Letter of Agreement Amending Master and 2010 Annual Rental Pool Lease Agreements between Innisbrook Lessors’ Advisory Committee and Salamander Innisbrook, LLC

Contract Categories: Business Finance › Modification Agreements
Summary

This agreement between the Innisbrook Lessors’ Advisory Committee and Salamander Innisbrook, LLC amends certain terms of their Master Rental Pool Lease Agreement and the 2010 Annual Rental Pool Lease Agreement. The amendments clarify the binding period of the agreement, specify the use of the Carpet Care Reserve, and, for 2010 only, allow additional occupancy nights for certain lessors and adjust the Carpet Care Reserve percentage. The agreement was signed on September 10, 2009, and applies to the specified lease years and conditions.

Read More Arrow
EX-10.1 3 dex101.htm LETTTER OF AGREEMENT Lettter of Agreement

Exhibit 10.1

LETTER OF AGREEMENT

By and Between

INNISBROOK LESSORS’ ADVISORY COMMITTEE

and

SALAMANDER INNISBROOK, LLC

The Innisbrook Lessors’ Advisory Committee and Salamander Innisbrook, LLC agree on the following amendments to the Master Rental Pool Lease Agreement:

 

  1. Paragraph 2.1 first sentence to read “The terms and conditions of this Agreement shall be binding upon the parties hereto for each calendar year for the years 2002 through 2013.”

 

  2. Paragraph 1.6 “Carpet Care Reserve” last sentence to read “Said Carpet Care Reserve shall be deposited in the Innisbrook Lessors’ Escrow Account and used only for carpet cleaning and carpet deodorizing.”

In addition, we agree on the following amendments to the 2010 Annual Rental Pool Lease Agreement:

 

  1. For 2010 only, to allow an additional 7 nights of Lessor Occupancy during the defined In-Season for B-Status Lessors.

 

  2. For 2010 only, Paragraph B.4 of the Annual Rental Pool Lease Agreement, “The Carpet Care Reserve shall be 1.5% of the amount of Occupancy Fees deposited to the Lessor’s Escrow Account.

Dated at Innisbrook, Florida, this 10th day of September, 2009.

 

Innisbrook Lessors’ Advisory Committee     Salamander Innisbrook, LLC
By  

    By  

  Ceril Shagnn       Chuck Pomerantz
  Chairperson       Vice President and Managing Director