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By the Ssa r~lativ~ to thi• leass, apecifically includinq those ;
ralative to the t.essor's approval and consent with reqard to ~
voluntary termination_of csondominium and to amendment of the
Declaratioa of Condom3.r~ium are hsreby declared to be an integral ,
~ part of the oon~ide=ation qivan by the Lessee to the Lessor for
~ thie lease. Notarithstandiaq anythinq contained in said Declara- ~
tion of Condomiaium. it ia s~ecifiaally agreed that should a
first mortqaqee, beinq a bank, insura~nce company, or aavinqs and `
loan aasociatian, bscome the own~r of all-of the units contained ;
within Tha Condo~ai,~iun by foraclosure or deeds in lieu of fore- ~
cbosure or cb~mbinatiot~e th~raof , then in, such case only, such
mortqaqee ahall have ~ha riqht to terminate The Condwniaimn with-:
out the apprpval or-coassnt of the LQSeor. - .
~ 13. DUTY OF I.BS~ `TO ASSBSS~ !?NO PXY. it shall ba-the ~
duty o#, the sae~ o assoes s un owners in accordance with
. thQ Florida Condomainiv~a Act, ite Declaration of Condominiwa and ~
Sy-Laws it~ auch amounts aa ahall ba necoaeary to pay its~-obliga- Z
tions, payable in monsy to the Lesaor'herQU~d~r, and.to other- '
wise perform its covenant~ and promises herein.
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- 1~. .'iNSURaNCR. Tha Lassee'ehall at its sole ex~enee ~
thrcughout~ term of this lease keep in force insurance policies
as fol~ows : ~ - . ~ _ _ " . ~ ;
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t 1. ~Publie L~ability. Coaaprehenaive, general public !
- E liability insur~?neo w~tha LeaBOr, I.easee, and all?xvther .
- ~ lessess ae tm the demised pxemieost ~hall.be n~med insi~r4~ ~
aqainst c1aliAs ~for ~~bodily iajury,~ sicknass or~ clisease . i~~ uding
~death at-any~time ~eaultinq therefrom and for injury to~oz
destruction of ~ro~er , includiaq the loss.of_use thereo!~.
arisinq out of own~ra~p, a~inteiiaace, uee or operation the ~
demised premises or auy building or improvement or p~rsonalty ~
located thareon, w~th~r,fut maximum-.l~mita?tion~.~ { ~
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~ 2. Pro ert Insurance." Policies of insurance irisuring ;
against losa or. amage ~o~'~ie~buildinga and imgrovementsti now or E
hereafter located upon the demiavd~premises and all fur:iiture, ~
fixtures, machinery, equip~twnt and furnishings now or he~oafter j
4 brouqht or placed thexeon ineurinq aq~iinet loBS by:
, _ ~ . . . , ; ~
ta) -Fire. Fire, windstorm and such other l~azards ,
as may be included
in
tho broadstt farm of extended coveraqe from
- - time to time available; aad j
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(b) Boi3,er. By vofler .explosion, if boileic* are '
now or hereaftar loc~ in the ~forosaid buildfngs; ans~ ~ i
(a) Oth~r. : To the axtont required by the -i.essor, ~
war damage or damaq-e ~ cfvil in4urrection or commotion as the ;
sa~oae may not be cover~d by other policies above referre~. :
~ ~ ' The insurance required hereunder shall be '
in an amount equal to the raaximum insu=a~ble value. .The Leasee
shall furnish-policie• insurinq actual replacement costs without ~
deduction. for~ deprsciation ancl in sueh case the term "~ximum
ineurabls value" as uted hsrein shall mean the actual replace-
- ment ooet of the property requir~d to ba inaured without-_de-
- duction for depreciation. If policies insuring replacement ~
costs ars not available, then th~ safd teraa "maxin?um insurable
value" shall mean the actual cash value with due alla`+ar~+ce far ~
AOL[R ~ ORANDO~' depreciation of the property required to be inaured, to the
•r1o~N~ri AT U?N1. eXtellt fa~urance may be affordsd under policies covered in that
. o. .o= manner. -
tAt/MOOt OAROfN~ . .
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