Common use of Condominium Clause in Contracts

Condominium. To the extent that a Public Garage is located on the same Project Parcel as one or more of the Buildings comprising the Private Improvements, and either such Project Parcel is not capable of being subdivided to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcel, the Redeveloper shall create a Condominium on such Project Parcel in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft of the Condominium Documents for any such Project Parcel for submission to and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording of the Condominium Declaration (and finalization of the remaining Condominium Documents) shall be a condition precedent to the Redeveloper’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community).

Condominium. To the extent that a Public Garage is located on the same Project Parcel as one or more of the Buildings comprising the Private Improvements, and either such Project Parcel is not capable of being subdivided to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcel, the Redeveloper shall create a Condominium on such Project Parcel in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft of the Condominium Documents for any such Project Parcel for submission to and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Public Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording of the Condominium Declaration (and finalization of the remaining Condominium Documents) shall be a condition precedent to the Redeveloper’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-sub- common interest communities with respect to one or more units located in any underlying master common interest community).

Condominium. To 43.01 The Building in which the extent Demised Premises are located is subject to that a Public Garage is located on the same Project Parcel as one or more certain (i) Declaration (“Declaration”) establishing condominium ownership of the Buildings Land and the Building erected thereon, comprising the Private ImprovementsMaison Pierre Condominium, made pursuant to Article 9B of the Real Property Law of the State of New York, and either (ii) the By-Laws (“By-Laws”) of such Project Parcel is not capable of being subdivided Condominium appended to locate such Project Garage on said Declaration. The Demised Premises constitute a separate legal lot or the Redeveloper determines not to pursue subdivision portion of the Project Parcel, Commercial Unit which is part of the Redeveloper Condominium. All terms and provisions of this lease shall create a Condominium on such Project Parcel be subject and subordinate to the Declaration and By-Laws and all amendments thereto made in accordance with CIOAthe Declaration and By-Laws. The Declaration and By-Laws and all amendments thereto, pursuant are hereafter collectively called the “Condominium Documents.” Notwithstanding anything to the contrary, Tenant agrees to faithfully observe and comply with the Condominium Documents, other than those provisions pertaining to the payment of Common Charges and special assessments or other sums provided such sums are not payable as the result of an act or omission by Tenant. Tenant shall not perform or suffer any action or other matter which the Public Garage shall if performed or suffered by Landlord would constitute a separate condominium unitviolation, breach or default under the Condominium Documents; provided, however, it is understood and agreed that Tenant may use the Demised Premises for the express uses set forth in this Lease. Redeveloper shall prepare Landlord represents and warrants to Tenant that (i) Landlord has full authority to enter into and consummate this Lease, and has obtained all consents, if any, required by the Condominium Documents; and (ii) Landlord has not received any written notice of a draft of default by Landlord under the Condominium Documents for which has not been cured. Landlord will neither make nor agree to any such Project Parcel for submission termination of, modifications of or amendments to and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for which materially adversely affect Tenant’s rights under this Lease or Tenant’s use or occupancy of the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as Demised Premises. [Signatures are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording of the Condominium Declaration (and finalization of the remaining Condominium Documents) shall be a condition precedent to the Redeveloper’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community)following page.]

