Items Types:
Business and Financial Services
For Meeting of:
November 3, 2014
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Consent to Assignment of Amended and Restated Lease Agreement for Tropical Smoothie Café located at 63 West Washington Street from JCM Panco Corporation (Assignor) to INDMEX Inc (Assignee)


With the City’s consent, the Amended and Restated Lease Agreement for the operation of Tropical Smoothie Café at 63 W Washington St, dated July 31, 2008 (Lease) was assigned to JCM Panco Corporation under the Assignment of Lease dated April 23, 2012 between M&M Smoothie and JCM Panco Corporation.   


JCM Panco Corporation has agreed to sell its business to INDMEX Inc and assign the Lease and security deposit under the terms and conditions set forth in the attached Assignment of Lease (Assignment) and other agreements between the parties. The Assignee shall assume all rights and obligations under the Lease and shall also provide a Lease Guaranty as if it was the original tenant.  The Assignor shall remain liable under the Lease Guaranty dated April 14, 2014 until the expiration of the Lease term, which ends June 30, 2018.  All terms and conditions set forth in the original Lease which includes an Addendum to Lease with Tropical Smoothie Franchise Development Corporation (Franchisor) shall remain in full force and effect.  The City is not a party to the Assignment however, City and Franchisor consent to the Assignment as required.  

Fiscal & Efficiency Data: No change 

Recommended Action:
Approval and authorization for the Mayor/Pro Tem and City Clerk to execute the Consent to Assignment substantially in the form attached, which shall be subject to the review and approval of the City Attorney's Office

Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Tonie McNealy
Approved By:

Department Date and Time
Budget Outside Routing Approval 10/8/2014 4:43 PM
City Clerk 10/8/2014 5:23 PM

Name: Description: Type:
JCM_Panco_Assignment_of_Lease_to_Indmex_10-07-14.doc Assignment and Consent Backup Material
BFS-JCM_Panco_Assignment_of_Lease_to_Indmex_10-10-14.pdf Assignment and Consent Backup Material

"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."