HomeMy WebLinkAbout1898 • . £
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have completod thc developrr~nt, pro:~btion •and ~ai~s of all ~partrr.en~~
and shops to be cons truc Led at the Cor.dom~niur~, it shall have the fol-
lowing rlghts with re~;ard to the Demi~cd Pre:nl~es, not•~rith~tar.din~ any
other provisions of this Lease to the~contrary:
a. The ri~ht to use and occup~r exclusively any por~ion of
the Demised Premises desi~nated as 'officcs" in the aforereferred
~ to plans of the Demised~Premises.
b. The ri~;ht ~o use, occupy and der,~ons trate, on ~ non-ex-
clusive basis, all of ~he Demised Premises for tne purpo~e of
promoting ar~d aidin~ in the sala or rental o£ the condo:ni :~iu:n
units on or to be construc~ed in the condorrdnium a~zr~cr~n~ bui'_d-
in~. Such :36hts shall not be exercised in an unreasonable *r~cn-
ner not consistent with the ri~hts of the r.tiembers of the Les~ee
to use, occupy and en~oy such portions of the Demised Premises.
_ ~ c. ~othing herein cantained shall serve in any way to re-
. duce Lessee's obligations for the paym~ent of rent, taxes, repair
and maintenance of the Demised Premises. ~
d. Tne Developer shall Y~ave the further right to display
~ and erect signs, billboards and placards, and to stor~e, keep, ex-
hibit and distribute written, audio and visual promotional ma~e- ~
rials in and about the Demised Premises.
, e. No act of the 7eveloper exercised or perForn,eci pursuar.~,
to the rights reserved to it under the provisions of this ~rtic±e
shall be construed or deerr.ed as a breach of the Lessor~ s covenants
. hereunder or as an actual, implied or constructive f'a~! lur+a af ~iie
Lessor to deliver possession of ~he Demised Prenises to i.he i.es-
see, or as an actual, implied or construc~ive evictior. o~ the ies-
see from the DeYrdsed Premises, or as an excuse or ~us~ification
for the Lessee~ s failure to p~c~omptly, ftiilly, comvletely arxi~ con-
tinuously perForm its covenants and obligations hereunder.
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~ 6. Association and T~.anagement Agreement. The Lessee, ir. its
~ capacity as on om n um ssocza ion, as en ered into s~fanagement
~ Agreement with Recap Mana~ement Corporation as N~anager. The ~ana6er
has the duty and responsibility to perform all administrative and man- -
agerial acts required to be performed by the Lessee under this ron-c~c-
clusive Ninety-Nine Year Lease Agreement. ~
i .
~ Due to the size and extent and the complexities involved in ad- -
~ ministering the COIANNADES CONDOMINIUNt COMPL.:X, it is mutually asreed
that in the event aforesaid I~anagement Agreement is terrr.inated, t:~e
Lessee shall cause to be .formed a Management associatior. consistir~ of
the members of all the Condominium Associations at Colonnades Condomin-
lum Complex.
Tr,e owner of each condominium unit, as evidencen by the reco~ua~ion
of a deed thereto, shall automatically become a member.of the y:anzge-
ment Association; in the event tnat ~he afaresaid i~.anaoem.en~ eer~~nt
is termina~ed in any c:~anr:er. Each condominium unit shall be enti~led
to cast one (1} vote in matter •spon which a vote is required. ihe
affirmative vote of a ma~ority oz"' ~ne r:,er~bers constitutin; a quorum
shall be necessary to conduct the business of the N~.an,3~err.en~ ~ssociation.
It is recognizeci that the . sole purpose o: the i~anagz:~ent ~ssocia~ion
shall be to perfo:m tne terms an3 provisions of this Non- ~cclusive ~
Kinety-:~ine Year Lease in lieu o~ the ~anager an~ taat the Lessez s:~all
conti;~ue to 'oe entitled to ~ossessory and use interests herein and ~ake }
all payrr:ar.ts required by ~his Agreement and be bound by its ter~s and
provisior,s .
7. F.i~~,ts ^eserved ~o Lessor.
a. Non-exc 3usivi ~y. ^he Lessee spec~~ ical],y ac:~owie3r~es
that t'r.is s a nor.-exc usive Lease, a:xi that tr.e I.essor rzserves
tne ri~ht to lease the Demised•Premises to other persons, natural
-4- BOOKISO PACEIB~
LAW OFrICEi OR GOLDST[IN. FRANKLIN.CMOVIN ~ SCMRAkK, P,A., 2p10 NOR7HEAGT 16311D ~TREET. NORTN MiAMi &EI1CFi. FLOR~DA :33:i~~
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