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Florida-Palm Beach Gardens-The Wackenhut Center Lease [Amendment No. 1] - PGA Professional Center Ltd. and The Wackenhut Corp.

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  • Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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                            FIRST AMENDMENT TO LEASE

         This First Amendment to Lease is executed this 3rd day of November,

                              B A C K G R O U N D:

         A.      Daniel S. Catalfumo, as Trustee under F.S. 689.071 and The
Wackenhut Corporation entered into that certain Lease dated April 18, 1995, for
the lease of certain space in the building to be known as The Wackenhut Center
in Palm Beach Gardens, Florida.

         B.      Daniel S. Catalfumo, as Trustee under F.S. 689.071 assigned
his interest as Landlord to PGA Professional Center, Ltd. pursuant to
Assignment of Lease dated June 8, 1995.

         C.      Landlord and Tenant desire to modify the Lease as set forth

         NOW THEREFORE, in consideration of the sum of Ten and 00/100 ($10.00)
Dollars and other good and valuable consideration, the receipt and sufficiency
of which is acknowledged, the parties agree as follows:

         1.      Recitals.  The foregoing recitals are true and correct and
                 incorporated herein by reference.

         2.      Landlord and Tenant hereby amend the Lease to delete in its
entirety Paragraph 44 titled Option To Purchase.

 3.      Except as modified herein, the Lease remains in full force and effect
                                and unmodified.

         IN WITNESS WHEREOF, the parties have executed this First Amendment as
of the date set forth above.

                                        PGA PROFESSIONAL CENTER, LTD.
                                        BY:     PGA PROFESSIONAL CENTER, INC.

                                                General Partner

-------------------------                BY:
-------------------------                   Daniel S. Catalfumo, President

                                            THE WACKENHUT CORPORATION
-------------------------                   ------------------------------
                                            Robert C. Kneip, Senior