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1985-01 ~ . ~- -. . 85' - OJ , LEASE 1. PARTIES This Lease is made between the CITY OF CLERMONT, Lake County, Florida, a Florida municipal corporation, herein called LESSOR, and INDEPENDENT MORTGAGE CORPORATION, of State of Florida , herein called LESSEE. 2. DESCRIPTION Approximately 536 square feet of the lower floor level of a two-story concrete block building located on the northeast corner of Blocks 99 and 100 in the City of Clermont, Florida, together with a joint easement with LESSOR during the term of this Lease to all adjacent driveways and parking areas located on the above described Blocks 99 and 100, City of Clermont, Florida. The LESSEE shall also be guaranteed two (2) reserved parking spaces and shall jointly share restroom and kitchen facilities in the leased area, more particularly described in Exhibit "A" attached hereto and made a part of the agreement. 3. TFRM The space is leased for a term to commence on January 1', 1985, and to tenninate on December 31, 1988. Both the LESSEE or LESSOR shall have the right to cancel the Lease by giving three hundred sixty-five (365) day's written notice in advance. 4 . RENT The rent for the leased period is TWO THOUSAND ONE HUNDRED TWELVE AND NO/lOa DOLLARS ($2,112.00) per year, payable in twelve (12) monthly installments of ONE HUNDRED SEVENTY-SIX AND NO/lOa DOLLARS ($176.00) each in advance on the first (1st) day of each and every month during said period. The first (1st) payment is due on the first (1st) day of January, 1985, and subsequent payments will be due on the first (1st) day of each succeeding month during the term of the Lease, all of which sums the LESSEE expressly covenants and agrees to pay. All payments shall be made payable to the CITY OF CLERMONT, #1 Westgate Plaza, P. O. Box 219, Clermont, Florida 32711, or at such other place and to such other person as the LESSOR may from time to time designate in writing. 5. USE AND OCCUPANCY LESSEE shall use and occupy the premises as a mortgage corporation office and for no other purpose. LESSOR represents that the premises may lawfully be used for such purpose. LESSOR shall not post political advertisements on the premises where they may be viewed from the public right-of-way. 6. PERSONAL PROPERTY All personal property placed or moved in the premises above described, shall LEONARD H. BAIRD. JR.. ATTORNEY AT LAW. P.O. DRAWER 1066. CLERMONT, FLORIDA 32711 . . be at the risk of the LESSEE or owners thereof, and LESSOR shall not be liable for any damage to said personal property, including damage arising from the bursting or leaking of water pipes. 7. CARE AND REPAIR OF PREMISES A. LESSEE shall commit no act of waste and shall take good care of the premises and the fixtures and appurtenance9 therein, and shall, in the use and occupancy of the premises conform to all laws, orders, and regulations of the federal, state, and municipal governments or any of their departments. B. LESSOR shall make all necessary repairs to the air conditioning system, plumbing system, electrical system, including ceiling fixtures but not including bulbs and ballasts, exterior building including front doors, landscapine, and termite and other foundation protection, except where the repair has been made necessary by misuse or neglect by LESSEE or LESSEE'S agents, employees, visitors, or licenses. C. The LESSEE shall be responsible for the interior walls, carpeting, drapes, lighting, including light bulbs and ballasts, and infonnational and location signs. The LESSEE shall also be responsible for constructing a dividing wall and any other equipment necessary to separate and divide the two (2) downstairs offices in a manner approved by the LESSOR. D. The LESSEE shall make no improvements to the premises without the express written permission of the LESSOR. All improvements made by LESSEE to the premises which are so attached to the premises that they cannot be removed without material injury to the premises shall become the property of the LESSOR upon installation. Not later than the last day of the term, LESSEE shall, at LESSEE'S expense, remove all of LESSEE'S personal property and those improvements made by LESSEE which have not become the property of LESSOR, repair all injury done by or in connection with the installation or removal of such property and improvements; and surrender the premises in as good condition as they were at the beginning of the term, reasonable wear, and damage by fire, the elements, casualty, or other cause not due to the misuse or neglect by LESSEE or LESSEE'S agents, employees, visitors, or licenses, excepted. All property of LESSEE remaining on the premises after the last day of the term of this Lease shall be conclusively deemed abandoned and may be removed by LESSOR, and LESSEE shall reimburse LESSOR for the cost of such removal. 