Sixth Amendment to Rail Line Easement Agreement, among City of Orlando, Greater Orlando Aviation Authority and Brightline Trains LLC (f/k/a All Aboard Florida Operations LLC), dated September 4, 2018

EX-10.17 14 s002218x4_ex10-17.htm EXHIBIT 10.17

Exhibit 10.17
 
SIXTH AMENDMENT TO THE
RAIL LINE EASEMENT AGREEMENT
 
THIS SIXTH AMENDMENT TO THE RAIL LINE EASEMENT AGREEMENT (the “Sixth Amendment”) is made by and among the CITY OF ORLANDO, a municipal corporation created by and existing under the laws of the State of Florida, whose address is P.O. Box 4990, 400 S. Orange Avenue, Orlando, Florida ###-###-#### (the “City”) and THE GREATER ORLANDO AVIATION AUTHORITY, a public and governmental body created as an agency of the City, existing under and by virtue of the laws of the State of Florida, whose mailing address is One Jeff Fuqua Boulevard, Orlando, Florida ###-###-#### (the “Authority”), and ALL ABOARD FLORIDA - OPERATIONS LLC, a Delaware limited liability company authorized to conduct business in Florida, whose mailing address is 2855 LeJeune Road, 4th Floor, Coral Gables, Florida, 33134 (“Rail Company”).
 
W I T N E S S E T H :
 
WHEREAS, City, Authority and Rail Company entered into that certain Rail Line Easement Agreement with an effective date of January 22, 2014 (the “Agreement”), that certain First Amendment To The Rail Line Easement Agreement with an effective date of October 3, 2014 (the “First Amendment”), that certain Second Amendment To The Rail Line Easement Agreement with an effective date of October 26, 2015 (the “Second Amendment”) that certain Third Amendment To The Rail Line Easement Agreement with an effective date of December 21, 2015 (the “Third Amendment”), that certain Fourth Amendment To The Rail Line Easement Agreement with an effective date of January 30, 2017 (the “Fourth Amendment”) and that certain Fifth Amendment to the Rail Line Easement Agreement with an effective date of December 28, 2017 (the “Fifth Amendment” and all collectively known as the “Amended Agreement”); and
 
WHEREAS, City, Authority and Rail Company entered into that certain Escrow Extension Agreement with an effective date of December 23, 2015 (the “Original Escrow Extension Agreement”), as amended by that certain First Amendment to Escrow Extension Agreement with an effective date of January 30, 2017 (the “First Amendment to Escrow Extension Agreement”), as further amended by that certain Second Amendment To Escrow Extension Agreement (the “Second Amendment to Escrow Extension Agreement”);
 
WHEREAS, the Original Escrow Extension Agreement, as amended by the First Amendment to Escrow Extension Agreement and the Second Amendment to Escrow Extension Agreement is hereinafter referred to as the Escrow Extension Agreement; and
 
WHEREAS, pursuant to that certain Amended and Restated Operation and Use Agreement dated August 31, 2015, the Authority controls, operates, and maintains an airport in Orange County, State of Florida, known as Orlando International Airport (hereinafter referred to as the “Airport”); and
 
WHEREAS, the parties desire to amend the Agreement to extend the Escrow Term (as defined in the Agreement).
   
 
City Council Meeting: 9-4-18
 
Item: K-5 Documentary: 180904K05
 
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NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein set forth, and other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby expressly acknowledged, the parties hereto covenant and agree as follows:
 
1.          Recitals. The foregoing recitals are true and correct and are hereby incorporated as covenants and agreements and are made a part hereof.
 
2.          Definitions. Capitalized terms shall have the meaning ascribed to them in the Amended Agreement.
 
3.          Paragraph 6: Closing Procedures. The first two sentences of Paragraph 6(b) of the Agreement are hereby deleted in their entirety and replaced with the following:
 
(b) The conditions to be satisfied in order to release the escrow documents are set forth in Exhibit “11” hereto (the “Escrow Conditions”). Closing Agent shall hold all Escrow Documents in escrow from the date hereof until the earlier of the following dates (the “Escrow Term”): (i) the satisfaction or waiver (any such waiver to be in the sole discretion of the waiving party) of the Escrow Conditions or (ii) December 31, 2018, as such date may be extended pursuant to the terms hereof or as may be amended by the parties in writing (the “Escrow Termination Date”). In return for the above extension, the Rail Company shall fund the Aviation Authority Owner’s Authorized Representative (“OAR”) team in an amount equal to $2,950,000.00 (“OAR Funding”). Rail Company shall pay one third of the OAR Funding to the Aviation Authority prior satisfying the Escrow Conditions and thereafter one third of the OAR Funding on the second and third anniversary of satisfaction of the Escrow Conditions.
 