Condominium. To (a) Landlord represents and warrants to Tenant that (i) the extent Condominium Documents are in full force and effect and have not been amended and no rules or regulations that a Public Garage is located on may be created pursuant to the same Project Parcel as one or more Condominium Documents currently exist, (ii) Landlord holds all of the Buildings comprising the Private Improvements, and either such Project Parcel is not capable of being subdivided to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision rights of the Project ParcelGrantor under the Condominium Documents and has not assigned any of them, in whole or in part, (iii) while Xxxxxx Xxxxx Village Association, Inc., the Redeveloper shall create a New Jersey nonprofit corporation formed to administer the Condominium on such Project Parcel (the “Association”), has been formed, the Association has been inoperative to date. Tenant has reviewed and approved the Condominium Documents and Tenant acknowledges and agrees that this Lease is subject and subordinate to the Condominium Documents in accordance all respects. Tenant shall, at no cost to Landlord, execute an agreement in recordable form confirming that this Lease is subject and subordinate to the Condominium Documents within ten (10) days following Landlord’s request therefor. Tenant shall, at Tenant’s sole cost and expense, comply with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft provisions of the Condominium Documents for and all Rules and Regulations regarding the use of the Premises and the Common Areas, and the operation of Tenant’s business therein as may be established from time to time pursuant to the Condominium Documents. Landlord shall have the right at any such Project Parcel for submission time after the Effective Date to and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with modify the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by of the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on Grantor and/or the final design and construction Owner of all of the Improvements Units located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including Project, or as Grantor consent to or approve an amendment to, or vote as an Owner to amend, the Condominium Documents, without the consent of Tenant. Landlord shall notify Tenant of any secondary mortgage market requirements)amendments made by Landlord to the Condominium Documents. Finalization Notwithstanding anything to the contrary contained herein, if Landlord wants to amend the Condominium Documents and recording such modifications would materially and adversely interfere with Tenant’s use of the Condominium Declaration (Premises for the Permitted Use, or materially and finalization adversely affect the rights of Tenant under this Lease, then Landlord shall request Tenant’s consent to such modifications to the remaining Condominium Documents) shall , which consent may be a condition precedent to the Redeveloperwithheld in Tenant’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community)sole discretion.

Condominium. To Subject to Tenant’s receipt of a commercially reasonable subordination, non-disturbance and attornment agreement from the extent that a Public Garage is located on the same Project Parcel Condo Board (as one or more hereinafter defined), this Lease and all rights of the Buildings comprising the Private Improvements, Tenant hereunder are and either such Project Parcel is not capable of being subdivided shall be subject and subordinate in all respects to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcelany condominium declaration and any other documents (collectively, the Redeveloper “Declaration”) which are or shall create be recorded in order to convert the Land and the improvements erected thereon to a Condominium on such Project Parcel condominium form of ownership in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft provisions of Article 9-B of the Condominium Documents for Real Property Law, or any successor thereto, provided the Declaration does not include other terms which increase Tenant’s obligations (except to a de minimis extent), decrease Tenant’s rights (except to a de minimis extent) or increase Landlord’s rights under this Lease or decrease Landlord’s obligations to Tenant under this Lease. If any such Project Parcel for submission Declaration is to be recorded, Tenant, upon the request of Landlord, shall enter into an amendment of this Lease confirming such subordination and approval by modifying the CityLease in such respects as shall be necessary to conform to such condominiumization, including, without limitation, appropriate adjustments to Tenant’s Finance Director (after consultation with Proportionate Share and appropriate reductions in the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit Operating Expenses for the Parking Garage to be constructed on such Project ParcelBase Operating Period and the Base Tax; provided, that, such amendment shall not reduce Tenant’s rights or increase Tenant’s obligations under this Lease (in either case except to a de minimis extent), increase Tenant’s monetary obligations under the Lease or increase Landlord’s rights under this Lease or decrease Landlord’s obligations to Tenant under this Lease. Landlord shall reimburse Tenant for Tenant’s actual reasonable out-of-pocket costs incurred in connection with such amendment. Notwithstanding the foregoing, in the event of any conversion of the Land and improvements erected thereon to a condominium form of ownership, wherever in this Lease Tenant is required to obtain Landlord’s consent or approval, Tenant acknowledges that Landlord may be required to first obtain the consent or approval of the board of managers of the condominium association or similar body (the “Condo Board”) established in connection with such conversion, and if Landlord and/or any affiliates of Landlord shall not have the unanimous authority to be unreasonably withheldcause the Condo Board to approve or disapprove of the matter for which Tenant seeks approval, conditioned and the Condo Board shall refuse such consent or delayed. The Condominium Documents for the applicable Condominium approval, then Landlord shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to released of any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording of the Condominium Declaration (and finalization of the remaining Condominium Documents) shall be a condition precedent to the Redeveloper’s obligation to complete grant its consent or approval of such matter, Tenant’s obligations under this Lease shall not be impaired and convey Landlord shall have no liability to Tenant in connection therewith; provided, Landlord shall use reasonable efforts in Landlord’s prudent business judgment to cause the applicable Public Garage Condo Board to the City and the City’s obligation give or refuse its consent or approval (which shall in no event be construed to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability require Landlord to create more than one common interest community (as defined in CIOA) on initiate any Project Parcel (including the use of one action or more sub-common interest communities with respect to one lawsuit or more units located in any underlying master common interest communityexpend funds).

