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HomeMy WebLinkAbout1015 ; : I • . • ~ ~ • . . • Z~. GOMMSNCSM~NT OF OHLIGATIONS OF LSSSES. Lessee ehall be obliqated o per or~a a o s covenan s an promises herein upon ~execution of thia lease other than its covenaucits and pro- mises herain upon execution of this lease other than ite cove- nants and promises set forth in Paraqraphs 6 and 7 herein. The date of commencament ot ?~estae's obligations and method of col- lection of said obligations shall be, anythinq to the aontrary notwithatandinq, controlled and determined 3n accordance with the further provisione of this paraqra~ph 2~. . l. Rent payable under Paraqraph 6 shall be dua and payable on those particular condominium units which.are "sold"~ au~d/or titled out to individual purchasers, it beinq expressly - aqread that the term "sold" shall include those particular con- daninium units that are beinq purchased pursuant to an aqree- • ment and/or contract over designeted payment periods.~ Said rent payment shall com~aence on the lst day of the month next sur ceedinq a"sold" condonainiws unit or titled unit on the basis set forth in Paraqraph 6 he=ein. Said rent shall com~aence in accordance with Paraqraph 6 and this paraqraph only on those particular units which are sold and/or titled to purchasers. 2. Notwithetandinq any matters to the contrary in Paraqraph 7, the obliqationa set forth"in Paraqraph 7 shall be due and payable on the lst day of the month next succeeding a . _"sold" and/or "titled" condominium unit as defined in thia para- . ~ qraph 24 above, only on those units which are sold and/or titled ` yto purchaeers. The I.assee ahall collect the sum of $1.10 on ; ~each condominium unit as.sild and/or titled and ren?it same on a monthly~basis to I~eesor t.o pay the obliqations set forth in Para- ' _ ~qraph 7 pursuant to cG~amencuaent under this paragraph 24: Said ~obliqations ~hall then ho remitted by Lessor to the proper suth- ~ ;orities as and when said obliqations~become due and payab~e. ~ . ~ . . ~ 25. ADDITIONAL COVBNANTS. . ~ s _ 1. No Termi~tion U n~asualt . No damage o~'de- ~struction to u ngs, s ruc ures, provements or furniture, ; ~furnishinqs, fixturea, machinery.,pr equipment now or heroafter E ilocat~d upon the demised pramisea by fire, windstorm or any ~ ;~other casualty;, shal~ entitle the Lessee to surrend~r possession ~ ~~or to tenainatetthi$ lease or to violate any of.its provieions ~ ~~or to cau8e any reb te,.abatemeat or adjustment in the rent ~then due or thereai~er becominq ck~a under the tenus hereof; and if this laas• be canc~l.led and t~rminated by reason of the ~~Lessee's def~ult at aAy time whi~e there remains outstand~ng ~ _ iany oblig~tiOn from a~y , insuranco eaapany to pay for the~ damage ~or any part ~theraof then the claf~a againat the insurance; company ~ ~shall upon the ~ancal~ation and termiriation of thia leaa~ ~e ideemed inrned~ately to°become the ~bsolute and unconditional . ~ roperty of the ~ Le~so~,. - _ ' . . ~ s 2. Redelive~ of Premia~a. At the tenaination of this . ~lease by lapse o or o erw se the Lesaee will peaaeably ' ~ nd quietly deliver posseesion ot the premisee and a~ll i~prove- - ~~aenta aituate~t thereoa includinq all personal property therein - d theraon to thQ Lessor in qood state and condition, subject o.the proviaions of 7.4 and that all buildings, improve~aents ' d perso~al property then sttuate8 upon the demised premiaes hall bevome and rsmaip the property of the Lessor and that no ~ ynpensation shall be allowed or paid by the Lessee to ttie Lessor erefor. . ~ . ~ - i~ 3. Intereat. Whero not otherwise provided in tbis ~ ease, all sums o money cominq c~u~ from the Lessee to the ApLE/1 ~dItAM00/~ ~ ssor shall bear inte~aot at the rate of 10 per cent per annum •^~~••u~.~~ ; 5 days from the date the saiae shall become due until ths date ii e same ahall be pafd. ~ , i~ ~ - ~~1~ - ~ ~ a~ 186 ~10i4 . ; _ !