4.          Modification. Except as expressly amended and supplemented in the Amended Agreement and in this Sixth Amendment all other terms of the Amended Agreement shall remain in full force and effect as originally executed.
 
[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK]
 
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IN WITNESS WHEREOF, the parties hereto have each caused this First Amendment to be executed by its authorized representative on the date so indicated below.
           
     
“GOAA”
 
     
GREATER ORLANDO AVIATION AUTHORITY
 
ATTEST:
         
   
By:
/s/ Phillip N. Brown
 
/s/ Dayci S. Burnette-Snyder
   
Phillip N. Brown, A.A.E.,
 
Dayci S. Burnette-Snyder,
   
Chief Executive Officer
 
Assistant Secretary
       
Date: 6/11/, 2018
       
           
TWO WITNESSES:
 
APPROVED AS TO FORM AND LEGALITY this 15th day of June, 2018, for the use and reliance by the GREATER ORLANDO AVIATION AUTHORITY, only.
   
/s/ Jinilun Park
 
Printed Name:
Jinilun Park
 
           
/s/ Milagra Fizagosa
 
Marchena and Graham, P.A., Counsel.
 
Printed Name:
Milagro Fizagosa
   
     
By:
/s/ Marchena and Graham, P.A.
 
       
Marchena and Graham, P.A.
 
STATE OF FLORIDA
COUNTY OF ORANGE
 
Before me, the undersigned authority, duly authorized under the laws of the State of Florida to take acknowledgments, this day personally appeared Phillip Brown and Dayci S. Burnette-Snyder respectively Chief Executive Officer and Deputy Director of the Greater Orlando Aviation Authority, who are personally known to me to be the individuals and officers described in and who executed the foregoing instrument on behalf of said Greater Orlando Aviation Authority, and severally acknowledged the execution thereof to be their free act and deed as such officers and that they were duly authorized so to do.
 
In witness whereof, I have hereunto set my hand and official seal at Orlando, in the County of Orange, State of Florida, this 11 day of June, 2018.
         
   
/s/ Alba L. Bueno
   
My commission expires:
 
Notary Public
       
July 19, 2019
 
NOTARY PUBLIC
STATE OF FLORIDA
ALBA L. BUENO
Notary Public - State of Florida
Commission # FF 901067
My Comm. Expires Jul 19, 2019
Bonded through National Notary Assn.
 
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Brightline Trains LLC Fka
 
         
ALL ABOARD FLORIDA - OPERATIONS LLC
                   
ATTEST:
     
By:
/s/  Kolleen Cobb
 
                   
Printed Name:
   
Printed Name:
Kolleen Cobb
 
                   
Title:
       
Title:
Vice President
   
                   
             
Date: May 31st, 2018
 

TWO WITNESSES:
 
   
/s/ Brianna Hernandez
 
Printed Name:
Brianna Hernandez
 
     
/s/ Maria V. Rincon
 
Printed Name:
/s/ Maria V. Rincon
 
     

STATE OF FLORIDA
)
COUNTY OF MIAMI-DADE
)
 
The foregoing instrument was acknowledged before me this 31st day of May, 2018 by Kolleen Cobb, as Vice President of All Aboard Florida – Operations LLC, a Delaware limited liability company, on behalf of the limited liability company. He/She is personally known to me or produced a valid driver’s license as identification.
         
 
BRIANNA CARI HERNANDEZ
     
NOTARY PUBLIC
State of Florida-Notary Public
 
/s/ Brianna Hernandez
STATE OF FLORIDA
Commission # GG 184603
 
Notary Public
 
My Commission Expires
 
Print name:
Brianna Hernandez
 
February 11, 2022
     
My commission expires:
     
 

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CITY OF ORLANDO, FLORIDA, a Florida municipal corporation
ATTEST:             
By: /s/ Denise Aldridge  
By:
/s/  Regina I. Hill
 
Printed Name:
Denise Aldridge
 
Printed Name:
Regina I. Hill
 
Title:
City Clerk
 
Title:
Mayor Pro Tem
 
                   
[Official Seal]
 
Date:
September 4, 2018
 
 
         
TWO WITNESSES:
 
APPROVED AS TO FORM AND LEGALITY FOR THE USE AND RELIANCE OF THE CITY OF ORLANDO, ONLY, THIS 4 DAY OF September, 2018.
     
/s/ Elizabeth Davidson
 
Printed Name:
Elizabeth Davidson
 
 
             
/s/ Lesley Smith
 
By:
/s/ Roy Payne
Printed Name:
Lesley Smith
 
Title:
Chief Asst. City Attorney
     
Printed Name:
Roy Payne
 
 
City Council Meeting: 9-4-18
 
Item: K-5   Documentary: 180904K05
 
 
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