HomeMy WebLinkAbout1520 bility or damages on such account.
9. Aasociation and Mana~ement Agreement. The Lessee, in ita
capacity aa on om n um saoc a on, aa en~red into a Management
Agreenient Mith RECAP MANAtiEi~NT CORPORATION as Manager. The Manager
has the duty and responaibility to perform all adminiatrative ar~d man-
agerial acts required to be performed by the Lesaee under thia Non-Ex-
clusive Ninety-Nine Year Lease Agreement.
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Due to the s~~e ar:d eatent and the compZexities involved in ad- #
ministering the COLt~NNADES CONDOMINIUM COIKPLEX, it ia mutually agreed ;
that in the event aforesaid Man~gemant Agreement ia terminated, the !
Lessee shell cauae to be fora?ed a Management Association consiating oP ~
the members ot all the Condominium Asaociations at Colonnadea Condomi- ;
ium Complea. '
The or~mer oP each conciominium unit, as evidenced by the recordation f
oP a deed thereto, shall automatically beaome a member oP the Manage- s
ment Association; in the event that the aPoresaid Management Agreement
is terminated in any manner. Each condominium unit ahall be entitled
to cast one (1) vote in matter upon Nhich a vote ia required. The
affirmative vote oP a~;a~ority of the members constituting a quorum ;
ahall be neceasary to conduct the business of the Maryagement Association. ~
It is recognized that the sole purpose of the Manageaient Association
ahall be to perform the terme and provisions of this Non-Exclusive
Ninety-Nine Year Lease in lieu of the Manager and that the Lessee ahall
continue to be entitled to possesaory and use interest herein and make ~
all payments required by this A~reement and be bound by its terms and
provisions.
10. Repairs and Maintenance. Lessee ahall at all times during
the terms o s ase, a $ own expense, malae all necessary re-
pairs and replacements to ths Demised Premises and maintain the
sanie 3n good condition. 'rhis covenant ahall include the obligation
upon the part ef the Lessee to replace or reneN xhen.necessary ar~y ~
item of furniture, fi~ctures, machinery arid equipment and all auch ;
replacements and renexals shall be at least equal in quality ar~d ~
class to the original equipanent, furnishinga, machinery or fixtures. ~
Air condi~tioning. pool and other such equipment and machinery shall ~
be regularly serviced and maintained ~ind.gr appropriate service con- '
~ tracts. Lessee shall keep and maintain a~l portions of the Demised ;
~ Premises in clean and orderly condition, free oP accumulation af ;
dirt and rubbish and ~st infeatation. All buildings, structurea-
and i~uprovements, Purniture, P'urnishings, fixtures, machinery and
equipment nor+ or hereafter replaced or bought, o~ intended Por use
upon the Demised Premises shall be a~art ther~of arid thereby the
property of the Lesso~, without payment therefor by the Lessor, and
shall be surrendere3 to the Lessor upon the expiration or earlier
termination of this Lease without cost or charge to the Lessor.
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11. Mechanics' Liens. All pereons ar~ hereby placed on notice ~
that the Lessee s a never, under any circumstances, have the power ~
to sub~ect the interest oP the Lessor in the Demised Premises to ar~y :
mechanics' or materialmen's lien or li~r~a oP any kir~d, in the abaence j
of a apecific provision to the contrary herein contained authorizing ~
in specific terms the creation of such lien or liens~ All persons
Nho may hereafter, during the term of thia Lease, furnish work, la-
bor, services or material to the premises upon the request or order
of the Lessee, or any peraon claimirfg under, by or through the Les-
see, shall and muat look onl~ to the interest of the Leasee in con-
nection with payment therefor, and not to the intereat of the Lessor.
If anq mechanics' liens are filed or asserted a~ainst the Lessor's
interest in the Demised Premises, the Lessee shall, within thirty
(3G) thirty days after the date upon r?hich notice ther~eof shall come
to its attention, cause such lien to be released from the Lessor's
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iAW OFFICES OF GOLDSTEIN. FRANKLIN. CHONIN Q SCIfRANK. P. A.. 2020 NORTHEAST 163RO 57REET. NORiH MIAMI BEACH. FLORIDA 33162