8. ALTERATIONS, ADDITIONS, OR IMPROVEMENTS LESSEE shall not, without first obtaining the written consent of LESSOR, make any alterations, additions, or improvements in, to, or on and about the premises. 9. INSURANCE A. LESSEE shall maintain public liability and casualty insurance in the LEONARD H. BAIRD, JR.. ATTORNEY AT LAW. P.O. DRAWER 1066, CLERMONT. FLORIDA 32711 -2- . . minimum amount of $100,000.00/$300,000.00. LESSEE shall also be responsible for obtaining adequate insurance to cover loss of LESSEE'S property due to fire or other casualty. B. LESSEE shall not do or suffer anything to be done on the premises that will increase the rate of fire insurance on the building. 10. RIGHT TO INSPECT AND REPAIR LESSOR may enter the premises at any reasonable times, on reasonable notice to LESSEE (except that no notice need be given in case of emergency) for the purpose of inspection or the making of such repairs, replacements, or additions in, to, on and about the premises or the building, as LESSOR deems necessary or desirable. LESSEE shall have no claim or cause of action against LESSOR by reason thereof. II. ASSIGNMENT OR SUBLEASE LESSEE shall not, without first obtaining the written consent of LESSOR, assign, mortgage, pledge, or encumber this Lease, in whole or in part, or sublet the premises or any part thereof. 12. UTILITIES As the building which the leased premises is a part of has only one (I) electrical meter, LESSEE shall pay for its portion of the electricity used by promptly paying for thirteen percent (13%) of the electricity. LESSEE shall be responsible for payment for its water, sewer, sanitation and telephone service, and all other costs and expenses of every kind whatsoever or in connection with the use, operation, and main- tenance of the premises and all activities conducted thereon. 13. DAMAGES TO BUILDING Partial destruction of the leased premises shall not render this Lease void or voidable, or terminate it except as herein provided. If the premises are partially destroyed during the tenn of this Lease, LESSOR may repair them when such repairs can be made in confonnity with governmental laws and regulations, within ninety (90) days of the partial destruction. Written notice of the intention of LESSOR to repair shall be given to LESSEE within fifteen (15) days after any partial destruction. Rent will be reduced proportionately to the extent to which the repair operations interfere with the business conducted on the premises by LESSEE. If the repairs cannot be made within the time specified above, LESSOR shall have the option to make them within a reasonable time and continue this Lease in effect with proportional rent rebate to LESSEE as provided for herein. If the repairs cannot be made in ninety (90) days, and if LESSOR does not elect to make them within a reasonable time, either party shall have the option to terminate this Lease. LEONARD H. BAIRD, JR.. ATTORNEY AT LAW. P.O. DRAWER 1066, CLERMONT, FLORIDA 32711 -3- . . 14. INDEMNITY LESSEE shall indemnify LESSOR against all expenses, liabilities, and claims of every kind, including reasonable counsel fees, by or on behalf of any person or entity arising out of either (1) a failure by LESSEE to perform any of the tenns or conditions of this Lease, (2) any injury or damage happening on or about the demised premises, (3) failure to comply with any law of any governmental authority, or (4) any mechanics lien or security interest filed against the demised premises or equipment, materials, or alterations of buildings or improvements thereon. 