HomeMy WebLinkAbout0050 in rent shall inure to tne benefit of the institutiona 1
first mortgagee acquiring title to such condominium unf t, ~
its assigns and successors, and such reduction ar~d credit
sha11 be permanent and continuing in nature, for the term
of this Lease. Noth3ng herein contained shall operate as ~
an ex tinguishment of this Lease, in who le or in part, or ?
as a termination of the Lessor~s lien, afore-described, ~
as aRainst the entire condominium property, except as to
a condominium unit foreclosed upon, and to the extent here-
in provided. Notwithstanding reduction of rent payable
under the provisions hereof, the owner or occupant of ar~y
cc~ndomin~um unit as to which an institutional first rr~rt-
gagee has acquired title, whether by conveyance in lieu of ~
foreclosure or by foreclosure, shall have the full right i
to en~oyment and use of the recreational facilities in the
same manner 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.
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18. Consent and Ratification of this Lease b Unit Owne rs. ~
Each and every person, w e er na ura or corpora e, w o s acquire
or ±ake any tit?e er jnrerest whatsoever in or to a condominium apart- ~
ment unit in the Condominium, shall by acceptance and/or the recordation ~
of the deed, grant, assignment, or other instrument granting, conveying
or Froviding for such interest, or by the exercise of the rights or uses
g ranted therein, be deemed to have consented to and ratified the pro-
visions of this Lease to the same effect and extent as if such pe rson
or persons had executed the lease with formalities required in the deed, i
and shall be deemed to have subordinated and sub~ected each arxi eve ry
interest of such person to the terrr~s of this Lease, including the pro-
visions providing for thQ Lessor~s lien rights in the condominium prop-
erty and in the condominium apartment units.
l~ ~ctaionrr,cr~t.
~ ~ s ~-O+
a. Provided that this Lease is not in default arid is in
good standing the Lessee may freely assign the same provided that ~
no such assignment or transfer shall be valid unless the assignee
shall expressly assume and agree to perform each and every one
of the covenants of this Lease wich, by the termg hereof, the
~ Lessee agrees to keep and perform, said assumption to be evide nced :
by written instrument, executed 1n recordable form, ar~d delive red ;
? to the Lessor after the same has been recorded in the Public Rec- ~
~ ords of St. Lucie County, Florida. No such assignment, transfer, ~
~ or assumption shall operate to release a prior Lessee from any
~ of the obligations hereof, and no such prior Lessee shall be re- ~
~ leased unless and unti~l a written discharge, or release of such
= Lessee, du~y executed by the Lessor, shall be recorded amongst ~
the Public Records of St. Lucie County, Florida. -
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b. The Lessor shall have the right to assign and to en-
cumber its interest under this Lease and to the Demised Prem-
ises without the consent of the Lessee, provided, however,
that the Lesaee shall, at the Lessor~s request, sign and exe-
cute such instruments as may be required or requested by the ~
Lessor to effectuate such transfer or encumbrance. ~
~
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c. Each of the parties hereto agrees to provide the other,
~ within fifteen (15) days af'ter written request therefor, a
~ statement of the status of the Lease, in writing, advising wheth-
er the Lease is in good standing, and if it is not, the partic-
~=d ulars in which it is not; and failure to provide such statement ~
~ shall constitute a representation that the Lease is in good ;
~ standing which may be relied upon by any third party as being f
true and correct.
, ~
d. A~1 obligations assumed and imposed by the ter~ and
~~z conditions hereof are cover.ants running with the lar.d and shall ~
~ pass sucessively upon the occasion of any transfer or assign- ~
ment of an interest in the Demised Prernises or this Lease. s
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LAW OFFICES OF GOLDSTEIN. FRANKLIN, GHONIN 8 SCHRANK. P. A.. 2020 NORTHEAST 163ao STREET, NORTH MIAMI BEACH. FLORIDA 33162