Opinion ID: 1735146
Heading Depth: 3
Heading Rank: 3

Heading: Terms of the original lease

Text: ¶ 4. Bill Edwards, as Executive Director of the Port Authority, negotiated the terms of the original lease. The lease allowed Gulfside to locate a pre-approved vessel on and make pre-approved improvements to the leased premises. The original lease allowed the Copa to operate at a temporary location on the East Pier, north of the permanent site, until improvements at the permanent site were complete. ¶ 5. The primary term of the lease was five years, and Gulfside had the option to extend the lease for three renewal periods of five years each. ¶ 6. Article XII, entitled IMPROVEMENTS BY LESSEE, required Gulfside to make improvements, alterations and additions to the leased premises, including improvements to the berth area, land-side area, and parking area. The improvements were listed not in the body of the lease itself, but, instead, in an exhibit to the lease. Gulfside was also required to construct a land-side dining and entertainment complex consisting of at least twenty thousand (20,000) square feet within five years from the date of issuance of the Copa's gaming license, and to submit plans and specifications to the Port Authority for review and approval prior to construction. ¶ 7. Article XII(2) required Gulfside to submit plans and specifications to the Port Authority for its approval in order to make any improvements exceeding $25,000 in cost. ¶ 8. The lease contained a cancellation provision whereby the Port Authority could cancel the lease at any time after the expiration of the Primary Term of [the] Lease for reason of Port expansion of its own facilities to handle expanded shipping and related commerce activities, unrelated to any business or enterprise which may compete with LESSEE's operations,....