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(1~ Certain Takinga Not Included. Neither a tak~ng
of less than ee s mp e e nor a ing of ten (10~)
percent or less of the apartment units contained upon said
lands imnediately prior to the time of taking ahall be con-
strued or considered aa a taking. For the purpose of~this
paragraph, a taking of an apartment unit shall have occurred
where at l~a~t sixty (60~} ~eraent of the floor apace there-
of has been taken.
(2 ) Total Tak~. If such takirig shall involve the
taking of' aI1-o~Fie apartment units contained upon said
lands imnediately prior to the time of taking, this Lease
ahall terminate, effective as of the date of taking.
Partial Taking. If the taking be greater than
described n aragrap s b. 1 and less than the taking
described in Paragraph 15 b. 2~, above, the rent provided
in Paragraph 4 ahall be reduced effective as of the date
of taking, by a percentage figure equal to the percentage
interest in the common elementa and in the common surplus
attributable to the condominiwn unita taken, provided,
hoxev~r, that all other provisiona of this Lease shall
remain in f~ill force and effect.
lh. Comcnencement of Obligations of Lease and Delivery of Possea-
sion. The o ga on o e sspr a o e ssee pursuan o e
~erms and provisiona hereof, and right to possesaion and use of the De-
mised Premises, shall commence as of the date of co~nencement of the
term hereby created.
1~. Security. For the purpose of securing unto the Lesaor the
payment o e rent herein provided for, as Nell as the payment of an4r
other sums due ar~d payable the Lessor by reason of the terms and provi-
sions hereof, or by reason of
any advancements made to or on behalf of
the Lessee by the Lessor, as Nell as for the purpose of securing the
performance of each and every one oP the covenants of the Leasee herein
contained for the use and benefit of the Lessor, the Lessee doea he reby
' grant unto the Lessor the folloMing described liens v+hich shall be cu-
~ mulative, provided, the Lessor may exerciae one or more of the said
€ liens without thereby waiving the others, or may exercise all simulta-
~
= neously.
~ a. Lessee's Interest. The I.essee dces hereby glve and
' grant unto e ssor a continuing first lien paramount atxi su-
~ perior to all othera upon all of the right, title arxi interest
G of the Lessee in and to this Lease ar~d the Demised Premises.
k b. Lessee's Aasets. The Lesaee does hereby give ar~d grant
unto the saor a con nuing first lien paramount and superior
< to all others, including apartment oNners, upon ita assete and
~ common surplus. .
~ c. Condominium Pro erty. The_ Lessee does he reby give
and grant u-n~o -~fie saor a contir~uing lien upon all of the
condominium parcels and condominium property aa described in
the Declaration of Condominium of the Condominiwn, includirg
F;
all appurtenances thereto, noM or hereafter placed thereon,
_ all furniture, fixtures, furni~hings, machinery and equipment
~ noN or hereaf ter located thereon, kept or used in and abovt
the conmon elements thereof, and f ixturea and equipment noN or
hereafter contained or placed upon any condominium parcel,
including air conditioners, atoves, ranges, refrigerators, hot
water heaters, and dishwashers, aaid lien being prior ar~d su-
= perior to all other liens and encumbrances except inatitutional
first mortgages against condominium unita.
d. Obligation of Unit O~mer. All liens provided for here-
in ahall aecure e paymen o a nanies due the Leasor here-
_ under and may be foreclosed in a manner provided for the fore-
closure of mortgageg, provided, hoMever, no lien againat ar~y
fixturea or equipment in a condominium unit shall secure a sum
~reater than the percentage of the total exiating moniea due
and owing the Lessor by the Lessee then in default equal ta the
gaR~1y7 676
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~AW OFFICES OF GOLOSTEIN FRANKUN. GHONIN ! SCHRANK. P A_ 2C20 NORTFIEAST 183~o STREET, NORTH MMMI BEACH. FLORIOA 33162