HomeMy WebLinkAbout1896 r . .
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~cclusive, iL- bcin~ hercby ac)cnowled"cd and a~~rcccl that tY:~ :~c:.::or
has hereLoforc or sh~ll hereaPte. enter~ 3nto ~imilar nor.-e-r.clu~ive ~
n3nety-n:Lne yca: lease~ with othcr condominium a:~ociation; i'or:r.c:cl
for the purpose o~ admin3sterln~; L•he af
fa:Lr~ or ather cor,dG~li::iLirA:, i
~ at ~he Colonnades Condominiums Compler.. The Lc~~or i'urther resc:ves '
the ri~hL to lease or contrac~ for the use of the Demiseu ?rer.~:.ses
~ by other groups or persons, for the purpose of enablin~ tY~e cost o~
maintenance and ope~aLion thereof to be opportuned az:?or~st a lar~er i
number of persons, provided, however, that at such tiMe as all oP the . ~
condominiums to be located in the Colonnades Condominiur,s Cor~~le~c
shall have been completed, all a~reements or•leases for the use of
. the Demised Premises by anyone other than such as~ociations or ~he
residents and occupants of the said Colonnades Condominium~, shall
terminate. ~It is reco~nized and acknowledged that the Lessor ur.der
the terms of this Lease may be one or more o~ the officars ars~ di:ec-~
tors constituting the original Board oP Di~ectors and Officers or ~ha
Lessee, and that all of the persons constituting tne original Eoard o~
Directors and Officers oF the Lessee and persons who may oe sub~ect to ~
the control or influence of the Lessor. Each apartraent ov~ner, for :zi~- _
self, h~s heirs, successors and assigns waives all ob~ection ~o such ~
circumstance and ratifies and a~rees to be bound: by the term.s and pro-
visions of this Lease to the same extent as if ne had ~oin~d in the ex-
ecution hereof for all purposes herein expressed, as well as for the
purpose oF: (a) sub~ecting all of his right, title and interest in
- his condominium apartment and to the common elem.znts appurtenan~ thera-
• to to the lien rights granted the Lessor under the orovisions her~o~;
(b) a~reeing to perform each and every of the coven2.rtts, ~romises an~
undertakings to tse performed by condominium apart~:ent uni~ ovmers wr.er-
• ever so provided in this Lease; and (c) r~tifying, ~confirmir~ and ap-
proving each and every provision her~ein contained, ar.d ac~rnov~ledging
that all of the terms and provisions hereoF, including the rental re-
served, are reasonable.
~ a. The Lessee shall consti tute the irs~evocable a~ent
in fact, with ftiill power oF subs ~itution, of each and every
act and thir~; required o~ apartment unit ovmers pursuant ~o
the provisions of this Lease,~ and to consent to and execute
any and all documents, whez~e necessas~y, to e£fectuate ar~y .
and all of ~he provisions of this Lease. In tr.e event any
~ of the provisions of this Izase shall be in conf~ict wit~h
; any of the provisions oP the ~eclaration of Condominium, the `
€ provisions of this I~ease shall contr~l, except with the ex-
press written consent of the Lessor to the CONTRARY.
~
~ B. The rental herein provided-for to be paid, ~he cost
, of repairir~g arid maintaining the Demd sed Prer~ises in ~ood
' condition and repair, and of replacing portions therzo~, as
~ necessary, and other undertakings and obligations ner~ein p„o-
~ vided for, shall constitute a corr~rtwn expense o~ ~he Cor~omin-
' - itun.
c. r^.ach condominiwa apartment unit owr•er shai2 have ~he
right to use, occupy and en~oy the Demised Prerr3ses ~'~rou~'n
~he Lessee, sub~ect to all of the provisjor.s o~ ~his Lease,
the Declaration of Condominium, the Certifiaate ai ir.co: pora-
tion and the B~j-Laws of the Lessee, and such rules arA reou-
lations which the Lessee may from time to time adop~.
d. Use of the Demised ~rer~ises shal~ be su~~ect to all
~ 22v~s, s ~atu~es, ordinances, ~ules ~nd regu?~tions of a~p~c-
~ priate ~overnmental author~~ies, arui to tne :ules and re~u-
la ~ions o~ the Yational Board of r i~
e Unde: -,~ri ters, or i. ;,he
~ event it shall terminate its present functions, tY:en of ar.y :
other body exercising similar fnctions. a3i use of the ae- f
mised Premises shall further comply with requirements of ail
insurers carrying insurance in Porce with respect to ~he De-
. mised Premises.
-2- ~ g~188 ~1893
L?W OIrICEB O~ GOI.'~G7EIN, MItANKLIN, GHONIN ~ iGNRANK, r.A.. 2030 NOR?HEAiT 16,nD STRC~Y, KORTH ldIA/d1 DEACH, F43~3!0.1 3:i~=
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