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14.0 LANDLORD'S LIEN. As an additional security to
Landlord for t e per ormance by Tenant of the terms, covenants
and conditions of this lease, Tenant hereby qives and grants to
Landlord a first lien and charge upon the leasehold or estate
~ hereby granted to Tenant and upon all improvements, furniture,
equipment, fixtures and appurtenances placed upon the premises; `
and upon all goods, wares, merchandfse, trade fixtures and
equipment placed upon or within the premises for use in
Tenant's operations thereon set, but this lien is not intended
to, nor shall it impair or affect Tenant's right to dispose of
such stock and trade as it may carry for sale in the ordinary
course of business or invalidate or subordinate any vendor's
lien retained upon the sale to Tenant of personal property by
such vendor, if such lien is properly perfected by filing a
financial statement pursuant to Florida Statutes, Chapter 679.
15.0 OPTION TO PURCHASE. Provided that Tenant is no~
then in defau t under t e terms and conditions of this lease, ~
at any time before February 29, 1988 . Tenant shall have the '
option to purchase the Premises for ~350,000.00 in accordance ~
with the terms and conditions of the Contract for Sale and `
Purchase of Land attached hereto. Tenant shall exercise this
option to purchase by signing and delivering to Landlord the
attached Contcact for Sale and Purchase of Land, together with
the initial deposit therein specified. If the Tenant fails to i
exercise the option to purchase in the foregoing manner, the '
option shall lapse at 5:00 p.m., on February 29, 1988.
16.0 WAIVER. No covenant, term or condition or the
breach thereo s all be deemed waived, except by written
consent of Landlord, and any waiver of the breach of any ~
covenant, term or condition shall not be deemed to be a waiver f
of any preceding or succeeding breach of the same or any other ~
covenant, term or condition. Acceptance of all or any portion ;
of rent at any time shall not be deemed to be a waiver of any
covenant, term or condition except as to the rent payment
accepted.
17,0 NOTICE. All notices or demands of any kind
requiced or de~ ed to be given by Landlord or Tenant shall be
in writing, and such written notice addressed to Tenant and
I mailed to Tenant at the address of the premises shall
; constitute sufficient notice to the Tenant, and written notice
' addressed to Landlord and mailed to Landlord, at the address ~
; set out after his name or such other address as shall be ~
' designated from time to time by Landlord, shall constitute i
~ sufficient notice to the Landlord. All notices shall be ;
~ certified, return receipt requested, and shall be deemed
~ effective three (3) days after mailing in the foregoing manner. ~
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~ 18.0 MISCELLANEOUS. '
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~ 18.1 CAPTIONS. The captions of the paragraphs of this '
~ lease are for convenience only and shall not be deemed to be
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~ relevant in resolving any questions of interpretation or
~ construction of any paragraph of this lease. ,
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~ 18.2 BINDING ON SUCCESSORS. All of the terms, covenants j
~ and conditions o t is ease s a 1 be binding upon and inure to ~
the benefit of the parties hereto and their heirs, executors ~
and administrators, successors anci assigns, except that nothing
in this provision shall be deemed to permit any assignment,
subletting or use of the premises other than as provided for
herein. The individual Tenants may, in their discretion, upon
notification to Landlord of the intention to extend this lease
; under the provisions of paragraph 2.0, request they be released
~ as individual Tenants and that the corporate Tenant
~ (Port-l~-Putt, Inc.) be permitted to be the sole party Tenant
~ for the renewal term. Such request shall be subject to
~ Landlord's approval, which approval will not be unreasonably
withheld. •
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