Lease Agreement, building site at Rotary Park

The City of Port St. Lucie, Florida, has entered into a lease agreement with the Police Athletic League, Inc. (PAL) for a building site at Rotary Park. The lease is for a term of 25 years, with a 25-year renewal option, at an annual rent of $100. The PAL is responsible for constructing improvements to the leased site, obtaining necessary permits and approvals, and maintaining the property. The lease includes provisions for termination, indemnification, and insurance. The key aspects of this contract include the lease terms, rent, and responsibilities of the PAL. • The lease term is 25 years with a 25-year renewal option. • The annual rent is $100. • The PAL is responsible for constructing improvements to the leased site. • The PAL must obtain necessary permits and approvals. • The PAL must maintain the property. • The lease includes provisions for termination, indemnification, and insurance.