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The~Lessee does hereby agree that it will for itself (and if
required bg the mortqaqeea) and/or as agent for a21 of the condo-
minium unit owners of the Condominium, and for each of their ~
spouses and for each owner of any other interest in the property ~
of the condominium forthwith subordinate its and/or their res- ~
pective interests in and to the demised premises and this lease ~
to any such mortgage or mortga~gea by.an instrument of subordin- i
' ation or by joinder as mortgagor in such mortgage, provided that ~
by such joinder the Lessee and/or the principals for which it sha 1 ~
have acted as aqent shall not assume the obligations of the
mortgagor, as the mortgagee may require, subject always to ~ ~
Lessee's riqht to use,~ 9ecupy and enjoy the demised premises in
accordance with the provisionssof this lease so long as it shall ~
perform all of-its promises and covenants as herein provided.
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3. Assi nment. The Lessor may freely assign in whole i
or in part al or any of its right, title and interest in and f
to this lease and-the demised premises. ~ - ~
10. LESSES'S RIGHT TO ASSTGN AND $NCUMBER. The Lessee ~ ~
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shall have no rig O mortqage or o erwise encumber any of its y ~
right, title and interest in and to this lease or the demised ~ ~
premises nor shall it have ~y right to assign the same or any j ~
part thereof except: (a) upon termination of The Condominiwn !
the Lessee's interests in the leasehold created herein shall be ~
. distributed to u~lit owners as a common element of The Condominiwa f
and as an asset of the Lessee as its Association and the unit ~
- owners shall thereupon jointly and severally comprise the Lessee. ~
11. EMINENT DOMAIN. ~
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1. As to Demised Premises. ~ ~
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(a) Total Takin If during the term of this lease~ '
the entire demised prem~.ses s all be taken as a result of the ~
! exercise of the power of eminent domain, herein called "pro- i
E ceeding", this lease and all right, title and interest of the ;
I Lessee hereunder shall cease and come to an end on the date of ?
E the veating of title pursuant to such proceeding and the Lessor ~
shall be entitled to and shall receive the total a~ard made in
~ such proceeding and the Lessee hereby abaolutely assigns such
' award to the Lessor. ; ~
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(b) Partial Takin . If during the term of this ;
lease less than the ent re emised premises shall be taken in ~
any such proceeding, this lease ahall terminate as to the part
so taken and the Lessor shall be entitled to and shall receive ~
the total award made in ~ny such proceeding and the Lessee hereby !
assiqns such award to Lessor but the Lessee, in such case cove-
nants and agrees that at Lessee's sole cost and expense (subject
to reimbursement hereinafter provided) gromptly to restore, ~
repair and replace those portions of the buildings on the demised ~
premises not so taken to camplete architectural units and replace ~
~ buildings totally taken for the use and occupancy of the lessee
~ as in this lease expreased. The Leasor agrees in connection with ;
such restoration to apply or c~uae to be applied the net amount
~ of any award or damage to the building or buildings on the de- ~
mised p=emises that~may be received by it in any such proceeding
. toward the cost of such resbration and replacement (but the :
amount so applied shall not, however, include the cost in any ~
~ alteration, construction, ahange or improvement the Lessee may ~
E~t d GRANOOFF desire to make that ia not necessary to restore that portion of ;
~,~.,~~~~5 AT LAW..r.A the buildings not so taken to a eomplete architectural unit or i
Po,,x.,,Z I replace buildinqs totally taken of substantially the same use- ;
BAYSHORC ~~~o~N. I fulness, design and construCtion as itaanediately before such taki , }
SHOPPINO C[NTQN ~ . .
PA~DENTON. iIORIDA ~
»SOS
~iLEPHOK[ •1~J33•2674 ~ '
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