Loading...
HomeMy WebLinkAbout1908 i MANAGEMENT AGREEMENT THIS AGREEN~NT made and entered into this 23rd day of ~ Mav , 1973, by and between ISLAND HOUSE OWNERS ~ ASSOCIATION, INC., a Florida corporation not for profit, herein- after called the "Association"; and ATLANTIC CONDOMINIUM MANAGEMENT CORPORATION, a Florida corporation, hereinafter called the "Manager", which terms "Association" and "Manager" will be deemed to include the successors and-assiqns of the said parties; and ATLANTIC CONDOMINIUMS, INCORPORATED, a Florida ; corporation, in its capacity as developer and owner of the real property hereinafter described, its successors and assiqns; W I T N E S S E T H: WHEREAS, the Association was organized to provide an entity pursuant to the Condominium Act, which is Chapter 711, Florida Statutes 1971 (as amended), for the operation of three separate condominiums, denominated Island House Condominiums, Phase I, Phase II and Phase III, to be established by Atlantic Condominiums, Incorporated, a Florida corporation, hereinafter called the~"Developer", upon the land in St. Lucie County, Florida described in Exhibit "A" attached hereto and by this reference made a part hereof, and WI~REAS, it is anticipated that each of the three separate condominiums established or to be established by the Developer _ upon the land described in Exhibit "A" will include condominium apartment buildings as follows: Island House Condominiums, Phase I - 4 buildings Zsland House Condominiums, Phase II - 3 buildings Island House Condominiums, Phase III - 4 buildings f WHEREAS, the Developer will offer the apartments of each of said condominium apartment buildings comprising the three separate condominiums for sale and the owners thereof (including the Developer) will be unit owners as def ined by the Condominium ' Act and will become members of the Association and be required ~ to pay assessments for the common expenses of said condominiums; i and ~ ~ ~ WHEREAS, the Association has entered into a Long Term Lease with Gu1f=Atlantic Investments of Fort Pierce, Inc., a Florida corporation, hereinafter called the "Lessor", which has been recorded in the public records of St. Lucie County, Florida, whereby a parcel of land in St. Lucie County, Florida contiguous to the land described in Exhibit "A" and as more fully described in Exhibit "B" attached hereto and by this reference incorporated herein has been leased unto the Association; and WHEREAS, certain recreational facilities, as are more fully described in said Long Term Lease, will be constructed by ~ Lessor upon said parcel of.land leased to the Association for the use of the owners of such apartments and the tenants of such owners, their visitors and guests, and others; and WI~REAS, the Association and the owners of said condominium ~ ~ apartments will be required to pay rent and other monies to Lessor ~ upon the substantial completion of said recreational facilities; ~ and they will have certain other obligations under such Long Term ~ Lease and agreement, as are more fully described in said instru- ments; and EXHIBIT "G" ; ~ ~ TH!S INSTRUMENT PREPARcD BY: p~ Frank H. Fee, III, Esquire, of ~ SOUK~~4 PACE~~07 Fee, Parker & Fee, P. A. FEE. PARKER & FEE. P. A. First Federal Building ATTORNErS AT I.AW Fort Pierce, Florida 3?A50 POST OFFICE BOX FORT PIERCE. FLORIUA 33450 _ _ _ '.3 'i ~ _ ~ r."'+ ~r _ "Sr 'c:a'.- - '3"-3t ~ . ~ ~~rr~3'~` _ ~ y^¢~l~