HomeMy WebLinkAbout0608 have the following rights with regard to the Demised Premises,
notwithstanding any other provisions of this Lease to the contrary:
a. The right to use and occupy exclusively any portion
of the Demised Premises designated as "offices" in the
aforereferred to plans of the Demised Premises.
b. The right to use, occupy and demonstrate, on a
non-exclusive basis, all of the Demised Premises for the
purpose of promoting and aiding in the sale or rental of
the condominium units on or to be constructed in the
condominium apartment building. Such rights shall not be
exercised in an unreasonable manner not consistent with
the rights of the members of the Lessee to use, occupy
and enjoy such portions of the Demised Premises.
c. Nothing herein contained shall serve in any way
to reduce Lessee's obligations for the ~ayment of rent,
taxes, repair and maintenance of the Demised Premises.
d. The Developer shall have the further right to
display and erect signs, billboards and placards, and
to store, keep, exhibit and distribute written, audio
and visual promotional materials in and about the
Demised Pr_emises.
e. No act of the Developer exercised or performed
pursuant to the rights reserved to it under the provisions
of this article shall be construed or deemed as a breach
of the i,essor's covenants hereunder or as an actual,
implied or constructive failure of the Lessor to deliver
possession of the Demised Premises to the Lessee, or as
an actual, implied or constructive eviction of the Lessee
from the Demised Premises, or as an excuse or justification
for the Lessee's failure to promptly, fully, completely
and continuously perform its covenants and obligations
hereunder.
6. Association and Management Agreement. The Lessee, in
~ its capacity as Condaminium.Association, has entered into a
' Management Agreement with Recap Management Corporation as Manager.
E The Manager has the duty and responsibility to perfArm all ad-
; ministrative and managerial acts required to be performed by the
€ Lessee under this Non-Exclusive Ninety-Nine Year Lease Agreement.
E
~ Due to th.e size and extent and the complexities involved in
~ administering the Colonnades Condominium Complex, it is mutually
¢ agreed th.at in tne event aforesaid Management Agreement is ter-
~ minated, the Lessee shall cause to be formed a Management Asso-
ciation consisting of the members of all the Condominium Associ-
ations at Colonnades Condominium Camplex.
The owner of each condominium unit, as evidenced by the re-
cordation of a deed thereto, shall automatically become a member
~ of the Management Association; in the event that the aforesaid
- Management Agreement is terminated in any manner. Each condomin-
~ ium unit shall be entitled to cast one (1) vote in matter upon
~ which a vote is required. The affirmative vote of a majority of
~ the members constituting a quorum shall be necessary to conduct
_ the business of the ~ianagement Association.
~
~ It is recognized that the sole purpose of the Management `
~ Association shall be to perform the terms and provisions of this
~ ;von-Exclusive :Iinety-Nine Year Lease in lieu of the Manager and
~ that the Lessee shall continue to be entitZed to possessory and use
interests herein and make all payments required by this Agreement
and be bound by its terms and provisions.
~
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8~ i8~ ~ S08
IJ1W OFFtCES OF GOLOfT[IN, FRANKLIN. CHONIN A SCMRANK. P. A.. 2020 NORTHEAST 183no STREET. NORTH MIAMI BEACH. FL6RIDA 3~162
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