HomeMy WebLinkAbout1912 9. FURTHER MORTGAGES. The Lessor shall have the right
at all times to further and additionally mortgage and encumber .
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its interests under this lease and in and to the Recreation Center ~
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and the Lessee's interest in and to the same shall at all times ;
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be subordinate and inf erior to those of such additional and fur- ~
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ther mortgages, provided the Lessee shall at all times have the
right to use, occupy and enjoy the demised premises in accordance
with the provision of this lease so long as it shall perform all
o f its promises and covenants as herein provided. ;
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10. LESSEE'S RIGHT TO ASSIGN AND ENCUMBER. The Lessee
shall have no right to mortgage or otherwise encumber any of its
right, title and interest in and to this lease or the Recreation
Center nor shall it have any right to assign the same or any part
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! thereof except upon termination of_The Condominium, the Lessee s ;
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s interests in the leasehold created herein shall be distributed to
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~ unit owners as a common element of The Condominium and as an asset
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~ of the Lessee as its Association and the unit owners shall there-
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~ upon jointly and severally comprise the Lessee.
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11. EMINENT DOMAIN. If any part of the demised premi-
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~ ses is taken under the p~wer of eminent domain during the term of
~ this lease, the rent herein provided for shall continue unaffected
as to amount unless such taking completely destroys the usefulness ;
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of the demised premises for all purposes leased. In such event,
~ the Lessee shall have the right to terminate this lease by written
r~= notice to the Lessor within thirty (30) days after such taking or to
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~ oaK 191 190?
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