HomeMy WebLinkAbout0569 ~t is furtnar cover.anted and sgreed by an~ between tr~
r~~~ies hereto, in tne event of the termination o~ this lease at
a;.y ~ima bafore tha expiration of the term of years hereby created,
~or tne breach by the Lessee oF'any of the covenants herein contained
in such case all of the right, estate and interest of t e
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~.~ssae in and under this indenture and in the demised premises
;.4~~inaaove described, and all improvements, buildings and the
~~~s~e's interest in all furniture, furnishings, fixtures and
.~;;u~~.~ar.t then situated in the said demised premises, together with
G~,~i ;za~s, issues and p:ofits of said premises and t: e improvements
w:~etner then -accrued or to accrue, and all insurance
;;,~~;.ies ar.d all insurance moneys paid or payable thereunder, and
~yj~~.~,. ~:zan entire undisbursed 'valance of any building escrow fund
~:.a antire undisbursed balance o: any then existing joint ban',t
w:..:;,::a~ which may have been created in connection with the collection
c~ ~~,s;zrance, anc all of them, sha~Il, without any compensation
~:.~~a~or unto tY~.e Lessee, at once pass to and become the property
o~ :.:.a Lessor, not as a panalty for forfeiture, but as liquidated .
;:,;.::.~Ses to Lessor because of such default by Lessee and the
cc.^.sequent cancellatio:~ of the lease, each of the parties acicnowledgir.g
~o be t:-.e ~act that for breach and consequent cancellation of a
~o:.~;-ter:n lease of this character, the Lessor will sustain substantial
c~::.~ye, being damage of such character as to make it most burdensome
a:.3 :.e~~ous, if not actually impossible, to ascertain with r,~at'r.e:.~atical
:racision, and each of tr.e ~arties, therefore, having agreed upon
~.s provisio~ for liquidated damages in the interests of obviati:~g
w:~:. would otherwise be burdensome and difficult litigation to
€ ~;,~~:.::ain or ~o siefer.d, as the case may be; and this provision ior
~ iic::i~ated damages has been taken in~o account by both parties in
~ f ~x~r.g the terms of and the consideration for the making of this
~ l~ase. .
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~ I. The Lessee pledges with and assigns unto Lessor, subject to
~ `::e Lessor's undertaking to join in mortgages provided for herein,
~ o~ ~he rents, issues and profits which might othe-rwise accrLe '
~ ~:~a Lessee, for the use, enjoyment and operation of the demised
~ ~~a:~ises, and in connection wit:: such pledging of the rents, the
~ Lessae covenants and agrees with the Lessor that if the Lessor, upon
~ ;.:.c: default of the Lessee, elects to file a suit in chancery to
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en~~-rce or cancel the lease a~d protect the Lessor's right t ere-
~y 1 to an
~ u:,;:.:r, tnen the Lessor may, as a.~cillary to such suit, app y y
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~ c~a~~t having jurisdiction thereof for the appointment of a Receiver
~ o~ ail and singular the demised premises, the improvements and
:~::il~izgs located thereon, and the furniture, ~urnishings, f~xtures
Q: ~ equip:~ent cor.tained therein; and thereupon it is express y
cova:.4nted and agreed that the court shall forthwith appoint a
d duties of Receivers in like
< :cec~~ver with tr.e usuai powers a:.
P:~ c~s~s , and sLCh avpoint.tent shall be :nade by such court as a matter
ict rignt zo tha Lesso~ and without referance to the adequacy
= o~ :.:~uequacy of ;.2^.e vaiue G~ the prove~ty which is subject to the
- :c.~ord's liar. or to the so+va:.cy o~ insolvency o~ t:~e Lessee and
w~-::.out referenco to the commission of wacte.
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LAW OFFIGES BART L. COHEN, CITY NI.TIONAL BANK BUILOING, MIAM1, FLORIOA
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