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17• Commencement of Obligations of Lease and Delive oP Posses-
sion. The o ga on o e ssor a o e ssee pursuan e
'~erms and provisions hereof, and right to po$session and use oP ~the De-
mised Premises, shall commence as of the date of commencement oP the
term hereby created.
18. Security. For the purpose of securing unto the Lessor the
payment of e ren herein provided for, as well as the payment of ar~y
other sums due and payable the Lessor by reason of the terms and provi-
sions hereof, or by reason of any advancernents made to or on behalf of
the Lessee by the Lessor, as well as for the purpose of securing the
performance oi' each and every one of the covenants of the Lessee herein
contained for the use and benefit of the Lessor, the Lessee does hereby
grant unto the Lessor the followng deacribed liens which ahall be cu-
mulative, provided, the Lessor may exeraise one or more of the said
liena without thereby waiving the othera, or may exercise all simulta-
neous ly.
a. Lessee~s I»terest. The Lessee dces hereby give ani
grant unto e ssor a continuing first lien param~unt and au-
perior to all others upon all oP the right, title arid interest
of the Lessee in and to this Lea~e and the Demised Premises.
b. Lessee's Assets. The Leasee does hereby give and grant
unto the ssor a con nuing Pirat lien paramount and auperior
to all othe~s, including apartment ownera, upon its assets and
common surplus.
c. Condominium Property. The Lessee does hereby give
and grant un o e ssor a continuing lien upon all of the
condominium parcels and condominium property as deacribed in
the Declaration of Condominium of the Condominium, including
all appurtenances thereto, now or hereafter placed thereon,
all furniture, fixtures, furriishings, machinery ar~d equipment
' now or hereafter located thereon, kept or used in and about
the common elements thereof, and fixtures arni equipment now or
hereafter contained or placed upori any condominium parcel,
; including air conditioners, stoves, ranges, ret~igerators, hot
I water heaters, and dishwashers, said lien being prior and au-
~ perior to all other liens and encumbrances eacept institutional
first~mortgages against condominium units.
d. Obligation of Unit Owner. All liens provided for here-
in shall se~ure e paymen o a 1 monies due the Lessor here-
under and may be foreclosed in a manner provided Por the fore-
closure of mortgages, provided, however, no lien against any
fixtures or equipment in a condominium unit ahall secure a sum
greater than the percentage of the total exiating monies due
and owing the Lessor by the Lesaee then in default equal to the
percenta.ge of the total interest in the common elements and com-
mon surplus attributable to such condominium unit, and the lien
against any equipment, furnishings, fixtures or portion of the
said condominium unit may be discharged by the owner thereoP by
payment to the Lessor of such sum, and provided, further that
so long as a condominium unit owner shall pay that portion of
- the total monthly rental due and owing the Lessor equal to his
proportionate share of the common expenses of the Association,
either to the Association or directly to the Lessor, the Lessor ;
will not and may not enforce any of trie rights which it might ~
otherwise have against the condominium unit owner urxler the terms ~
and provisions hereof, notwithstanding that the Lessee is in de- `
fault of this Lease, and/or that any other condominium unit own- ;
er has failed to perform or keep its obligations as a member of - ~
the Lessee to pay his prorata share of the comnon expensea of
Nhich the monthly rental under the terma and provisions hereof
la a part.
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~ _ 13. 6UOK 1~75 PAGE ~~7~'t
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