HomeMy Public PortalAboutGulf Stream Golf Club LeaseMEMURANULA RE Wji.-L% tiwu2ERT1hb L uLr'&2i4. ;AM
Based upon discussions held on December 13, 1973, between
Messrs. Koch, Staley, Dixson and Grady, the following points are
suggested for further consideration by the Officials of the Town
of Gulf Stream and the Governors of the Club.
(Item references are from letter dated January
11,1972 to the Mayor)
Item A - The Club would give option on purchase
of this land for a five year period at
a percentage, to be agreed upon now, of
the assessed value at the time of exercise
of the option.
Item B - This property and Club's option under
contract with Chingos would be transferred
to Town with with provision that, if Town
exercises option to sell property to
Chingos, the $40,000 price will be paid
to the Club.
Items C, D, E, F and G - These items would be
Deeded to Town for nominal consideration
and Town would agree to make $5,000.00
annual payments for 25 years to Club as
amortization of capital costs.
If during this period Town wishes to abandon the operation
of these specific properties, title to such properties reverts to
the Club and the annual payments cease.
Considering the many problems that must be dealt with, we
would hope that it would be possible to develope an agreement in
principle at an early date thus enabling the matter to be fully
resolved before the end of the current winter - spring season. Having
achieved this the Town would then be in a position to initate long
range planning since it would have complete control of the water
facilities.
December 14, 1973
Paul Grady
'4jat�z-
MODIFICATION OF LEASE ACRIiF.MF.NT
WHEREAS, a Lease Agreement was entered into on February
11, 1977, by and between Gulf Stream Golf Club, a Florida corporation,
as Lessor, and The Town of Gulfstream, a municipal corporation, as
Lessee; and,
,
WHEREAS,the parties have agreed to certain mod] fteat lons
to said Lease Agreement,
NOW, THEREFORE, it is agreed between the parties as follows:
1. The annual rental as provided in paragraph 3 of said Lease
Agreement dated February 1.1, 1977, is reduced to $5,750.00 annua.ily beginning
with the commencement of the next lease year, to—wit:
Subject to the following;
A. The Town of Gulfstream demolishing the water tower and
tank described in paragraph 1 of said Lease within a reasonable
time as demolition bids from contractors are approved by the Town
Council of the Town of Gulfstream.
B. Adequate insurance against liability and property damage,
personal injury and death be provided by the contractor to whom
the demolition bid is awarded in the amount acceptable to Lessee
and Lessor and Lessor named is one of the insured parties.
C. Should the contractor require ingress or egress to any
property of Lessor other than the property subject to said Lease
contractor and Lessee shall be afforded such ingress and egress
strictly in accordance with the provisions of paragraph 6 of
said Lease.
2. The parties agree that Lessor may proceed forthwith to remove
the present fence surruund(ng the. base. of Che tower and tank .in order to
preserve said fence for future use. Lessee agrees to release said fence from
any and all provisions of sadd Lease Agreement.
3. The aforesaid Lease Agreement shall remain in full force and
effect except as hereinabove modified..
IN WITNESS WHEREOF, the parties have executed this Modification of.
Lease Agreement by their duly authorized officers on this day of June,
1978.
GULF STREAM GOLF
By Pre
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ATTRs'I' :
Secretary f
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WITNESSES:
TOWN OV GUI.1-1;TREAN
By
(9EAL)
ATTEST: C
Town Clerk
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THIS LEASE AGREEMENT, made and entered into this
i/rl day ofEblruary 1977, by and between Gulf Stream Golf
Club, a corporation existing under the laws of the State of
Florida, hereinafter referred to as Lessor, and the Town of
Gulfstream, a municipal corporation existing under the laws
of the State of Florida, hereinafter referred to as Lessee;
WITNESSETH:
WHEREAS, Lessor owns and operates a water plant
consisting of wells, tanks, pumps, and appurtenances located
partly within the Town of Gulfstream and on lands adjacent
thereto, and Lessor is presently providing water to the Town
of Gulfstream for its use and the use of the inhabitants of
the Town of Gulfstream under an agreement dated January 13,
1966, and
WHEREAS, said agreement, by its terms, expires on
April 30, 1979, and
WHEREAS, Lessee is negotiating or has negotiated an
agreement with the City of Delray Beach, a neighboring munici-
pality, to provide its required supply of potable water for
the use of Lessee and its inhabitants and customers, and
WHEREAS, Lessee desires to lease from Lessor a por-
tion of Lessor's water plant and facilities more fully here-
inafter described, and
WHEREAS, the parties have reached an agreement in
that regard,
NOW, THEREFORE, in consideration of the premises
and of the covenants and agreements to be kept and performed
by the parties hereto, it is agreed as follows:
1. The property, both real and personal, subject
to this lease, is a parcel of land approximately 1/4 acre in
size, situate, lying and being in the County of Palm Beach,
State of Florida, more fully described on Attachment No. 1
affixed hereto, together with a 12 -inch underground water
main or pipe extending eastward from a point approximately
200 feet east of Highway U. S. 1, northbound lane, and
approximately 30 feet north of Avenue Au Soleil, in the Town
of Gulf Stream, lying west of the Intracoastal Waterway to, and
then under, the Intracoastal Waterway to the water tower and
tank now located on the parcel of land as shown on Attachment No.
1, and the water tower and tank and such valves and other equip-
ment needed for operation and use of said 12 -inch pipes. The
route of the aforesaid 12 -inch underground water pipe and point
of connection is shown in red on Attachment No. 2 affixed hereto.
