Okaloosa County BOCC — October 21, 2014 — LEASE MODIFICATION-Okaloosa County-Dominion-Revisedv2 — reading text

STATE OF FLORIDA COUNTY OF OKALOOSA LEASE MODIFICATION AGREEMENT THIS AGREEMENT made effective the 1st day of November 2014, by and between OKALOOSA COUNTY, a political subdivision of the State of Florida, whose address is 302 N. Wilson Street, Suite 302, Crestview, Florida 32536 (hereinafter referred to as "Lessor”), and DOMINION CAPITAL, LLC, a Florida limited liability company, whose address is 755 Grand Blvd., B105-214, Miramar Beach, Florida 32550, (hereinafter referred to as "Lessee") is for the purpose of modifying that certain written lease agreement entered into by the parties herein on or about August 13, 2012 (hereinafter referred to as "Lease Agreement"). WITNESSETH: WHEREAS, the Lessor and Lessee herein did enter into a written Lease Agreement on or about August 13, 2012, wherein the Lessee did agree to lease certain real property and improvements located thereon more particularly described on Exhibit “A”, attached hereto and made a part hereof (hereinafter referred to as “Leased Premises”), which property is located in Fort Walton Beach, Florida; and, WHEREAS, the Lessee has significantly increased funding for the project over initial budget projections to enhance the venue and to fund extensive site improvements and renovations and desires to merge its company with DBR Entertainment Productions, LLC, a Florida limited liability company, as its financial partner; and, WHEREAS, the parties desire to modify certain provisions of the Lease Agreement. 1  NOW, THEREFORE, in consideration of the mutual covenants contained herein the parties do agree as follows: 1. As of the effective date of this Agreement the Lessee under the Lease Agreement shall be DBR Entertainment Productions, LLC, a Florida limited liability company, who is the successor to Dominion Capital, LLC by merger. 2. That Section 2 of the Lease Agreement which is entitled “TERM” is hereby modified to read as follows: 2. TERM. The term of this lease is ten (10) years commencing on August 13, 2012. This Lease shall automatically renew for three (3) additional consecutive periods of ten (10) years each, unless the Lessee provides not less than sixty (60) days written notice to Lessor prior to the expiration date of the then expiring term of this Lease of its intent to terminate this Lease. 3. That Section 3 of the Lease Agreement which is entitled “RENT” is hereby modified to read as follows: 3. RENT. Lessee covenants and agrees to pay as rent for leasing the attached premises Sixty-five thousand dollars ($65,000.00) per annum in advance annually, with the first such payment being due within ninety (90) days of the effective date of this Lease. The rent shall be adjusted annually thereafter to reflect the increase in the Consumer Price Index. Beginning on November 1, 2014, and for the remainder of the Lease Term and all extensions of the term, the annual rents due shall be payable in advance in equal successive monthly installments upon the first day of each calendar month included in the Lease Term. Any amounts owed between the end the last annual term, for which 2  payment was previous paid and the start of the period in which monthly payments will begin (November 1, 2014), shall also be paid at the same time as the initial monthly payment which is due in November, 2014. The rent shall be adjusted annually on its anniversary date to reflect the cost of living adjustment. All Urban Consumers for all items – U. S. City Average, published by the Bureau of Labor Statistics, U. S. Department of Labor, 1982-84 = 1 - (C"CPI-U."). In the event the U. S. Department of Labor, Bureau of Labor Statistics ceases to publish the C.P.I., the parties hereby agree to substitute another equally authoritative measure to change in the purchasing power of the U. S. dollar as may be then available. The annual adjustment shall be effective on each anniversary date of the Lease Term and shall be based upon the percentage difference between the C.P.I. for the previous twelve (12) month period ending December 31 and the C.P.I. for the twelve (12) month period ending December 31 of that year of the lease term multiplied by the current year's lease fee. As additional rent or consideration, Lessee covenants and agrees to pay any State sales or other tax of any nature or kind on the rent or other consideration paid to Lessor, plus any ad valorem, intangible, or other tax or assessment on the property, or improvements imposed by State, Federal, or County law, or Ordinance. 4. In all other respects, except as herein modified, the terms and provisions of the aforementioned Lease Agreement shall remain in full force and effect. This Modification shall have the same force and effect as if incorporated into the Lease Agreement, and shall take precedence there over. IN WITNESS WHEREOF, the parties hereto have signed and sealed this Lease 3 Modification Agreement on the dates indicated below to be effective as of the 1st day of November 2014. 4 ATTEST: LESSOR: BOARD OF COUNTY COMMISSIONERS, OKALOOSA COUNTY, FLORIDA, a political subdivision of the State of Florida By:_________________________________ By:__________________________________ Gary J. Stanford, Deputy Clerk of Circuit Charles K. Windes, Jr., Chairman Court, Okaloosa County, Florida Date:________________________________ WITNESSES: LESSEE: _____________________________________ DOMINION CAPITAL, LLC a Florida Print Name:__________________________ limited liability company ____________________________________ By:__________________________________ Print Name:___________________________ Blake Rogers, Manager Date:________________________________ DBR ENTERTAINMENT PRODUCTIONS, LLC, a Florida limited liability company By:__________________________________ Patrick Barcus, Manager Date:________________________________ _____________________________________ Print Name:___________________________ _____________________________________ Print Name:___________________________ 5 STATE OF FLORIDA COUNTY OF OKALOOSA The foregoing instrument was acknowledged before me this _____ day of ________________________, 2014 by Blake Rogers, on behalf of Dominion Capital, LLC, a Florida limited liability company, as its Manager ______ who is personally known to me ______ who has produced _____________________ as identification and who did not take an oath. ______________________________ Notary Public My Commission Expires: STATE OF FLORIDA COUNTY OF OKALOOSA The foregoing instrument was acknowledged before me this _____ day of ________________________, 2014 by Patrick Barcus, on behalf of DBR Entertainment Productions, LLC, a Florida limited liability company, as its Manager ______ who is personally known to me ______ who has produced _____________________ as identification and who did not take an oath. ______________________________ Notary Public My Commission Expires: This instrument prepared by: C. Jeffrey McInnis, Esq. ANCHORS SMITH GRIMSLEY, PLC 909 Mar Walt Drive; Suite 1014 Fort Walton Beach, Florida 32547 (850) 863-4064 6