HomeMy WebLinkAbout1889 The Lessor, as soon as possible after the delivery
of a copy of each index, will furnish the Lessee with the
computation of the adjusted amount to be paid by the Lessee for
the three (3) year period in question. Pending the determination
of the adjusted amount the Lessee wi11 continue to pay the
amount of rent paid for the preceding period and, when the
adjusted amount is determined, the Lessor will pay to the Lessee
or the Lessee will pay to the Lessor such amount as may be
necessary to correct the amounts of the payments made pending
said determination. If at the times required for the determina-
tion of the adjusted rent said Index is no longer published or
issued, the parties will use such other index or method as is
then generally recognized and accepted for similar determination
of purchasing power; and if no other index or method is generally
recognized and accepted at any time when the Lessor is required
to furnish such Index, the Lessee will continue to pay the amount
of rent paid for the preceding period. However, it is understood
that if the publication of said Index on a monthly basis is
discontinued and it is published at some other interval, its
use by the Lessor and Lessee will not be discontinued. In ~
such event the Index for the period closest to the month for '
which an Index is required to be furnished will be used.
All rent will be payable in advance on the first
day of each month dnring the term of this Lease, commencing on
the first day-of the first month following substantial completion
of the recreational clubhouse, swimming pool, shuffleboard
courts, roads and walkways hereinafter described in Article 5
of this Lease and continuing for the remainder of the term
hereof.
All rent wi1Z be payable in current legal tender
of the United States of America as the same is constituted by
law at the time due, at such place as the Lessor may from time
to time specify in writing by notice to the Lessee in the manner
hereinafter provided for the giving of notices.- If at any time
the Lessor accepts anything other than such current 1ega1 tender _
as rent, it will not be construed as modifying the provisions of ,
this paragraph as to any subsequent rent; and for the present
and until further notice, the Lessor specifi~s that the rent
will be mailed to it at P. O. Box 3152, Fort Pierce, Florida
33450. All rent will be payable without notice or demand.
4. OBLIGATIONS OF APARTMENT OWNERS FOR RENT AND OTHER
MONIES. -
Each owner of a condominium apartment located upon ~
any portion of the land descri.bed in Exhibit B that is under the ~
operation of the Lessee will become severally obligated to-pay a
part of the monthly rent provided for in Article 3 of this Lease, ~
at sssch time as a Declaration of Condominium submitting the land i
upon which his apartment is located to the condominium form of '
ownership is recorded in the public records of St. Lucie County,
Florida. Such part will be the same amount that is attributed
to his apartment in determining the total rent due the Lessor, ~
($20.00), as such amount may be adjusted under 1~rticle 3 of
this Lease.
"Al1 such owners of the condominium apartments located
upon any portion of the land described in E~ibit B that are
under the operation of the Lessee will also become severally
obligated to pay equal shares of all monies other than rent,
due to the Lessor by the Lessee under this Lease, subject to
the provisions of Article 13 hereof. Provided, how~ever, that
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FEE. PARKER & FEE. P. A. p}. ~~~n
AT70.7NEV5 AT LAW D1J~~~~~
POST OFFICE 60X 1000
FORT PIERCE. FLORIDA 33450 ~
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