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HomeMy WebLinkAbout0625 32. Ca~tions and Titles. The captions and titles contained in this Lease are or convenience and reference only and in no way shall serve to limit or describe the scope or intent of this Lease or any part hereof. 33. Termination of Condominium. A voluntary or involuntary termination of the Lessee, or of the Condominium created by virtue of the Declaration of Condominium of the Condominium, shall not terminate this Lease. In the event of a voluntary or involuntary termination af the Lessee, wherein the Condominium is not likewise terminated, the successor association to the Lessee organized or constituted according to the applicable statutes of the State of Florida as contained in the Condominium Act shall assume and shall be charged with all of the duties, obligations and responsibilities of the Lessee hereunder. In the event of a voluntary or involuntary termination of the Condominium all of those persons owning a condo- minium unit as of the date af termation of the Condominium shall automatically and by operation of this Lease jointly and severally constitute the Lessee hPrPt~~c~ex' and shall jointly and severally be obligated to perform each and every of the Lessee's covenants and promises and undertakings herein provided for. Upon a condominium unit owner acquiring an interest in the Lessee's rights under this Lease, or becoming a iessee under the terms of this Lease, by reason of termination of the Condminium, his rights hereunder may there- after be assiqned only if there then be no default in any of the provisions of this Lease, and only if such assignment be in connection with a sale, transfer, or hypothecation of all of his right5 in the property which was, prior to termination of the Condominium, condo- minium property, excepting only and provided that any institutional first mortgagee which shall become an owner of a condominium unit or a tenant in common in what had been condominium property by foreclosure or deed in lieu of foreclosure, shall not be liable or obligated in any way by the provisions of this section, but the grantee of any such institutional mortgagee shall be fully liable and obligated for the payment of a proportionate share of the rental due and attributable to such condominium unit during such period of time as the condominium unit shall be occupied by a tenant or lessee holding under, by or through such institutional first mortgagee. i E 34 . Waiver of Ric~hts . The tailure or tize Lessor Lo eniorce ~ f any covenant, o igation or agreement of the Lessee herein contained ~ shall not constitute a waiver of the right to do so thereafter, nor shall it constitute a waiver of the right to enforce any other ~ covenant, obligation or agreement herein contained. ~ ~ 35. Amendments. Once recorded, this .linety-c~ine Year Lease ~ may not be amende except by instrument in writing executed by the parties hereto, duly recorded in the Public Records of St. Lucie County, Florida. 36. Co ies. A copy of this Ninety-I~ine Year Lease shall be ~ exhibited o~livered to each person contracting to acquire a condominium unit in the Condominium from the Developer, for the ~ purpose of making full disclosure of all of the terms and provisions ~ hereof. Each such person expressly agrees and consents that minor ~ changes, deletions, additions and amendments may be made to this ~ Lease prior to the recordation thereof, and without further advice or notice to such person, for the purpase of correcting typographical n~ errors, complying with the requirements of an institutional mortgagee, " or for other reason, provided such deletion, addition and/or amendment shall not materially adversely affect the rights of such person or of the Lessee hereunder. ~ N ~ -21- ~ . 600K 187 PAGE 625 LAW OFFICES OF GpLDfTEIN. FRANKLIN. CHONiN Q SCHRANK, P. A.. 2020 NORTHEAST 163~o STHEET. NORTH MIaMI BEACH. FLORIDA 33162