Loading...
HomeMy WebLinkAbout1888 i. DEMISE, ~ , , , The Lessor does hereby lease, let and demise unto the Lessee and the Lessee does hereby lease of and from the Lessor, the parcel of land in St. Lucie County, Florida, ° described in Exhibit A attached hereto and made a part hereof, ; together with the improvements, buildings, equipment, furniture i and fixtures located thereon or to be located thereon, pursuant ~ to the terms hereof (hereinafter called the "Demised Premises"). ; 2. DURATION OF TERM. The term and duration of this Lease will be for a period of time commencing on its date and continuing for a ! period of ninety-nine (99) years thereafter, unless sooner ~ terminated in accordance with its terms. 3. RENT. The Lessee will pay rent to the Lessor, on a ` monthly basis. The amount of said rent will be determined in the following manrier : ~ a. The sum of $20.00 will be multipl.ied by the ~ number of condominium apartments that are located upon any portion of the land described in Exhibit B and that are operated by the Lessee at the time said monthly rent shall be due and payable. b. The total of the sums calculated each month under the provisions of paragraph a. of this Articl~e 3 will constitute the monthly rent due and payable to the Lessor for the period of time commencing on the date that the first rent ; payment is due, as hereinafter set forth, and continuing for a . period of three (3? years thereafter. c. After the publication and issuance thereof, the Lessor will deliver to the Lessee a true copy of the Con- ~ sumer Price Index (hereinafter called the "Index"), United States City Average: Al1 Items of the Bureau of Labor Statistics of the United States Department of Labor for the month ending on the last day of the three (3) year period described in paragraph b. of this Article 3 and for the months ending on the last day of each third year subsequent to the e~iration of said ~ three (3) year period for the remainder of the term of this ; Lease. If the Index for the month~ending on the last day of i the three (3) ear eriod described in i Y p paragraph b. of this ~ Article 3 and for the months ending on the last day of each ~ third year subsequent to the expiration of said three (3) year period for the remainder of the term of this Lease shows a ~ decrease or an increase in the purchasing power of the sum set ; forth in paragraph a. of this Article 3($20.00), as compared ~ in each case to the Index for the month beginning on the date ~ that the first rent payment is due hereunder (the base month), said sum will be adjusted to an amount equal to the purchasing power of said sum during the base month; and such adjusted sum will be used to determine the total monthly rent due and payable to the Lessor, in substitution of the sum set forth in paragraph a. of this Article 3. Said total monthly rent, as adjusted, will be paid by the Lessee to the Lessor for each ~ suceessive three (3) year perio~ during the term hereof, commenc- ing at the expiration of the three (3) year period described in paragraph b. of this Article 3. -2- ; FEE. PARKER & FEE. P.A, B~r~K~~~ ~A~:~Q~~ ATTORNEYS AT lAW V POST UFFICE BOX 1000 FORT PIERGE. FLORIDA 33430 ' , r : ~ , ,`'ti~~~."'~'~° ~il='";r~,.,~:~ ; ' { ~ ;"c`y ~ _ a- ~ . e ~ ~ _ '