HomeMy WebLinkAboutCity of Tamarac Resolution R-2016-015C
Temp. Reso. # 12748
Page 1
January 27, 2016
CITY OF TAMARAC, FLORIDA
"
RESOLUTION NO. R-2016 1 J
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA, AUTHORIZING
AND DIRECTING, ALAN J. POLIN, P.A. AS
TRUSTEE UNDER THE TAMARAC LAND TRUST
AGREEMENT DATED JULY 10, 2013 TO EXECUTE
THE FIRST AMENDMENT TO GROUND LEASE,
ATTACHED HERETO AS EXHIBIT "1", BY AND
BETWEEN ALAN J. POLIN, P.A. AS TRUSTEE AND
JKM TAMARAC VILLAGE, LLC TO BE EFFECTIVE
NUNC PRO TUNC TO JANUARY 15, 2016;
AUTHORIZING THE CITY MANAGER TO
PERIODICALLY DIRECT ALAN J. POLIN, P.A. AS
TRUSTEE TO APPROVE MINOR NON -MONETARY
AMENDMENTS TO THE GROUND LEASE
AGREEMENT; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, The City of Tamarac approved, authorized and directed Alan J.
Polin, P.A., Trustee (Trustee) under the Tamarac Village Land Trust to execute a
Ground Lease Agreement between the Tamarac Village Land Trust and JKM Tamarac
Village, LLC (Tenant) via Resolution R-2015-98; and
WHEREAS, The Ground Lease Agreement has a specific period known as the
Site Analysis Period (sixty days following the effective date of the agreement) whereby
the Tenant shall review the Title Commitment and notify Landlord, in writing, of any
objections to the any title exceptions reported in the Title Commitment; and
Temp. Reso. # 12748
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January 27, 2016
WHEREAS, The Ground Lease Agreement provides a Review Period, 30 days
following receipt in writing of the objections to any title exceptions, for the Landlord to
notify Tenant of Landlord's agreement or refusal to cure or remove the Title Defects
prior to the Commencement Date; and
WHEREAS, Landlord has responded in the time period required by the Ground
Lease Agreement; and
WHEREAS, JKM is requesting an additional one month extension to the Review
Period to February 16, 2016 to resolve the objections, and
WHEREAS, The City Manager, the Director of Financial Services and the
Director of Community Development recommend that the Trustee of the Tamarac Land
Trust be directed to execute the First Amendment to Ground Lease Agreement by and
between Alan J. Polin, P.A. as Trustee under the Tamarac Village Land Trust
Agreement dated July 10, 2013; and
WHEREAS, The City Commission of the City of Tamarac, Florida, deems it to be
in the best interest of the citizens and residents of the City of Tamarac to authorize and
direct the Trustee for the Tamarac Village Land Trust to execute the First Amendment
to Ground Lease Agreement for the development of Tamarac Village attached hereto
and incorporated herein as Exhibit I" to be effective nunc pro tunc January 15, 2016.
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Temp. Reso. # 12748
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January 27, 2016
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are HEREBY ratified and
confirmed as being true and correct and are hereby made a specific part of this
Resolution upon adoption hereof and all exhibits referenced and attached hereto are
incorporated herein and made a specific part of this resolution.
SECTION 2: That Alan J. Polin, P.A. as Trustee for the Tamarac Village
Land Trust is hereby authorized and directed, pursuant to this resolution and that
certain Florida Land Trust Agreement between Alan J. Polin, P.A. dated July 10, 2013,
to execute the Ground Lease Agreement by and between Alan J. Polin, P.A. as Trustee
under the Tamarac Land Trust Agreement and JKM Tamarac, LLC, attached hereto and
incorporated herein as Exhibit 1" to be effective nunc pro tunc to January 15, 2016.
SECTION 3: The City Manager is hereby authorized to periodically direct
Alan J. Polin, P.A. as Trustee for the Tamarac Village Land Trust, to amend the Ground
Lease, from time to time, but only for minor non -monetary changes or modifications
consistent with the tenor of the original approval by this City Commission.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
Temp. Reso. # 12748
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January 27, 2016
SECTION 5: If any clause, section or other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid,
in part or application, it shall not affect the validity of the remaining portions or
applications of this Resolution.
SECTION 6: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this 27th day of January, 2016.
