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HomeMy WebLinkAbout1852 (a) Rent. The rent provided by this lease shall be reduced, effective as of the date of takinq by $3.50 per month per unit taken. (b) Sharing of Common Expenses. The number of "units of participation" assiqned to the Lessee shall be reduc~d by the nwnber of condominium units taken. 16. DESTRUCTION OF LESSEE'S IMPROVSMENTS OR TERMINATION OF CONDOMINIUM OF WHICH THE LESSEE IS ITS ASSOCIATION. The destruc- tion, alteration, demolition or non-use or condition of the improve- ments now existing upon the lands described in the Declaration of Condominium of WINDMILL VILLAGE BY THE SEA CONDOMINIUM NO. l, or to be constructed thereon in accordance with such Declaration and/or amendment thereto, once completed, and any other structures which may , ~ , hereafter be placed or put thereon, regardless of the nature or event which causes such destruction, alteration, demolition, or non-use, except a taking by emi.nent domain, shall not in any way redu~e, abate or suspend the Lessee's pramises hereunder nor shall the sa~ae effect a termination in whole or in part of this lease. A volur~tary or in- s f voluntary termination of The Condominium shall not terminate this ~ ~ lease, but upon termination of The Condominium all of the unit owners ~ of the condominium property, as unit owners or as tenants in common, ~ ~ or otherwise, shall automatically and by operation of this lease, ~ jointly and severally, constitute the Lessee hereunder and shall ~ jointly and severally be obliqated to perform each and every of the ~ Lessee's covenants and promises and undertakinqs. Upon a unit owner ~ aoquirinq an interest in the Lessee's rights under this lease, his ~ ~ rights hereunder may thereafter be assigned only if there then be ~ ~ no default in any of the provisions of this lease and only if such ~ ~ assiqnment be in connection with a sale, transfer or hypothecation ~ ~ of all of his riqhts in the property which was, prior to termination a condominium property. Provided,however, that any ' ~ ~ -18- ~ , . ~ J ; _ • , ~ , ~.`~'.z~~~.~_~'~ ~ .