Condominium. To The guard post will keep a record of visitor access in the extent that a Public Garage is located on corresponding book, where the same Project Parcel as one or more following data will be noted: name of the Buildings comprising visitor, Identification Card or passport number, automobile license plate, company to be visited, hour of entry and of egress. f) On salesperson access: Except by express authorization from Management, all types of sales within the Private Improvements, and either such Project Parcel is not capable of being subdivided to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcel, the Redeveloper shall create a Condominium on such Project Parcel in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper shall prepare a draft premises of the Condominium Documents for any such Project Parcel for submission or its access ways is prohibited, including traveling salespeople. SEVENTH CHAPTER: MISCELLANEOUS: TWENTY-NINTH ARTICLE: General regulation which the joint owners shall abide: In view that the Condominium is an Industrial Park subject in its majority to the Free Zone System, and approval by the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following that on the date on which when it was subjected to the Redeveloper is issued a building permit Condominium Property System it obtained the respective approvals from the regulatory public agencies, such as, without limitation, the Ministry of Foreign Trade, Promotora de Comercio Exterior PROCOMER, the National Environmental Technical Secretariat SETENA, the General Customs Service, the Ministry of Health, “INVU”, “IMAS” and the institutions that provide approval for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are agreed to by the Redeveloper and the City’s Finance Director, after consultation with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design and construction of the Improvements located or to be located on such Project ParcelProperty System, the reasonable requirements of lenders making loans on individual units within joint owners who acquire a subsidiary property in the Condominium (including any secondary mortgage market requirements). Finalization also acquire a property subject to the general inalienable regulations regarding the nature, use, structural and recording organizational make-up of the Condominium Declaration (which they must abide by at all times. Consequently, the joint owners are obligated to abide by the stipulations contained in the Law and finalization Bylaw, those of the remaining internal Rules of Operation of Parque Global S.A., approved by PROCOMER on Two December, Nineteen Ninety-Nine, the Global Free Zone Master Plan dated Thirty October, Nineteen Ninety-Eight, a copy of which has been attached to the Notarial Book of References of Notary Xxxxxxx-Xxxxx as a reference document, the environmental commitments that govern the Condominium Documents) and which are set forth in the Environmental Impact Study of the Barreal Free Zone Project, which was submitted to the approval of the National Environment Technical Secretariat by means of its Resolution Number one hundred forty-one B ninety-nine, by the original owner of the rural property that was subjected to the Condominium Property System in this deed for the creation of the Condominium, PARQUE GLOBAL SOCIEDAD ANONIMA, Corporate Identification number three B one hundred one B two hundred thirty thousand five hundred seventy-eight, the General Health Law, its reforms and Bylaw, and when the companies that are installed in the subsidiary properties are also subject to the Free Zone System, they must also abide by all of the stipulations established in Free Zone Law Number seven thousand two hundred ten, its reforms and bylaws, as well as by General Customs Law Number seven thousand five hundred fifty-seven, its reforms and bylaws, and all of those laws and regulations that apply to the subject and activity. The Administrator will provide the joint owners with an information pamphlet that will contain this Bylaw, the Internal Rules of Operation of Parque Global S.A., the Global Free Zone Master Plan, and the environmental commitments acquired by the Condominium before SETENA. Nevertheless, no joint owner may allege ignorance of the stipulations and regulations to which he/she/it is subject because of the fact that the Administrator does no provide such information, since the joint owner, upon acquiring the property and consequently all of the obligations specified in this Bylaw, will be subject to strict compliance and it shall be a condition precedent his/her/its individual obligation to be duly informed and gather the regulations that have been mentioned. Breach by the joint owner of any of the stipulations that govern the Condominium will be put before the Condominium Owners’ General Meeting, which will determine the measures and sanctions that will be imposed on the respective joint owner. THIRTIETH ARTICLE: On the affectation of the subsidiary properties to the Redeveloper’s obligation to complete Condominium Property System: In view of the legal nature of this Condominium, i.e., that each subsidiary property represents a stage of construction and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community).each

