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Consent to Mortgage of Leasehold Interest With Valley National Bank and Lotion on the Ocean LLC, for Property Located at 15480 Aviation Loop Drive at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
Airport staff is respectfully requesting approval of a Consent to Mortgage of Leasehold Interest for Lotion on the Ocean, LLC. The leasehold is located within the airport industrial park. The lender (Valley National Bank) recently has made, or is in the process of making, a mortgage loan to the lessee and the lender wishes to be assured that it can assume and make payments to the lessor in the unlikely event of default by the lessee.
FINANCIAL IMPACT
No financial impact.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached Consent to Mortgage of Leasehold Interest with Valley National Bank and Lotion on the Ocean, LLC.