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NINETY-NIVE YEAR LEASE
This lease entered into by and between ST. LUCIE COUNTY BANK,
as Y'rustee, under a Trust Agreement dated September 25, 1968 and
known as Trust yo. 1, hereinafter called the "Lessor", and COLON-
NADES CONDOMINIUMS ASSOCIATION 1v0. 1, INC., a corporation not for
profit under the laws of the State of Florida, hereinafter called
the "Lessee", ~
W I T N~ S S~ T H:
l. Demise. Upon the terms and conditions herein set for~h and
in consideration of the prompt payment from time to time by the Lessee
of the rents and other sums of money hereinafter set forth, and in con-
sideratinn of the prompt and continuous performance by the Lessee of
each and every of its covenants and agreements herein made to be kept
and performed, the Lessor does hereby lease, let and demise unto the
Lessee, and the Lessee does hereby lease of and fran the Lessor, the
following described property, lying and being situate in St. Lucie
County, Florida, to wit:
BEGINNING at the Southwest corner of Lot 1, BAYSHORE
ESTATES, UNIT TWO, St. Lucie County, Florida, as per
plat thereof recorded in Plat Book 14, Page 25, St.
Lucie County, Florida, Public Records, run South
89° 49' 30" West along the north right-of-way of Bay-
shore Drive a distance of 150.5 feet to the Point of
Curvature of a curve concave to the northeast and
2iaving a central angle of 41° 05' and a radius of
Ltib.t3% ieCi.~ ~u^.^^.~ at?.T: 3~^_^_~* Caiti c-»rve an arc dis-~
.
tance of 22.03 feet; thence run North 21° 36' 30"
West, 77.73 feet; thence run North 57° 58' West,
110.0 feet; thence run ivorth 32° 02' East, 60.0 feet;
thence run North 69° 47' 30" East, 300.0 feet; thence
run South 60° 52' 30" East, 375.0 feet; thence run
South 0° 10' 30" East, 90.0 feet to the Northeast
corner of Lot 4, BAYSNORE ESTATES, UNIT TWO; thence
run South 89° 49' 30" West along the north line of
BAYSHORE ESTATES, UNIT TWO, 375.0 feet to the North-
west corner of Lot l, BAYSHORE ESTATES, UNIT TWO;
thence run South 0° 10' 30" East along the West line
of said Lot 1, 110.0 feet to the Point of Beginning
of the lansis herein described .
All of said property, together with the appurtenances thereto and to-
gether with all improvements, buildings and structures now or here-
after placed thereon, and all furniture, furnishings, fixtures, ma-
chinery and equipment, now thereon, and a11 additions thereto and re-
--placements__there~f, being hereinafter called, referred to and included
within the term "Demised Premises". ~
2. ~i'Erm. The term of this Lease shall commence as of the date
upon which t~ie Declaration of Condominium of COLONNADES CONDOMINIUMS
:~0. 1, INC, hereinafter referred to as the "Comdominium", shall be
recorded amongst the Public Records of St. Lucie County, Florida, and
shall continue thereafter for a period of ninety-nine (99) years.
3. Use of Premises. The Lessee is the association formed
pursuant to t e app ic e provisions of the Florida Statutes for
the purpose of managinq the affairs of the Condominium. '~l'h~ Lessee
has entered into this Lease to make available the demised premises
for the recreation, leisure time activity, health, use, benefit
,~and enjoyment of the apartment unit owners and/or the apartment
_ unit occupants of the Condominium as they may from time to time
exist during the terms of this Lease. Use of.the Demised Premises
by the Lessee shall be non-exclusive, it being hereby acknowledqed
and agreed that the Lessor has heretofore ar shall hereafter enter
into si.milar non-exclusive ninety-nine year leases with other con-
dominium associations formed for the purpose ~Of~ ~~~nister~~ the
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LAW O/fIC[i O/ GOLGfT[I?~/, FRANKLIN. CifONIN ~ iCHRANK, r. A., 20Z0 NO717H[AfT f07R0 ~TltttT,.NQl~TH MIAl11.0f/1CH, F{.OR1DA ~?16!