HomeMy WebLinkAbout1968 provided the Lessee shall ~t all ti~es have the right to use, occupy
and enjoy the demised premises in accordance witY~. the provisior.s o~ E
this lease so lonq as it shall per~orn al~ of its prom.i~es ai:c cove-
nants as herein provided. The i+e552-C does hereby agrea t~:at ~t will
for itself (and if required by t~ z:~:ortr,arees) and/or as age: t ~or
all of the condominium unit ow. ers o~ the Condom.iniu.-n, a:~d for eac:~ af
their s~ouses and for each owr.er' o~ a:~y ot'r.er interest i:~ t.za ~r~perty
of t:~e condomi.nium forthwitt~. s~aor3ir.ate its and/or their respec~ive
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~nterests in and to t'~e de^~.iszd pre::.:.ses ar.d tY~.is lease to an~~ suc:^.
:r.ortgage or mortgages by an instr;:.^:e:.t of subordination or bj ;oir.der
as mortgago~ ia_ such mortgage, pr~viced t'~at ~y such joincer t:.e I:esse~
and/or the principals for which it shai~ r.ave acted as age :t 5'r.G~~
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not assw~?e the oblisations of t: e mor~gagor, as the nortgagee ;..ay
recruire, SLL~~ECt always a O L@SS@2 ~ S ~1~ : ~ t0 L'~@ ~ OCCL'L3y d: d e:.;oy .{"..~a12
Recreation Center in accordance wi~;z -t~.e provisions o~ this lease so
ior.g as it shall perform aIl of its pro:nises and covenants as ;~erei:. -
provided. _ _ ~
12.3. Assigr.:~ent. T:~e Lessor may freely assir, : ir. wzaie
or in part all or any of its rig::t, title ar.d interest in a:.a ~o
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i t'~~is Iease and the Recreatio : Cer.ter. ~
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13. I,ESSEE' S RIG'r'_m TC :_:.5~~\ ~.ti~;;:",8:.~. The ~essee
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~ shall have no right to mortgace or ot:.zrwise encu:-c13er . any o~ i ~s
~ig:zt, title and interest i:~ an3 ~o this lease or the Recrea~~o:~
Center nor shall it have any rig:it to assign tha same or a^.~ part
thereo~ except upon term.inatior. of Cor.do:ur.iwm, ~ the Lessee's
~r.terests in-the leasehold create~ herain shall b~ distrib~:ted t~
unit owners as a cor~,mon eler,.eat of T:.e Co:~do:ainiun and as an a~sL ~
~ o~ : i~.e Lessee as its Associatior. and ~:.e unit ow:.ers shall t::ere-
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~ upon jointly and severally co~~r~se ~:e Lessee.
14. E!~:INE:~T DGtiIAT_:~ AS TG RECR~ h`TION CEI~Tr.R.
14.1. Total Taicinq. If during the term of tnis Iease
the er.tire Recreation Center shall be taken as a result oi t'r.e exe-rcise
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