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HomeMy WebLinkAbout0348 . : . ; ' ` ~ - ' i~ . ~ s~ :i ~ ' i~ 13. ~arl Termination. If this Lease shall terminate ~ j;at any time pr or o e exp'~ra~ion of the term provided, that is ; ; December 31, 2020~ by reason of the breach of any of the Lessee's ; ~~covenants, then and in such case, all right, estate and interest ~ i~of the Lessee in and under this lease and in and to the demi~ed i ~Ipremises and all insurance policies and all inaurance monies paid ; I~or payable thereunder and all utility deposits and all prepaid i ~jexpenses as to the demised premises shall, without anp compensatio~ ~~made therefor unto the LesseO at once pass to and b~come the prop-I ~ erty of the Lessor. i ~ i ~ ~ ' 14. Solven of Leasee. If, during the term of this ii lease, (a) the Lessee s a m e an assignment for ~the benefit ~ lof creditors; or (b) a voluntary or involuntary petition be Ifiled by or against the Lessee under any law having for its ~ ~~purpose the adjudication of the Lessee as a bankrupt or the ex- ~~tension of the time of payment, composition, adjustment, modifi- ~cation, settlement or satisfaction of the liabilities of the ~iLessee or the reorqanization of the Lessee; or (c~ a permanent ~ ;~receiver be appointed for the property of the Lessee; or (d) ~ i any governmental authority ~ake possession of the lands described 1 jiin the Declaration of Condominium, this lease, at the option of j ; the Lessor shall be terminated and~shall expire as fully and ; ;~completely as of the day of happening of sueh contingency coincide~ _ -!;with the.date suecifically fixed as the expiration of the term ; ~;hereof, the provisions of 25.9 relative to notice and grace ;!notwithstanding, and the Lessee shall then quit and surrender ~ ~~the demised premises to the Lessor but the Lessee.shall remain ;`liable as hereinafter provided. If the Lessee shall contest ` !';any proceeding of an involuntary nature which would be grounds i ;;or cause for the termination under this section, by suitable ' !~grocess according to law and shall prosecute said defense with ~ ~ ~;due diligence, provided all other oovenants of the Lessee herein ' ' i;made are otherwise kept and performed, the right of termination '~in the Lessor under this section shall be suspended until the ~ ;;ultimate determinatian of said matters by a court of competent ~ ;;jurisdiction or until the Less~e shall abandon or fail to take ~ ~ ~ :suitable action to preserve its rights to contest the proceedings.; ~ ;'The Lessee shall, every 10 days, notify the Lessor of its con- ' ~ ~ !tinued intention to prosecute its defense and, further, advise ; ~~`the Lessor of the state of all litigation then-pending, and the ~ ;~failure of the Lessee to do so shall be deemed a termination of ;:the suspension of the Lessor'a right to terminate as above pro- '~vided. If a defense shall be brought by the.Lessee and timely - - ~~;prosecuted and the~Lessee shall comply with the above provision "with regard to notice and information to the Lessor~ then the ~ ;"right of the Lessor to terminate by reason of the provisions of ~ ~:this section shall be controlled by the outcome of such litigation~- _ ?'that is: ~ ; ~ ~ ii (a) If such litigati6n be resolved in favor of the ; ~ ?:Lessee, the Lessor shall have no right to terminate by reason of ' ~ the occurrence of the acts f irst listed- in 4 - ; ~ ~ (b) If such litigation be resolved against the ; ~ ~ ;;Lessee, the Lessor shall have the right to terminate above ~ ;;provided, but nothing herein shall be construed as relieving the - ;~Lessee of the performance of any of its covenants herein which ` ~ :ibecame performable prior to the determination of the outcome ~ ° ?of such litigation or the earlier abandonment of defense by the ~ f ~~Lessee. . ' ' ; ~ i; 15. Easements u on the Premises. The demised premises ;!are subject to suc easemen s or pu ic.utilities as now appear , ~ ADLER ~ GRANDOFF Ij of public record and Leasor shall have at all times the exclusive : ~ ~,right to create upon or over auch of the demised premises for ~ ~ ' nrro~ncrs wT uw. ~.w. ! j s~~ ~ ~!any and all public utilities, easements from time to time as the ~~Lessor in its discretion shall deem appropriate, free and clear ; ~ FIR3T FtD[RALeL00. ;j . 1 220 MAOISON fTR[R - ~ I 3 'rAMpA. FLORIDA !l~Ot 'I i i , TEIEPHON[ ~1~7NA{74 ~ ~ ~ ~I~ ~ " ~ [ _.E~ r t ' . . . ' _ a~s'.' ~ ~ ' _ . _'sr:~~:. . .