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,t Ptt~hit~e+d by : 9en L. Brya, J r I; s l . I
' ~ M' r' • L ~ Post Cif f ioe i>Ux 3L 10
_•~r Fort Piecae, Florida 33450
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LEASE
THIS .AGREEMENT entered into by and between JAMES P. GRIMES
- and KAY G. GRIMES, hereinafter referred to as Lessors, and PIZZA
= HUT OF FT. PIERCE, INC., hereinafter referred to as Lessee, as of
July 29, 1975.
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o° ~ 1. I.rase: Lessor hereby leases to Lessee, and Lessee ~
~ ~ Z leases from Lessor, the. premises described as: ~ '
3U From the NE corner of the Nw?~ of the SW~ of the NE?~,
_ - ~ E run South 000 20' 33" East 146.36 feet for-point ctf
W beginning; thence southerly 89° 54' West 269.87 feet
N
_ ~ M to a point on the easterly right of way fOr U.S. ~1;
thence southerly 270 35' 42" East along said right of
a0p ~ way 100 feet, thence North 890 54' East 224.0$ feet
o~A4 to a point on the East line of the NWT of the SW~ of
,.~y_',~ W a tti4 NE;, thence northerly 00° 20' S8" West 88.71 feet
Q to th=~ point ixxyinniny, lying and being in Section
fs'i 22, Township South, Range 40 East, Sr. Lucie County,
Florida. ;
H W 1
~C E th.• .~bov.~ property beir:y situate at 8020 South U.S. tl, Port St.
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f4 - ~ 2. Terms and Conditions: The terms and conditions of the
E~ W L~=~se, tot~cth~~r wr ti: the rent set out in the lease, are contained
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H H i.' a.: a::rc~.-or:!•r~3 '_c.jse agreement between the parties dated July - i
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1 W `2 23, 2975, the terms grid conditions cf which arc incorporated herein j
x ~ .
: p by reference. ~
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3. Liens: Lessee has no ri ht or=
O x g power to encumber (and
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is prohibited from encumberingF the interest of the. Lessor in the
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land and building, whether such encumbrance is by lien for work, or ~
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a materials for improvements,_or otherwise.
H
j 1 ~ 4. Term of _L°ase: The term of the lease commenced on the
OW4 z3 29th day of July, 1975, said ter:r, ending fifteen {15) years after ~ ,
C7 O
H E'' th° date of the first payment of rent, to-wit• Deoaci~er i3, 1975
€ ~ W unless terminated in accordance with the provisions set out in the
H U lease. "
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W S. Extensions: The referenced lease further provides that
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r a the lease shall automatically extend for one additional five-year
W O
~ W ~ period, unless the Lessee gives written notice to the Lessor sixty
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H ,a r~ (60) days prior to the end of the original term that it does not
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desire to extend the tease. The lease-further provides for a second i
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