HomeMy WebLinkAbout0234 in ran~• s~zall tnure to t2~e Lenefit oi' the it;stitutio~~.zl ~
fii~st r.:ortr-,a~ ce ucquir~ng t.itle to ~uch con~oniii~ium unit,
its tzssi~;ns and successors, and such reduction an~ cred3.L ~
shall b~ per;;~a~ent ai:~ continuii~~; in nature, fbr the ter;n ,
of this L~ease. Nothin~ hercir, contained s1~a11 ~~~~rafi.e as 3
AIl ext;in~uishr,.~ nt of Lhis Lease, in whole or in part, or '
as a tern:inatlon of i;he Lessor's lien, afore-descr~bEd, ,
as a~;ainsi: th~ entire con3ominiu.~ prc~gerty, except as to 3
a condom3iiiun: unit foreclosed upon. an3 to the extent here- ~
in provided. I~otwiLllsi:andin~ reduction of rent payable
under the provisions hereof, the o;aner or occupant of any
con~ominium unit As to which an institut~ional first mort-
~a~ee has acquired title, t~rhether by conveyance in ?ieu of ~
foreclosure or by foreclosure, s~iall l~~ve the rull ri~ht
to en~oy»:ent and use of. the recreational facilities in the
sa~j~e nianner as thoii~;h t}ie said rent had not been reduced
and the benefit of the said reduction had not accru~d to ~
the own~r of the said condom.inium unit.
18. Consei~t ar.d Ratif
icatlon of this Lease_by Unit Owners.
Each ar,d every person, Vriie er na~ural or corpora e, w o s la acqu~re
or take any t~itle ur interest whatsoever 3n or to a condominium apart-
ment unit in the Conclom~nium, shall by acceptar~ce a:~3/or the recordation
of the deed, ~rant, assi~nment, or other instru*r.ent grantin~, convey%in~
or grovidin~ foY° such ini~erest, or by the exercise of Lhe r3_~hts or uses
granted thereir~, Ue deen~d to have consented to and ratified the pro-
visior~~ of this Lease to the sarr~ effect and extent as 3f such person
or persons had executed the lease with i'orir~lities required in the deed,
and ~hali be deem~d to have subordinated and sur3ected each arra every
int;erest .of such person to the t~erms of t~~is Lease, includir~; the pro-
visions providir~ for tlie Lessor's lien ri~hts in the condominium prop-
erty and in the condominiur~ agart~rent units .
19. Assi~n~r.~nt.
a. Provided that this Lease is not in default and is in ~
` ~ood stand3~n~ the Lessee ma3T frtely._assign the san~ provided that
no sucl~ assi ~nm~nt or transfer shall b° valid unless the assi~;n~e
E shall expressl5? assume and a,r;ree to perform each and every one
E of tlle covenants of this Lease ~•:ic~i, by tlie terms hereof, the
~ I~essee a~rees to keep and perforrn, said assuinption to be evi.denced ~
f by wriL~en instrw~~ent, executed in recorclaUle form, and delivered
5 to the Lessor a~'i;er the sa.rr~:~ has been recorded in ttie Public Rec-
~ ords oi' St. Lucie County, ly larida. I~To such assignment, transfer,
~ or assump~ion shal? operatc ta re?ease a prior Lessee from any
~ oi' the obli~atior.s Z~ereof, and no such prior Lessee shall be re-
~ leased unless ar~tl until a~tiritten dischar~;e or release of such -
~ Lessee, dul3? executed by the IPSSOr, shall be recorded arr~r~st
i the Publi_c Recor~ds of St. Lucie County, I~'lor:Lda.
~
~ b. The Lessor shall have the ri~ht to assi~n anci to en-
~ cunber it;s interest under this I~ease and to t•he Denlised Frem-
~ ises VJ1t~lOL1~ th~ consent of the L°ssee, provided, however,
~ tlz~t the Lesssc siiall, at the Lessorf s request, siEil and exe-
~ cute : uch instru.i~nts as r?:a~~ be required o?~ renues~ed by the
~ Lessor to ef'f'~ctvate such transi'er or en~u~ribrance.
~
c. Each of the parties tiei°eta ~~1°ees to pro~~ de the otlier,
~ ~
v~ithin fif ~een 5) days after t•:ri.tten reques~ therefor, a
~a sLatem°~nt of the sL~t;us oi' the Lea~e, ~n writzn~, advisin¢ t•:heth-
er t;he Lease is in ~ood s~3I'YJ~I2~J an3 ii' it is not, the partic-
- ul.ars in t•:;~ich it i:~ not; ar~d ~'~il.ure t;o pr~ :?3d~-such sLateruenL
- sh:~ll const~_~ui,e a representatiion tha'~ the Lease J_~ in ~;aed
` s~~i:~~:i_n~ t•rhich r„ay t~e rel~ ed upon 't~y an~~ thix~d parLy as be..ng
- true ana corrcct.
.
d. ~11 o~~li~;4t;1_ona ~,.ssu:r~d an3 ir~~;~c,Ued by th.~ teri^s and
~ coz:c~it.ian: hez°~:of a?~e co~~::nants run~i~ r.~; ~•;it•h t;ize lan~ 32~!~ s}Ial:l
- p4 :>uce~;;~.veiy Up021 Lh~~ occ~.~torj of ~.ny Y,i~ansfer or u:,si~n--
rn~;nt of an 1~-~f,e~~~c ~L' in the L`e~~~~sed ~i°ir.~~i.ses or_• this l~~Z
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