HomeMy WebLinkAbout2791 ?.2. "Units of Participation". The Lessee is
initially assigned 30 "units of participation" which is based
upon the number of units (Lots 3 through 1?, both inclusive)
(each building counted as two units) in Windmill Village By
The Sea Unit 2 according to the plat thereof recorded in Plat
Book 16, Page 31, St. Lucie County, Florida, Public Records. If ~
the lessee iacreases its membership pursuant to paragraph 4.5(a)
hereof its number of "units of participation" will increase
by the number of units the owners of which become members of
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the lessee corporation. - ~
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?.3. Assessments by Association. The Lessee agrees
; to pay all assessments made by the Association for the purpose :
~ of paying the common expenses of the Recreation Center. >
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~ 7.4. Common Expenses. The common expenses of the
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~ Recreatioa Center shall include, but not be limited to, taxes, ~
~ insurance premiums, utility charges, repairs and maintenance,
salaries, reserves for repla.cements and improvements, cost of
operation of the Association, accounting and legal~fees and all
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~ other costs and expenses necessary and reasonable for the purpose
~ of~}~erating the Recreation Center. _
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8. SECURITY. For th~ purpose of securing unto
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the Lessor the payment of rent, and the common expenses~of the
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~ Recreation Center, and for the purpose of securing the performance
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~ of every and all of the covenants of the Lessee herein made for the
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~ use and benefit of the Lessor, the Lessee does hereby grant unto i
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~ the Lessor the liens described herein which shall be cumulative,
~ m without waivin the others ~
~ and the Lessor may exercise one or so e g ~
~ &4Gft~8 P~GF~ 1~
or may exercise alI simultaneously. . ~
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