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HomeMy WebLinkAbout0059 Lessea shall be Non-Exclusive, it be?ng~h4Teby acknowledged ~nu agree~ that the Lessor has heretofore or shall hereafter enfier into similar non-exclusive ninet}•-nine year leases with other condorninium associa- tions formed for the purNose of administrating the affairs of other condominiums at the Colonnades Condominiums complex. The Lessor further reserves the right to 2ease or contract for the use of the Demised Premises by oth~r groups or persons, for the purpose of enabli~g the cost of maintenance and operation thereof to be opportun~d amongst a larger number of persons, provided, however, that at such time as all - of the condominiums to be located in th~ Colonna~es Gondominium Complex shali have been completed, all agreements or Ieases :or the use of the Demised Premises by a~yone other than such association or the residents and occupants of the sa~d Colonnades Cond~miniums, shall Lerminate. It is recognized and acknowledged that the Lessor under the terms of this Lease may be one or more of the officers a~d ~irectors constituting the original Board of Directors and Officers of the Lessee, and that aIl of the persons constituting the orig~nal Board of Directors and Officers of the Lessee and persons who may be subject to the control or influence of the Lessor. Each apartment owner, for himself, his heirs, successors and assigns waives all objection to such circumstance and ratifies and agrees to be bound by the terms and provisions of this Lease to the same extent as if h~ had joined in the execution hereof for a~l purposes herein expressed, as well as for the purpose of: (ai subjecting alI of his right, title and interest in his condominium apartment and ~o the corunon elements appurtenant thereto to the 2ien rights granted the Lessor under the provisions hereof; (b) agreeing to perform each and every of the cove~ants, promises and undertakings to be performed by condomislium avartment owners wherever so provided in this Lease; and (c) ratifying, confirming and approving each and every provision herein contained, and ackn~wledging that alI of the terms and provisior.~ hereof, including the ren~al reserved, are reasonable. a. The Lessee shall canstitute the irrevocable agent in fact, with full power af substitution, of each and every act and thing required of apartment unit owners pursuant to the provisions of this Lease, and to consent to and execute any and all documents, where necessary, to effectuate any and all of the ~ provisions of this Lease. In ~he event any of the provisions of this Lease shall be in conflict with any of the provisions of I the Declaratia^~ af Condominium, the provisions of this Lease shall control, except with the express written consent of the Lessor to th2 contrary. ' b. The ~ental herei~ provided for to be paid, the cost ' of repairing and ~ain~azning the Demised Premises in good cQndition and repair, and of replacing portions thereof, as- ~i necessary, and other undertakings and obligations herein i previded for, shall constitute a common expense of the ' Condo~i~ium. i ~ c. Each ~ondominium apartment unit owner shal? have the ~ right to use, occupy and enjoy the Demised Premises thraugh ! the Lessee, subject to all of the provisions of this Lease, ; the Declaration of Condominium, the Certificate of Incorp~ration ; and the By-Laws of the Lessee, and such rules and regulartions-- i which the Lessee may from time to time adopt. I i d. Use of the Demised Premises shall be subject to all ~ Iaws, statutes, ord~nances, rules and regulations of appro- priate government~l authorities, and to the rules and regulations of the National Board of Fire Under~vriters, or in the event it shal~ terminate its present functions, then of any other body exercising similar functions. All use of the"Demised Premises shall further comply ~R:ith requirements of all insurers carrying insurance in force with respect to the ~emised Premises. , i - ~ ~ t , ~ ~ ~ - 2- - - - ~ 4, ~ _ _ _ _ . . : ~ _ . ~ -