTED
F qntasy Chocolates, Inc.
Intelligent 1875 N.W. Corporate Boulevard
Real Estate Suite 280
Solutions Boca Raton, FL 33431
avisonyoung.com
February 27, 2018
Gordon Messinger
Managing Director
Cushman & Wakefield
333 SE 216 Ave., Suite 3900
Miami, FL 33131
Re: Letter of Intent — 3301 Quantum Blvd., Boynton Beach, FL
Dear Gordon:
BEST
MANAGED
COMPANIES
On behalf of the City of Boynton Beach, we have been authorized to submit the following response to your
proposal dated December 4, 2017.
PROPERTY: 3301 Quantum Blvd,
Boynton Beach, Florida 33426
LANDLORD: FH Quantum, LLC
TENANT: City of Boynton Beach
PREMISES: Ground Floor - Estimated to be +/- 23,000 RSF
LEASE COMMENCEMENT Ninety (90) Days from lease execution which shall be no later than July 1,
DATE: 2018.
EARLY OCCUPANCY AND
ACCESS: Tenant shall have the right to enter the Premises from and after the
mutual execution of this Lease to install furniture, fixtures and equipment
and otherwise prepare the Premises for occupancy (collectively, the "Early
Entry Activities") provided that such entry and installation work does not
interfere with Landlord's completion of Landlord's Work. If Tenant enters
into possession of the Premises prior to the Commencement Date (or
permits its contractors to enter the Premises prior to the Commencement
Date) for the sole purposes of performing the Early Entry Activities, such
early occupancy shall not affect the Commencement Date or incur any
additional rental obligations.
LEASE TERM: 24 Months from Lease Commencement
BASE RENTAL RATE: $16.00 PSF Triple Net
Tenant shall be responsible for janitorial and electric within the Premises.
Intelligent
Real Estate
Solutions
OPERATING EXPENSES: In addition to the Base Rental Rate, Tenant shall pay its prorata share of
operating expenses, insurance and real estate taxes ("Operating
Expenses") which are estimated to be $6.00 per rentable square foot.
RIGHT TO AUDIT: Within one hundred eighty (180) days after receipt of Landlord's statement
of Operating Expenses, Tenant shall have the right to audit such statement
and hire an independent consultant on either a fee or contingency basis to
review on behalf of Tenant and to dispute any item or items that may be
improperly included in the determination of the Landlord's cost for such
given year and shall be reimbursed by Landlord for the costs of the audit if
Operating Expenses are overstated by more than five percent (5%).
PREPAID RENT: Upon lease execution, Tenant shall pay the Landlord an amount equal to
one (1) month's rental payment, which amount shall be applied toward the
first month's rental obligation.
SECURITY DEPOSIT: N/A
PARKING: Landlord shall provide unreserved parking spaces equaling 4 per 1,000 RSF
in the surface parking lot surrounding the Property for the exclusive use of
the Tenant and its visitors at no charge throughout the Initial Lease Term
and renewals or extensions. Within the 4 per 1000 RSF parking Landlord
will provide Tenant with a mutually agreed upon amount of reserved
parking in a mutually agreed upon location parking for the general public.
SIGNAGE: Tenant may place its name and logo on the building. Landlord shall place
Tenant's name in the building's lobby directory board.
LANDLORD'S WORK: Landlord shall show evidence of roof repair satisfactory to guarantee
Tenants safe and healthy occupancy. HVAC units shall be delivered in good
working condition.
In addition to Landlord's Work, Landlord shall provide a cash allowance of
$2.00 per RSF to Tenant with the only restriction that it cannot be applied
towards free rent.
SPACE PLANNING /
ARCHITECTURAL SERVICES: Landlord agrees to pay for Tenant's architect to prepare a test fit or review
of the premises which shall be deducted from the cash allowance of $2.00
per RSF to the Tenant.
Intelligent
Real Estate
Solutions
RENEWAL OPTION
BUILDING SYSTEMS / HVAC:
Two 6 -month options with 3% annual increases. The 1St option shall be
with twelve (12) months written notice to Landlord. The 211 option shall be
with three (3) months written notice to Landlord.
All Building Systems and HVAC shall be delivered in "Good Working"
condition at Occupancy and, furthermore, Landlord shall warrant same
throughout the term of the Lease and any extensions, at Landlord's cost.
Landlord agrees that it shall provide Tenant with electricity for lighting and
operation of typical office equipment, heat and air-conditioning for
reasonable work conditions and any other services provided under their
terms of the Lease during Business Hours, at no additional charge.
The Building shall be open from 8:00 am to 6:00 pm Monday through
Friday and 8:00 am to 1:00 pm Saturday, exclusive of holidays. Tenant shall
have access to the Premises 24 hours per day, 7 days per week. The
Building is not currently separately metered and the HVAC is included in
the CAM. Landlord will provide the hourly cost for the overtime HVAC at a
set dollar amount of $35.00 per hour. However Landlord will work with
the Tenant to provide separately metered electric and HVAC controls if
feasible.
