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of constructing the restaurant on the subject premises. The Lessee
shall be responsible for the repayment of the mortgage loan in a
timely fashion. In the event-that during the term of this Lease the
Lessee defaults in the rent payments, is evicted, goes bankrupt, .or
in any other way the contemplated restaurant business fails, then in
that event, the Lessor agrees to be solely responsible fdr the payment
of the mortgage loan on the demised premises and will hold the
Lessee harmless from the claims and demands of the mortgage lender.
The Lessor will not be responsible for any other debts or obligations
of the Lessee other than the mortgage referenced herein, The Lessor
agrees to execute any mortgage agreements or guarantee agreements
required by the commercial lending institution. All parties to this
agreement agree that they will use their best efforts and due dili-
gence to obtain the construction mortgage loan and this agreement is
contingent upon the Lessee obtaining such a construction loan in an
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amount not less than Eighty-five Thousand Dollars ($85,000.-00) from
a commercial lending institution. Additionally, the Lessor covenants
that the subject property is properly zoned so as to permit the
Lessee's intended use, that is, a restaurant facility.
2. RENT. Lessee agrees for themselves, their successors
and assigns to pay to Lessor, their beneficiaries, successors or
assigns without demand, rent for the demised premises for the first
year of the term hereof, in the amount of Seven Thousand Dollars
($7,000.00) payable i.n advance on the date the certificate of occupancy
is issued by the County of St. Lucie, or Port St. Lucie, and $1,000.00
per month payable monthly in advance for the remaining nine years of
the term hereof.
3. DEPOSIT. Upon the execution of this Lease, the Lessee
shall pay to the Lessor as a security deposit the sum of Five Thousand
Dollars ($5,000.00). All sums paid as a security deposit shall be
credited toward the balance of the purchase price for the subject
premises in the event that the tenant exercises the option to purchase
set forth in Paragraph 21 below.
Initialed b Lessors Initialed by Lessees
on 1979. on 1979.
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