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Home My WebLink About0831 ~ suc:i zcd~:ctioi~ in rczit i;~;irc tl:c :~:.r:cfi~ of ;:::e l::Stli:tlt`.~Oi1tZl F11":;'i: :;10!"::.CJ~-1~:~':: uC~;~l22:1:1~~ ~li:1C i.:G sucii coucio.ainiu:;i unit a,~ cr_:c:icii:g ~I:r_ a~:;oun~ tl:crcof .z, ~~iii~~ its st~~:re of tl:c cc::~ ;o:z c:::~c:~ ;c.:. of ~i:~ Coi~~;orainiu::~. ~n thc evcn ~~zrl ir:sti~cut~o,:al f:~_: ~ L- :::o~ ~gac;4c s,iall acq_u~rc cit~~ ~o a con~.c:::ir.iu:~ 11I71~` as a resul~ o~' a io~ecio~~a~c salc, ;:hcn t~:;: ren~ uroviaecl for ana i:o bc i~ duri::g ;.:~c ter:~ of tnis Lease siiall b~ re::uc~c: by a percen:.~.5e fi;ur~ equal to the ~ercentag~ in;:er~st in the cor:~ :on ele: :e:~ts an.: in tlie co.-~unor. surplus attributable -to sucn COI1G0- rainium unit, and such reduction ir, rent s~.al'_ inare ~o the benefit of the insti-~utional firsz mortgaaee acqairinc~ title to such conconi. iur,i unit, its as~igr.s ar.d succcssors, and sucii reuuc~ion anc: cr~ui~ s~:a1_i ~ ae per:z:anen~ and con~~.r.uinr, in ;zatur~, for t;~~ ter:i of tnis Lcase. c;ot7ing herei:z contained shall o?era~ie as an extinguislunent of this Lease, in whole or in part, or as a Lernlination of ti-:e Lesso: ' s lien, afore-described, as agains ~ tne eatire condo:.ii :iu,^ property, except as to a co7doalinium unit foreclosed unon, and to ~he extent here~F: provided. i:otwith- star.ding reduGtio:~ of rent nayuble under the provisions iiereo~, tl.e owner or occ~:pant of any cor.aor.~iniu,:, u::it as to whicil an institutior.al first r.lortgagee has aca,ui~~d title, wiie~her by conveyance in lieu of fore- closure or by foreclosure, s:iall have the fu1? rigat to e;ijoyr,l~nt ann use o~ the recreationul faciliti~s in ~he sa,-ne manner as though the said rer.t had not been r~duced ar,d the benefit of tr.e said reduction had no~ accrued to tne owner of t.ze said condominiu.'n uni~. 18 . Consent ur.d Ratif icatio:~ of `_'::is ,.case bv tini ~ Oz,rr.ers . T' w::~ ~:7A1-s r~iSCn ~ Ri1~~'~ng~ ::3'_'~"'M1 C^~r^.^~w~A ~:':j:0 S~'l~u~.~ acquire or ~ake any title or in~erst w'_:atsoever in ar to a conc.c- minium a~artraent unit in tne Conaor,lzniuri, shall by acce~tar:ce anc:/or the recordation of the cteed, grant, ass? on_;:ent, or ot~er i:~stru:~ ~:~t gran~ing, conveying or providir.g for sucn interest, or %y 4i:e € exercise oi the rignts or uses gran:-.e.~. ther~in, be de~r,eu to ~.~ve consented to and ratified the provisions of tnis Lease to w~~e sa;:e ` effec~ and extent as if suc;i person or persor.s had execute~ tr,e ~ lease wi:h the fornalities rec;:ired in the deec:, and sha~l i~e c:eer;~ed to have subordinated and subjected eacn ar.a every interest of suc: ~ person to the terrts of this Lease, incZuding the provisions proviGi,g ~ for tiie ~essor's lien rights in the conaoniniur.i property and in the s condaminiurn apartment units. ~ I ~ I9. ~ssigrL*~~er_~. a. i~rovided tnat tnis L~as~ is r.o~ ir. defauli ar,c: is ~ ir, goon standi:~g the Lessee rzay free~~~ assign t~:e sa::.a providec :hat no such assig:ir.lent or trar_s~er shall be vaZia uniess Gnd until the assigne~ sha~l expressiy assu.ne ar.G agree to ~erfor:n eacn and ev~ry one of :ize cover.a~;~s of ~.his Leas~ w:iic.,, by :.he terris hereoi , th~ :.essee agrees to keep ~ and ~er~o~., said assu:-1p~ion to be evicencad by ~:ritte~. ir.- ~ S~rur~:e:~t, executea lri r'@COrG2il1E i0?"Iti~ 2i2G~ Q@11V2rE:Ci .'".O Lessor after the SGr.:e has been recorde3 i:. the t ublic ~tecorns ~ of S;.. Lucie Cour.ty, ~ lorida. ~:o sucn ussigr.r.:ent, trans~er or ~ 2SSL`.'::Dr.lOri Si,all operate t0 rG'I~aS~ a prior L~SS~e fro^ u: j~ ~ Oi ~i1L~ C::?i~C1. cltlOiZS i2ereof ~ cii1Q I70 SUCil PrlOi i~~SSL'~? Sil~ll 1~E.' re? easeci unless and llT'1tlZ 1~J~'1 ~L2i1 C11SCi:arge Or r~~,.I~ase ~ o~ sLCa Lesse~:, duly exeu~~eci by t~:e '.:,essor, shall be r..- ~ corced anonqst t~e nu:~lic Records of St. Lucie Cou.~~, Flarida. ~ - ~ b. _n~ Lessor s:.a~l have ti.~ rich~ to assic;: ar.a to ~ C: C:;_.it:wC= i:.S li.t2r0S~ U:1G~~ _S u~aSc? ari~:. t0 ~1@ D~:~~scd ~r: ~rc..:~ses witi~cut t::e cor.sent o~ t::~ Lessc.~, prov~aec., :.ow- ~ ~ ever, t:.:~t tr.e ..essez shall, a:. the Lessor's reques~, sicn ~ -..5- 80GK 1~~ PAGE O~~ - - • - ~ IJ~W OFFlGES OF GCLDSTE:N. FRANKLIN, CHG11ti A SCHRA~iK, P. A., 2J20 \GnT}:EaST 163ND STRLET, NOR:H MfAy1: Gi~CH. FLGRi.'.A 33102 - ' . i ti, " S" Ts r , - `a' : r-' a