HomeMy WebLinkAbout0861 by ~rirt.u.• of tt:~ D~_~::larstion c~f Condo~ninium~ shall not t~~rminate
this L~~~~s~~. !n tt?~: ~.~v~:nt of voluntary or involuntary term-
inatior~ cf tt~~c: L«:ssee~ wherc.~in the Condomini~m is not likewise
terminatrd, th~~ ~uccessor associatian to the Lessee. organized
or ccns;.ituted d~.cording to the applicable statutes of the
State of Floricia ~s contained in the Condominium Act, shall
assume ~nd sh~-~'.] ch~~rged alith all of the duties~ obligations .
an~ r~~sF.or~siL:.'. i~~~ or the Less~~e he.reunder. In the event of
a v;,luntary cr i:,.~aluntary termination of the Condominium all
of th:.s: ~;ers;.;~s o?;r~ing a condominium unit as of the date cf term-
inati:.n ct th~ ndo;ninium sh~ll automatically and hy operation
o: the L~:ase ~:.~..tly ~nd s~veraily constitute the Lesse~. here-
under and shall jaintly and severally be obligated to per:orm
each and every of the Lessee~s covenants and promises and under-
takings herein E:r~vi~led for. Upon a condominium unit o~~vner
acquiring an int~rest in the Lessee's rights under this Lease,_
or becoming a Lc~ssee under the terms of this Lease, by rescn~of
termination of th~ C.ondominium~ his rights hereunder may there-
after be assignel cnly if there ttien be no default in any of the
provisions of this Lease, a~~~d only if such assignment be in
connect~an wit~? ~ sale, transfer, or hypothecation of all of his
rights in the Frcperty which was~ prior to termination of the
Condomi~ium, ccnd:,t:inium property, excepting o~ly and prcvided
that insti;.u:i:.nsl first mortgagae which shall b~c~~e an
' owner of a conlominium unit or a tenant in common in what had
been condominium property by foreclosure of deed in lieu of fore-
closure, shall n4.t be liable or obligated in any way by the
prcvisions of this section, but the grantee of any such instit-
utional mortgagee shall be fully liable and obligated for the
` payment of a proportionate share of the rental due and attrib-
utabl~ to su:.h c::~dor~inium unit during such period of time as the
con:lomir.ium unit stiall be cccupied by a tenant or lessE~.e hclding
under, by or thraugh such institutional first mortgagee.
i
~ 34. W~iver of ki hts. The failure of the Lessor to enforce
! any covenant, ob igation or agreement of the Lessee herein con-
~ tainad shall not constitute a waiver of the right to dq so there-
; after, nor shall it constitute a waiver of the right to enforce
any other covenant, obligation or agreement herein contained.
35, tirnendrnents. Once recorded, this Ninety-Nine Year
Lease may not t~e amended except by instrument in writing exec-
uted by the parties hereto, duly recorded in the Public Records
of St. Lucie County, Florida.
36. ~::i•i~-s. A copy of t}lis Ninety-Nir~e Year Lease m~y be
exhibited or d~:livered to eech person contracting to acquire a
condaminiurn unit in the Condomini~m from the Developer~ for the
purpose ot msking f~ll disclosure or all-of the terms and pro-
visic~~ herecf. :.ach such person ExFressly agrees and conspnts
tha ~::.inc; ~~n~c s. deletions, addi ~ions and amendments rr,ay be ,
madc tc th.is L~as~~ :.xior tc tt~~ reccrdation thereof, and without
further advic~ cr r;,tice to such ~erson, for the purpose ~f
correcting typo~r~:.r.ical errors, cc.:~alying with the requirements
of an institu~i;,nai :.:crtgag~-e, or fcr othei reason, provided
such deletion, addition and/or amendr~ent shall nct materially
adverselr ~f:~ct th~ :igt-.ts such Yerson cr_the Lessee here-
under.
37. ~:F..:f~-r =r.d Us~ of ~inqular or Flural. W~herever the
context herc:.: sc r~~quir~d cr perrnits the use of the singular
shall ir~clude th~ ~,lural~ and the use of the plural shall include
the singular; ~~r.~ ~ha use c: any gender shall include all genders.
_ ~ e°o~r 2z~ ~E 861