HomeMy WebLinkAbout0678 in rent shall inure to the benefit of the institutional
firat mortgagee acquiring title to such condominium unit, ~
its assigns and succesaora, and such reduction and credit ~
shall be permanent and contirruing in nature, for the term
of this Lease. Nothing herein contained shall operate as
an extinguishment of thia Lease, in r~hole or in part, or
as a termination of the Lesaor's lien, afore-described,
as againet the entire condominiwn property, except as to
a condominium unit foreclosed upon, aYxi to the extent here-
in provided. Notwithstanding reduction of rent payable
under the provisions hereof, the oaner or occupant of an~y
condominium unit as to which an institutional firat nart-
gagee has acquired title, whether by conveyance in lieu of
forecloaure or by foreclosure, shall have the full right
to en~oyment and use of the recreational facilities i:, ~;a
same cnanner as though the said rent had not been reduced
and the benefit of the said reduction had not accrued to
the owner of the said condominium unit.
18. Consent and Ratification of this Lease by Unit 0~?nere .
Each and every peraon, M e er na ura or corpora e, N o s a acquire
or take any title or interest whatscever in or to a condominiwn apart-
ment unit in the Condominium, shall by acceptance ar~d/or the recordation
of the deed, grant, asaignment, or other instrument granting, corneying
or providing for such interest, or by the exerciae of the righta or uses
granted therein, be deemed to have conaented to ar~d ratii'ied the pro-
visions of this Lease to the same effect and eatent as if such pera on
or persons had executed the lease Mith forme?lities required in the deed,
and shall be deemed to have subordinated and sub~ected each arrl every
interest of such person to the terms of this Lease, including the pro-
visions providing for the Lessor's lien right~ in the condominium prop-
erty and in the condominium apartment units.
19. Asaignment.
a. Provided that this Lease is not in dei'ault ar~d is in
' good standing the Lessee may freely assign the same provided that
no such assignment or tranafer shall be vaiid unleas the assignee
; shall expressly asaurr~e and agree t3 perPorm each and every one ~
~ of the covenants of this Lease Mich, by the terma hereof, the
5 Lessee agrees to keep and perform, said assumption to be evidenced
~ by written instrwaent, executed in recordable form, arxi delivered
i to the Lessor after the same has been recorded in the Public Rec-
$ ords of St. Lucie County, r^lorida. No such assignment, tranafer,
; or assumption ahall operate to release a prior Lessee from any
~ of the obligations hereof, and no such prior Le~see ahall be re-
~ leased unless ar~d until a written diacharge or release of such
~
Lessee, duly executed by the Lessor, shall be recorded am4nge
the PubZic Records of St. Lucie County, Florida.
~ b. The Lessor shall have the right to assign and to en-
~ cumber its interest under this Lease ar~d to the Demised Prem-
~ ises Nithout the consent of the Lesaee, pravided, hoNeve r,
" that the Lessee ahall, at the Lessor's requeat, sign ar~d exe-
- cute such instruments as may be required or requeated by the~
Lessor to effectuate such transfer or encumbrance.
~
- c. Each of the parties hereto agrees to provide the other, ;
within fii'teen (15) days aPter Nritten request therefor, a ;
~ statement of the atatus oP the Lease, in xriting, adviaing r+heth- ~
er the Lease is in goad atanding, and if it is not, the partic- :
ulara in which it is not: and failure to provide such stetement ~
~i~ shall conatitute a representa~ion that the Lease is in good ~
= standing Nhich may be relied upon by any third party aa being ~
true and correct. ~
- ~
;
d. All obligations assun~ed ar~d imposed by the terma ar~d
conditions hereof are covenants running Nith the land an3 sha11
pass sucessively upon the occasion of any tranafer or assign- ;
ment of an interest in the Demised Premises or this I~ease.
: = $a~K 197 PAf.F 6?8 ~
= 4
_ -14- ~
; ~AW OFFICES OF GOLDSTEIN. FRANiCLIN. CHONiN ~ SCHRANK P. A., 2020 NORTHEAST f83PC STFEET. NORTH MMMI BEACH. FLORIDA 33SE2 ~