Summary:
The City of Orlando and Cyclehop, LLC, "Cyclehop", have entered into a Ride Share Contract whereby Cyclehop operates and maintains a bike sharing system, "Bikeshare", within the City of Orlando. In order to expand the number of bike share stations, "Station", Cyclehop has requested that the City enter into a Lease Agreement with the Florida Department of Transportation, "FDOT", for the installation of a Bike Station along Orange Avenue north of State Road 50 and south of Marks Avenue, within right-of-way owned by FDOT. FDOT has agreed to lease the area to the City with the understanding that the City will then sublease the area to Cyclehop for the installation, operation and maintenance of a Station. Under the terms of a Sub-License Agreement entered into between the City and Cyclehop on the same date as this Lease Agreement, Cyclehop will assume all of the obligations of the City under the terms of the attached Lease. |