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Home My WebLink About0039 the commencement oP the term hereoP, that ia, ~h the firat day of the aanth immediately lcceeding the date upon Mh h the Declaration of Condominium is recorded in the Public Records oP Dade County, Florida, and aaid paymenta ahall continue until the firat day of the aanth immediately auccaeding the date upon ~rhich Admiral II ia aubmitted to condominium oanerahip by appropriate amendment to the Declaration of Corxlominium, and thereafter the Leasee ahall pay to the Leseor, aa rent, the sum oP Eighty (~80.00) Dollara per month, the firat such payment of auch increased aum to be due and payabla on the firat day of the a~onth ~ im~aediately succeeding the date upon which Admiral II ia submitted to condominium oxriership, provided, hoxever, the Leasee ahall receive as a credit against the monthly rental due as aforesaid until such time as ii 7J1 ~~iM11Vl'1NL l}Ml'IR V~ tiJl'tl t'lr.tiV ~ 61t! lt`61~il.fet6~ ialiVE3i` Jl•IJi1V N~ii'Eif3iiNC11G dated November 17, 1970, and knoti?n as Truet Number 2, hereinafter called the "Developer", shall have cloaed on the aale oP all condominium uriits, an amount of money computed by adding together the percentage ahare in i the common elementa appurtenant to the condominium un~ta r+hich the Developer haa title to as of the Pirat day of the m~nth for Mhich the ; rent is due, and multiplying the total monthly rental by the aggregate percentage figure thus obtained. The credit against rent thus received shall inure to the benefit of the Developer. a. Rent shall be payable in current legal ter~der of the United Statea of America at auch place or placea as the Leasor ; ahall from time to time in rrriting direat, and a place once ~ designated Por the payment of rent shall remnin such until it ~ ahall be char~ed b~r Nritten notice Prom the Lesaor. All rent = ahall be payable ~rithout notice or demand. F+or the present, and until further notice, rent shall be payable at the Colorinades Condominiuma, Fort Pierce, Florida. Waivers, indulgences or changea ' by the Lessor as to ar~q rental payment orrental pa~yments Mith ~ reference to the place of payment, or in accepting arprthing other than current leggl tender as rent, shall not be conatrued as a Maiver, indulgence or change upon ar~q subaequent occasion. b. Cost of living ad~ustment to rental. The month~y rent- ~ als herein provided Por shall be adJusted Prom time to time, as herein aet forth, to compensate Por any increase in the coat of ' iiiiii~ na vuuTru~@u v~r i•ci~i-'ai~~:c i.v ~iie niitu@A i~iiu~uci•~ ao 'vi ic- cember 1, 1971, provided, however, in no event shall the m~nth- j ly rentals herein provided Por ever be decreased, ar~d once in- ~ creased, pursuant to the provisions of this section, rentals i shall not thereaPter~be decreased. 6 ~ The index to be used shall be the "Consumer~ s Price Ir~dex, ~ ~ United States Average - All Itema of Food" published in the ~ = monthly Iabor RevieM oP the Bureau of Labor Statis tics of the ; United States Department of Labor. If the said indea ahall be- ~ = come unavailale, the indea to be used ahall be the "Consumer~s ~ ~ Price Index" issued by the United States Department of Labor for p K the South Atlantic group of states; and if bo th of the said ~ 4 indexes ahall become unavailable, the index to be used shall ~ - be the "Index oP the General Price Level" issued by the Fed- ~ ; ~ eral Reserve Bank oP Atlanta, Qeorgia. Ad~ustment in rentals ; due under the terma hereof shall be conq~uted on January 1, ; ~ 1973, and on the first day of January of each and every year : ~ thereafter, each of Mhich datea ia herein called a"computation f ~ date". Each ad~uatment shall be in effect comaencing from { ~ the computation date until the end of the ter~ unlesa further ~ r increased by ad~uatment at a subaequent date. The ameunt of ; 5~ ad~ustment ahall be arrived at by multiplication of the basic • ' - iwTa~`.T"aiji i-aia~~~ jiaitii~i pl'8iiiu@u Pi'iI' uji a Practi~r~, ~~i8 YYiIID@Y'8~ z tor of Mhich ahall be the index number Por December lst im- r - mediately preceding the computation date, and the denominator ; the index number Por December 1, 1971. Failure on the part of the Lessor to exercise the right to an ad~ustment in the basic ~ rental pursuant to the proviaions hereoP as oP any computation ; date shall not operate as a r?aiver of the right to an ad~uat- ` t _ ment and increase of the basic rental as of ar~y subsequent ar~d ~ future co~putation date. = 5. Rights Reserved Unto Develo er. Until the DeveLoper ahall ~ have comple~e3- i~evelopmen , p~om~~n and salea of all apartments ~ _ and shops to be constructed at the Condominium, it shau have the fol- ~ lorring rights xith regard to the Demised Premises, r~otrrithatanding ar~y _ other provisions of thia Lease to the contrary: ~ a. The rlght to use and occupy exclusive ~y ar~y portion of _ 3_ soo~ ~~8 YncE ~ ~\Y OFFICES OF GOLDSTEIN. FRANKLIN. C110NIN a SCHRANK. P. A.. 2020 NORTHEAST 163wo STREET. NORTH MIAMI BEACN. FIORIDA 33162 . .