2. The Lessor hereby lets and leases the above de-
scribed property and facilities to Lessee for a period of
thirty (30) years from and after the commencement of this
lease. This lease shall commence and coincide with the date
the Lessee actually begins receiving water from its proposed
supplier, the City of Delray Beach, but not later than six
(6) months prior to the expiration of the existing agreement,
i.e., on October 30, 1978.
3. The rental agreed to be paid by Lessor unto
Lessee is the sum of Six Thousand Two Hundred Fifty Dollars
($6,250.00) annually,payable in advance at the beginning of
each lease year during the term of this lease.
4. The use of the leased property described here-
in shall be for the purpose of transmitting potable water to
the Lessee for distribution to its customers from sources
within the control of the City of Delray Beach pursuant to
yti 11714I
contract dated the 1-3 day of197', and shall
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be used for no other purposes.
5. It is agreed that Lessee may purchase from
Lessor the property hereinabove described at any time dur-
ing the term of this lease at a price to be determined as
of the date the option to purchase is exercised. Lessee shall
notify Lessor in writing by certified mail of its intent to
exercise said option and a purchase price shall be determined
within 60 days of the receipt by Lessor of said notice. The
purchase price shall be determined by mutual agreement of
the parties based upon the then fair market value of the prop-
erty. If the parties are unable to agree upon the fair market
value, it is agreed that each party shall appoint an appraiser
and the two so appointed shall name a third appraiser and that
the three appraisers so named shall determine the fair market
value of said property, which determination shall be final
and binding upon the parties hereto. The purchase price shall
not include value for any improvements made to the leased
premises and property by the Lessee during the term of the
lease (said improvements being the sole property of the Les-
see except as hereinafter provided in Paragraph 9 hereof).
6. Lessee will maintain the leased property and
the Lessee, its agents or representatives,shall have the
right of ingress and egress to the leased property at any
and all reasonable times as required to adequately operate,
maintain and improve said facilities. Should Lessee desire
to use any portion of the golf course for ingress or egress,
prior consent of Lessor must first be obtained. Lessee after
prior notice.and full consultation and review to and with
Lessor shall have the right to alter, remove, improve, repair
and maintain any of the facilities located on the leased prop-
erty which are the subject of this lease, and which are deemed
necessary by Lessee for proper maintenance and operation of
the facilities located thereon. Such notice, consultation and
3
review shall not be required when regular or routine main-
tenance is undertaken by Lessee.
7. Lessee may cancel this lease -upon six (6) months'
notice, and Lessor shall return a pro -rata share of the annual
rental as of the effective date of cancellation.
B. In the event the anticipated supply of water to
the Lessee from the City of Delray Beach is terminated either
temporarily or permanently for any reason, Lessor agrees to
provide to Lessee such water as its then capabilities permit
at a rate to be negotiated by mutual agreement of the parties
or in the absence of such agreement the rate shall be fixed
by arbitration in accordance with procedures described in
Paragraph 5 above. Lessor shall continue to provide such
water as its capabilities permit until such time as Lessee'
is able to obtain another source of water adequate to meet
its requirements. Further, in consideration of the above,
in the event Lessor requires water from Lessee on a temporary
basis during the term of this lease, Lessee shall supply to
Lessor a supply of water sufficient to provide Lessor with
an adequate supply of water subject to the capabilities of
Lessee to provide same and at a rate to be mutually agreed
upon by the parties, but in no event less than ten (10) per
cent over the cost paid by Lessee to its supplier.
9. Upon termination of this lease by lapse of time
or otherwise, Lessee shall remove such equipment, fixtures
and improvements installed by the Lessee during the'term of
this lease as shall be requested by the Lessor. It is under-
stood that all equipment, fixtures and improvements installed
by Lessee during the term of this lease shall become the prop-
erty of Lessor, provided, however, that in the event Lessee
elects to purchase the property subject to this lease as
M
provided in Paragraph 5 above, any equipment, fixtures and
improvements installed by Lessee during the term of this
lease the value thereof shall be excluded in arriving at
the purchase price of the leased property.
10. The performance of all covenants herein con-
tained shall be postponed and suspended during such period
as the performance thereof is prevented by acts of God, ac-
cidents, weather and conditions arising therefrom, strikes,
boycotts, lock -outs and other labor troubles, riot, fire,
earthquake, flood, storm, lightning, epidemic, insurrection,
rebellion, revolution, civil war, hostilities, war, the de-
claration or existence of a national emergency and condi-
tions arising therefrom, the exercise of paramount power
by the federal government, either through the taking of
the demised premises or the imposition of regulations re-
stricting the conduct of business thereon, acts of enemies,
sabotage, interference, restrictions, limitation or preven-
tion by legislation, regulation, decree, order or request of
any federal, state or local government or any instrumentality
or agency thereof, including any court of competent juris-
diction, inability to secure labor or adequate supplies of
materials, products or merchandise or any other delay or
contingency beyond the reasonable control of Lessor or Lessee.
11. In the event Lessee should exercise as its
option to purchase the leased property as set forth in Para-
graph 5 above, the purchase price shall be paid in cash at
the time of closing unless the parties mutually agree upon
some other terms and method of payment.
12. During the term of the lease Lessee shall hold
Lessor harmless and indemnify Lessor against any claims of
every kind and nature including but not limited to property
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