BUILDING SECURITY SYSTEM: There is currently key fab system to enter the Tenant's space. The City of
Boynton Beach can work with ownership install their own system. With
respect to Life Safety, the Building has fire sprinklers, emergency lighting,
illuminated exit signs, strobe light alarms, fire pull boxes and fire
extinguishers.
INTERNET PROVIDERS: Please confirm that fiber is available to the Building. Also, note what
Internet Providers service the Building. AT&T Fiber
LANDLORD ACCESS TO
PREMISES: Landlord shall have access to the Premises twelve (12) months prior to
lease expiration for the purposes of marketing the Premises to future
tenants.
REMOVAL OF LEASEHOLD Upon expiration Tenant shall surrender the Premises in the same condition
IMPROVEMENTS: as originally occupied (including the initial tenant improvements), less
normal wear and tear and the removal of its furniture, fixtures and
equipment along with any interior and exterior signage.
Intelligent
Real Estate
Solutions
BROKERAGE: Tenant and Landlord acknowledge that neither has dealt with any real
estate broker or agent in connection with the property other than Avison
Young, which represents the Tenant, and Cushman & Wakefield of Florida,
LLC, which represents the Landlord.
This proposal is not intended nor shall it be deemed or interpreted to legally bind either party. Rather,
this letter constitutes the agreement of Tenant and Landlord, subject to the termination rights set forth,
to conduct further negotiations concerning a written lease agreement or amendment between Tenant
and Landlord.
No binding obligations of Tenant or Landlord shall arise unless and until such time as a binding lease
agreement or amendment is negotiated and executed by all parties. Furthermore, Tenant and Landlord
are free to negotiate with other parties simultaneously or at any other time. Tenant and Landlord agree
to negotiate in good faith. Either Tenant or Landlord may for any reason and without cause, terminate
negotiations or this letter at any time by serving written or verba! notice of such termination to the other
party. Neither party may claim any legal rights or damages against the other by reason of submission of
this request for proposal or by either party taking any action in reliance thereon.
Sincerely,
Keith O'Donnell
Principal
Avison Young
AGREED & ACCEPTED AGREED & ACCEPTED
�, re
City of Boynton Beach FH Quantum, LLC
APPROVED FO{:
CITY ATTORNEY
Intelligent
Real Estate
Solutions
February 27, 2018
Gordon Messinger
Managing Director
Cushman & Wakefield
333 SE 2"6 Ave., Suite 3900
Miami, FL 33131
Re: Letter of Intent — 3301 Quantum Blvd., Boynton Beach, FL
Dear Gordon:
1875 N.W. Corporate Boulevard
Suite 280
Boca Raton, FL 33431
avisonyoung.com
BEST
MANAGED
COMPANIES
On behalf of the City of Boynton Beach, we have been authorized to submit the following response to your
proposal dated December 4, 2017.
PROPERTY: 3301 Quantum Blvd.
Boynton Beach, Florida 33426
LANDLORD: FH Quantum, LLC
TENANT: City of Boynton Beach
PREMISES: Ground Floor - Estimated to be +/- 23,000 RSF
LEASE COMMENCEMENT Ninety (90) Days from lease execution which shall be no later than July 1,
DATE: 2018.
EARLY OCCUPANCY AND
ACCESS: Tenant shall have the right to enter the Premises from and after the
mutual execution of this Lease to install furniture, fixtures and equipment
and otherwise prepare the Premises for occupancy (collectively, the "Early
Entry Activities") provided that such entry and installation work does not
interfere with Landlord's completion of Landlord's Work. If Tenant enters
into possession of the Premises prior to the Commencement Date (or
permits its contractors to enter the Premises prior to the Commencement
Date) for the sole purposes of performing the Early Entry Activities, such
early occupancy shall not affect the Commencement Date or incur any
additional rental obligations.
LEASE TERM: 24 Months from Lease Commencement
BASE RENTAL RATE: $16.00 PSF Triple Net
Tenant shall be responsible for janitorial and electric within the Premises.
Intelligent
Real Estate
Solutions
OPERATING EXPENSES: In addition to the Base Rental Rate, Tenant shall pay its prorata share of
operating expenses, insurance and real estate taxes ("Operating
Expenses") which are estimated to be $6.00 per rentable square foot.
RIGHT TO AUDIT: Within one hundred eighty (180) days after receipt of Landlord's statement
of Operating Expenses, Tenant shall have the right to audit such statement
and hire an independent consultant on either a fee or contingency basis to
review on behalf of Tenant and to dispute any item or items that may be
improperly included in the determination of the Landlord's cost for such
given year and shall be reimbursed by Landlord for the costs of the audit if
Operating Expenses are overstated by more than five percent (5%).
