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15. REAL ESTATE COMMISSION: The Lessor agrees to pay
a real estate commission to Land & Rivers, Inc. Realtors of 1850
South U.S. 1, Stuart, Florida 33494. The total commission payable
to said realtors will be ten percent (10$) of the purchase price
or Twenty Eight Thousand Dollars ($28,000.00) or a lesser sum
as hereinafter set out. Upon the signing of the lease and the
payment by the tenant to the owner of the April 1981 rent payment
and the two month's security payment, the Realtor shall receive
from the Lessor the sum of Seven Hundred Twenty Dollars ($720.00).
On April 10, 1982, the Realtor will receive another Seven Hundred
Twenty Dollars ($720.00). On April 10, 1983, the Realtor will
receive Three Thousand Eight Hundred Three &~ 52/100ths Dollars
($3,803.52) and on the lOth day of April in each succeeding
year the Realtor will receive the sum of Three Thousand Eight _
Hundred Three & 52/100ths Dollars $3,803.52) until the entire
maximum commission of Twenty Eight Thousand Dollars ($28,000.00)
has been paid. In the event that the Lessee exercises his
option to purchase at any time after April 1, 1988, the Realtor
will be entitled to receive the balance of the commission still
unpaid at the time of closing.
In the event that a default occurs and the lease is
terminated, the Realtor will only receive those payments which
have already been made and be entitled to no further or additional
commission. In the event that the Realtor has been paid more
than ten percent (10$) of the monies received by the Lessor in
rent payments after the second year of this lease, any overpayment
will be returned to the Lessor by the Realtor.
16. ASSIGNMENT: Lessee shall have the right to assign
or sublet this lease in whole or in part. In either event,
Lessee shall remain primarily liable under the lease for
the rental payments. In the event a subtenant causes a default,
Lessor shall give Lessee thirty (30) days' notice within which
~o'~ 348 Pa~E 2(1.38
~ Page Six.
~ BRENNAN~ McALILEY~ MAYSKAR b McALILEY, ATTOiiNEYS AT LAW~ 519 SOUTH INDIAN RIVER DR., FORT PIERCE, FIA. 33450
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