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NINETY-NINE YEAR LEASE North Rt~a:ni :.esc:~, Fcc.rl~s .'.3162 ~
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This lease entered into by and between FIItST NATI02~1L BI~NK OF F'ORT
P?TRCT, AS TRUSZTE, wyder ~cust Agreement dated Nwember 1970 and known as `
~rust Nwaber 1 ~ , hereinaf ter called the "Le sor, " and COLON-
NADES CONDOMINIUMS ASSOCIATION NO. 1, INC., a corporation not for '
profit under the laws of the State of Florida, hereinafter called
the "Lessee," ~
W I T N E S S E T H:
1. Demise. Upon the terms and conditions herein set forth and
in considerat
o of the prompt payment from time to tir.?e by the Lessee
of the rents and other sums of money hereinafter set fort::, and in con-
sideration of the prompt and continuous performance by the Lessee of
each and every of its covenants and aqreements herein made to be kept
and performed, the Lessor does hereby lease, let and demise unto the
Lessee,.and the Lessee does hereby lease of and fr~n the Lessor, the
follawing described property, lying and being situate in St. Lucie
County, Florida, to wit:
Beginning at the SouthWest corner of Lot 1, BaysY:ore Estatcs, Uait ~o, St.
Lucie County, Florida, as per plat thereoP recorded in Plat Book 14, Pat;c 25,
St. Lucie County, Florida, Public Records, run South 89" 49' 30" Wc:s~ ~:;ong
the north right-of-~awy oP Bayshore Drive a dfstance of 150.5 ~.:eL ~o tr.~
~ Pofnt of G~u~vature of a curve concave to the northeast and havin~; r: cent: al
angle of 41° 05' and a radius of 266.8? feet; thence run A:.or.g s~ici cu~-~ _~n
arc distance of 22.03 feet; thence run North 21° 22' 30" ~ast, 1~~.6~ f~:.:t;
thence run North-32° 36' 30" West, 77.73 feet; thence run North 57° 58' West;
110.0 feet; thence run North 32° 02• East, 60.0 feet; thence run ;:ar-h ~:9°
47' 30" East, 300.0 feet; thence run South 60° 52' 30" East, 375•0 'ee~;
thence run Soutb 0° 10' 30" East, 64.37 feet to a point; thence r~ua ~ou~:1
89° ~+9' 30" West, 150.02 feet to a point; t2~e nce run South 0° 10• ~0" ~as
23 feet to the Na~thwest carner of Lot 4, Bayshore Estates, Un_~ Z~ro; t:.~nce
run South 89° 49' 30" West, 225 feet along the North li~es o° :,o~s 3, 2:~d 1, _
Bayshore Estates, Unit ~o, to tbe Northwest corner oP Lot 1, Bayshore is~ates,
Unit ~o; thence run South 0° 10' 30" Sast along the West line oP said Z,ot l,
110.0 Peet to the Foiat of Beginning of the lands herein described.
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A1~ of said property, together with the appurtenances therato and to-
~ gether with all improvements, buildings and structures now or :~ere-
after placed thereon, and all furniture, furnishings, fixtures, ma-
chinery and equipment, now thereon, and all additions thereto and re-
placements thereof, being hereinafter called, referred to and included
within the term "Demised Premises."
2. Term. The term of this Lease shall commence as of S~:-.tei;iber
22, 1970,~eing the date upon which the Declaration of Condomi._iur.i of
COLONNADES CONDOMIyIUMS NO. l, ItJC., hereinafter referred to as tne
"condominiur.~," was recorded amongst the Public Records of ~t. ~,:cie
County, Florida, and shall continue thereafter for a perio~ of ninety-
~ nine (99) years.
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g 3. Use of Premises. The I,essee is the association forr.tec ~ur-
suant to the applicable provisions of the Florida S~atutes for
° the purpose of managinq the affairs of the Condominium. The Le~see
has entered into this Lease to make available the 'der.:ised prenises
for -the recreation,~ leisure time activity, health, use, ber,efit and
~
~ o' enjoynent of the apartment unit owners and/or the apartment un~t
occupants of the Condominium as they may from time to tiMe axi~~t
~ o~~ during the terms of this Lease. Use of the Demised Prem~:s::~ b~
the Lessee shall be non-exclusive, it being hereby ackr.o~v~edge~
~ and aqreed that the Lessor has heretofore or s:za21 hereaf z~r er.~er
~.~b into similar non-exclusive ninety-nine year leases with o~ner con-
a a dominium associations formed for the purpose of aci~?inistering the
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LAW OFfICEi O/ OOi.DiT[IN. FRANKLIN. CNONIN • iCH11ANK, R A.. 2020 NORTH~I?<T fiiRO iTR[tT. NORTH MIA~11 BEACH, F~.OqIDA 33162
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