Res 2018-100 Amendment to Lease Agreement for Community Development Dept. Office SpaceRESOLUTION 2018-100
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
NORTH PALM BEACH, FLORIDA APPROVING A FIRST AMENDMENT TO
THE LEASE AGREEMENT WITH ICV NPB, LLC FOR AN ADDITIONAL 878
SQUARE FEET WITHIN VILLAGE SQUARE PLAZA FOR USE BY THE
COMMUNITY DEVELOPMENT DEPARTMENT AND AUTHORIZING THE
MAYOR AND VILLAGE CLERK TO EXECUTE THE FIRST AMENDMENT;
PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, through the adoption of Resolution No. 2013-67 on December 12, 2013, the
Village Council approved a five-year Lease Agreement with ICV NPB, LLC to occupy two
suites totaling approximately 2,400 square feet for the Village's Community Development within
Village Square Plaza, located at 420 U.S. Highway One within the Village; and
WHEREAS, the Community Development Department is in need of additional space, and
Village Staff has negotiated a First Amendment to the Lease Agreement to occupy an additional,
adjacent suite within the Plaza totaling 878 square feet for the remainder of the lease term
(through April 1, 2019); and
WHEREAS, the Village Council determines that the approval of the First Amendment to the Lease
Agreement is in the best interests of the residents and citizens of the Village of North Palm Beach.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE
OF NORTH PALM BEACH, FLORIDA as follows:
Section 1. The foregoing recitals are ratified as true and incorporated herein.
Section 2. The Village Council hereby approves a First Amendment to the Lease Agreement with
ICV NPB, LLC, a copy of which is attached hereto and incorporated herein by reference, to occupy an
additional 878 square feet within Village Square Plaza for use by the Community Development
Department and authorizes the Mayor and Village Clerk to execute the First Amendment on
behalf of the Village. The cost total cost of the additional space shall be $1,327.97 per month
($1,235.05 in Base Rent and $92.92 for real estate taxes and insurance).
Section 3. All resolutions or parts thereof in conflict with this Resolution are hereby repealed
to the extent of such conflict.
Section 4. This Resolution shall be effective immediately upon adoption.
PASSED AND ADOPTED THIS 8TH DAY OF NO'
(Village Seal)
ATTEST:
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VILLAGE CLERK
FIRST AMENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT is made and entered into this � �"�' day of
to-/Wbty, , 2018 to that certain Lease Agreement dated December 12, 2013 between
ICV NPB, LLC., a Florida limited liability company having a place of business at 30 Main
Street, Suite 401, Burlington, Vermont (hereinafter referred to as "Landlord") and the
VILLAGE OF NORTH PALM BEACH, a municipal corporation organized and existing
under the laws of the State of Florida, with its principal place of business at 501 U.S.
Highway One, North Palm Beach, Florida (hereinafter referred to as "Tenant").
RECITALS:
WHEREAS, on December 12, 2013, the parties executed a Lease Agreement for the
leasing of Suites 18 and 21 (mistakenly identified as Suite 27 in Section 1(A) of the
Agreement but correctly identified in the Exhibit) at Landlord's multi -tenant retail shopping
center known as Village Square Plaza located at 420 U.S. Highway One, North Palm Beach,
Florida (hereinafter known as "Building"); and
WHEREAS, Tenant wishes to add Suite 16 of the Building, having approximately
878 rentable square feet ("Expansion Space"), to the existing Lease Agreement of
approximately 2,400 rentable square feet; and
WHEREAS, Tenant wishes to occupy the Expansion Space commencing December
15 2018; and
WHEREAS, the Lease Agreement shall expire on April 1, 2019, and there is
currently no option for renewal to extend the term of the Lease Agreement.
NOW THEREFORE, in consideration of the mutual covenants set forth in the Lease
Agreement and this First Amendment and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows:
1. The above recitals are true and correct.
2. The Demised Premises shall consist of Suites 18, 21 and 16 of the Building,
with a combined rentable square footage of approximately 3,278 square feet.
3. Within ninety (90) days of the execution of this Lease Agreement, Landlord
and Tenant shall enter into new Agreement to extend the term of the Lease Agreement.
4. The monthly Base Rent for the remaining term of the Lease Agreement shall
be $4,611.05, and Tenant's monthly adjustment for Real Estate Taxes and Insurance over
the Base Year shall be $346.92 per month for the remaining term of the Lease Agreement.
5. All other terms of the Lease Agreement, to the extent not expressly not
modified herein, shall remain in full force and effect.
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IN WITNESS WHEREOF, the parties hereto have signed this First Amendment the day
and year cited above.
Witness
Attest:
Village Clerk
Approved as to Form
and Legal Sufficiency:
Village Attorney
ICVZ;egen,
By Managing Member
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