HomeMy WebLinkAbout0915 L~,ssc sh:.~jl t~~ Noi~-f:x~:.l usiv~: ~ i~ l,~~ir~y t~i-r~~~,y ,,cknc.wl~dyc,ci :~nd ~gre~:~d
that the Le~;;sor h~+s h~~r~ tot ore oi• ~I?.~1 1 t;~~r~~.,f ter ~:nter into similar
non-exclus.~vc: nin~•ty-nine yc:.,r 1~:,~J~'J tivith other condominium associ~-
tions formed for tl,t ~~ux•post~ ~f ~,ci~nir?istrati~g the affairs of other
condominiums at th~ Colonn~d~s Conctc~rniniurr?s complex. The Lessor further
reserves thc right to ~r;~se vr contr~ct k~or the use of the llemised
Premises by othc:r groups or p~r:;on~, for the purpose of enabling the
cost of maintc.~n.~nc~ an,~ o}~e:rati~n thc~reof to be epportuned amc~ngst a
larger number oi p~rsons, ~rovici~~d, huwever, that at•such time as all
of the condominiums to bc~ loc~t~~~i in th~: C~lonnades Condominium
Complex sh~l.l h~~v~. b~~n comp!.~t~~~i, all ~greements or Ieas~s for the
use of the '~~~nisc;d E~r~~~nises by .,nyon~~: ath~r than such association or
the resid~nts :~nc3 ~ccupants ot th~~ ;;~,id Colonnades Condominiums, shall
term~nate. Zt is recoy?~izt-d .~nci ~c).'nawlc;~.~ged that the Lessor under
the terms o.f this L~~a se m~y b~; onc~ or more of the. of f icers and
,i~irectors constituting thcr ~rigin~l Board of Directors and Officers
of the L~,~ssee, ~nd th~~t ~~11 of th~ persons constituting the original
Board of Directors ~nd Offic~~rs of th~ Le$see and persons who may be
subj~:ct to the c~~ntrol or influ~~nc~ of thc: Lessor. Each apartment
own~r, for himself, his ti~;r~, successors and assigns waives all
objection to such circumstance: anc~ ratifies and agrees to be bound by
the terms ~~nd ~~rovisions ot this L~~~se to the same extent as if he had
joined in the execution hereof for all purposes herein expressed, as
well as for the purl~os~ of: (a) subjecting all of his right, title
and interest in hi~ condocninium ~~;artment and to the coRUnon_ elements
appurtenant thertto to the lien rights granted the Lessor under the
provisions hereof; (b} agreeing to perform each and every of the
covenants, ~rc~~ni~.•s .~nd :,r~d~rt.~kinc~~ to be performed by condominium
apartm~~nt ovmers vJt~Ejr~;ver so provided in this Lease; and (c) ratifying,
confirming and .~p~.rvving ~~ch ~ncl cvE.ry provision herein contained, and
acknowledginc~ th•~ t.~11 c~f ~ th~: t~ r~ns ~nd provisians hereof , including
th~ rental resc:rvt~;l, .,r~ r~~.json:~t~1~-.
a. 1~h~~ L~ ~se~ shall cor~stit~te the irrevocable agent in
; fact, with ru~l F>ower of substitution~ of each and every act
; ~nd thiny r~,cauir~d of_ aF,.~rtrnent unit owners pursuant to tl~e
i provisions or tt~i5 Le:~st, .~r~d r_o consent to and execute any and
~ all doc~rr~ents, whc~i~~ nec~ss~ry, to effectuate any and all of the
~ provisions c~f t}?is Leas~. In th~.~ evant any of the provisions
oi tt?is L~~~,~- ~~s!?;~~ 1 be in conflict with any of the provisions of
the Declar~tion oi Condominiurn~ the provisions of this Lease
sha11 c~ntro~. ~xc~.,pt with the express written consent of the
L~ssor to th~~ contrary.
b. The rF~ntal herein provided for to be paid, the cost
or repairir~~~ ~ri~~int~inin~, tl,~• Uemised Pr~mises in good
conciition ~nd r~•p~ir, ~nd c,f r~r~lacing pc.rtions thereof, as
neccss~~ry, ~~r?d c~th~~r unde~rt~~kings and obligations herein
provid~ci IGI'~ ~,t?~~11 cr,nsti.*ut<, ~ common expense of the
Condorninium.
c. Each car?.i„miniuin ~E;~~rtr~tnt unit owner sh~ll have the
right to use, occuc~y and cnjc.y the Uemised Premises through
the Lesse~: ~ aubi<-~c t±o a~ 1 of the provisions of this Lease,
the Jecl~r~tzen~ ~~f Gondorninium, the_Certificate of Incorporation ~
~nd the Fiy-L~w;> ot the L.~ss~~e, and such rules and regulartions-
which the Lc:ss~~ mdy from time to time adopt.
d. Ust: cf the Dernisc;d F~remises shall be subject to all
laws, sLatutc:s, ardin~nccs, rules and regulations of appro-
priat~ c3ov~rnrr~en±~~1 uu*horities, dnd to th~~ rules and regula~ions
of thc '~~tion:jl ?.s~,~rd of i=ir~ Underrvriters, or in the event it
sha~l ter~r?in~; t~ i ts prE:~sent functians, then of any other body
exercisin,~ ~irnil~+r f;~ncti~-~ns. ~~ll use of the Uemised Premises
sh~Il f~~r±h~~r c~~m~,ly ~f~irh r~yuir.:snents of ~11 insurers carrying
insurar~c~~ in forc~~ v:itt~ rc:~~;~~ct to the Demised Premises.
8~~~23 ~x~ 92
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