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gagee has acquired title, whEthei~ by conveyRnce in lieu of "
foreclosure or by foreclosure, sh~ll have t~ie full right
t~ en~oyrnent and use of
the recreational facilities in th~
s~me manner as though the said rent had not been reduced
and the benefit of the a~id reduction had not accru~d to
the owner of the said c~na~minium unit. •
18. Consent and Ratificatton of this Lease by Unit Owners.
Each ar_d every p~rson, w_ e er nH ura . or coY•pora e, w s a flcquire
ar tak~ any title c,r interest whatsoever in or to a condominivm apart-
ment unit in the Condominium, shall ~y acc~ptance and/or the recordati~n
of the deed, grant, assignments or o~her instrument granting, conveying
or providing for such interest, or by thc exercise of the ri3hts or uses
granted therein, be deemed to havP consent~d to and ratified th~ pro-
visions of this Lease to the same effect a:~c, extent as if such perso:i
or pers~ns had executed the lease with forn;alities requ:red in the deed,
and shall be deemed to have subordinated a:id suh~ecte~ et~ch and every
interest of such person to the terms of tnis L~:ase, including the pro-
visions provid{r~g for the Lessor's lien rights in t~iQ condominitim prop-
erty and in the condor„inium apartmant un~.ts.
19. Assignment. ~
a. Provided that thia Lease is not in cief'~slt a.nd is in
good stan~ing thP ?,essee may freely 2.ssign the s3ne provided that
not such assignr.r_nt or transfer sha13 be valtd ~!nless the assignee .
shall expressly assume ard agree to perform each and evsry one
of the covenants of this Lease which, by the terms hereof, tne
Lessee agrees tu keep and perform, said assumpti~~n ~i.o be evi~enced
by written instrument, executed in record~ble form, and delivered
to the Lessor after the same has t~een racorded in the Public Rec-
ords of St. Uucie t;ounty, Florida. No s~ch assignment, transfer,
or assumption shall operat~ to releasa R prior Lessee f~om ar~r
of the obligations hereoF, and no suc}i prior Lessee shall be re-
leased unless and •antil a written discharge or release of such
Lessee, duly executed ~y the Le.;sor, shall be recorded amor,gst
the Public Records of St. Lucie Coun~y, Florida.
b. The Lessor shall have the right to ssaign anci to en-
; cumber its interest under this Lease and to t}:e Demise~~ Prem-
ises ~•itnout the consent of the Lessee, provided, how•ever,
' that the Lessee shall, at the LesROr's request, sigr.r~nd exe-
; cute 3uch-instruments as may be reoui:ee or requested by the
; Less~r to effectuate such transfer or encumbra~ice.
~ Each of the parties hereta a~rees to provide the other,
~ c.
within fifteen (15) days after written request therefor, a
~ statemeht of the status of the Lnase, in writing, advisin~ wheth-
er the Lease is in good standing, ar.3 if it is riot, the partic-
ulars in which it is not; and failt~re to provide suc:i s~atement
shall constitute a representation that the Lease is in good
standing which may be relied u~on by ~~y third party as being
true and correct.
d. All obligations assumed and imposed by the terms and
conditions hereof are covenants running with ~n~ land and shall ;
pass successively upon the occasion of any transfer or assign- ;
ment of an interest in the Demised PrF~mises or this Lease. $
;
20. Duty of Lessee to Pay. It shall be the duLy and obligatior
x of the ?.essee o absess s condominiur~ ur.~t owners, in ~.ccordance with
~ the provisions or tY:~ applica~le la~vs of the State of Florida, deaiing
~ with co~do:niriu.~n, the Declaration o~' Ccndominium an~ the By-Laws of
the Lessee for such monies as shall be necESSary to pay the rents anci
~ other obligations provide~ for by ~i:his I,aase, arxi to otl~erwise perfor:a
its covenants and promiaes contair~ed herain.
~
~ 21. L~s sor' s Right to Perf'orm Le:: sE e~ ~ Cover,ants . In the event
Lessee shaT_7 ~
ai -o pay ~ e cos s o ~.?a~n~nance a~Cir
- repairs required
to the Demised P: emises, or if it shall : ail to take out, maintaiii arxi
deliver insurance pollcieP require~i he^ein, oc shal:. ot~~~:rwise fail to
-~5_ P~xiy
;
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