Relax Grill has leased the open air cafe located within Lake Eola Park for the last five years. The lease will expire on August 31, 2014 and Relax Grill has requested to renew the term. Terms of the new lease are detailed in the attached Lease Agreement and summarized as follows:
Term shall be three (3) years commencing on September 1, 2014 and ending on August 31, 2017. If the parties agree, the Lease may be renewed for up to two (2) additional terms of one-year (1) each. Rent for the cafe shall be comprised of base rent of $1276.28 per month and percentage rent of eight percent (8%) of monthly gross sales. Rent for the office space shall be an additional $210.00 per month. All rents shall increase five percent (5%) per year. The City may terminate the Lease at its convenience upon 90 days notice.