15. LESSOR'S REMEDIES ON DEFAULT If LESSEE defaults in the payment of rent, or any additional rent, or defaults in the performance of any of the other covenants or conditions hereof, LESSOR may give LESSEE notice of such default and if LESSEE does not cure any rent, or additional rent, default within fifteen (IS) days, or other default within fifteen (IS) days, after the giving of such notice (or if such other default is of such nature that it cannot be completely cured within such period, if LESSEE does not commence such curing. within such fifteen (IS) days and thereafter proceed with reasonable diligence and in good faith to cure such default), then lessor may tenninate this Lease on not less than seven (7) day's notice to LESSEE. On the date specified in such notice the term of this Lease shall terminate, and LESSEE shall then quit and surrender the premises to LESSOR, but LESSEE shall remain liable as hereinafter provided. If this Lease shall have been so terminated by LESSOR, LESSOR may at any time thereafter resume possession of the premises by any lawful means and remove LESSEE or other occupants and their effects. 16. DEFICIENCY In any case where LESSOR has recovered possession of the premises by.reason of LESSEE'S default or abandonment, LESSOR may, at LESSOR'S option, occupy the premises or cause the premises to be redecorated, altered, divided, consolidated with other adjoining premises, or otherwise changed or prepared for reletting, and may relet the premises or any part thereof as agent of LESSEE or otherwise, for a term or tenns to expire prior to, at the same time as, or subsequent to, the original expiration date of this Lease, at LESSOR'S option, and receive the rent therefor. Rent so received shall be applied first to the payment of such expenses as LESSOR may have incurred in connection with the recovery of possession, redecorating, altering, dividing, con- solidating with other adjoining premises, or otherwise changing or preparing for reletting, and the reletting, including brokerage and reasonable attorney's fees. Thereafter it shall be applied to the payment of damages in amounts equal to the rent hereunder and to the cost and expenses of performance of the other covenants of LESSEE LEONARD H. BAIRD. JR.. ATTORNEY AT LAW. P.O. DRAWER 1066. CLERMONT, FLORIDA 32711 -4- ..' ..'" as herein provided. LESSEE agrees, in any such case, whether or not LESSOR has relet, to pay to LESSOR damages equal to the rent and other sums herein agreed to be paid by LESSEE, less the net proceeds of the reletting, if any, as ascertained from time to time, and the same shall be payable by LESSEE on the several rent days above specified. In reletting the premises as aforesaid, LESSOR may grant rent concessions, and LESSEE shall . not be credited therewith. No such reletting shall constitute a surrender and acceptance or be deemed evidence thereof. If LESSOR elects, pursuant hereto, actually to occupy and use the premises or any part thereof during any part of the balance of the term as originally fixed or since extended, there shall be allowed against LESSEE'S obligation for rent or damages as herein defined, during the period of LESSOR'S occupancy, the reasonable value of such occupancy, not to exceed in any event the rent herein reserved and such occupancy shall not be coristrued as a relief of LESSEE'S ability hereunder. LESSEE hereby waives all right of redemption to which LESSEE or any person claiming under LESSEE might be entitled by any law now or hereafter in force. LESSOR'S remedies hereunder are in addition to the other remedies allowed by law. 17. NO WAIVER OF COVENANTS OR CONDITIONS The failure of either party to insist on strict performance of any covenant or condition hereof, or to exercise any option herein contained, shall not be construed as a waiver of such covenant, condition, or option in any other instance. This Lease cannot be changed or terminated orally. 18. ATTORNEY'S FEES If any action at law or in equity shall be brought to recover any rent under this Lease, or for or on account of any breach of, or to enforce or interpret any of the covenants, terms, or conditions of this Lease, or for the recovery of a possession of the demised premises, the prevailing party shall be entitled to recover from the other party as part of the prevailing party's costs reasonable attorney's fees, the amount . of which shall be fixed by the court and shall be made a part of any judgment or decree rendered. 19. COLLECTION OF RENT FROM ANY OCCUPANT If the premises are sublet or occupied by anyone other than LESSEE and LESSEE is in default hereunder, or if this Lease is assigned by LESSEE, LESSOR may collect rent from the assignee, subtenant, or occupant, and apply the net amount collected to the rent herein reserved. No such collection shall be deemed a waiver of the covenant herein against assignment and subletting, or the acceptance of such assignee, subtenant, or occupant as LESSEE, or a release of LESSEE from further performance of the covenants herein contained. LEONARD H. BAIRD, JR.. ATTORNEY AT LAW, P.O. DRAWER 1066, CLERMONT. FLORIDA 32711 -5- . . . t ". 