PREPAID RENT: Upon lease execution, Tenant shall pay the Landlord an amount equal to
one (1) month's rental payment, which amount shall be applied toward the
first month's rental obligation..
SECURITY DEPOSIT: N/A
PARKING: Landlord shall provide unreserved parking spaces equaling 4 per 1,000 RSF
in the surface parking lot surrounding the Property for the exclusive use of
the Tenant and its visitors at no charge throughout the Initial Lease Term
and renewals or extensions. Within the 4 per 1000 RSF parking Landlord
will provide Tenant with a mutually agreed upon amount of reserved
parking in a mutually agreed upon location parking for the general public.
SIGNAGE: Tenant may place its name and logo on the building. Landlord shall place
Tenant's name in the building's lobby directory board.
LANDLORD'S WORK: Landlord shall show evidence of roof repair satisfactory to guarantee
Tenants safe and healthy occupancy. HVAC units shall be delivered in good
working condition.
In addition to Landlord's Work, Landlord shall provide a cash allowance of
$2.00 per RSF to Tenant with the only restriction that it cannot be applied
towards free rent.
SPACE PLANNING /
ARCHITECTURAL SERVICES: Landlord agrees to pay for Tenant's architect to prepare a test fit or review
of the premises which shall be deducted from the cash allowance of $2.00
per RSF to the Tenant.
Intelligent
Real Estate
Solutions
RENEWAL OPTION:
BUILDING SYSTEMS/ HVAC:
Two 6 -month options with 3% annual increases. The 1s' option shall be
with twelve (12) months written notice to Landlord. The 2 r option shall be
with three (3) months written notice to Landlord.
All Building Systems and HVAC shall be delivered in "Good Working"
condition at Occupancy and, furthermore, Landlord shall warrant same
throughout the term of the Lease and any extensions, at Landlord's cost.
Landlord agrees that it shall provide Tenant with electricity for lighting and
operation of typical office equipment, heat and air-conditioning for
reasonable work conditions and any other services provided under their
terms of the Lease during Business Hours, at no additional charge.
The Building shall be open from 8:00 am to 6:00 pm Monday through
Friday and 8:00 am to 1:00 pm Saturday, exclusive of holidays. Tenant shall
have access to the Premises 24 hours per day, 7 days per week. The
Building is not currently separately -petered and the HVAC is included in
the CAM. Landlord will provide the hourly cost for the overtime HVAC at a
set dollar amount of $35.00 per hour. However Landlord will work with
the Tenant to provide separately metered electric and HVAC controls if
feasible.
BUILDING SECURITY SYSTEM: There is currently key fab system to enter the Tenant's space. The City of
Boynton Beach can work with ownership install their own system. With
respect to Life Safety, the Building has fire sprinklers, emergency lighting,
illuminated exit signs, strobe light alarms, fire pull boxes and fire
extinguishers.
INTERNET PROVIDERS: Please confirm that fiber is available to the Building. Also, note what
Internet Providers service the Building. AT&T Fiber
LANDLORD ACCESS TO
PREMISES: Landlord shall have access to the Premises twelve (12) months prior to
lease expiration for the purposes of marketing the Premises to future
tenants.
REMOVAL OF LEASEHOLD Upon expiration Tenant shall surrender the Premises in the same condition
IMPROVEMENTS: as originally occupied (including the initial tenant improvements), less
normal wear and tear and the removal of its furniture, fixtures and
equipment along with any interior and exterior signage.
Intelligent
Real Estate
Solutions
BROKERAGE: Tenant and Landlord acknowledge that neither has dealt with any real
estate broker or agent in connection with the property other than Avison
Young, which represents the Tenant, and Cushman & Wakefield of Florida,
LLC, which represents the Landlord.
This proposal is not intended nor shall it be deemed or interpreted to legally bind either party. Rather,
this letter constitutes the agreement of Tenant and Landlord, subject to the termination rights set forth,
to conduct further negotiations concerning a written lease agreement or amendment between Tenant
and Landlord.
No binding obligations of Tenant or Landlord shall arise unless and until such time as a binding lease
agreement or amendment is negotiated and executed by all parties. Furthermore, Tenant and Landlord
are free to negotiate with other parties simultaneously or at any other time. Tenant and Landlord agree
to negotiate in good faith. Either Tenant or Landlord may for any reason and without cause, terminate
negotiations or this letter at any time by serving written or verbal notice of such termination to the other
party. Neither party may ciairn any legal rights or damages against the other by reason of submission of
this request for proposal or by either party taking any action in reliance thereon.
Sincerely,
Keith O'Donnell
Principal
Avison Young
AGREED & ACCEPTED
AGREED & ACCEPTED
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