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11.3. Foreclosure by Institutional First Mortqagee.
If an institutional fixst mortqagee shsll foreclose its mortqaqe
against a condominium unit and obtain title to the same by public
sale held as a result of such foreclosure suit, or should such
institutional first mortqagee acquire title by conveyance in lieu of
foreclosure, then so lonq thereafter as such in§titutional mortqaqee
shall continue to hold the title to said condominium unit, the
rent shall be reduced by the amount of $3.50 per month and the shar=
inq of the conmion expenses shall be reduced by one "unit of partici-
pation". Said institutional first mortgaqee shall recefve the benefit
of such reduction in.rent by credit against its portion of the common
expenses of the condominium of which the Lessee is the Condominium
Association. The same shall not reduce or abate any other of the
promises and covenants of the Lessee herein. The foreclosure of ~
an institutional first mortgagee's lien shall not operate~ as an
extinquishment of this lease in whole or in part or as a termination
of the Lessor's lien, as aforesaid, as against the entire condominium
pr_operty or the condominium parcel so foreclosed. Upon an institu=
tional first mortgaqee conveying its title to the condomz.nium unit so
' acquired by i.t, the foregoing abatement of rent and sharing of ex--
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~ penses shall immediately cease and terminate.
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~ 12. LESSOR'S RIGHT TO ASSIGN AND ENCUMBER. The Lessor
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I shall have the right to assiqn and encumber its interest under this
lease and to.the Recreation.Center as herein provided.
~ 12.1..Existing Martgages. The Recreation Center and
~ other lands are subject to existing mortgages to Walter E. Heller
~ Company of Florida, Inc., which mortgages have been recorded in the
~ i t Florida.
Public Records of St. Luc e Coun y,
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~ 12.2. Further Mortgages. The Lessor shall have the right
~ at all times to further and additionally mortqage and encumber its
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~ interests under this lease and in and to the Recreation Center and
~ the Lessee's interest in and to the same shall at all times be subordi-
nate and inferior to those of such additional and further mortqages,
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