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IANDMARK VILIAS~ INC.
AND
VILIA DSL SOL, INC.
LFASB
THIS LBNSB AGBBBMSNT, executed thia day of
, 19 , by and beL~een UNDMARK VILIAS, INC., a
Florida Corporation, of Jensen Beach, Florida, hereinafter called the
"Lessor," and VILIA DBL SOL, INC., a non-profit condominium corporation
organized under the laWS of the State of Florida, hereinafter called the
"I.essee" of Jensen Beach, Florida
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WITNBSSBfH: ~
Lessor doea lease, rent, let and demise, and by these preaents ~
does lease, rent, let and demise unto said Lessee the folloWing described i
property. ~
1. DESCRIPTION. See Schedule "A" hereto attached.
2. TBRM. To have and to hold together with the appurtenances
for a term of yeare commencing on the let day of July, 1969, and ending
on the 30th day of June, 2068.
3. LFASB CONSIDBRATION. Lessee shall pay and does hereby
agree to pay Lessor at such place or places as Lessor may designate from
time to time in writing a lease payment for the use of the described ~
premises as follawe: An annual rental of THIRTEEN THOUSAND, TWO HUNDRED
AND 00/100 DOLIARS ($13,200.00) to be payable THRBB HUNDRBD DOLLARS
($300.00) per condaninium unit.
; 3.1 The firet payment to became due at the time of the
~ delivery of the firat Wa?rranty Deed from IANDMARK VILIAS, INC., as grantor,
~ to a third party on one of the condominium units in VILIA DSL SOL, II~TC. ;
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~ 3.2 The first payment to be prorated to the first day
of the folloWing July, a nd thereafter payments to be due on or before
~ the first day of July annually, for the balance of the term of the Lease.
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~ 3.3 The Lessee will pay rental based on thoae condominium
units actually sold on the basis of Three Hundred Dollars ($300.00) per
• annum per condominium unit. Payments to co~ence upon delivery of
~ the f~larranty Deed. (For example: When a Warranty Deed is delivered on
~ the firet unit, a$300.00 annual payment Will be prorated to the firat
~ day of July When a full $300.00 payment will be due.) As more Deeds are
~ delivered for units, the annual rental Will go up $300.00 per annum for
each deed so delivered, and vhere a Deed is delivered prior to the first
of July, the rent commencing ae a reault of said delivery shall be pro-
rated to thc first of the next July.
~ 3.4 Rental is subject to increase in accordance with the
~ provisions of paragraph 25 below.
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a 4. USE OF THB PREMISES. It is understood and agreed between
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the parties hereto that said premises during the continuance of this
~ Lease may be used and occupied only for recreational social purposes and
~ auch uae shall be limited to the use of the members of VILIA Dffi. SOL, INC.,
~ their families and guaste, pursuant to rulea and regulations to be
~ promulgated by the Leesee or ite succeaeors in intereat and authority.
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