HomeMy WebLinkAbout1774 32. Ca tions and Titles. The captions ~?nd titles contained in
this Lease are or conven ence and reference only and in no way 8ha11
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 even~ of a voluntary or involuntary
termination of the Lessee, wherein the Condominium is not likewise
terminated, the successor association to the Lessee orqanized or
. constituted accordinq 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, obliqations and responsibilities of
the Lessee hereunder. In the event df a voluntary or involuntary
termination of the Condominiiun all of.those persons owning a condo-
minium unit as of the date of termation of the Condominium shall
, automatically and by operation of this Lease jointly and severally
constitute the Lessee hereunder and shall jointly and severally be
obliqated to perform each and every of the Lessee's covenants and
. promises and undertakinqs herein provided for. Upon a condominium
i unit awner acquirinq an interest in the Lessee's rights under this ~
~I.ease, or becaminq a Lessee 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 assiqnment be in connectioa
with a sale, transfer, or hypothecation of all of his riqhts in~the
property which was, prior to termination of the Condominium, condo-
miniwa property, excepting only and provided that any institutional
first mortqaqee 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 obliqated in any way by the provisions of this section, but the
.qrantee of any such institutional mortqaqee shall be fully liable
and obliqated for the payment of a proportionate share of the
~ rental due and attributable~to such condominium unit during such
period of time as the condomi.nium unit shall be occupied by a
tenant or lessee holdinq under, by or throuqh such institutional
. first mortgaqee. ~ ~ ~
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E 34. Waiver of Ri hts. The failure of the Lessor-to enforce
~ any covenant, o iga ion or aqreement of the Lessee herein contained
~ shall not constitute a waiver of the riqht to do so thereafter, nor
shall it constitute a waiver of the right to enforce any other
~ .covenant, obliqation or aqreement herein c:ontained.
~ 35.~Amendments. Once recorded, this Ninety-Nine Year Lease
may not be amend~except by instrument in writing executed by ~
. the parties hereto, duly recorded in the Puhlic ltecords of St.
. ; Lucie County, Florida. .
36. C_~o
~ies_~. A copy of this Ninety-Nine Year Lease shall be
exhibited
or~celivered to each person contracting to acquire
a condominium unit i.n the Condominium from the Developer, for the
purpose of makinq full disclosure of all of the terms and provisions =
hereof. Each such person expressly agrees and consents that minor
chanqes, 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 purpose of correcting typographical
~ errors, complyinq with the requireiaents of an institutional martqaqee,
~ or for other reason, provided such deletion; addition and/or
~ amendm~ent shall aot materially adversely affect ttLe riqhts ~of such ~
person or of th~s Lesses h+ereuader. '
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