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MOTION TO APPROVE THE SECOND AMENDMENT TO LEASE AGREEMENT BETWEEN CITY OF PEMBROKE PINES AND CCTM2 LLC. (“TENANT”) TO ADD TWO (2) ADDITIONAL FIVE (5) YEAR RENEWAL TERMS TO THE AGREEMENT BEYOND THE CURRENT TERM EXTENDING ITS TOTAL TERM TO MARCH 27, 2043 AND TO EXPAND THE SIZE OF THE PREMISES BY 360 SQUARE FEET FOR A TOTAL OF APPROXIMATELY 1,512 SQUARE FEET. (828548 - 901 NW 155 AVE, PEMBROKE PINES, FL 33028).
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. The City and T-Mobile South LLC, a Delaware limited liability company (“T-Mobile”), entered into a Lease Agreement dated July 9, 2008 (as amended and assigned, the “Agreement”), whereby City leased to T-Mobile a portion of land being described as a 480 square feet portion of that property (said leased portion being the “Premises”) located at 901 NW 155th Avenue, Pembroke Pines FL 33028 at the Towngate Park. CCTM2, LLC is successor in interest in the Agreement to T-Mobile.
2. The term of the Agreement commenced on March 28, 2008, and has an original term, including all Renewal Terms (as defined in the Agreement), that will expire on March 27, 2033 (“Original Term”).
3. City and Tenant now desire to amend the terms of the Agreement to provide for two (2) additional five (5) year Renewal Terms beyond the Original Term extending its total term to March 27, 2043, unless sooner terminated as provided in the Agreement. The Agreement shall be renewed upon mutual consent and written agreement by the parties.
4. City and Tenant entered into that First Amendment to Lease Agreement dated April 2, 2014, which expanded the size of the Premises to be approximately 1,152 square feet, as evidenced by that Amended and Restated Memorandum of Lease Agreement dated April 2, 2014.
5. Tenant is requesting from the City an additional 360 square feet of land as shown and described in exhibi...
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