Fort Walton Beach Resolution — 72-31-Lease Agreement w/Browning Marine — reading text

RESOLUTION FI-3/ A RESOLUTION AUTHORIZING THE CITY - MANAGER ON BEHALF OF THE CITY OF FORT WALTON BEACH, TO EXECUTE A LEASE AGREEMENT WITH BROWNING MARINE, A DIVISION OF BROWNING ARMS COMPANY, PROVIDING THE EFFECTIVE DATE HEREOF. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: SECTION 1. That the City Manager on behalf of the City of Fort Walton Beach, is hereby authorized to execute a lease agreement with Browning Marine, a Division of Browning Arms Company, a copy of which lease agreement is attached hereto and by reference made a part hereof. SECTION 2. This resolution being of an administrative nature shall take full force and effect immediately upon its passage and approval by the Mayor. of ADOPTED: 5. 197 al MAYOR; ; ATT y 1\6cau City Clerk Reviewed And Approved by The CHy Attorney Which Will Be Legal Waen Foo’ By The City Council of the Ciry of Fort Walton Bach, Hloide WALTER J. SMITH City Attorney Comes now the City of Fort Walton Beach, Florida, a municipal corporation, hereinafter referred to as the lessor, and Browning Marine, A.Division of Browning Arms Company, a corporation, hereinafter referred to as the Lessee, and each in consideration of the agreements to be performed by the other, hereby, on this day of 25 A. D. , 1972, agree: | 1. That the lessor hereby leases to the lessee the real property in Okaloosa County, Florida, described as follows: Parcel l. Begin at a concrete monument on the south line of Section 9, Township 2 South, Range 24 West, 2431.04 feet west of the southeast corner of said Section 9, said point being 248.34 west of the intersection of: the south line of Section 9 and the west line of Forsman Drive. Proceed 90° north a distance of 519.13 feet to a concrete monument on the south line of ‘Anchors Street, thence west 484.00 feet along the south line of Anchors Street to a concrete monument thence south 519.13 feet to a concrete monument on the South line of Section 9, thence east 484.00 feet to the point of beginning. The above tract containing 5.8 acres more or less. Parcel 2. Commencing at the SW Corner of Section 9, T-2-S, R-24-W, proceed north along the west line of Section 9, 519.13 feet more or less to the South R/W of Anchors Street, thence South 8790 24' East 2191.92 feet.to the point of beginning; thence South 2 36! west 519 feet more or less to the South line of Section 9, thence east along section line ™ 239./2. feet more or less to a concrete monument, thence 90 degrees north 519.13 fe-t more or less to a concrete monument, thence north 87° 24' West a3’./Q2. feet more or less to P. O. B. Subject to a fifteen foot utility Ease- mont along the south and west lot lines. commencing on the day of A. D., 1972, with the lease to continue annually for a period of Tievta— (20) years. © O 2. 2. The lessee agrees to pay the lessor as and for rent the sum of $2,094.00 per month plus 4% state sales tax for each and every month with the rent payable in advance. 3. The lessee also agrees to pay all utility bills, AD Valorem Taxes, other taxes that may be imposed. 4. The lessor agrees to give the lessee the option to _ purchase the said property and buildings at any time during the | lease period for the sum of Two Hundred Seventy Thousand (us ($270,000.00) with interest at 7% per annum from date until said option is exercised, the purchase price shall be paid with the Said rental payments paid or paid in advance under the lease to be credited on the purchase price minus accrued interest just as though the lessee had been purchasing the property from the date hereof, at a purchase price of Two Hundred Seventy Thousand ($270,000.00) plus interest at 7% annually with monthly pay- ments to apply to a reduction of interest then principal ( in accordance with the attached amortization schedule ). In the event the lessee makes all payments in accordance with the terms of this tease, then at the expiration of the term of this lease, the lessor will, without payment of any further sums, convey title to the pre- mises described herein to the lessee by a good and sufficient war- ranty deed showing the property to be unencumbered. | | 5. In the event the lessee exercises the option to pur- chase the property, the deed from the lessor shall require the pre- mises to be used for a manufacturing or warehouse type operation, and prohibiting retail sales. | 6. The lessee agrees to make all repairs and keep the building in a good state of repair and the lessee agrees to return the property to the lessor at the expiration of this lease in the event the option is not excerised in the same condition as now exists less fair wear and tear. 7. The lessee agrees to pay for any and all insurance including a fire and extended coverage policy in an amount suffi- cient to replace the building during the existence of the lease with the loss payable clause to be payable in favor of the lessor and any mortgage with the original of said policy to be delivered to the lessor. 