HomeMy WebLinkAbout1757 . hava the followinq rfqhta with reqard to the Demised Premises,
not~tithstandinq any other pr.ovisfons of this Lease to the contrary:
a. The riqht to use and occupy exclusively any portion
of the Demised Premises desiqnated as. "of f ices" 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 promotinq and aidinq in the sale or rental of
the condominium units on or to be constructed in the
. condominiwa apartment buildinq. Such riqhts shall not be
. exercised in an unreasonable manner not~consistent with
~ the riqht8 of the me.mbers of the Lessee to use, occupy
and enjoy such portions ~of the Demised Pre.~aises.
c. Nothinq herein contained shall serve in any way ~
- to reduce Lessee's obligations for the payment of rent,
. taxes, repair and maintenance of the Deiaised Premises.
d. The Developer shall have the further riqht to
display and erect signs, billboards~and placards, and~
. . to store, keep, exhibit and distribute written, audfo
and visual promotional materials in and about the
- ~Demised Premises.
e. No act of the Developer exercised or perforcned
pursuant to the riqhts reserved to it under the provi-sions
_ of this article shall be construed or deemed as a breach
- of the Lessor's covenants hereunder or as an actual,
implied or constructive failure of the Lessor to deliver
possession of the Demised Premises to the I~essee, or as
an actual, implied or constructive eviction of the Lessee
•from the Demised Premises, or as an excuse or justificatioa
for the Lessse's failure to promptly, fully, completely
and continuously perfvrm its covenants and obligations
~ hereunder.
6. Association and Mana ement A reement. The Lessee, in
its capacity as Con ~ium Association,- as entexed into a -
Management Aqreement with Recap Management Corporation as Manager.
~i The Manaqer has the duty and responsibility to perforcn all ad-
~ ministrative and manaqerial acts required to be performed by the
~ Lessee under this Non-Exclusive Ninety-Nine Year Lease Agreement.
~ Due to the size and extent and the co~aplexities involved in
administerinq the Colonnades. Condominium Complex, it is mutually
aqreed that in the event aforesaid Manaqement Aqreement is ter- ~
minated, the Lessee shall cause to be formed a Manaqement Asso-
ciation consistinq of the members of all the Condaainium Associ-
, ations at Cc~lonnades Conde~ainium Camplex.
The owner o~ each condominium unit, as evidenced by the re-
cordation of a deed thereto, shall automatically become a;nember ~
of~the Manaqement Associationf in the event that the aforesaid
Manaqement Aqreement is tesminated in any manner. Each condomin-
iwn 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 constitutinq a quorum shall be necessary to conduct
. the business of the Manaqement Association. .
It is recoqnized that the sole purpose of the Manaqement ~
Association shall be to perform the terms and Q~ovisions.of this . k
Non-Exclusive Niaety-Nine Year Lease in lieu of the Manager and
. th~at the Lessee shall continus to be entitled to ~
possessory and use ~
intere~ts herefA aa~d make all payments requirad by. this Aqreement ~
~ and be bound by ita ta~;ma aad provisfona.- ;
• -4- ~
~
aDOK
LAW OI/lCi~ ~I aOi,Dni1N, /RANKLi1r ppN~N ~~CMIIA~{K. RA.. ~O=O NOQTMtAf'T ISi110 eT11ttT. NORTN MIAMt tEACM, Fi.0111pA 33162
~
~ F~~