HomeMy WebLinkAbout1896 premiums; but i! at any time during the continuance of this Lease
the Lessee sha.~l fail, refuse or neglect to procure any of the
policies of ~:lsurance required in and by this instrument to be
procured by lt or to keep and maintain same in effect or pay the
premiums therefor promptly when due, the Lessor may, at its option,
procure or renew such insurance and thereupon the amount or amounts
o£ money paid as the premium or premiums thereon, plus interest
at the rate of ten per cent (10$) per annum, wi7.l be collectible
as though it w~ere rent then matured hereunder and will be due and
payable forthwith. However, in lieu thereof and notwithstanding
the procurement and renewal of such policies by the Lessor, this
Lease may be terminated and declared at an end and all of the
right, estate and interest of the Lessee in this Lease shall -
thereupon immediately cease and become null and void. ~
}
12. EMINENT DOMAIN. ;
;
If any part of the Demised Premises is taken under the
power of eminent domain during the term of this Lease, the rent
herein provided for will continue~unaffected as to amount unless
such taking completely destroys the usefulness of the Demised ~
Premises for all purposes leased. In such event, the Lessee will
have the right to terminate this Lease by written notice to the
Lessor within thirty (30) days after such taking or to continue
in possession of an undivided interest in the remainder of the
leased premises under all of the terms and conditions hereof. A11
damages awarded for such taking will belong to and be the property
of the Lessor whether such damages shall be awarded as compensa-
tion for diminution in the value of the lease or to the fee of
the leased premises.
13. LESSOR'S LIENS. {
The 7~essor retains a lien on every right and interest
of the Lessee in and to this Lease and on the improvements,
buildings, equipment, furniture and fixtures now or hereafter
canstructed or brought upon the Demised Premises and on the equity
therein of the Lessee. Said lien is granted for the purpose of
securing the payment of rent and other monies herein covenanted
to be paid by.the Lessee and for the purpose of securing the
pertormance of all other conditions of this Lease to be performed
-and observed by the Lessee. -
The Lessor also reserves and retains-and the Lessee `
grants a lien against all land described in Exhibit B tr,at is
submitted to the condominium form of ownership by the Developer
and upon all improvements or buildings now located or hereafter
constructed thereon, for the purpose of securing it in the payment
of rent and all other monies due and to become due hereunder by the
Lessee. Said lien will survive the recording of Declarations of ;
Condominium whereby portions of such land will be submitted to
the condominium form of ownership; it will continue for the full
term of this Lease; and it may be enforced and foreclosed in
the manner in which mortgages upon real property are enforced
and foreclosed or, at the option of the Lessor, in any other
manner available to it.
A default arising from the nonpayment of rent or other
monies due to the Lessor by the Lessee under this Lease, by any
condominium apartment owner, wilZ not be a default on the part of
those condominium apartment owners who have paid the share of rent
and other monies for which they are severally liable; and the Lessor
may exercise its rights and have its.remedies as described in this
Article 13 only against the defaulting owner. Upon full payment ~
of arrearages, interest and attorneys' fees, the condominium apart- ~
ment owner making payment will be entitled to a recordable satis- ~
-10-
FEE. PARKER & FEE. P. A.
ATTORNEYS AT LAW
POST OFFICE 80X tODO Y 1{ L~r~i~95
FORT PIERCE. FLORIGA 33450 g~~K f U
~+"'a.'~ -_.-w .
' ~~r x ;~c-^'" -~y~•~ k ~-.i€ ~
a~v~,~z'~~'.,~~'~'~ . . 3+~=