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~4. ~iCTl~. Th~ Lessc~ a~r~es to p~ y to t•he Lessor, ~s rent,
until suc'h t11r1° ~ s SEusc~~~ IIT is sub-±~itteci to condominium o:ar.~rship, ~
the stim of Une liuncirecl ($1~O.U0) Doll~rs per month, the first siieh ~
paym~nt to be due and p~y:~ble on the first d1y of the month i~~.~:ed~.ately
succecdin~ th~ con~~:~encel,:~nt of Lhe term hereof, that is, on the fi rst
day of ~}ie m~nth i:~!:~~diately succeediil~ tt~e date upon ~+~hich the
Declar~.t~.0I1 of Condor:iin3um is recorded in the Public Records of Dade
County, Florida, ancl said payments shall eontinue until the first d2.y
of Lhe ir.onth immediately ;:ucce~din; the date up~n which Seascape III=
is sub::~itted to condominiu:n oi:n~rship by appropriate amendraent to tYie
Declaration of Condominiwn, ar~d thereafter the Lessee sha11 pay to
the Lessor, ~s rent, the sum of One }lundred (~180.00) Dollars pcr
month, the flrst such payment of such increased sum to be due and
payable on the first day of
the nonth immQdiately succeedir~ the ~
date upon which Seascape IV is submiLted to condoar!inium olvnership,
provided, hot~ever, the Lessee shall receive as a credit against the
monthly rental due as aforesaid, until such time as FIRST NATIONAL i
BAI1K OF FORT PIEi~CE, as Trustee, under Trust Agreement dated November ~
17, 1970, and knoz•rn as Trust Number 2, hereinafter called the "Developer",~
shall have elosed on the ~ale of all condominium uni~s, an arrAUnt of ~
money computed by adding together the percentage share in the comm~n ~
elements appurtenant to th~ condominiu=+i units which the Developer has t
title to as of the first day of the month for which the rent is due,
an3 multiplying the toL-al monthly rent;~l by t~~e ~~regate percentage
figure tht?s obtain~d. The credtt against rent thus received shall
inure to the benefit of the Developsr. .
a. F.aa~t shall bc payable in current legal tender of the
United States of America at such place or places as the Lessor
shall from tine to time in tisritin~ direcL, and a place once
desi
~nated for the paymen~ of' rent sh~ll remain such until it
` shall be changed by ~•~ritten notice from the Lessor. All r~ent
` shall be payable k•itliout notice or demand. For the present,
~ and until furttier notice, rent sha11 be payable at the Colonn~des
~ Condominiurns, Fort Pierce, Florida. {r~aivers, indul~ences or chaniles
~ by the Lessor as to any rental pay:~ent orrental payr,~nts with
~ reference to the place of payment;, or in accepting anythir~ ~
~ other than currcnt legal tender as rent, shall not be constru~d ~
~ as a waiver, indulgence or char~~,e up~n any subsequent occasion. ~
1
~ b. Cost of livin; ad~ustment to rental. Tne r.tonthly rent- ~
~ als herein provided for shall be ad~usted from tirr~ t~ tin~, as
~ herein set forth, to compen~ate f'or any increa~e in the cost ot
~ liv3tu; as co:nputsd by refer•ence to the "Inde~ Ntvrber" as o~' De- ;
E cember ls 1971, provided, ho~~rever, in no e~ent shall the rr.onth-
f, x
si ly rentals here3n provided for ever be decreased, and once in-
creased, pur~uanL to the prUVisior~s of th.is sec~ion r: ntals ~
} shall not thereafter be decreased. ~ ~
;
3
'F= The index to be used shall be th2 "Consumerts Yrice Index,
~ United St~.~es Avera~e - All Items of Food" published in the
_ rnonthly Labor I~cviev~ oi' the ~3ureau of LaUor Stai,is ti es of tlic
United S~ates Departrr.ent of L~bor. If the said index shall be- ;
- coni~ unavailale, the index to be used shall be the "Consuir:~r's
Price Inciex" is~t~ed by the Urlited States Departr~~nt of Labor for
;i the S~uL-h :~tl3nti c~rou~ of state~; and if both of t;he saici-
inc~e~es shzll be~~r::e u~iavai].ab~.e, tr~e inde~ to be useci shall
be th~ "Ind~~c of Lhe Genera.l Price Le~?el" is~ue:l bS the Fed~
- eral Reserve E~TZIt of At;].~.tlt«, Geor~ia. Rci3ustri~nt in r°nt~~s
_ due unc? er L}~~ Lerrn..^, hereof sn~ 11 be cc~tr~pated on January 1,
- 19!3, ana on t~e firs ~ ddy of Jarntary of each ar.d every ycar•
= tliereaftcr, e~ cli o~ {1~'l~CI! d={t~s is her~:iz~ called a"cor»putatio;i
_ date°1. E;~ch ad;j~~ ~ ~r:
~r~t sha7.1 b~ in efS'ect co:
~:~~ncir~`; fro:~i
the ca:r.pt:taticn ciai;~ unt~~ th~ ~nci of the term unless fur~);er
iner~a~eci by «i ~ust~: ~r,t at a sti'.,~eq~en;; ciute. 3.'h~ a:r.~ur.t of
~
_ aci~~usLr:::nL sh~?.1 b° ar~°ivG:i at by rr,ultiplJ.catioti of' th~ basic
_ montl~ly r•et,i;al l:ere~tz provicicd i'ox~ by ~x fractior, tt~L nU:°rz-
- tor of t~:i~ich sh~ be the indG1. nur.~b~r for Uece.;iacr ~st ir; -
rnccti~ i.e ~y pr~cedfr~; tli~ co~r~?~at~.tion dat:e, a~::~ the der,oii;inat.~r
- tl~c i.:;~c~: ~iu::,b{:r for U~c~~iili.ci~ 1, 1971. r;.~ilur~~ on Lti:~~ p~~r;; oi'
tht~ T~c~s^or to GxFx'Cj.:'e Y~7~ r.L~;I~L to an ad~uyi.~~cnt in th:: Z;~.._~.~^
r~•r~t?1 p~_ir~;,l:<,nt to ~ct;rc ~~i•ov ~on:~ h~rr~o^ ris af.' at~y cor:.~~ut:;` sr,n
. - ~
d~~i,c~ sha ~.J_ iio;; op~ r~~ ~s i~. ,i.ver of. ;;}i~° rj.~;ht Lo un act~tt: ~
r.~~':t1c <<.r-.~l :~crc:~~._ _ c:i' th~ t•; , ic i~~~i~,;ri) r.~;, of any ~tibsc ;4::t~L ~.=:~t
rll~l?I'(: GUL jiUt.,L, ar,t, ~;,--;.t.F~, 0 R
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