Okaloosa County BOCC — January 30, 2013 — Sublease Agrmt Regal Air and VSC — reading text

and in the -event-litigation is’ instituted, ‘such litigation’ shall =be- commenced - only .in: the: courtof appropriate jurisdiction in Okaloosa County, Florida, es ee a ee oe ARTICLE XLIV 289 ENCUMBRANCE OF LEASEHOLD ESTATE AND NOTICE TO MORTGAGEES. ‘pri ir written consent of County as set forth:below,-Operator may, at y_time™ time to time during ‘the term of thislease, «encumber by secur “by way ofassignment, -or-ot i “mortgage or other Security instrument, °b: Operator's interest in'this leasehold estate. 80 (“Lender"):shall:have the - B. Any lender on ‘the ‘security of the leasehold ‘estate: © “fight’at any time during the term of this Lease: _ To'do any act or thing required of Operator hereunder-and all-such.acts ~ “or things :doné “and: performed ‘shall be as: effective to.prevent:a ~~ forfeiture of Operator's rights hereunder as if done by the Operator; and To realize on the security afforded bythe ‘leasehold sestate «by exercising foreclosure proceedings or power of sale or other remedy afforded in law or in equity or by the security documents (hereinafter sometimes collectively referred to as ‘foreclosure sale") or to acquire by deed-in-lieu, and to transfer, convey, or assign the title of Operator to ~~ the leasehold estate created hereby to any. purchaser:.atany such foreclosure sale or transfer from Lender if Lender.acquires by a.deed- “ in-lieu “and to acquire and. succeed’ to the interest of. Operator “hereunder by virtue of any such foreclosure sale or deed-in-lieu...:. > 33 Notwithstanding. anything to. the contrary provided for in. this,.Article, or elsewhere in this Lease, the rights of County, in the event of a default, may not be exercised until written notice of such default is provided to any. Lender, “or to the person or ‘firm designated by any such: Lender to accept.such notices. It is agreed that such Lender shall have the right to cure any such default within thirty (30) days from receipt of said notice with respect to any default that can be cured by the payment of money, or within thirty (30) days from receipt of said notice with respect to any other covenant or condition or “term of this Lease; -and, if such default is of such:nature. that it cannot be remedied within-said time, then’such:Lender shall-have such additional time ‘as is reasonably necessary to.cure.such default, provided that.it commences the curing of such default: within said :thirty: (30) day: périod,..and thereafter diligently continues the curing of the same. . D. No such Lender shall be: requiréd at-any time to subordinate its mortgage to other mortgages or security instruments nor.shall such Lender be liable to the County as an-assignee ofthis Lease.unless and. -until such. time.as. such _Lender shall acquire the rights of Operator-hereunder through, foreclosure.or ““other-appropriate proceedings in the nature thereof,.or-by deed-in-lieu. re dy provided for by such mortgage, or. whicr. ~~ result of any other action’ or reme may otherwise be provided by law, No modification, cancellation or surrender.of this Lease shail be made without the consent of any.Leénder on the security:of the leasehold estate when such . Lender requests, or-Lender's: documents require, such:authority to consent. t. of. Lender F.. The County “agrees ‘to provide any estoppel «upon. request. _in.full force and ~ “acknowledging ‘that (and noting any exceptions) this Lease is “effect; that there are no defaults, that-exist under.the Lease current; and such other matters as Lender. may.reasonably requ Notwithstanding ‘the foregoing,:the: Lender selected by. Operator .anc successor to Operator under the Lease, in the event-of foreclosure, deed-i otherwise, is subject to the written approval of the County. Said approvals will not be unreasonably ‘denied ~or: delayed: Asa »minimum,. any. replacement Operator considered by Lender must be able to demonstrate the. appropriate