Fort Walton Beach Resolution — 64-16-WFTW Lease — reading text

RESOLUTION NO. i' A RESOLUTION AUTHORIZING THE CITY MANAGER AND CITY CLERK TO ENTER INTO A LEASE ON BEHALF OF THE CITY OF FORT WALTON BEACH WITH VACATIONLAND BROADCASTING COMPANY, INC., A FLORIDA CORPORATION, TO LEASE A CERTAIN PARCEL OF LAND FOR A PERIOD OF 20 YEARS WITH AN OPTION TO RENEW FOR AN ADDITIONAL 20 YEARS, PROVIDING THE TERMS THEREOF. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: SECTION I. That the City Manager and City Clerk are hereby authorized to enter into a lease with Vacationland Broadcasting Company, Inc. for a period of twenty ( 20) years for an initial payment of $ 12, 000. 00 plus an annual installment equal to the City' s ad valorem tax on the real property including improvements. The said real property being described as follows: Beginning at the Southeast corner of Lot P, Home Gardens Subdivision, Fort Walton Beach, Florida, according to Plat thereof duly recorded in the Office of the Clerk of the Circuit Court of Okaloosa County, Florida, at Page 110, Plat Book I thence North 700 feet, thence West 450 feet thence South 700 feet, thence East 450 feet to point of beginning, lying and being in Okaloosa County, Florida. SECTION 2. That the lessee, Vacationland Broadcasting Company, Inc. shall have an option to renew the lease for an additional twenty ( 20) years at an annual rental of not less than one nor more than two times the City' s annual milleage on the ad valorem tax valuation of the improvements located on the real property but excluding the land itself. SECTION 3. A copy of said lease agreement is attached hereto and made a part of this Resolution. SECTION 4. All leases inconsistent herewith are hereby repealed. SECTION 5. This Resolution being of an administrative nature shall take full force and effect immediately upon its passage and approval by the Mayor. ADOPTED: p 1"// ft f/ MAYOR: L/L,~b(' 7&- f Y;;; ATT~ S7 --I (J J.~ va..-- o City Clerk  STATI or ' LORXDA COtnfty 0' OIALOOSA THIS ,~ aft1t1St1HT made and ent. r~d, into by and betwe. n the Clty of ' ort1falton Be~ eh, 1di$, a F10.)" municipality ,.:1tl' UJ,cC$ 880rS and EUla11::n$, hel'. irulttGr called and d~ 81; tluiterd ae th' l Lessor and the Vacationland Broadcasting t1ompany, Incorpox.attd, a' lorid$, eot'pora~lQft. it, SUCCf)$$Ol"S and lt$$ igrU'~; hereinalter call ~ tb" Leseee, witaes.. th tor and in c01'13 deratlon t the COVtrUu1ta and agreement.,. h~ reln. lettorth do hereby agree as tollows: Tba1# by virtue of .$.1'€ tsQlution ' pa8$~ d by the duly . l. ct~d. embers of the Council ot trot ' ort Walton B&~ ch. Florida, the said l~ ssor at s duly ~ nd. ottieia.lly COllv~~ Jd nt' In~ etln[~; otthe sa1dco\m,c1,1. author1z1nr ~ nd f'~ power1.ng th~ lessor to 1...$$ the tollow1n~ f'? d$ 8Cribed p. roperty to the Vacat1(;:J)land :arQ~ de6s~ 1nfi: Co"rnpany J Inc9rporated, for the: piUI' pOices. her'. inattt( r set forth. KNOtI ALL MEN BY 1. That the lessQr bareoy lea.s$ 8 t~') th~ a lesseft the following de. cri-b~d prQP:erty: B.~ lrm1nl: att. h.e Southeastc:orn;~ Ji r of Lc' t P, Mo.. Gardens $ ubd:i: vit1ion, Fort Walton Beach, Florida, & ccord1n~ toPla.t tberecf duly re... cor- d,ed in 'tint? Ottiee 01' 11$ Cle.rkot the 01. 4'"- ouit Oow.rtQt Okaloosa County, ' 101"i4a. at '_ g& 110. Plat Book 1. tnene. Nortb 1C)(J teet. ' thence Wes' 4S0te. t, 'thine. South 700 teet, tbe. c. ia$t 4; 0 teet to point 01 beg1nnt' b") lying and b. fn~ ift OkalooeaOounty, Florida. sddprem1.se$ h$ rein leased t(Jr" cupatiOD and uee by the 1..... to build, ereet. <::$ netruct, a. irtta1n. and op. r'ate thereon $ tat1one t~ T:' ' broadcast1ngt nd1n~t I rec(~ 1vin~ productlng and r, tr8nsmltt1n;;~' f .. reJ1>roduct1ng by means ot electlc. lly energiz.ing 01" oth~:rwise , or Qther nta. ter1t$ls in ('onn~ction w1th~the Op:14' tat:t. on qt ,1\ radio bl~oad. e, u~ t1ng oI" telev1s1on traftsm1t1on $ t~tion and t\) erect and \.t!, e Co PI  tb. reo. .' wllo., laber. t() ries, power , lant.., machtn. ry , eq1l:1p- meat .. d o'ther t* c:11t. 188 tor .. tnt. nanoeaM operatiag Qf ilame. and to~" any () th~ jnf' purposos whi1:tsoe,.er in eonj'UJl.ct1onwith or to cl11tate the ),'' t-. HJrpol$ s and $! etlvitiea . uthori~. din Oh.. rot. r otth~ 1..... 2. Thateaid ise. p.r~tr.\. hereby lea.10d tQr a. periodot veltre trom tn@ d~ te ot tor s,n1n1t1al 12, payrlE;nt ot $ 000. 00 her€'~ plu8 anaJ1nual ntal r~,' QqU8.1 t() .: 11 ty f ~ 11111& ai~1;$ t1m$. tht a4 Valor- Elm t.ax valuat,i(, n of the improvf: uuents and real estate. The f: i.' t" t! tt p8-1fnent be1n,f;;dU,$ on ~ U,tlonof xe<;' this leaae andaDnUallr tharoa..tter. -- J. The l"... ee sl1s11 h~ ve the option to renew th1$ 1~~ 49$ tbr an 1,4d:l:. lt)nal t:wlnty ( ) years by d~ 11verin' to th$ leasor 1..rt writ1tt: g not l$sS th$1'1 ei~ mO.!3:th$ ta~. rore t1xpiration