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17. Commencoment of Obli ations of Lease and Delivery o~ Poa$ea-
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aion. The o ga on o e saor art o e ssee pursuan io tine
erma and provi~iona hereof, and right to posseaaion and use oi' the De-
mised Premises, shall commence as of the date oP commencement of the
term hereby created. '
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18. Securit . For the purpose oP securing unto the Le~sor the ~
payment oP e ren herein provided for, aa well as the payment of ar~y ~
other swas due and payable the Lessor b.y reason oP the terma an3 provi-
~iona hereof, or by reaaon of any advancements m~ade to or on behalf of $
the Lessee by the Lesaor, as well as for the purpose oP securing the i
performance of each and every one of the covenants of the Lessee herein ~
contained for the use and benefit of the Lessor, the Lesaee does hereby ~
grant unto the Lesaor the followng described liena Mhich shall be cu-
mulative, provided, the Leasor may exercise one or more oP the said
liens Nithout thereby Naiving the others, or may exerciae all simulta-
neously.
~ a. Lessee's Intereat. The Lesaee does hereby give and
grant unto e ssor a continuing Pirst lien paramourtt and au- `
perior to all others upon all oP tl~e right, title and intereat
of the Lessee in ard to this Lease and the Dem3aed Premtses.
b. Lessee's Assets. The Lessee does hereby give ar~d grant
unto the ssor a con nuing £irat lien param~unt and superior
to all othera, includir~g apartment o~ners, upon its assets ar~d
comrran surplus. .
Condominium Property. The Lessee does he~eby give
and grant u-~ saor a continuing lien upon all of the
condominium parcels and condominium property as described in
the Declaration of Cor?dominium of the Condominium, including -
all appurtenancea thereto, nox or he~eafter placed thereon,
all Purniture, fixtures, furnishings, machinery ar~d equipment "
now or hereaPter located thereon, kept or used in and about
the conu~an elementa thereof, and fiatures and equipment noM or
hereafter contained or placed upon any condominium parcel,
I including air cor~ditionere, stoves, ranges, relY~igerators, hot
~ water heaters, end dishMashers, said lien being prior and au~
perior to all other liens and encumbrances except institutior~l
Pirst mortgages againat condominium unit~s.
~ d. Obli stion oP Un~t ~+ner. All liena provided for here-
in shall aecure e paymen o a 1 naniea due the Lessor here- ~
under and may be foreclosed in a manner provided for the fore- ~
cloaure of mortgages, pr~v~ded, hoKever, no lien againat arqr
fixturea or equipment in a condominium unit shall aecure a aum
greater than the percentage of the total eaiating moniee due
and owing the Lessor by the Leasee then in default equal to the
percentage of the total intereat in the co~n elemente and com- ~
mon aurplua attributable to auch condominium unit, and the-lien ~
againat any equipment, furnishinga, fixtures or portion of the '
aaid condomi.nium ur~it may be discharged bq the ~rier thereof by
payment to the Issaor of such sum, ar~d provided, further that
so long as a condominium unit oxner ahall pay that portion of ~
the total monthly rental-due and o~ring the Leaaor equal to hia _
proportionate ahare of the common expenses of the Asaociation,
either to the Aa~QCi~tion or direatly to the Lesaor, the Lessor
xill not and may not enforce any oP the rights Mhich it might
otherMiae have against the eondominium unit oaner u~er the terma
and provisiona hereoP, notrrithstanding that the Lessee ia in de-
Pault oP this Lease, and/or tY~at any other condominium unit o~rn- ~
er has failed to perform or keep its obligations aa a member oP ~
the LeBaee *o pay his prorata shgre of the aommon eapena~a of ~
which the monthly rental under the terms and provisions hereof }
t
is a part. ~
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LAW OFFtCES OF GOLDfiTEiN. FRANKLIN. GHONIN A SCNRANK. P A. 2020 NORTHEAST 163~o STREET NORTM MIAMI BEACH. FLORIDA 33162