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Developers Winning Contract Fight With Online Bank Rate Publisher

NORTH PALM BEACH, FL-Locally-based Bankrate Inc. doesn't deny signing a 10-year, 40,000-sf lease for a new headquarters at Abacoa Business Park in Jupiter, FL, but argues the space wasn't ready when it wanted to move in. That voided the contract, the tenant maintains. North Palm Beach is 90 miles north of Downtown Miami.

By Alex Finkelstein | Updated on November 21, 2000

NORTH PALM BEACH, FL-Palm Beach County Circuit Court has more than presidential election ballot snafus to contend with these days. A tenant-landlord dispute over a 10-year, 40,000-sf lease is also on a lawsuit-clogged docket. North Palm Beach is 90 miles north of Downtown Miami.

Developers Bruce Rendina and George deGuardiola, however, appear to have won the first round. They already have been paid $300,000 from a letter of credit that locally-based Bankrate Inc. issued to a local bank to guarantee the space at the Abacoa Business Park in nearby Jupiter, FL. Now the developers are suing for an additional $500,000 plus legal fees.

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