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NIh~TY-NINE 1'EAR LEASE
THIS LEASE entered into by and be±ween Ft. Pierce Construction
Corporation, a Florida corporation, iiereinafter caZled the "Lessor",
and COLONNADES CONJUMINIUl~tS ASSOCIP_TIOrd I~C. 7, INC. , a~ co.rporation
not for profit under the laws of the Sta~~ of Florida, hereinafter
called the "Lessee".
WI TNESSETH:
1. Demise. Upon the t~rms and co~ditions herein set~forth ~.nd
in consider^
ation of the prompt payment from time to time by the Lessee
of the rents and other sums of money herein~fter set forth, and in
consideration of the prompt and continuous performance by the Lessee of
each and every of its covenants and agreeT~nts herein made to be kept
and performed, the Lessor does hereby leas~, 1et and demise unto the
Lessee, and the L~ssee does hereby lease of a~d from the Lessor, the
following described property, lying and being situate in St. L~tcie
Countu, Florida, to-wit:
j'roperty more particularly described on Schedule "A", which
is attarhed hereto and macle a part hereof.
All af 5aid property, togeth~x with the appurtenances thereto and
together with a7.1 improvements, buildings and structures now or
hereafter placed thereon, and all fu_*_niture, furnishings, f ixtures,
machiner}r and equipment, now thereon, and all additions thereto and
reYlacements thereof. being hereinafter called, referred to and
; included with~n the term "Demised Premises".
i
' 2. Term. The terms of this Lease shall commence as of the
date upon which the Declaration of Condominium of COLONNADES
CGNDOMINIUMS iv0. ? herei:~after referred to as the "Condominium",
shal~ be recorded amongst the Public Records of St. Lucie County,
Florida, and shaZ~ continue thereafter for a eriod of ninet -nine
, P Y
(99~ years.
3. Use of Fremises. The Lessee is the associa±ion formed
pursuant tv the applicabZe provisions of'+..he F?~rida Statutes for
the purpose of managing the affairs of the Candc,minium. The Lessee
has entered into this Lease to make available the demised premises
for the recreation, leisure time activity, health, us~, benefit and
en3oy:ment of the a~artment ~~it owners and/or the apartmer,t unit
, occupants of the Con~ominiurr, as they may from time to time exist
during the term of this Le~se. Usp of the Demised Premises by the
~Qt t~i~~ ~$E ~
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