069-Maece Taylor Third Amdmt to Golf Course LeaseThird Amendment To, Golf Course Lease Agreement Between The City
Of Sanford And Maece Taylor, Inc. Relating To Mayfair Golf Course
This Third Amendment (the "Third Amendment ") to that Certain document styled
"Golf Course Lease Agreement" between the City of Sanford (the "City ") and Maece Taylor,
Inc. (the "Lessee "), dated September 27, 2007 (hereinafter referred to as the "Golf Course
Agreement "), as amended, is made and entered into by the City and the Lessee.
RECITALS:
Whereas, the Lessee and the City entered into the Golf Course Agreement; and
Whereas, Article VIII B of the Golf Course Agreement provides that amendments to
the Golf Course Agreement may on be made by formal written amendment to the Golf
Course Agreement to which the parties mutually agree in writing; and
Whereas, the Lessee and the City amended the Golf Course Agreement ( "First
Amendment ") by virtue of that certain document executed by the Lessee on September
15, 2008 and the City on October 8, 2008, which First Amendment related to the provisions
of Article II C relative to equipment (golf carts); and
Whereas, the Lessee and the City amended the Golf Course Agreement ( "Second
Amendment ") by virtue of that certain document executed by the Lessee on April 15,
2009, and the City on April 29, 2009, which Second Amendment related to the provisions
of Article III C relative to payments by the Lessee to the City, and
Whereas, the parties are desirous of further amending the Golf Course Agreement
by amending Article III C. of the Golf Course Agreement to provide for the revision of the
schedule of payments to be made by the Lessee to the City and to state the history of
payments made to date.
Now, Therefore, in consideration of the mutual covenants and agreement herein
made and other good and valuable consideration, the receipt and sufficiency of which is
acknowledged, the Lessee and the City agree as follows:
Section 1. Incorporation of Recitals. The above recitals (whereas clauses) are
true and correct and are incorporated herein by reference.
Section 2. Amendment2 to Article III C /Payment to Lessee. The provisions of
Article III C. of the Golf Course Agreement are hereby amended to read as follows:
"(C). The parties agree that the City shall receive from the Lessee five percent
(5 %) of the gross revenues from the subject Property, including its Golf Course, Club
1 The history of payments shall also be restated herein in order to provide the parties with a summary of payments
made as of the time that this Third Amendment is entered by the parties.
2 See Footnote 1.
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House, and Pro Shop, which shall include, but not be limited to, green fees, concessions,
room rentals, handicapping, merchandise sales, tournaments fees, driving range charges,
golf cart rentals, and club /baggage rentals. Provided, further, that revenues received from
golf lessons and golf clinics are excluded. Payments owed by the Lessee to the City
pursuant to this provision shall be made to the City, without demand, as follows:
(1). Payment for gross revenues due for the period from September 27, 2007
through December 31, 2008):
(a). $35,000.00 on or before April 13, 2009 (which payment has been
accomplished);
(b). $6,000.00 on or before each of the following dates: June 1,
2009; July 1, 2009; August 1, 2009; September 1, 2009; and
October 1, 2009 (all of which payments have been accomplished);
(c). $9,311.00 on or before November 1, 2009 (which payment has been
accomplished); and
(d). $2,000.00 on or before December 1, 2009 for estimated City legal
expenses (which payment has been accomplished).
(2). Payments by the Lessee to the City for gross revenues due for the period of
calendar year 2009 shall be made in accordance with the following schedule:
(a). $35,000.00 by April 30, 2010.
(b). $4,411.00 by June 20, 2010.
(c). $4,411.00 by July 20, 2010.
(d). $4,411.00 by August 20, 2010.
(e). $4,411.00 by September 20, 2010.
(f). $4,411.00 by October 20, 2010.
(g). $4,411.00 by November 20, 2010.
(h). $4,412.67 by December 20, 2010.
(3). Additional City legal fees shall be paid by the Lessee to the City by the
Lessee on or before December 20, 2010 in the amount of $2,000.00.
(4). Payments for calendar years 2010 and beyond:
(a). Two and one half percent (2.5 %) of each month's gross revenues
commencing January, 2010 with payment due on or before the Twentieth
day of the following month in addition to the schedule of payments for 2009
revenues above in (2)
(b). The remainder of the five percent (5 %) of annual gross revenues on
or before the last day of March commencing in March, 2011.
(b). Five percent (5.0 %) of each month's gross revenues commencing
January, 2011 with payment due on or before the twentieth day of the
following month and on the same day of each and every month thereafter.
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(5). Without limiting the generality of any provision relating of any document
relating to any obligation of payment by the Lessee to the City, the Lessee's
obligation to pay ad valorem taxes shall be a continuing and unqualified
obligation of the Lessee.
(6). All other payments required to be made by the Lessee to the City shall be
made in accordance with any requirement set forth in any document.
Section 3. Effect of Third Amendment. This Third Amendment shall take
effect upon full execution hereof by the City and the Lessee. All other terms and conditions
of the Golf Course Agreement, as previously amended, shall apply and continue in effect
and the Golf Course Agreement, as previously amended, and this Third Amendment to the
Golf Course Agreement shall be read in harmony and in pari materia.
In Witness Whereof, the Lessee and the City have caused these presents to be
executed in manner and form sufficient to bind them as of the day and year first above
written.
r- Attest:
itn ss Nu e 1
ess Number 2
State Of Florida )
County Of Seminole
Lessee aece Taylor, Inc.
By :'David S. Phillips
Sole Corporate Officer
Acknowledgment
The foregoing instrument was sworn before me this ,,?, , ) day ofAZZ 2010, by
David S. Phillips, sole corporate officer of Maece Taylor, Inc., who i r�ersonaII known�3
me or who has produced his drivers licenses (number s
identification and who did take an oath.
NOTARY PUBLIC
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Attest:
Janet ity CI r k
For the use and reliance of City of Sanford
only. Approved as to form and legal
uffic' cy. 41
illiam L. Colbert, City tt ney
City Of Sanford
By:
Linda Ku n, Mayor
Date: L 1 - z- o