HomeMy WebLinkAbout0855 g:,yee ~hall acquir~: titlcs to a condominium unit as a re- ~
sult ot a foreclosure sali~, then the rent provided for
and to be paid during the term of this Lease shall be~re-
ducsd by a percentage figure ~qual to the percentage in-
terest in the cornmon elements and i~ the common surplus
attributable to such condominium unit, and such reduction
in rent shall inure to the benefit of the institutional
first mortgagee acquiring title to such condominium unit,
its assigns and successors, and such reduction and credit
shall be permanent and continuing in nature~ for the term
of this Lease. Nothing herein contained shall operate as
an extinguishment of this Lease, in whole or in part, or
as a terrnination of the Lessor' s lien, afore-described.
as against the entire condominium property, except as to
a condominium unit foreclosed upon, and to the extent here-
in provided. Notwithstanding reduction of rent payable
under the provisions hereof~ the owner or occupant of any
condominium unit as to which an institutional first mort-
gagee has acquired title, whether by conveyance in lieu of
foreclosure or by foreclosure, shall have the full right
to enjoyment and use of the recreational facilities in the
same manner as though the said rent had not been reduced
and the benefit of the said reduction had not accrued to
the oYmer of the said condominium unit.
18. Consent and Ratification of this Lease b Unit Owners.
Each and every person. ether natura or corporate, who sha 1 acquire
or take any title or interest whatsoever in or to a condominium apart-
ment unit in the Condominium, shall by acceptance and/cr the-recordation
of the deed, grant, a$signment, or other instrument granting, conveying
~ or providing for such interest~ or by the exercise of the rights or uses =
granted therein, be deemed tc have consented to and ratified the pro-
visions of this L~ase to the same effect and extent as if such person
or persons had executed the lease with formalities required in the deed~ :
; and shall be deemed to have subordinated and subjected each and every
; interest of such person to the terms of this Lease. including the pro-
i visions providing for the L'essor's lien rights in the condominium prop-
~ erty and in the condominium apartment ~nits.
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~ 19. Assiqnment. .
~ a. Provided that this Lease is not in default and is in
i good standing the Lessee may freely assign the same provided that
= no such assignment or transfer shall be valid unless the assignee
~ shall expressly ~ssume and agree to perform each and every one
_ of the covenants ot this Lease which, by the terms hereof, the
~ Lessee agrees to keep and perform. said assumption to be evidenced
~ by written•instrument, executed in recordable form, and delivered
x to the Lessor after the same has been recorded in the Public Rec-
~ cords of St. Lucie County~ Florida. No such assignment, transfer,
~ or assumption shall operate to release a prior Lessee from any
~ of the obligations hereof~ and no such prior Lessee shall be re- •
~ leased unless and until a written discharge or release of such
~ Lessee, dul~r executed by the.Lessor, shall be recorded amongst
~ the Public Records of St. Lucie County, Florida.
b. The Lessor shall have the right to assign and to en-
cumber its interest under this Lease and to the Demised Prem-
ises without the consent of the Lessee, provided, however,
= that the Lessee shall~ at the•Lessor's request, sign and exe- -
cute such instruments as may be required or requested by the
Lessor to effectuate such transfer or encumbrance.
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~ " c. Each of the parties hereto agrees to provide the other,
~ within fifteen (15) days after written request therefor, a -
statement of the status of the Lease~ in writing, advising wheth-
" er the Lease is in good standing, and if it is not, the partic-
ulars in which it is not; and failure to provide.such statement
= shall constitute a reprPSentation that the Lease is in goo~i
standing which may be relied upon by any third party as being
true and correct,
e~x 223 F~~ 855
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