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Lease of Parking Spaces LEASE OF PARKING SPACES Lease agreement entered into thisl5th day of February, 2005 , by and between the City of Atlantic Beach, a Florida municipal corporation, 800 Seminole Road, Atlantic Beach, Florida, 32233 ("City"), and Island Club Homeowners, Inc. , 65 10th Street, Atlantic Beach, Florida, 32233 ("Tenant") . WHEREAS, City is the owner of all public rights of way in Atlantic Beach including that portion of 10th Street located east of Beach Avenue, and WHEREAS , Tenant is a legal entity known as Island Club Homeowners, Inc. , which is located on that portion of 10th Street that is east of Beach Avenue, and WHEREAS, The Island Club Condominiums were previously apartments which were converted to condominiums in 1979 with approval and consent of City, and at the time with limited parking on site, thereby making owners/residents of the condominium units dependent upon public parking spaces on 10th Street for their residential parking needs, and WHEREAS, due to the extensive growth of Atlantic Beach and its surrounding communities since 1979, including the dramatic increase in population, traffic, and popularity of accessing the oceanfront beach, it has become more and more difficult for Tenant to find parking spaces available for use at his or her condominium unit, including those public spaces immediately adjacent to the condominium, because of use of said spaces by the public who are not residents of the condominium, and WHEREAS, the location of The Island Club Condominiums and its lack of on site private parking for residential purpose is unique in Atlantic Beach, was created, in part, with the City' s consent and approval, and creates a situation for residents and property owners in Atlantic Beach to have no parking, at times, at their own residence, and WHEREAS , the City Commission has determined it to be in the best interests of the City and all of its residents, in the continuing efforts to maintain the residential character of the City, that certain public parking spaces on 10th Street east of Beach Avenue be leased to Island Club Homeowners, Inc to provide them with private parking for their residences, and WHEREAS, the City has identified and has created more than ten ( 10) additional public parking spaces elsewhere in the City for beach access. 1 NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, including payments to be made hereunder, and other valuable consideration, the receipt and sufficiency of which is acknowledged by all parties, it is AGREED AS FOLLOWS : 1 . City hereby leases to Tenant the use of parking spaces 1 - 10, as shown on Exhibit A attached hereto, for an initial term of one ( 1 ) year beginning January 1 , 2005 , and ending December 31 , 2005 , on the following terms and conditions : (a) Tenant shall pay rent in the amount of $3 ,000 . 00, plus any applicable taxes, which amount shall be paid in full to the City on or before December 31 , 2004. (b) If Tenant fails to timely pay the rent required hereunder, the right to lease spaces 1 - 10 shall be cancelled, terminated, and forever extinguished. (c) The City shall provide and erect all necessary signage to indicate the reserved parking spaces, including the numbering of said spaces, and Tenant shall pay all costs associated therewith. (d) Tenant shall park only passenger vehicles in the leased space, including cars, trucks, SUVs, motorcycles, and the like, and shall NOT park in said spaces any RVs, campers, trailers, boats, commercial vehicles, and the like. The leased space shall be used by Tenant only in connection with The Island Club Condominiums. (e) Tenant shall register all vehicles which will use these parking spaces with the City. 2. Tenant shall indemnify and hold the City harmless from any and all claims and demands which may arise from Tenant' s lease of parking spaces 1 - 10 hereunder, including any claims and demands for damages to third parties and/or their vehicles resulting from Tenant having a vehicle towed or removed from his or her leased parking space. 3 . Tenant shall not assign or sublet the parking spaces leased hereunder in any form or fashion, shall not mortgage or encumber said spaces in whole or in part, and shall not suffer or permit the leased spaces or any part thereof to be used by others. 4. The City Commission has the absolute right to terminate this lease at any time upon giving thirty (30) days written notice to Tenant at Tenant's address set forth above. In the event a termination occurs during any twelve ( 12) month lease period for which 2 fi Tenant has paid in full, City shall reimburse Tenant on a pro rata basis for the unused period of said lease. 5 . The covenants and agreements herein contained shall, subject to the terms of this lease, bind and inure the benefit of City and Tenant, their successors and assigns, except as otherwise may be provided herein. 6. Tenant shall abide by such rules as may be established from time to time by the City covering the use of said parking space. 7. After the expiration of the initial one ( 1 ) year specified in paragraph 1 above, this lease shall automatically renew on a yearly basis. City shall have the right to increase the rent each year by either 3 % or at a rate equal to the Consumer Price Index for All Commodities as published by the U. S . Department of Labor, Bureau of Labor Statistics, whichever is greater. 8 . This lease contains the entire agreement between the parties and shall not be modified in any manner except by an instrument, in writing, executed by both parties and their respective successors in interest. 9. This lease shall be construed in accordance with the laws of the State of Florida and the City of Atlantic Beach. IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first above written. CITY OF ATLANTIC BEACH, FLORIDA P� 1.,, .,=W B _ itness print name: YVac' e . uerl James ' . anson, Cif Manager • Attest : dTZ f/ . / W tness print name: c \ en„,ne pt. SRQ 4 A.) Donna -Bess", City Clerk etc--S SEy TENANT: By: °> /4 u I / I _ Erik Gunther, President/ Treasurer " - ess print name: I/c' ,,� dluer( 74, ritness print name: yv/Nc. . /verity- / Bob Curry, , • e Preside 3 w AI It 0 S , and H3d3g 0 -----3/4 --.000SSISMISSIIIIIIIIIIIIII 4 8 -1 * ._. 1 wt, i___3 AY W z a d op (.11 i cm C C $ii' // - ' " ,.r ,, i w E� " i , ,� N C N 0 4 i' 1 r te. z F M: m - i R 3 �. `• ', z z mA tti o O Iiii V) AnA Cl) F N Im m r---a i I I T m CO �V C 7) . o 5 III 1 ' 0 Si r- X Z � `° I -- I o bi to i--• . bd ' to F-H o H 1 -D %to = N D I 111 -0 m H t z GI ti, T R) Q 7 h--4 v ' o lai© ' m at