Condominium. To the extent Purchaser acknowledges and agrees that a Public Garage is located on the same Project Parcel as one or more of the Buildings comprising date hereof, the Private Improvements, Land and either such Project Parcel the Building and the land underlying the Option Property constitute a single property that is not capable of being subdivided yet subject to locate such Project Garage on a separate legal lot or the Redeveloper determines not to pursue subdivision of the Project Parcelcondominium declaration. During Purchaser’s Review Period, the Redeveloper shall create a Condominium on such Project Parcel in accordance with CIOA, pursuant to which the Public Garage shall constitute a separate condominium unit. Redeveloper Seller shall prepare a draft condominium declaration and other necessary condominium documents (collectively, the “Condominium Documents”), and shall provide the Condominium Documents to Purchaser for its review and approval. The Condominium Documents shall, among other things, provide: (i) the descriptions of the Property and the Option Property, (ii) certain exclusive parking in front of the Building and the building to be erected on the Option Property and shared parking on other areas of the Condominium; provided, however, that following the construction of a building on the Option Property, neither the owner of the Property or the Option Property shall be permitted to use more than 4.65 parking spaces per thousand square feet of space in the buildings located on each such parcel (and any excess parking shall be split between the owners), (iii) any and all cross-easements between the Property and the Option Property, (iv) the rights and obligations of the condominium unit owners in any and all common areas, and (v) that the owner of the Option Property shall be solely responsible for any real estate taxes assessed or imposed against the Option Property, for grass cutting and general maintenance and for the cost of making any improvements to the unimproved portions at the Option Property, including without limitation, any common areas of the Condominium in connection with the construction of any buildings or improvements on the Option Property and (vi) and for the owner of the Property to maintain the common driveways and entrances, including snow removal and landscaping during the period that the Option Agreement is in effect. Purchaser agrees to promptly review and all of the Condominium Documents for any upon receipt. Purchaser and Seller shall in good faith negotiate such Project Parcel for submission to and approval by documents. If the City’s Finance Director (after consultation with the City’s Corporation Counsel or outside counsel) within six (6) months following the date on which the Redeveloper is issued a building permit for the Parking Garage to be constructed on such Project Parcel, such approval not to be unreasonably withheld, conditioned or delayed. The Condominium Documents for the applicable Condominium shall be consistent with the terms set forth on Exhibit EE with respect thereto or such other terms as are have not been agreed to by the Redeveloper expiration of the Purchaser’s Review Period, or the Condominium is being challenged by a governmental authority, or the Title Company is unwilling to insure that the Property and the City’s Finance DirectorOption Property are validly existing condominium units established pursuant to the Condominium Documents, after consultation then either party may terminate this Contract by written notice to the other, in which event, the Deposit (and all interest thereon) shall be paid to the Purchaser and neither party shall have any further obligation hereunder except for those that expressly survive termination. If the Contract is not so terminated, the parties shall continue to negotiate the Condominium Documents until agreed to, and the foregoing conditions have been satisfied, or until this Contract is terminated by either of them by written notice given to the other at any time before the Condominium Documents are agreed upon and approved by the Title Company. Seller shall pay all filing fees and other fees and costs in connection with the City’s Corporation Counsel or outside counsel. The Parties shall cooperate with one another to make such changes to any such draft Condominium Documents as may be necessary or desirable based on the final design preparation and construction of the Improvements located or to be located on such Project Parcel, the reasonable requirements of lenders making loans on individual units within the Condominium (including any secondary mortgage market requirements). Finalization and recording filing of the Condominium Declaration (Documents, provided, however, that Purchaser shall pay the costs of its own costs in reviewing and finalization of negotiating the remaining Condominium Documents) shall be a condition precedent to , including, without limitation, the Redeveloper’s obligation to complete and convey the applicable Public Garage to the City and the City’s obligation to deliver payment for such Public Garage. Nothing herein shall restrict the Redeveloper’s ability to create more than one common interest community (as defined in CIOA) on any Project Parcel (including the use costs of one or more sub-common interest communities with respect to one or more units located in any underlying master common interest community)its counsel.