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HomeMy WebLinkAbout2086 Declaration of Condominium, st~all not terminate this Lease. In tt~e event of a voluntary or i.nvoluntary termir~ation of the Lessee, wherei.n the Condominium is not likewise tezminated, the successor association to the Lessee, organized or constituted according to the applicable statutes of the State of Florida as contained in the Condominium Act, shall assume and shall be charged with all of the duties, obligations and responsi- bilities of the Lessee hereunder. In tlie event of a voluntary or involuntary termination of the Condominium all of thase persons owning a condominium unit as of the date of teMninafi ion of the Condominium shall automatically and by operation of the Lease jointly and severally constitute'the Lessee hereunder and shall jointly and severally be obligated to perfonn each and every of the Lessee's covenants and promises and undertakings herein provided for. Upon a condominium unit owner acquiring an interest in the Lessee's rights under this Lease, or becoming a Lessee under the terms of this Lease, by reason of termination of the Condominium, his rights hereunder may thereafter be assigned only if there then be no default in any of the provisions of this Lease, and only if such assignment be in connection with a sale, transfer, or hypothecation of all of his rig}~ts in the property which was, prior to termination of the Condominium, condominium property, excepting only and proLided thar. ~ any institutional first mortgagee which shall become an owner of a condominium unit or a tenant in common in what had been condomi.nium property by foreclosure of deed i.n lieu of foreclosure, shall not be liable or obligated in any way by the provisions of this section, but ~ the grantee of any such institutional mortgagee shall be fully liable and obligated for the payment of a proportionate share of the rental due and attributable to such condominium unit during such period of time as the condomi,-,iurn unit shall be occupied by a tenant or lessee holding under, by or through such institutional first mortgagee. 34. Waiver of Rights. The failure of the Lessor to enforce any covenant, obligation or agregnent of the Lessee herein contained shall not~ constitute a waiver of the right to do so thereafter, nor shall it con- stitute a waiver of the right to enforce any other covenant, obligation or agreement herein contained. i 35. Amendments. Once recorded, this Ninety-Nine Year Lease may not ; be amended except by instrument in writing executed by the parties hereto, duly recorded in the Public Records of St. Lucie County, Florida. ~ 36. Copies. A copy of this Ninety-Nine Year Lease may be exhibited ~ or delivered to each person contracting to aequire a condominium unit ? in the Condominium from the Developer, for the purpose of making full ~ disclosure of all of the terms and provisions hereof. Each such person expressly agrees and consents that minor changes, deletions, additions ~ and amendments may be made to this Lease prior to the recordation thereof, d and witl~out further advice or notice to such person, for the purpose of ~ correcting typographical errors, complying with the requirements of an ~ institutional mortgagee, or for other reason, provided such deletion, ~ addition and/or amendment shall not materially adversely affect the rights ~ of such person or the Lessee hereunder. ~ 37. Gender and Use of Singular or Plural. Wherever the context hereof so requires or permits the use of the s~.ngular shall include the plural, P and the use of the plural shall include the singular; and the use of any : gender shall include all genders, i 9 - IN WITNESS ~d}iEREOF, the Lessor has hereunto affixed its hand and { seal in Fort Pierce., County of St.-Lucie, State of Florida, and the Lessee has caused these presents to be signed in its name by its _ 20 _ s~: ~ ; ° R 237 ~A~E 2084 - ~OOK ~H y ~h: ~ g~ : ~ . - . . - " - ~ ~.i ~ ~iY"- _ t cs~..~`.? . . ~ ~ :_1: .