HAR Y DRESSLER
MAYOR
ATTEST:
PATRICIA TEUFEL, p�
CITY CLERK
RECORD OF COMMISSION VOTE:
MAYOR DRESSLER
DIST 1: COMM. BUSHNELL
DIST 2: COMM. GOMEZ
DIST 3: VICE MAYOR GLASSER t
DIST 4: COMM. PLACKO
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
AS TO FORM
w,SA UEL S. GOREN
` CITY ATTORNEY
Exhibit 1
FIRST AMENDMENT TO GROUND LEASE
This First Amendment to Ground Lease (the "Amendment") is made and entered into
effective as of January a 2016, by and between Alan J. Polin, P.A., as Trustee under the
Tamarac Land Trust Agreement dated July 10, 2013 ("Landlord"), and JKM Tamarac Village,
LLC, a Florida limited liability company ("Tenant").
BACKGROUND
Landlord and Tenant entered into that certain Ground Lease with an effective date of
October 19, 2015, regarding certain real property located at in Tamarac, Florida, commonly
known as "Tamarac Village" (the "Lease"). Landlord and Tenant have agreed to amend the
terms and provisions of the Lease as more particularly set forth herein.
Agreement
l . The above recitals are true and correct and are incorporated herein by reference.
Capitalized terms which are not defined in this Amendment shall have the same meaning as
defined in the Lease.
2. Section 4.3 of the Lease is hereby deleted in its entirety and replaced with the
following (underlined text represents new language; text with double-strikethrough represents
language which has been deleted):
"4.3 Review Period. Tenant shall have until the end of the Site Analysis Period to
review the Title Commitment and notify Landlord of any objections Tenant may
have to any title exceptions reported in the Title Commitment ("Title Defects").
Tenant shall notify Landlord in writing ("Title Objection Notice") specifying the
Title Defects and the curative action required to render such matters acceptable to
Tenant. Landlord shall have a period of thirty (30) calendar days to notify Tenant
of Landlord's agreement or refusal to cure or remove the Title Defects prior to the
Commencement Date. If Landlord does not agree within such thirty (30) calendar
day period to cure or remove the Title Defects by the Commencement Date,
Tenant may: (i) accept title to the Property as it then is without modification to the
terms hereof or claim against Landlord therefore; or (ii) demand a refund of the
Lease Deposits, which shall forthwith be returned to Tenant by Escrow Agent,
and thereafter Tenant and Landlord shall be released from all further obligations
under this Lease except those that specifically survive termination. If Tenant fails
to demand a return of the Lease Deposits on or before February 16, 2016wii�
Tenant shall be deemed to have elected to accept
title to the Property. If Landlord agrees to cure or remove a Title Defect prior to
the Commencement Date, but Landlord fails to cure or remove such Title Defect
prior to the Commencement Date, such failure shall be a default by Landlord and
Tenant shall have the remedies set forth in Section 15.4 of this Lease or Tenant
shall have the right to terminate this Lease and receive a return of the Lease
Deposits. Notwithstanding anything to the contrary in this Section 4.3, if title to
the Property is unmarketable because of liens in a liquidated amount that can be
released if satisfied by payment of money alone (and provided that such liens
were caused by the action or inaction of Landlord and not by any action or
inaction of Tenant or any failure of Tenant to comply with the terms of this Lease
or to pay any amount required by this Lease to be paid by Tenant), then Tenant
shall have the option to accept title to the Property as it then is and to have the
Escrow Agent reserve a portion of the Lease Deposits such that, at the time of the
Commencement Date, such liens shall be paid from the Lease Deposits, and the
amount due Landlord shall be reduced by such amount, or Landlord shall remove
the same by statutory permitted bond. Landlord agrees that Landlord shall use its
best efforts to cure the Title Defect within the time limits set forth in this Lease.
Notwithstanding the foregoing, Landlord agrees that Landlord shall pay all
outstanding governmental or quasi -governmental assessments, and any
outstanding judgments or liens against Landlord and/or the Property, including all
penalties and interest, which existed prior to the Commencement Date as a result
of any action or inaction by Landlord or any of its agents, employees,
beneficiaries, contractors or invitees."
3. Landlord and Tenant hereby agree that a facsimile or electronic copy of this
Amendment and any signatures thereon shall be considered for all purposes as originals.
Landlord and Tenant hereby agree that this Amendment may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which shall constitute
one and the same instrument.
4. In the event of any conflict between the terms of the Lease and the terms of this
Amendment, the terms of this Amendment shall control. Except as amended and modified
herein, the remaining terms and provisions of the Lease shall remain in full force and effect as
originally set forth therein.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE(S).]
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first
set forth above.
WITNESSES:
Name: At t2 yr --a , e0,44
4�-j
Marne: .0e"(''
LANDLORD:
Alan J. Polio, P.A., as Trustee under the
Tamarac Land Trust Agreement
dated July 10, 2013
By,
Name: _ 1,^j
Title: "
TENANT:
JKM Tamarac Village, LLC,
a Florida limited liability company
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JKM Tamarac Village Capital, LLC,
a Florida limited liability company,
its Manager