8. The lessee agrees not to sublease or assign this lease or rent the property to any person or firm without the consent of the lessor. | 9. The lessee agrees to confine the use of the leased premises to the manufacture of products for wholesale distribution only. 10. The lessee agrees to indemnify the lessor for any damages to the property or that may be sustained by individuals as a result of injuries on the premises and to carry liability in- surance equal to $100,000.00 per person or $300,000.00 per accident. ll. If the leased property is damaged by fire or other casualty, the lessors shall rebuild and repair the leased property. In the event of damage by fire or other casualty, the rent payable under this lease shall abate in proportion to the impairment of the use that can reasonably be made of the property for the purpose per- mitted by this lease until the property is rebuilt or repaired. In the event the leased premises are damaged by fire or other ca- ) less any sums received on the insurance policies and with payments to be credited in accordance with paragraph 4 of this lease set forth hereinabove. uy, 12. If either the lessor or the lessee shall fail to per- form or shall breach any covenant of this lease other than the agree- ment of the lessee to pay rent, for ten days after written notice specifying the performance required shall have been given to the party failing to perform, the party so giving notice may institute action in a court of competent jurisdiction to terminate this lease or to compel performance of the agreement, and the prevailing party in that litigation shall be paid by the losing party all expense of the litigation including a reasonable attorney's fee. 13. If any rent required by this lease shall not be paid when due, the lessor shall have the option to: a. Terminate this lease, resume possession of the proper- ty for his own account, and recover immediately from the lessee, the difference between the rent specified in the lease and the fair rental value of the property for the remainder of the term, re- duced to present worth. b. Resume possession and re-lease or rent the property for the remainder of the term for the account of the lessee, and recover from the lessee, at the end of the term or at the time each payment of rent comes due under this lease as the lessor may choose, the difference between the rent specified in the lease and the rent received on the releasing or re-renting. In either event, the lessor shall also recover all expenses incurred by the reason of the breach, including a reasonable attorney's fee. 14. This lease shall be terminated immediately if the lessee shall become insolvent, bankrupt or make an assignment for the bene- fit of creditors. OQ 15. All rent payable and notice to the lessor shall be paid and given at City Hall, City of Fort Walton Beach, or at such other place as the lessor may specify in writing. All notices given under this lease to the lessee or any assignee or sub-lessee of the lessee shall be given at the leased premises. Witnesseth: BY as to Lessor Witnesseth: as to Lessee CITY OF FORT WALTON BEACH, FLORIDA . (SEAL) City Manager LESSOR ATTEST: (SEAL) City Clerk BROWNING MARINE, a Division of BROWNING ARMS COMPANY, INC. By (SEAL) its President LESSEE ATTEST: (SEAL) its Secretary PLAYGROUND Dairy News Published Daily (Except Saturdays and Sundays) Fert Walton Beach, Florida State of Florida, County of Okaloosa Before the undersigned authority personally appeared _ JAMES GRIFFIN who on oath says that (s)he ? is _.PUBLISHER of ihe Playground Daily News, a daily newspaper published at Fort Walton Beach, in Okaloosa County, Florida; that the attached copy of advertisement, being a RESOLUTION 72-31 in the matter of in the — _ Court, was published in said newspaper in the issues of SEPTEMBER 13, 1972 Affiant furiher says that ihe said Playground Daily News is a newspaper published at Fort Walton Beach, in said Okaloosa County, Florida, and that the said newspaper has heretofore been continuously published in said Okaleosa County, Florida, each day (Saturday and Sunday excepted) and has been entered as second class mail matter at the post office in Fort Walten Beach, in said Okaloosa County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that (s)he has neither paid nor promised any person, firm or corporation any discount, rebate, commision or refund for the purpose of securing this advertisement for publication in the said newspaper. 4 ff ; i a eet PS Be tt TES : Mac i a ee a " a ° Sworn to and subscribed before me this 1°th day of SEPTEMBER , A.D. wi2_. : , Mbps Ae plHn “4 Notary Public, State of Florida at Large wee om Loe My Commission Expires _ | * RESOLUTION 72-31 :A RESOLUTION AUTHORIZING THE CITY MANAGER ON BEHALF OF THE CITY OF FORT WALTON BEACH, TO EXECUTE A LEASE, AGREEMENT WITH «BROWSING *NAARINE, A DIVISION OF COMPANY, PROVIDING THE EF. | FECTIVE DATE HEREOF. , COUNCIL OF? THE CITY. OF FORT ‘WALTON BEACH, FLORIDA: | SECTION 1. That the ‘Cify. Marmager on ' behalf of the City of Fort Walton Beach, is hereby authorized to’ execute 4. lease . agreement . with Browning”, Marine, a ; Division of: Browning Arms Company, a copy of whichi#gase. agreement i is attached’ | -hereto and rete hereof. Lf SECTION 2. this resolution being of an administrative nature shall take full force’ 2. Made. a, part 4 eed and effect immediately up@y its passage | and approval by athe Mayor gi se ADOMTED: ‘September 5, 1972 MAYQR: Maurice McLaughlin ATTEST: : , CHARLES D. EVANS | City Clerk © 8834 - Sept. 13, 1972 BROWNING ARMS ‘BE IT™ ‘RESOLVED BY: THE CITY