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HomeMy WebLinkAbout0032 ~ + . 32~g~ ~ MEb~IORANDUM OF LEASE AGREEMFNT THIS MEMORANDUD4, made and entered into this day of June, 19? 5, by and between SUN BANKS OF FLORIDA , INC P. O. Box 2848 , Orlando , Florida 32802 , a Florida corporation , hereinafter referred to as "Lessor" , and SUN BANK OF FT. PIERCE, P. O. Box 2148, Ft. Pier.ce, Florida 53450, a state banking corporation organized under the laws of the State of Florida , hereinafter referred to as "Lessee" . WITNESSETH: WHF.REAS , Lessor and Lessee did make and enter into a written lease ~gree- ment dated the lst day of Oetober , 1974; and WHEREAS , by the terms of seid lease agreement above referred to T.essor . did lease to Lessee the following described real property situate, lying and being ~ in the County of St . Lucie ~ State of Florida , to-wit: ~ The West 383.00 feet of the Easterly 1259.90 feet as measured ~o at right angles to State Road No. 5, of that portion of the South u., Half of South West 1/4, Section 15, Township 35 So~th, Range '0 40 East , Fort _Pierce , St . Lucie County , Florida , lying West of ~ State Road No. 5, less the South 130 feet thereaf (Right of Way ~ for Virginia Avenue) , APPRAIc,E~S . ,r ONLY ~ " o~y15~J• ~l- C~ ~ together with all structures and fixtures thereon, hereinafter called "Premises"; and J, o ~ - N WHEREAS , the parties are desirous of executing this Memorandum of Lease ~ ~ for recordation purposes. ~ ~ ~ o s~ ° NOW , THEREFORE , in consideration of the premises , the parties do hereby r.. . confirm and ratify that certain lease agreement above referred to, the terms and - provisions of which are incorporated herein by ~ieference thereto , which lease ; v~ agreement provides in part as follows: ; . ~ t ~ 1. Original Term . The original term of the lease commences on the lst day ; of October , 1974 , and shall end at 11'Iidnight on the 30th day of September , 1979. ~ N ~ 0 2. Renewals . Under the aforesaid lease , the Lessee is granted the right ~ v~ and option to renew the lease for up to five additional , consecutive five-year ; . ~ ~ C renewal terms following the five-year`original term of the lease. In the event the ~ Lessee exercises its option to renew the lease for the fifth renewal term , the Lessee ~ is also granted the right and option to lease all or part of the premises for such 3 ~ additionai periods and on such terms and conditions as may be mutually agreed ~ upon by the Lessee and Lessor . Pursuant to such right of first refusal , the Lessee ~ ~ must be given not less than thirty (30) days in which to accept or reject the Lessor's ~ N offer , which offer shall be subrnitted to the Lessee in writi.ng not less than sixty (60) ~ ~ days prior to the expiration of the final renewal term . If written acceptance of the ~ offer is not received by the Lessor within said thirty (30) days , then the lease and # ~ all ~ights of the Lessee thereunder terminate and cease. If the Lessee exercises its right of first refusal and continues to lease all or part of the premises covered by ~ the lease, then the Lessee is granted a similar right of first refusal, as to that portion ~ of the~ premises that the Lessee continues to lease, at the end of the additional rental „ term resulting from the Lessee's initial exercise of its right of first refusal. S y ~ 3. Option to Purchase . Under the aforesaid lease , the Lessee is granted ~ the option during any term of the lease to purchase the described premises at the option purchase price described in the lease , plus all costs of closing , in cash . ~ ~4 yn ~ ~ 0 ~ ~ ~OGi( ~`;~S PACE ~ - . ~ ~ ~ ~ _ ~ - - ~ : _ ~ _ _ _ R~