HomeMy WebLinkAbout1546 in rcnt• sha7_]. tnur~ to the b~nef it of tt~e in5titti,:~.oi;,1 f
firc.t ~aort~;a~ee ~.cquirin~ tii.le to St1C}l condon:i~iui~ ui~~ fi.,
i~;s ~:~~i.~;r~:~ and s~:ccessors, an~i ~tich reducl;ion ~~tr.l cr•c•dtt
sh~.l1 be p~rn:~ncnt t~nd continuin~~; ~.n nattire, for i;h:: t;~:°;r.
of t.h~s Lc:~se. Nothtii~ her~It~ conLa:ttied shall opei~af;e ~ s
an exti_r.nuish~nt of this Lease, in ti~rhole or in pa~~t, or
as a termination of tY:e L~ssor's lien, afore-describ~ci, ~
as a~ainst the entire condominiu~~ propert;y, except as to
a condo„~inium unit foreclosed upon, arxl to the er.tent liere-
in pi~vide:l. Nct~~3thstandi.n~ reduction of rent payable
uncier t}~e p~~ov~sions hereof, th~ ovrner or occu~atzt of ar,y
cor~do:n~.n~iur~ unit as to which an institutional first rr.ort-
ga~ce has acquii~ed title, whether by conveS=~nce in lieu of 3
fvreclosure or by forec?osur~, shall have the fult right t
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to en~ioy:r.rnt and use of the recreational facilities ~n tne ;
sarne mann~~i° a.s thou~h the said renL had not been reduced ~
and the bei~efit of the said reduction had not accrued ~o }
the o:•:ner of the said condominium unit.
18. Consent an3 Ratification of this Le~se by Unit Otivners.
Ea.ch and everyr p~rs`on, e ier na ura or corpora e, ~~r o s z_ acquire
or t~ke any tiLle or interes t ~r~hatsoever in or to a corrlomin3u~ ?~.part- ~
mei~t uni~ in ~i~e Condominium, shall by acceptance and/or the recor~datioi: ~
oi" th° deed, ~;rant, assignment, or other instrument granting, conveyin~; ?
or providin~; foi° such interest, or ~y i,Y~ exercise of the rl~hts or ~se~
~r•an~ed thereiii, be cleer~d to have consented to and ratii'ied tha pro-
visjons of this L•~ase to the same efi'ect an3 exten~ as if such ~~rsor~
or per~ons haci er.ecuted the lease t•rith formalities required in t;h~ de~.-~.~,
and sh~ll be deem~d to have subordinated and sub3ected each ar_~i e~~ca~y
~.iii.erest of such person to the t.e.rms of this I.ease, includin~ the pro-
v~sj.on~ providii~; for the L~essor's ~.ien ri~hts in the condomini.um prot--
erLy and in tr~e con~3omtniu?~ apartr~~~i~t units.
19. 11ssi~;n:nent .
~ a. Provided tha ~ this L~ase is not ~n default and is ii~
~ood stan:linc; thc Lessee may freely assi~n the sa?rti provided th=.~
no such assi~;nr~,~nt or transfer shall be valid unle~s the assi~nec
; shall ex~r~~~sly 2ssume and a~ree to perfori~ each anci cvery one
of f;iie covena*~ts oi' this Leuse wich, by tY:e terms hereof, t'~P ~
Les ~ee a~;rees Lo ~teep F,ill(~ perform, said assumpt3on to be evi.:3er.cecl ~
~ bv tvritten ii~strur,;ent;, executed in recorc3able form, ar~3 delfvere~ ~
' to the Lcasor• af~er t~ie sar;2 has b~en recor3eci in tY,e Publ.ic i~c•-
3 orcls of St;. Lixcie County, t~lorida. No sucli assi~;nment, t.r~~.nsf'e~, ~
; or assumpt.ion ~ hall operate t:o relea~e a prior Lessce fror~ ac15• ~
~ of the obli7ations hei~eof , an-i no such p;~ior Le: see shz].l be re-
= leased t1I1.1E'ss at;~ until a trrr3.tten dischar~;e or relea;~e of stzch
} Le~see, duly executed b3r the I~ssor, s~~ll be recor~ed z~~r~r?~,:;t
e the Publ.ic F'ecorrjs of St. Lt~cie Counti,y, Flor3da.
~
~ r. The Lessor sL~~ 1 h«ve t}ie right to assip;n an~ ~o en-
cttmber ~ts i.r~t;erest undcr t;hi~ Lease ~t~r3 to thE Dami~e~ Pr~i,r~
~ 3ses wi~'r,out the consent of the Lessee, provirled, hor~ever,
~ t;haL the I~^s: ee shall, at the Lessor's request, sigi~ arxl ex~~-- ~
cutie such in~tru~i~~nts as may be requirtd or 2~eque~ted by t13c
~ Lessor to efrecit~~. such tran: fer or e~lcumbrance. ~
i
~ c. r.'ach o£ the parties h~reto a~~r~:es to prov3de t;he ~L.I~°r, ?
~ ~
wi i:t~in fifiecn (15) d<<ys after written request: therefor, a
~ statemet~t of ti~~ status of i;he I~FLS~ , ir1 ti~12°i ~in~ , ad~isir.~; r:,,~ ;
- er the LQase is in ~ooa stan:?in`,, ai~d if it is not, th-: pa-r~~c- t
u)_ar~ iii ti•;hlch it is no~: ~r,~i fai lure to provic3e such st;~:t.~•i:~.=.nv ;
sh~'_1 con ~~iLU~.e « 1°epre:-enf;~tior~ th~t th~ Lea~e is in ~;ood ;
- st;~iz:~i~,,; ti:'r,ic}; ~?i?,y bL r.elied upo~~ by ar.;t t}lir•d part;~ as be_f_r,,; ~
Y,ruc~ a~~d co2~i•ec~. s
= :
= d. ; 11 ab?i~ut'~GT)s as~L;,:~~1 2i~~ ir:~:~oeed by the ~er~.~ ~.rr] ~
ccr,:'itio:~:: h~reoi ai°•~ coven~ r.~s rtznnin~ ~ r.Ith Ll~~ 1~_:~_? an•.t ..i-~ ~11 ~
- ~ucc~~ ~ive]_5~ u~,cn ~.rr o~c~~sion of an; t;ra.r:~,f~.r or ~.s..i~;:~•• :
~
m~~r~t ar~ int<,i-.~st in i,~~e i>cr,~3:.c~1 ~'rer~? ~e ; or t;}1is I~-^s~:. ~
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go~197 ~~E1544 ~
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