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• 10. Lessor leases the premises above described
rrom Arnold Enterprises, Inc., a Florida corporation
with offices at- 124 Palmer Aven~ie, Mamaronecjc, New York
("Arnold" ) by a I~ease Agreement oi' M3y 1, Iy62, a memorandum
of which is filed in T~ok 11, p3~e 63, of the Official
Reeords ot St. Lucie Cour~ty, Florida (the "Base Lease").
Under the terms of said Base Lease Lessor herein has an
option to renew the Base I,ease i'or an additional term of
ten years from D~cember 2, 1976, at a monthly rental of
~575•00 per month. Said option is exercisable upon 120~
days' prior written notice. Lessor hereby assigns unto
Lessee its right and interzst in said renewal option upon
the following specific conditions:
(1) Lessee shall notify Lessor not more than ~
210 days and not less than 150 days prior to the expiration
of this Sublease Agre~ment of its d~sire to renew the
Base Lease with Arnold at a rental of $575.00 per month
for an additional term of ten years beginning December'3,
1976;
(2) Lessor shall, within 30 days of r•eceipt
of such notification from Lessee, assign a11 of Lessor~s
right, title and interest in and to the premises, the Base
Lease with Arnold, and any improvements and equipment upon
. the premises, unto Less~e, and Lessee shall seek and obtain
the consent of Arnold to such assignment and the release
by Arnold, of Lessor of and from any further obligation or
liability under the Base Lease.
(3) Lessee shall thereafter assUme all
rurther obligations under ~he Base Lease including the
obligation to notify Arnold of Lessee's exercise of the
option to rene~~ therein and the obligation to pay rent
directly to Arnold. -
11. Lessee shall have the right to sublet the~
premises hereby leased, in whole or in part, a~ any time
during the term of this Lease or any extension or renewal
thereof without obtaining the consent of Lessor. The sub-
letting of said premises shall not reiease-the .Less~e- -f'rom_____
• its obligation to pa~ rentals as hereinabove provided.
. ,
~ -12. All notices required or which may be given
- hereunder shall be consider•ed as properly given if delivered
in writing, personally, or sent by Certified United States
Mai2, postage prepaid with retarn receipt requested, addressed ~
to Lessor or to Lessee at the respective addresses first
above shown. Notice served by rnail shall be deemed given
on the date on which such notice is deposited in the United
States Mail.
13. This instrument incorporates all of the
obligations of the parties hereunder and there are no oral
agreements or understandings between the parties concerning .
the property covered by ~his Lease Agreement. .
.
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