HomeMy WebLinkAbout0803 9. ~ FtAtT~iER MORTGAGES. The Lessor shall have the right
at all times to further and additionally mortgage and encutaber
its interests under this lease and i~ and to the Recreation Center
and the Lessee's interest in and to the same shall at all times
be subordinate and inferior to those of such additional and fur- -
ther mortgages, provided the Lessee shall at all tiaea have the
right to use, occupy and enjoy the demised premiaea in accordance
with the provision of this lease so long as it shall perform all
1
- ;
o f its pranises and covenants as herein provided.
10. I~SSE$' S RIGAT TO ASSIGN AND ENCLA~iBBR. T'he 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 r ight to assign the same or any part
thereof except upon termination of The Condominiws, tlle Lesaee's
interests in the leasehold created herein ahall be distributed to
unit o~mers as a ca~aon element of The Condaninium and as an asset
t
€ of the Lessee as its Association and the unit owners aha21 there-
~
~
~ upon jointly and severally camprise the Lessee.
~
f
~ 11. EMINENT DQMAIN. Zf any part of the desnised premi-
ses is taken under the power 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
~
~ of the demised premises for all purposes leased. In such event,
~
~
~ the Lessee shall have the right to terminate this lease by written
~
notice to the Lessor within thirty (30) days after such taking or to
~
~ ~
~
~
~ ~ R : gp1 _ 9 _ ~19~ i90~7
~ ~i92
~ ~ ~ . - - - :
~ . . z ~ ~
~~,~"~~z~`~~"~~~~~N..~.~ .