financial ability to conduct the operations and have atleast five (5) years experience in the operation of a full service fixed base operation of a similar size and offering similar services as that covered under-this Agreement. © es weeks o » 2» ENTIRE AGREEMENT... ~~ .2.0-~: This Agreement, together. with all exhibits hereto, constitutes the entire Agreement and understanding between the parties with respect.to the Leased Premises, and supersedes all negotiations, prior.discussions, letters of intent and preliminary agreements. This Agreement may not be amended except by a writing executed by 34: all of the parties. - 35 IN WITNESS WHEREOF, the Lessor/County has signed this instrument and the Lessee has cause this instrument to be signed in its corporate name by its Managing Member, all by the authority of its Board of Directors, this Lease being executed in duplicate originals, one being retained by the Lessee and one being retained by the Lessor/County. ATTEST: BOARD OF COUNTY COMMISSIONERS, OKALOOSA COUNTY, FLORIDA LESSOR CLERK OF CIRCUIT COURT = Chairman Approved As To Content: C_UZZz ‘ Airports Director Colinty Attorney ATTEST: RACLE IP —— INC. NESSEE - aa wamel/ | Vom E. Simmons Title: President 36 _ “LEASED PREMISES” LEGAL DESCRIPTION AND a PROPERTY “BOUNDARY SURVEY OF “LEASED PREMISES” - Exhibit C Table 1 Ground and Building Lease Rates Ground Lease Rate Ground Lease Area Square Annual! . . Rate/SF/Year Footage Ground Lease Ground Lease Parcel #1: Exhibit A-1: Ramp Area, Fuel Farm, Parking $0.06 813,953 $48,837.18 Ground Lease Parcel #2: Exhibit A-2: Parking Lot $0.06 38,849 $2,330.94 Ground Lease Parcel #3: Exhibit A-3: Parking Lot $0.06 133553 $813.18 Total . 866,355 $51,981.30 Building Lease Rate Square Annual Lease Building Description Footage Rates Passenger Terminal - Administrative Space 5,914 $40,788.00 Maintenance Hangar Total 15,474 $31,973.88 21,388 $72,761.88 Grand Totals 887,743 $124,743.18 Total Monthly Rent: $124,743.18 / 12 = $10,395.27 per month OLS aeatT Tk Dy GO 28-22 GO00- UOT DEON Noe aa‘og"w [asa "| HONO?'27"E [ao o'nY"| Par arrr [g4taseg” for Met ethan soning / Drones Seune Mage + SH S7STE vigos S36*51'45°E 975 56° f Roar aor bef ma ce i} 1 ail dite estates | I xy fi t " « # ed oe eC crs - a CL S35*2505E GP tat + Mt 410 15599" Mirncls Ary Awator, . | | vseshyerw Ba | | : e ” wane Ateu Ha, : 8 a1 S933 Sa Fh, Ce ~~ Easttity WW line at Agent Roce I oO ‘ : 4 \ & Oni Spear Alrpont Read 4 Ri EGA bescey gr Tt ay 5 LEGAL DESCRIPTION: | 1 i iB A part of tha Okaloosa Caunty Alpon and Industriat Authority Pat ot Cornment-amiern = N36"S239-W 780.72 4s dascribad in O.R. Book 297, page 295, public records Propose Leure Merten teeta, Sete ieaton - Of Okaloasa Caunty, Florida, situated in ic vor Je ne Bre Enates AMET WE E70 44a Sq. ty Tawnship 2 South, Range 22 Wast, Okaloosa County, Florida, ca oc te aah : RD nae TO dascribed as: ‘lnc Commence at the Southemmost corner of Lot 22, Kell Aira Estaies, according fo the ptar thoreat é Beste Mequon Cth €s recorded in Plat Book 4, Page 71, Publia Records of Okaloosa County, Florida: thence ot . * Pat toh Roget N.36°5746" WwW. along tha West Line of Kail Aire Estates and the East right of way fine of Ainport se _ “is Road, 100° Right of Way, for a distacs of 1444.90 feet: thence depart ens! tight of way fing of 8 x O” Altport Read and proceed N.53°02'14* E, for 4 istance of 11.50 feet to tha Paint of bsginning of 3 ‘ . lease parce! #1; thance N. SE"S745W. Parallel with the ast right of way line af Airport Road for ‘ x . Badistiinca af B58.14 feel: thance N; 79°48°22"W. for a distance of 249,64 feel: thence SO: N.28"S4'43°W, far a distance Of 77.45 feat: thence’. 