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RECREATION CF.NTER LEASE
THIS LEASE is made nnd entered inro on the lst day of March.
1578. by and between FIRST FEDERAL SAVINGS & LOA2~ ASSOCIATION OF :fAR:I::
COL'STY~ hereinafter referred to as the "Lessor" and HUTCHIt~S~P: ISLAtiD
RESORTS, INC.. hereinafter referred to as "Lessee".
WITNESSETH:
The Lessor and Lessee, each in consideration of the
agreements to be performed by the other. hereby agree as follows:
1. RECREATION CENTER PROPERTY LEASED. Upon the terms and
conditions herein set ort an n consi eratlon of the prompt and
continuous performance by the Lessee of each and everq of its covenants
and promises herein made, the Lessor doe~ let, lease. and demise (but
not exclusively so) unto the Lessee. and the Lessee does hereby lease
(but not exclusively so) of and from the Lessor, the following described
property, lying and being sitvate in St. Lucie County. Florida, to-wit:
See Exhibit "A" attached hereto and
by this reference made a pa~t hereof.
2. TERM. The terms of this lease shall commence on the '
date first above mentioned and shall end on the second day of Au ust,
2022. ~
3. OTHER LEASES.
3.1 Lessor's Ri ht to make Additional Leases. The -
Lessor shall have the r g t to ma e a it ona eases o t e Recrea-
tional Center to "other lessees" without the consent of the Lessee,
and all such other leases to "other lessees" s~all be valid for all
intents and purposes therein expressed and neither the grantfng of
such leases nor the creation of the leasehold estate~therein shall
invalidate this lease or reduce or abate the rental due under the
terms of this lease from the Lessee to the Lessor, nor give the
Lessee the right to avoid any of its covenants, agreements or obliga-
tions to be performed hereunder.
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k Leases of the Recreation Center made with "other lessees"
' • shall be substantially the same as this lease e~cce~t-as to the amount
of rent to be paid to the Lessor by "other lessees', and except as
to the persons who may use the Recreation Center under other leases.
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The use, occupancy and possession-of the Recreation
Center by any and all of such other lessees shall be in recognition
and co-extensive with the rights of this Lessee under ttiis lease and
, f~ other lessees under other leases so that the burden of this Lessee in
~ keeping and pErforming its agreements herein made shall:not be increased .
except as a greater use of the Recreation Cente; by reason of a greater
~ number of lessees in possession may inevitably and unavoidably require.
~ 3.2 Acts of Other Lessees. No default by any other
~ Lessee in the performance o any o t e a~reements contained [h2rein
nor any other act of omission or co~nission by the Lessor of any of its
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, 6Q~K FAGE
~ ° R 283 393
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