HomeMy WebLinkAbout1003 :
. .
. • • . .
_ • . .
, •
. ~
intend~d for us~ upon th~ demis~d premieas, shall be a part ~
thereo! and th~reby th~ prop~rty of the Leasor, without pay-
m~nt therefor by th~ I.~asor and shall be ourrendered to the ~
- Leosor upo~n the expiration or •arli~r termination ot this lease
Without cost or charqo to th~ Le~sor.~ The Lessae shall not
change the d~siqn, color, matsrials or appearance of the im-
. provemsnts now or heraafter~plac~d upon the den?faed premises,
or any of the furnitura, ~uraishinqs, fixtures, machinary or -
equip~aent contained therein without the Lessor's approval. ~
S. Leasor's O tion. NotWithatnn8inq anythinq con-
tained in7;1 an e Laseor ahall have the right (which
it may exercis• ae frequently as it may wish) to requira the
Lessee to pay to tha Lessor on the firat day of each month ~
~ durinq the term hereof, oi ~uch portions thereof as tha I~essor
~shall determine, ths premiums for insurance which will next
become due a~d payabl~, plus iucea (impositions) next due on the
.demised premises (or as reasonably estimated by the Lessor,
. notice of which shall bs qiven to the Lessee), less all sums
already paid thersfor, divided by the number of months to .elapse, .
~ ona moath prior to tho date whan said premiums and taxes (im-
poaitions) shall become gayable. _ ~ -
6. 'Lessor'• Recei t in_Truat. Sums so paid to and
received by_ - ssor purauatn o.,7.2,and 7.5 ahall be
held by it to pay said pramium~ and taxes (impositions).
7. Limitation on Lessee'~~ Liabilit . The Lesaee's.
liability for e paymen o axes an naurance premiums, as '
in 7.1 and 7.2 provided, shall bo 100~ initially and shall
chanqe~oAly as set out hereinbeloN:
, . -
~ ~ (a) Decrease. Decrease to the extent that such ~
percentaqe shall never exceed th~ ratio which the condominium ±
units coatained upon the lands of the condominium of wliich the
Lesaee is the Association bear to the total number of condominium
units contained upon the lands of all lessees, includinq this ~
; Lessee. Deatruction,-demolitfon, non-use or state of repair of .
i condominium units shall not be considered in calculatinq such
~ ratio. ~ . .
E _
~ ~ (b) increase. Increaea to the extent that the
E percentaqe shall never e ess than the ratio computed in 7.7(a), -
elimiaatfng ~em the total numbar of condominium unita of all
Lesseee, condominium units of ott~er Leasees taken by eminent .
~iomain and condominium units of_other Le~seea.whose leases to
the demiaed~premisee are cancellad.-or terminated prior to the
term heroof (wh~ther or not suc2i.caacellation or termination
be sought or cauaed xiy t.ha Leoeor) until and if. ever a~i~w
lease is executed for- the benefit and use of such condon~inium
u~its. ~ .
s _ rt~
~ ~ 8. SECURZTY:' l~or the purpoae of securinq~unto th~~Lessor -
~ the paymen .o rent, taxe~ and iaewcance premiums, and for the
~ purpose of aecuring t2~.performance of every and all of the
~ covenants of ths I~esia~ h~rei~ct ~~t for the use and ben~lit of
~ the I~ssor tand not anoth~or IASS'ee `~bf the demieed premises) , the
~ Lsssee doos ,heraby: qr~tit ws'to t.hs Leasot the liene~ described in
this section 8. The`liens so desaribed shall be cumulative and
~ the Leasor day ~~it~r~i4i one or dom~ vrithout waiving the. ~.others -
ar n?ay eYerciss all ~i.mtiltanaously. ~ . - '
~o~cw ~ aswMOO/~ ~ ~ ~
?irGwyiTf A7 LAM. 1. ~ ~ s ~ a ~ • ~ w ' • .
• O. ~Oa HI! . ' , ~~t . _ ~
•~rfMOAt tA~O{IN - ' . 1 ~ ~ ~ . ' ~O{q1 ~
•NOIMNi C[Kff#
•w~OIMiOM.~~60A1~A , . . - . 'r t #
fflM ~ ,p s , ~ . ~ ~ .
. . - • . _ ' .
T=LiMWM! ~?f~1~~•~f1 i
. . ~
: . t . y I
i
~ ~
-