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HomeMy WebLinkAbout0042 d. The Lessee may, if it shall so desire, endeavor at any time to contest the validity of any assessment, or to obtain a ~ lowering of the assessed valuation upon the Demised Prerrdses for the purpose of reducin~ any assessment. In such event the Lessor will offer ~o ob3ection and at the request of the Lessee, without expense to the Lesaor, will cooperate with the Lessee. If re- quested by the Lesee, and provided he r+ill not in the reasonable ~udgment of the Lessor incur ar~y expense or liability thereby, ~t_ T ~ 1 .i .......iw ~ ..1. w.n.. 1. ,n~nseooms er~i V3l~d 1/bG^13V1' fNiZl VA~~.~A1ii: ially ~.ItIV~Aiilr~iVJ ~ii'i~~~.~~ .~+.+J ar~ ?av.VVriesc~a~ - proper for any such proceedings. Any ref~nds shall be the prop- erty of the Lessee to the eatent to which it may be based on a payment of an assessment made by the Lessee. ~ e. The Lessor may at any time require the Lessee to depos- ~ it funds for the payment of current taxes and assessments on the Demised Premises in a bank or trust company selected by the Les- ; sor. Such funds shall be held in the name of the Lessee, with ~ any interest payable to the Lessee, but the depositary shall ~e prohibited from paying such funds to anyone other than the appro- ~ priate taxing authority eacept upon the written consent of the ~ Lessor. The Lessee shall so deposit one-twelfth (1/12) of the ; current annual taxes, or those of the preceding tax year if the i current taxes have not then been fixed, on thel'irat day af each month in advance, except that all additional funds required for any payment shall also be deposited on *,he first day of the final month during Nhich or at the end of which a payment is due arxi payable without interest or penalty, and during which the ma~:i- ; mum discount for early payment is allowable under the law. Not- withstanding the foregoing, at such time as the Lessor may firs t require the Lessee to make such deposits, the first deposit mQde by the Lessee shall be in an amount sufficient t~ create a bank balance equal to what it would have been had the Lessor required the first such monthly deposit to have been made on the first day of the month immediately succeeding the month during which the tax could have been paid with the maximum permissibie discounL ~ for early payment allowed under the law. ~ ~ ; ~ 8. Insurance Premiums and Utilities. Lessee covenants and ~ i agrees tha s a pay prem ums or a insurance policies which ~ ~ the Lessee is obli ated to carry under the terms of this Lease not ~ less than fifteen g15)days prior~to the date upon which the same ~ ; shall become due, and that it will exhibit to the Lessor proof of ~ ' such payment within ten (10) days after making payment. The Lessee ~ shall further make all necessary deposits in connection with and ~ pay all bills and charges for gas, electricity, light heat, power, and telephone or other communication service, and f'or a21 other ~ utilities used, rendered or supplied on or in connection with the ~ Demised Premises, and shall indemnify the Lessor against any lia- ' bility or damages on such account. ~ ~ ~ 9. Association and Management Agreement. The Lessee, in its ~ ~ capacity as on o n um ssoc a on, as en ered into a Management ; ~ Agreement with FECAP MANAGEI+~NT CORPORATION as Manager. The Manager ; ~ has the duty and responsibility to perform all administrative and ~ ::s manaRerial acts required to be performed by the Lesaee under this ~ ~ Non-E~cclusive Ninety-~Iine Year Lease agreement. ~ 3 Due to the size and eatent and the compiexiLies invoived in ~ administering the COLONNADES CONDOMINIUM COMPLEX, it is mutually ' agreed that in the event aforesaid Management Agreement is terminated, - the Lessee shall cause to be formed a Management Association con- sisting of the members of all the Condominium Associations at - Colonnades Condominium Complex. :a - ?'he owner of each condominium unit, as evidenced by the record ation - of a deed thereto, shall automatically become a member of the Manag- ; ment Asociation: in the event that the aforesaid Management Agreement is terminated in any manner. Each condominium unit ahall be entitled ~ ; to cast one (1) vote in matter upon which a vote is required. The ; t~ affirmative vote of a ma~ority of the members constituting a quorum ~ ; shall be necessary to conduct the business of the Management Association. ~ : 1 ~ _ _ 0 P, ~ 3 - 5 ~o~K198 r~~~ ~ LAW OFFICES OF GOLDSTEIN. FRANKLIN, CHONiN ~ SCHRANK. P. A.. 2C20 NORTHEAST tE3an STREET. NORTH MIAMI BEACH. FLORIDA 33162 _=y r'..