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027-Mayfair modification agrmtSY. f LOR�flQ L E COUN r SfMiNO r )IFICATION AND CONSENT AGRbhMENT THIS AGRI~EMENT, made and entered Into this 5 day of c � , A. D. 1965 by and between CITY OF SANFORD, FL:3RIDA, a municipal corporation, party of the first part, hereinafter called Lessor, and JAVID M. tivHGLCHEL, party of the second part, hereinafter called Lessee. VA ITNESSETH: %HEREAS, Lessor heretofore on October 11, 1949, entered into a ninety -nine year lease with Hugh C. +Ahelchel and J. A. Ponder covering the then municipal golf course now known as Mayfair Country Club, which said lease was recorded in Deed Book 187, page 125, Public Records of Seminole County, Florida; that thereafter, with consent of L:asor said lease was assigned to Mayfair Inn, Inc. , a wholly owned subsidiary of National v ehibitton Company on May 26, 1952: and vAHEREAS, the said Mayfair Inn, Inc, has requested of Lessor permission to assign the above- described lease to David M. Vthelehel, and Lessor in consideration of the hereinafter set forth covenants and agreements has consented to such assignment, NOVA, THE FIEFORE. for and in consideration of the premises, as well as the consent of Lessor to permit assignment of the aforedescribad lease to Lessee, the parties hereto do covenant and agree that the aforesaid lease dated October 11, 1949 shall be modified in the following respects: 1. In addition to the description of the leased premises as described in said leases the following described property is added thereto and henceforth will be in:;orporate d in said lease, to -wit: Begin 53 chains �kmth of NA corner of East 1/2 of Section 4 Township 20 South, Range 30 East, run South 350.3 feat, thence; East 200 feet, thence: North 56 degrees 49 -1/2 minutes cast 222.05 feet, thence North 14 degrees 40-1 /2 minutes but 440.92 feet, thence W oat 167. i feet, thence South 198 feet, thew 'host 330 feet to point of beginning. 2. Paragraph 2 of said lease pertaining to rentals is hereby stricken from said lease and in lieu thereof the following: Lessee covenants and agrees during the remaining s tam hereof, to spend annually on capital improvements, in lieu of rent, first to the golf course itself until such time as the layout and condition of said course are satis- factory to Lessor, and then to building improvement and additional structures, the following sums: five percent (51'.) of the first $100,000.00 of gross revenue, ten percent (10%) of the next $150,000.00 of gross revenue, and fifteen percent (AV of all gross revenue over $250,000, M Gross revenue shall be defined as all revenues derived from all sources except proceeds from the operation of the pro shop, as long as the pro - shop is being operated by the pro as reimbursement to the pro. Pro shop proceeds shall include the sale of all merchandise, golfing equipment and proceeds from golf lessons but shall specifically exclude cart rentals. Quarterly accounting shall be rendered to the City of Sanford. In the event any of the aforesaid sums, on an annual basis, are not spent In liens of rent on such Improvements, the same shall be paid as ream to the City. Capital Improvements shall be defined as those types of improve- ments which become permanent in nature as compared to those Improve- ments which are required only to maintain rdpair and condition; provided, however, the expenditures required herein for re- working and renovation of tees and greens shall be considered as capital improvements. It is further agreed that the above described sums may be carried over from year to year, for example: If Lessee expends during one year the sum of -2- of $2'3.000.00 in permanent improvements and if under the above described gross revenue formula $5,000.00 would be required during such year, the a ° remaining $20, 000.00 would be carried forward to subsequent years and "— credited toward future requited expenditures under the above described r.. o a:; formula. un 3. Subparagraph i of Paragraph 3 of the above described lease uti w c is deleted. and in lieu thereof is the following: Lessee agrees during the term of this lease to maintain and operate the golf course on the above described property as an eighteen hole golf course, aggregating 6, 00l1 yards in length, with fairways of standard width, and clubhouse and locker rooms as a country club. T'he maintenance require- ments for said course shall apply on an annual basis and shall include as minimal standards proper fertilization, watering, mowing and weed killing programs, all to be first submitted annually to the City of Sanford for approval. 4. Subparagraph 2 of said Paragraph 3 on page 4 of said lease Is deleted in its entirety. 5. Subsection 17 of said lease on page ii thereof shall be amended to delete beginning in line 7 on page 12 thereof and ending in line 8 on said page, the following: Except for such transfers as may be authorized under Section 2 of this lease. 