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be made under the laws and regulations of the applicable govern-
mental authorities, this lease may be terminated at the option of
either party. In the event of any partial destruction that Lessor
is obligated to repair or may elect to repair under the terms of
this paragraph, the provisions of , authorizing Lessee to
make repairs at the expense of Lessor, are hereby waived by Lessee.
Should the building in which the demised premises aYe situated be
destroyed to thb extent of not less than fifty per cent (508) of
the replacement cost thereof, this lease shall be terminated. Any
dispute between Lessor and Lessee relative to the provisions of
this section shall be subject to arbitration. Each party shall
select an arbitrator and the two arbitrators so selected shall
select a third arbitrator between them, the controversy being heard
by the three arbitrators so selected. The decision of the three
arbitrators shall be final and binding on both Lessor and Lessee,
who shall bear the cost of the arbitration equally between them.
16. Subordination - This lease is subject and subordinate
to all mortgages which may now or hereafter affect the real
property of which the premises form a part, and to all renewals,
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E modifications, consolidations, replacements and extensions thereof.
This clause shall be self-operative and n0 further instrument of
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subordination shall be required by any mortgagee. In confirmation
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of such subordination, Lessee shall execute promptly any
certificate that Lessor may request.
17. Assignment, Mortgage or Sublease - Neither Lessee nor
his successors or assigns shall assign, mortgage, pledge, or encum-
ber this lease or sublet the demised premises in whole or in part,
or permit the premises to be used or occupied by others, nor shall
this lease be assigned or transferred by operation of law, without
the prior consent in writing of Lessor in each instance. If this
lease is assigned or transferred, or if all or any part of the
demised premises is sublet or occupied by anybody other than
~ Lessee, Lessor may, after default by Lessee, collect rent from the i
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assignee, transferee, subtenant, or occupant, and apply the net
- 5 - BOGKJIl~7 ~AGE~~
McROBERT9 6 WARNER. CHARTERED, ATTORNEY'f AT LAW, STUART. FLORIDA
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