HomeMy WebLinkAbout1386 ' .
, 1881~~
IANDMARK VILIAS, INC.
AND
VILIA D8L SOL, INC.
I.FASB
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THI~ LBASB AGRSEMBNT, executed this ..~'S ~t~ day o
, 191'~, by and between IANDMARR VILIAS, INC a /
Florida Corporation, of Jensen Beach, Florida, hereinafter called the
"Lessor," and VILIA DSL SOL, INC., a non-profit condominium corporation
organized under the laws of the State of Florida, hereinafter called the
"Lessee" of Jensen Beach, Florida
WITNBSSBTH:
Lessor does lease, rent, let and demise, and by these presents
does lease, rent, let and demise unto said Lessee the following described
property.
~ 1. DESCRIPTION. See Schedule "A" hereto attached.
2. TBRM. To have and to hold together with the appurtenances
s~-: o for a term of years commencing on the lst day of July, 1969, and ending
~'O M on the 30th day of June, 2068.
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cv 3. LFASB CONSIDBRATION. Lessee shall pay and does hereby
x,d agree to pay Lessor at such place or places as Lessor may designate from
o~' time to time in writing a lease payment for the use of the described
c~ . ~ oa o
~ premises as follaws; An annual rental of THIRTEBN THOUSAND, TWU HUNDRSD
.b AND 00/100 D(1LIARS ($13,200.00) to be payable THREE HUNDRED DOLIARS
~ ~ " ($300.00) per condaminiwn unit.
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c~ o ca 3.1 The first ent to became due at the time of the
PaYm
s s% ~ delivery of the first Warranty Deed from IANDMARR VILI~?S, INC., as grantor,
j.: o c~v to a third party on one of the condominium units in VILIA Dffi. SOL, INC.
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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 those condaminium
~ units actually sold on the basis of Three Hundred Dollars ($300.00) per
annum per condominium unit. Payments to comnence upon delivery of
the Warranty Deed. (For example: iihen a Warranty Deed is delivered on
the first unit, a$300.00 annual payment will be prorated to the first
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 where a Deed is delivered prior to the first
of July, the rent commencing as a result 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 belot~.
4. USE OF THE PREMISES. It is understood and agreed between
~ the parties hereto that said premises during the continuance of this
~ Lease may be used and occupied onl}•for recreational social purposes and
- such use shall be limited to the use of the members of VILIA DEL SOL, INC.,
~ their families and guests, g~~rsuant to rules and regulations to be
~ promulgated by the Lessee or its successors in interest and suthority.
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aooK 182 ~~.1384 ~
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