60°58'30" W. for a distance of 52.59 jest, ‘ P thence N.31"0R4a" Wy tor 8 distance of 44:14 feet: thance N.50°2013" E for a distance of 53.28 “ . ats feat: thence N.40°32°95" W, for a distance, 018,91 feat: thence S. 52°53°'18" W fora distance of ‘. Destin airport, of 54.40 feat; thence N.411.14°59" W. for a distdios Of 26.76 fest; thence N, 82°18'10" W. for 6 FBO {(lnsel) . pa \, po, distance of 323.71 feet to the paint of curvature of curve concave North, having a radius of 35.00 TE ae Seater 60" Sex, ins Gots feet and @ central angie of 45°40'00" thencé along the are of snig curve an arc length of 27.90 TH cy Le “feet 10 the point of tangency; thence N.38"38'09°W. for a distance of 143,71 feat: thoace N. No 01°02°15" W, for a distance of 261.70 feat: thence N.53°07'21°E. fora distance of 69,57 fear: Ld thence N.36"52°99" W for a distance of 780.72 tat ta the paint of curvature of a curve concave 560" 58°30°W | southeasterly, having a radius af. 30,00 feat and a centrat angle of S0°d0 D0 thence along the NIT OB'45°W | are of said curva ‘an arg length of 47.12 feat to tha Point of tangency; thence N.53°07'21" E. for a NSG'20'1S"E | distancé of 222.43 fear: thenca $.36°52'39" E. for a distance of 78,02 feet; thence N.53°07'21-E N40"32" 35 "W for a distance of 48.28 feat; hence S.36°51'45" E. for a distarica of 975,58 feat; thence ¢ S575 aw ; N.63°0721”E. lor a distanca of 10.89 feat thence S35" a ree E. for a distance of 158.99 feat a NS tt1s'so"w ! \Y tha polnt of curvature of a curve concave Northerly, having 2 radius of 45,00 feet and a contrat = NS307'2 VES 3 - anglé Of 94°45'24" thenca along the arc of sak curva an arc length of 74.42 feet ta the porntot ~ [TT] 2 | Sa652'29"E GR APHIC SCALE fangancy; thance N.49°49'31" for a distance of 58,47 feat: thance S.36°59'58"E. for a bad + N5S07"21°E * 7 . LEGEND distance of 1418.08 feel: thence S,52°05'58° W. for a distance of 179.64 fave fo the point of ac a NSSOV 205 200 ° “we 7 - “ beginning. Bearings stated thereon ara besed on Flonita Stato Plana Coordinates, Florida North a a N4g'4g° 31°F i CONC = CONCRETE -. Zone, uiliizing primary airfield contrat monuments, us 597085 "w. a (P) = PLAT MEASURE Lease parcel #1 contains 813,953 Square Feet, Oastin Aiport FBO butiding contains 5,557 ~~ 2 (IN PEET )} a DEEN E ee ess Square Feel, Miracle Strip Aviation maintenance hangar contains 15,474 Square Foai. — 4 fineh = 20 Sa [RON Ou Not a boundary survey. Sketch of, Description RARE EARTH SURVEYING & MAPPING > Feta Deve Res Dete Shannon D, Clateney g Miracle Strip Aviation Rutesisel iow Santen | Aue Tene Bae ia sy Drawn By. SDC Rev, Date. Projessional Survoygy Lease Parcel #1 TE Bapsier by, Noman AGT ~~ THE ORIGINAL ond Mapper RUSE Sear Or FLORIDA. LICENSED SUpueyae AND MaAPRER| Registrotian $6178 Oastin Alport TU. (990) Tev-37 Ian (eo ayer oT Sennen meibtiton EXHIBIT A-2 Sketch of Description Proposed Lease Parcel 2 PAGE 1 OF 2 Agrking ol For Miracle Strip Aviatiar GEstN RACQUET GLud TOWNHOMES . . PLAT BOOK 6, PAGE 32 \ HR Ne8Y i. s5 : Te \ \ Norlneasternmost Carrer af Destin Racquet Club Townhomes : \\ Ko Plot Book 6, Poge 52 Witiggg 23k bag tee ee creo usg _ soaz712°W WOT fap os Ba0.b5%0, ° TAK 4 = $e 0228—22-0000-C001-0310. “OLR BOGK 1825, PAGE 3153-5 | Poin) of Beginning Laage Pareat 2 ~Jpaint of ‘Commancoment wwe Pee SE Comar “of that: porcel “Prapesed “°° Nog recorded tn 0.2. Book 1025 - = Miracle Strip: Aviction Lease Pugs 153, (Carniay Parcel) 7 “ Savan Noo 2 ioe * ol iasf ane os ee 34849 “§q. FL TINE TABLE TNE) LENGTH [) BEARING:2Jeco 5 ne Po os.79. | gos aT ZW) ne BS oes ia | $2.05 | SAI'S248°E) oo oe = LEGEND = CONC, = CONCRETE ia | Sbd2_ | N51°19'50"E ia | 27.39 . | Sas 7'32"6 1S | 49.21 | $07°24'50'W te | 2e7i_ | N1aay'4o"e (Mm) = FIELD NEASURE 7 | 29.43 __| s79'09'28"E | LB = LICENSED BUSINESS is 22.48 33°21 40 IR. = IRON ROO ta | 34.t9_| sgorog‘29" EG = FIRE HYDRANT Lio} 62.74 | -sa7'53'25"W : Sheet 1 of 2 Not a boundary survey. (a) = PLAT MEASURE Crt] 26.08 =-[N36°24'27'W Job Nc O8T—Mitacta Cade File: atisag ssu7 . ‘Feld Bate a: 82-44 RARE EARTH SURVEYING & MAPPING Drown By: sc Set if FF paigisarm Land Surveying ~~ Authorization Na, 1380 Flac By: es /Ko Shannon D cates =PPL deyshore Detve, ‘Hi . ~ | Pegfassional: Surveyor ot JEL Byahre Dine oe 0) 729-270 > Fiala