20. RIGHT TO CURE LESSEE'S BREACH If LESSEE breaches any covenant or condition of this Lease, LESSOR may, on reasonable notice to LESSEE (except that no notice need be given in case of emergency), cure such breach at the expense of LESSEE. The reasonable amount of all expenses, including attorney's fees, incurred by LESSOR in so doing (whether paid by LESSOR or not) shall be deemed additional rent payable on demand. 21. NOTICES Any notice by either party to the other shall be in writing and shall be deemed to have been given only if delivered personally or sent by registered or certified mail in a postpaid envelope addressed, if to LESSEE, at the above described building; if to LESSOR, at LESSOR'S address as set forth above; or, to either, at such other address as LESSEE or LESSOR, respectively, may designate in writing. Notice shall be deemed to have been duly given, if delivered personally, on delivery thereof, and if mailed, on the third (3rd) day after the mailing thereof. 22. CONDITIONS OF LESSOR'S LIABILITY LESSEE shall not be entitled to claim a constructive eviction from the premises unless LESSEE shall have first notified LESSOR in writing of the condition or conditions giving rise thereof and, if the complaints be justified, unless LESSOR shall have failed within a reasonable time after receipt of such notice to remedy such conditions; 23. RIGHT TO SHOW PREMISES LESSOR may show the premises during the two (2) months prior to termination of this Lease, to prospective tenants, during business hours on reasonable notice to LESSEE. 24. ENTIRE AGREEMENT This Lease contains the entire agreement of the parties hereto with respect to the matters covered hereby, and no other agreement, statement, or promise made by any party hereto, or any employee, officer or agent of any party hereto, which is not contained herein shall be binding or valid. No modification of this Lease shall be binding on the parties unless it is in writing and executed by both LESSEE and LESSOR. 25. REPRESENTATIONS BY LESSOR At the commencement of the term LESSEE shall accept the buildings and improvements and any equipment in their existing conditions and state of repair, and LESSEE agrees that no representations, statements, or warranties, express or implied, have been made by or on behalf of LESSOR in respect thereto except as contained in the provisions of this Lease, and LESSOR shall in no event be liable for any latent defects. 26. QUIET ENJOYMENT LESSOR covenants that if, and so long as, LESSEE pays the rent; and any additional LEONARD H. BAIRD, JR., ATTORNEY AT LAW, P.O. DRAWER 1066. CLERMONT, FLORIDA 32711 -6- .. . . . .' rent as herein provided, and performs the covenants hereof, LESSEE shall peaceably and quietly have, hold, and enjoy the premises for the term herein mentioned, subject to the provisions of this Lease. 27. APPLICABILITY TO HEIRS AND ASSIGNS The provisions of this Lease shall apply to, bind, and inure to the benefit of LESSOR and LESSEE, and their respective heirs, successors, legal representatives, and assigns. . i/-A n_ Executed at Clermont, Florida, on the ~day of ~./Y) J <i..h...l r' 198m. Signed in the presence of: CITY OF CLERMONT ?I~~~ ~o -/Z-re BY: LESSOR /} . INDEPEN ~NT MORTGAGE CORPORATIO _q(Jkj~ rh ~ , BY: LEONARD H. BAIRD, JR.. ATTORNEY AT LAW, P.O. DRAWER 1066, CLERMONT. FLORIDA 32711 -7- .. . EXHIBIT "A" S-lN E . J ~ R Jointly Shared Kitchen & Restroom Facilities "\,':-- " ." . ~~ ",', "''-, ~~~' . "'..' ~"t<~ '" ""." "," .\,',~>.'KitQ;'.h'eti~ "\".,....' '~. "",,, . "\,"',"\, "" "\,'-. "">'>~"', '., '" ",","", ',', ". '.....,,', " ",',', ",," .... ". "",.', ", " '" '\ ", "'-. . ...... " " //~/ // .- .' " ..- / / / / / ' /,/ /, / //' ',/ ,. , . ~'/;/ %/ '///:. /j~<;/// ~--,--_ 1 / ///~//' ,,// , ----- , /./ / / ' '//. /',/ / 2 ,/ / / ,/ ,"./ "'.. "',/. "" / / / ,/ "----- ' './ /,~'/ 3 " //,,/', " /~//'/ ---- ~/ .;.:.~~~~': ----4 ./// /: /' , , . / / / /' ..' " _____ 5 6 7 @"'/ . " ,'/ ./, // / Office Space Leased by Independent Mortgage Corp. Parking Spaces 1 & 2 will be reserved for Independent Mortgage Corporation f,k r ~ I IV :I . 1;'