HomeMy WebLinkAbout2960 ~
i
;
. ~
bility or damages on such account.
9. Association and Management Agreement. The Lesaee, in its
capacity as on om n um ssoc a on, as en ered into a Management
Agreement ~ith RECAP MANAGEN~NT CORPORATION as Manager. The Manager
has the duty and responsibillty to perform all administrative and man-
agerial acta required to be performed by the Lessee under thia Non-E~c-
clusive Ninety-Nine Year Lease Agreement.
Due to the size and extent and the complexities involved in ad-
ministering the COLONNADES CONDOMINIUM COMPLEX, it is mutually agreed
that in the event aPoresaid Management Agreement la terminated, the
Lessee shall cause to be formed a Management Association conaisting of
the members of all the Condominium Asaociations at Colonnadea Condomi-
ium Complea.
The owner of each condominium unit, as evidenced by the recordation
of a deed thereto, shall automatically become a member of the Manage-
ment Association; in the event that the aforesaid Management Agreement
is terminated in any manner. Each condoroinium unit ahall be entitled
~ to cast one (1} vote in matter upon which a vote is required. The
affirmative vote oP a ma~ority oP the members conatituting a quorum
shall be necessary to conduct the business of the Management ABSOCiation.
It is recognized that the sole purpose of the Management Association
shall be to perform the terms and proviaions of this Non-Exclusive
Ninety-Nine Year Lease in lieu of the Mar~ager and that the.Leasee ahall
continue to be entitled to possessory and use interest herein and malce
all paymenta required by this Agreement and be bownd by its terms ar~d
provisions.
10. Repairs and Mainteriance. Lessee shall at all times during
the terms o s ase, a s own eapense, malae all necessary re-
pairs and replacements to the Demised Premises and maintain the
same in good condition. This covenant shall include the obligation
upon the part of the Lessee to replace or renew when necessary ar~y
item of f'urniture, fi~ctures, machinery and equipment and all such
replacements and renewals shall be at least equal in quality and
~class to the original equipment, !'urnishinga, machinery or fixtures.
I Air conditioning, pool and other such equipment and machinery shall
be regularly servfced and maintained ur~der appropriate service con-
tracts. Lessee shall keep and maintain all portions of the Demised
Premises in clean and orderly condition, free of accwnulation of
dirt and rubbish and pest infestation. All buildings, structures
and improvements, furniture, furnishings, fixtures, machinery and
equipment now or hereafter replaced or bought, or intended for use ~
upon the Demised Premises shall be a part thereof and thereby the
property of the Lessor, without payment therefor by the Lessor, ar~d
shall be surrendered to the Lessor upon the eacpiration or earlier
termination of this Lease without cost or charge to the Leasor.
11. Mechanics' Liens. All persona are hereby placed on notice
that the Lessee s a never, under any circumstances, have the power
to sub~ect the interest of the Lessor in the Demised Premises to ar~
mechanics' or materialmen's lien or liens of any kind, in the absence
of a specific provision to the contrary herein contained authorizing
in specific terms the creation of such lien or liens. All persons
who may hereafter, during the term of this Lease, il~rnish work, la-
bor, services or material to the premises upon the request or order
of the Lessee, or any peraon claiming under, by or through the Les-
see, shall and must look on~y to the interest of the Lessee in con-
nection~with payment therefor, and not to the interest of the Lessor.
IP any mechanics' liens are filed or asaerted against the Lessor'a
intereat in the Den~iaed Premisea, the Lessee shall, within thirty
( 30 ) thirty days aPter the date upon which notice thereof shall cc~me
to ita attention, cause auch lien to be released Prom the Leseor's
~
800K 1~5 PacE295S
_7- '
LAW 0//IC[S O/ GOLOSTEIN. FRANKLIN, CHONIN 3 SCHRANK. P. A.. 2020 NORTHEAST te~eo lTREET. NORTH MIAMI S[ACM, fL01110A ]lIO2
~ : .h ~
. i"
' ~ _ _