HomeMy WebLinkAbout0226 d. `l~~he Lessee rnay, if it shall so desii•e, endeavor ai; any
t~me to contest the validity of any assessm~nt, or to obtatn a
lowerir.;; of Lh~; assessed valuation upon the Demised Premises for ,
the purpt~se of reducin~~ any assessr.:~nt•. Ir~ such ~vent the I.essor
will oi'fer no oU~ecLion and at the rc~uest of the L~ssce, without ~
expen~e to thc Lcssor, will cooperate ~~itti the I.essee. If re- $
quested by the Lesee, and provided he ~~lill not in the reasonable ~
~uc~~m~nt; of tiie Lessar incur at~y expense or li~bility ther~by, ~ ~
the Lessor ~vill execute any docuTNnts ~.*hich may Ue neces~ary arr3
proper for any such proceedin~s. Any rei~r~s shall Ue the prop- ;
erty of tl~e Lessee to the extent to which it rr~ay be baseci on a
payment of an assessmAnL macie by the Lessee. ~
e. The I.essor r~ay at any tin;4 require the Lessce to depos-
it funcis for the payment of
current taxes and assessments on the
Demised Premises in a bank or trust company selected by the I,es-
sor. Such f
unds shall be held in the name of tlie LeSSee, with ~
any interest payable to the Lessee, but the depositary shall be
~ prohibited from paying such i'unds to anyone other than the appro-
priate taxing authority except upon the written consent of the
, Lessor. The Lessee shall so deposit one-t~velfth (1/12) of the
current annual taxes, or those of the precedin~ tax year if the
current taxes have not then been fixed, on the Pirst day of each
month in advance, except th~t all additiona~l funds required for
any payr.ient shall also ~e deposited an the first day of the final
month during ~•~hich or at the end of which a payrr,ent is due and
payable vriLhout interest or penalty, and during r~hich the nkaxi- i
mum discount for early payme~t is allowable urxier the 1aw. Not- _
withstandir-?~ the foregoing, at such Yirr~ as the Lessor may first
require the Lessee to rrk~ke such depo.:its, the first deposit rn3de
by the Lessee shall be in an amount sufficient to crcate a banlc ;
balance equa~. to what it woul.d have been had the Lessor required
the first such monthly deposit to have been made on the first day
of the month 3mmediately succeeding the ~~~onth during which the ~
tax could have been pa3d with the maximum permissible discount
. i'or early payment al lowed under the law. ~
8. Insurance Prein3ums and Utilities. I~ssee covenants ami t
a~rees th%~ :-3 s~a pay prerr~ ums~3"o2~ a7Z' insurance policies whic2i
E the Lessee is obli ated to carry under the terms of this I,ease not
~ less than fifteen ~15)days prior to the date upon w2~ich the samc
E shall become due, ann that it t•rill exhibit to the Lessor proof of ;
~ such payir~nt ~vithin t.en (10} days after m.aking payrnent. The Lessee
; sh~ill furi;her make all necessary depos~lts in connection tr:itt? and
; pay all bills arr.i charges for gas, electricity, 11ght heat, poti~rer,
F ancl telephone or other communi.cat;:Lcro service, and far all other
~ utiliti.es u;;ed, renr3ered or supp~_ted on or in connectlon with the
~ Der~i.sed Pre~r:ises, and ~hall ind~mnify the Lessor a~;ainsL any lia- '
~ bility or dama~es on such accour~t.
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~ 9. Association and t~lana~;ement A~;reerr~nt. The Lessee, in it;s ~
~ capaci ty a:-~on3omin um ssoc~a~ion, as en~ered into a t~1anage~r~ent ~
~ Agreement ~•r1 Lh PLCAF riA1•7AGF,I~Zi~t:T COr^~YORATTGN as hiana~;er. The N~ana~er
~ has the atxLy and res~onsibility to perform a7.1 adminisi:rative and
mana~;eri_al acts requi red to be perrorn~d by the Lessee under t;his
~
Plon--r~:clu~ivet~:Inety-?::i.nc Year Leasc 2greement. - ~ ~
~
~ ])ue t;o tl~?e size and e~.t;E~nt; and the comp]_exil;ies involved in ~
aum_tnist;erln~; Lhe CUL41~3;•:tiD~.~ CU2•i;3U~~iINIt1;f C01•~iPL'~~, it is rrutu?.7.1y ~
J; a~;t°eed th~t in the event aforzsatd t'ar,a~;e~ilent k~reerrr~nt is ~:erminated, ,
the L~sgee sha11 cavse to be forcr.~d a iy?ana~e~~~t~t tlssociation c~n- '
~ :
s~_stinE of tY;e ~i:e-::Ler:~ of ~~1]. i.he Conclomin~urn ;~~sociations at ~
Colonr.: dr.;, Con~?o::-~iniu-n C~r~plex. '
'I~he o:•:.ler• oi' ea.ch eon3ominiu~a unit, as evi.denced by the reeordation
= oi' a deccl t.};ereto, sli~ll ~~ut;or:~atil.c~~lly becom,:. a r:er~~b~~r• oi t}ie h:an :t;-
~ ment, 1';soc:tation: in the event th-~t. the afore~atd f•'~Lnn~;err.ent P,~ree:r.pnt
- is t.er~n-ir.3tecl in ~r,,y mannLr. Each ccndor,~inium unit; sha~ I Lc entitled
- to ca.:> L- onc (1) voLe in i::~i:t:er u~or~ ttiJh:tch a vote is required . 7'he
~ af'fi7•r;~~t~iv~ vo~~.e oS' a m~t~~~r1.t~.y o: Lhe r~;~rr:ber:~ con~t;i~;u1;?i~f~, a quoru~n
sf-j^1]_ be nc_c~.:~::~r~y to con::t~c~ 1;he bu^i~z~~:z of tr~~ 1•'a?~~~~ens~r,~ /~s~~ociati~n.
- s°ooK 1~ Pac~ z,"~
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