6. Less" covenants and agrees that during three years Immediately succeeding the execution of this instrument Lessee will make the following improvements to the golf course: (a) Replacement and replanting of all greens except numbers 12 and 13 in 328 Bermuda grass. -3- (b) Completion of a satisfactory fairway wood killing Program and re- sprigging of fairways. 7. Lessee acknowledge# that Lessor at the present time is in- c +u valved in a lakefront development program which will include the location v ^� and operation of a resort municipal marina motel operation. Lessee agrees that he will extend to the operators of such contemplated municipal A a v l marina mote a greens fees arrangement and lam " � P pertaining to the golf r ll: course which will provide for greens face being available on a daily basis to motel guests at not more than fifty percent (50%) of the daily greens fees then charged by Lessee, in any event subject to a maximum of $2.00. S. Lessee further acknowledges the terms and conditions of a consent agreement executed by the City at Sanford, Florida, on May 26, 1952 which said agreement was executed by said City in connection with the aforesaid assignment of said lease to Mayfair Inn, Inc. It is agreed between the parties hereto that the provisions of Paragraph 2 and Para- graph 3 thereof are applicable to and became a part of this Instrument and the aforesaid lease dated October il, 1949. In all other respects the pro- visions of said agreement are not operative. 9. Supplementing the insurance indemnification provision of said lease dated October 1 i, 1949, Lessee agrees to carry a policy of Public liability and Property damage insurance in which the limits of liability shall not be less than $100,000.00 per person and $300,000.00 for each accident or occurrence for bodily injury, and $10,000.00 for property damage. Said policy shall name Lessor as co- Insured and shall be insured by such companies as are first approved and acceptable to Lessor. 10. Ouring the remaining term of said lease Lessee is prohibited, without the written consent of Lessor, from cutting or moving any timber -4- or trees, except dead tress, upon the demised premises, and is further prohibited from subleasing any of the areas not now presently occupied by fairways, greens, or building structures. their hands and seals the day and year first above written. Signed, Sealed and Delivered In the presence of: i S C© near Lessor, A a t0 aGe. David M. elchel, Lessee. STATE OF FLORIDA ) COUNTY OF SEMINOLE ) BEFORE ME, the undersigned authority, personally appeared M. L. RABURN, JR. and H. L. WHhLCHEL, Mayor and Clerk, respec- tively, of the City of Sanford, Florida, a municipal corporation, and they acknowledged before me that they executed the foregoing instrument as such officers of said corporation as the act and deed of said corporation, and that they affixed thereto the official seal of said corporation. IN V4TNESS WHEREOF, I have hereunto set my hand and official seal at Sanford, in the County and State aforesaid, thi day of G i v A, D. 1965. C,, foie o orida expires: I -5- j„ . CITY OF SANFORD, FLORIDA The aforesaid lease of October 11, .1949 as the aunt is modified v r: r co by this Instrument constitutes the entire agreement pertaining to such golf course and the same is binding upon the heirs and successors of the portion hereto. � Time is of the essence. o IN 'AITNESS wHERWF, than parties hereto have hereunto set their hands and seals the day and year first above written. Signed, Sealed and Delivered In the presence of: i S C© near Lessor, A a t0 aGe. David M. elchel, Lessee. STATE OF FLORIDA ) COUNTY OF SEMINOLE ) BEFORE ME, the undersigned authority, personally appeared M. L. RABURN, JR. and H. L. WHhLCHEL, Mayor and Clerk, respec- tively, of the City of Sanford, Florida, a municipal corporation, and they acknowledged before me that they executed the foregoing instrument as such officers of said corporation as the act and deed of said corporation, and that they affixed thereto the official seal of said corporation. IN V4TNESS WHEREOF, I have hereunto set my hand and official seal at Sanford, in the County and State aforesaid, thi day of G i v A, D. 1965. C,, foie o orida expires: I -5- j„ . CITY OF SANFORD, FLORIDA STATE OF FLi RIGA ) COUNTY ON SEMlINOLE ) BLFORE ME, the undersigned authority. personally appeared executed DAVID M. O,HELCHL•L. who acknowledged before m t he expressed. the foregoing instrument for the reasons and purposes there IN WITNESS vvNERWF. I have hereunto net my band and official seal at Sanford, in t h e C and State aforesalds this riN �.►P i/ c a • A. t?. 1965. r T Slta x c. S e O tAliEil.� &o_ptMA, sion expires: -_ FL 0 fttfl�'.,•` 0 s�a M r " zQ oa Gi -- 4! U M u. y c iC 4. W C.: -6-