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Home My WebLink About1908 . . . ~ ~ . • • . ' k ' (3) I~'orcc].o :u~~c i;y ~in::LiL-ut~on,-xl. ~~~.~r~L- i:~,: :7~.~r:-:. In L•he evcn ~~n in~ ~ u ~lun~ - r;; mur~; ;w~cc ::t,~.li ac- quii•e ti~lc to a condocnin3urn urriL- by convcyancc: :in 1:i.Eu of forcclo~urc, ~hen ~o lorU a~ ~uch in::~i::ut3.an~1 r:Art- ~~~ee ~hall continue ~o hold ~Itlc to the ^aid cor.cl~r:?ir: iuih uni t, i:hc Y~cnt providcct for and Lo oe pulc2 durin;r tho tcrm of L-hi~ I.ea~c shall bc rcduccc~ by a ncrc~r~taf,c i'3~,- ur~: cqu~l Lo thc pcrcc:~L'at,c: .intcrc.:L :~n ~hc: co:.~nor: ~•lc- mQnL~ and 3n Lhc con~r.An ~urplu:: ~Ltr~.bu ~~blc ~o :uch cur?- _ doniinium uni~, ar.c? ~uch reductfon :i.n rcn~ :.i~~?~. 3nurc L-o th~: U.:ne!'iL or Lhc in~ ~1tuL-ional i''iryt r:x~rL~zLcc ucqu:i.r- in~ LiLle L-o ~uch condominium uni~ by crcc:it~.nL thc arr,~unt thercoi' a~ainst; itJ Jh~re of the. corr.r;~n c~nen:.c:~ of ~Y~e . Condominium. In the evc~t an institutional f~: st m~o: t- ga~ee shall acquirc: ~itle to a condoml.niur~ unit as a re- sult of a foreclosur~ sale, then the rent provided £or and to be paid durin~ the term of this Lease .snail be re- duced by a percenta~e figure equal to the percen~a~e in- te~est in the comrr.on eler;~ents and in the co:rr?.on surplus attributable to such condortiinium unit, a.~d such reduction in rent shall inure ~o the ber.efit of the ins~itu~ional ' first mortgagee acquirir~; title to suciZ cor.dor.iiniur:~ unit, its a~si~ns and successors, and such reduction and credit ~ shall be permanent and continuing in nature, for the term ~ of this Lease. Nothino herein contained shall operate as ~ an extinguishment of this Lease, in wnole or i:~ pzr~, or _ as a termination of tr,e Lessor~ s lien, afore-described, as a~ainst the entire condominiur?i property, e~:cept as ~o ( . a corydominium unit foreclosed upon, and to the ex~ent nere- ~ in provided. Notwithstariding reduction of rent pa.yable 1 ~ under the provisions hereaf, the oV~ner or occupa.~t of ar~y . condominium unit as to which an institutional first mort- - gagee has acquired title, whether by conveyance in lie~: o~ foreclosure or by foreclosure, shall have the f'ull ri~t . to en~oyment and use o£ the recreational facilities in ~he same manner as though the said rent had not been reduced and the benefit of the said reduction had not accrued to ~ the owner of the said condominium unit. 18. Consent and ~atification ~of this Lease by Unit Ov:ners. ~ ; c^.ach and every person, w e ner na ura or corpora e, wno sna acquir~e ; I - or take any title or in~erest whatsoever in or to a condominiur:~ a~art- ~ ment unit in the Cor~ominium, shall by accep~ance and/or the recorcation ~ of the deed, grant; assignment, or o~her instrument grantin~, conveying ~ or providing for such interest, or by the exercise o~ the rights or uses granted therein, be deemed to have consented to and ratiz''ied the pro- visions of this Lease to the same effect and exL-ent as iP sucn nerson or persons had executed the lease with formali~ies-required in t::e deed, and shall be deemed to have subordinated and sub~ecteci eacn arld every interest of such person ~o the ternas of th~s.Lease, including tne ~ro- visions providing for the Lessor~ s lien rights in the condorr~i.nii:m prop- erty and in the condominium apartment units. ~ 19. Assign:rant. a. ?roviaed that this Leas~ is no ~ in defaul~ a:ri is ~r. ~oon star~dir~ the Lessee r.+.ay freeiy assign tr,e sar~~e ~rovided thst no such assi~nment. or trar:sfer shall be valid unless tr.e assignee ~ shall expres siy assume and agree to perfor~ : each az~:'. eve ry one ~ ~ of tne covenan~s of this Lease wnich, by ~he ~er:r.s i:erao=, ~'r.e ~ Lessae a~rees to .keep and ~erform, said assu:~t~on ~o be evi3a:ZCe3 by writ~en ins ~ru~ent, eYecuted =n recordable rarr, ar.~i aeliverzci ~o the I.essor aPter the sa~:~e has been rzcordec ~n ~:~e ?uaiic ~ec- ords oi S~. ~zcie County, ~~lorinz. ~o sucn ass~gr~~nen~, a~si er, or ass~~ion shail or,erate to release a pr~or ~.essee ~=?o~: atr~r of the oblioations hereo~, ann :zo such prior I.essee ~:~ai 1 be re- leased u.~less and u:~til a writ~en disci~.: je or release of sucn :.essee, duly executed by ~he 3.essor, shall oe recorded amor~s~ the Public Records of St. Lucie_Coun~y, ~lorida. BOOK 18S PACE ~~11J . -14- ~ U?W Oi7/iGEi 0/ GC)LOSTEtN, ~RMIKLIN, GIiONIN 6 iGHRANK r•A.. 2020 NORTHEAi7 taJRO iTREET. J~IO?iTH MIAM{ E~ACFi. FLGRiCA 33tv2 - s ` - - ~=s-„~n~ x.~. ~.~r.c ..w y~° "-~~y %~-s~ ~ . . ` =i- .