Loading...
HomeMy WebLinkAbout0339 ( . ~ ~ i . , ~ i- i ~ + ~ } i (a) Certain Takin a Not Included. Neither a taking ' of le$s than fee s p e . e nor a a ng o 10 per cent or ~ lesa of the living unita contained upon said lands immediately ~ prior to the time of takinq shall be construed or considered as ; a taking within the provisio~s of . For the purpose of this~ ~ section , a taking of a condominium unit shall be a taking ~ where at least 60 per cent of the floor space thereof has been taken. ; i (b) Total Takin . If.such taking shall involve ~ the takinq of all o e v ng units contained upon said lands , in~nediately prior to the time of taking, this lease shall terminate, effective as of the date of taking. (c) Partial Ta~kin~. If the taking be greater than described in an eas ~ian the taking described in above, the following shall apply: + (1) Rent. The rent provided in~ shall be reduced, effective as o~~ie date of taking, as if the condomini ~ uriits totally taken had never been included in The Declaration of ? Condominium as set forth herein. ~ (2~ Obli ations under . The Lessee shall ~ be entitled to a reduct oa o i s percentage of liability for ~ taxes and insurance premiums, as provided in. by eliminating ~ from the number of living units upon the lands of The Condominium and from the total ~wnber of condominium units of all lands in the formula provided in ,~the nwaber of total}.y taken living units. ~ f - -1Z.: DESTRUCTION OF L$SS$E'S IMPROVEMENTS OR TERMINATION OF CONDOMINIUM OF WHICS T8E LI3SSET IS ITS ASS ~IlTIQN. T e estruc 1on, a era on, emo it on or non-use or condition ~ of the improyements now existing upon the lands described in the Declaration of Condominium of Windmill Village By The Sea, ~ Unit No. 1, or to be constructed thereon ~n accordance with such Declaration and/or airiendment thereto, once completed, and any ' other structures which may hereafter be placed or put thereon, ~ regardless of the nature or event which causes such dest~uction, alteration, demolition, or non-use, except a taking by eminent j4 domain, as in provided, shall not in any way reduce, abate or i' suspend the Lessee's promises hereunder nor shall the same effect i~ a termination in whole or in part of this lease. A voluntary or ' involuntary termination of The Condominium shall not terminate i~ this Lease, but npon termination of The Condominium all of the ~ unit owners of the condominium property, as unit owners or as tenants in common, or otherwise, shall automatically and by ~ operation of this lease, jointly and severally, constitute the ; !j Lessee hereunder and shall jointly and severally be obligatdd z j~ to perform each and every of the Lessee's covenants and pFOmises ~ and undertakings. Upon a unit owner acquiring an interest in ? f the Lessee's rights under this lease, whether by termination of ~ condominium, his rights hereunder may thereafter be a9signed only if there the~ be no default in any of the provisions of thi lease and only if such assignment be in connection wfth a sa2e, ~ transfer or hypothecation of all of his rights ia the property ; y which was, prior to termination, condomiaium property. Provided ~ ~ however, that any first mortqaqee being a bank, insurance compan , ~ or savings and loan association which has become or becomes a ~ unit owner or tenant in comnaon b~ foreclosure or deed in lieu of ~ ji foreclosure, shall not be made liable or obligated in any way by f ADtER Q GRANDOiF ; provisions of this section but the grantee of such mortgagee . ~ ~.~?GRNE'IS AT Uw...,?.;~ shall be fully liable and obligated hereunder. All of the pro- P o so= ss~= visions of the Declaration of Co~ndominium of Windmill Village ~ B~vSHOq[ 6AR0[Nf- ~ { i SHOAPINO C[XiER j y BR~DENTON. FLORIDA ' - ~ aaso~ ~EIE~MONt ~1~•733-2671 - _ ~S _ ~ ~ ~ ~ S ~s~,, .-.:~.T ~ _ - . - . . ~ . _ 4',, "y~ y,,,.: ~ w~+'-~`~ .~,''~ti~-.1S--ar ~ L'"~s+-;,. ' . ~ ~ ' c3~V.=S> },y .