THIS
TERMINATION OF LEASE (this “Termination”) is made as of
the 4 th
day of
January, 2007, by and between 7007 Palmetto Investments,
LLC, a Florida limited liability company
(“Landlord”), and SBS Miami Broadcast Center,
Inc., a Delaware corporation (“Tenant”).
A. Pursuant
to that certain Lease, dated as of October 25, 2006 (the
“Lease”), Landlord has leased to Tenant and Tenant has
leased from Landlord that property and the improvements situate
thereon at 7007 N.W. 77 th
Avenue, Miami,
Florida, together with a parcel of vacant land adjacent to, all as
more particularly described in the Lease (the
“Premises”).
B. Landlord
and Tenant desire hereby to terminate the Lease upon the terms,
covenants, conditions and provisions hereinafter set
forth.
NOW,
THEREFORE, in consideration of the sum of TEN & NO/100 DOLLARS
($10.00) and other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, Landlord
and Tenant hereby agree as follows:
1.
Incorporation of Recitals . The foregoing Recitals are true
and correct and are incorporated herein by this reference, as if
set forth in their entirety.
2.
Termination . The parties hereby terminate the Lease as of
January 4, 2007 (the “Termination Date”). As of
the Termination Date the Lease shall be null and void and of no
further force and effect, and neither party shall have any further
rights, liabilities or obligation thereunder (except as specified
in this Termination Agreement).
3.
Mutual Release . In cons
