HomeMy WebLinkAbout1789 (I) Certain Takin s Not Included. Nsither a~
taking of less an ee s p e t e nor a takinq of
ten (10=) percent or less of the ~partment units
contained upon said lands itmaediately prior to the
_ time of takinq ahall be construed or conaidered as a
takinq. For tha purpose of thfs paragraph, a takinq
of an apartment unit shall have occured ~there at
. least sixty (60~) percent of the floor apace thereof ;
has been taken. ~
(2) Total Takin~. If such taking shall involve
the takinq o~af~o e apa~rtment units contained upon
said lsnds in~aediately prior to the time of takfnq, ~
. this Lease shall terminate, effective as of the date of
. ~ takf nq .
. ~(3) Partial Takin . If the taking be qreater
" than descr e in Paragraph 15 b. (1) and less than
the.takinq describe~d in Paraqraph 15 b. (2), above,
the rent provided in Paraqraph 4 shall be reduced,. ~
effective as of the date of takinq, by a percentaqe
fiqure equal to the percentaqe interest in the
com~aon elements and in the common surplus attributable
to the condominium unita taken, provided, hvwever, that -
all other provisions of this Lease shall remain in _
full force and effect.
16. Cauonencement of Obli ations of I.ease and Deliver of
~ Possession. T ga on o Lessor an o ee pur-
suan o tenas aad provisions hereof, and riqht to poasession
and use of the Demised Premises, shall com~ence as of the date
of co~mencement of the term hereby created.
17. ~Security . For the purpose of securinq unto the Lessor
the paymen
o
the rent herein provided for, as well as the paymeat ~
of any other sums due and payaUle the Lessor by reason of the ~
terms and provisions here, or by reason of any advancements made
to or on behalf of the Lessee by the Lessor, as ~rell as for the
purpose of securing the performance of each and every one of the
covenants of the Lessee herein contained for the use and benefit -
of the Lessor, the Lessee does hereby qrant unto the Lessor the
~ follcx~rinq described liens ~which shall be cumulative, pravided, the
~ - Leasor may exercise one of more of the said liens Without thereby ~
rtaivinq the. others, or may exercise all simultaneously.
a. LesBee'~s Interest. The Lessee does hereby qive and
qraat uato sor a c~ontinuinq first lien paramount and
superior to all oth~ers upan all of the riqht, title and
int~rest of the Lessee ia and to th3.s Lease and th+e Demised~
Premises. .
b. I~essee's Assets. The Lessee dces hereby qive and
qrant unto sor a continuinq first lien paramount and
superior to all others, includinq apartment awners, upon its
assets and c~mon surplus.
. c. Condominium Pro erty. The Lessee does hereby give
and qrant unto Lessor a continuinq lien upon all of the E
cond~inium parcels and condaa~inium property as described in }
- the Declaration of Conda~ninium of the Condominium, fncludinq }
all appurtenances thereto, no~r or hereafter_placed theraon, ~
~ all furniture, fixtures, furnishinqa, machinery and equipaent
~ now or hereafter located th,ereon, kept or used in and about
includinq air vonditioners, stvves, ranqes, refriqeratqrs, hot '
rates heatera, and dish~rashers, safd lien beinq prfor and {
superior to all other lieas and eacumbrances except insti-
tnti~al firat awrt~qaqes aqainst con~daminius units.
8. ~Oblf atioa of IInit O~ier. All liens pravide~d for herein
- shall secura . paya~ea o a foni~es dus the Lessor heraunder
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