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<br /> 'fNEAUGU9TINECO -�I6O� ^� ,_J
<br /> � �"NTH If lessee shall default in payment of any installment of rent, payable by lessee, under;
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<br /> i the term�s of this lease, or any other of the �erms and conditions of this Iease, and if suc� defaul�.t
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<br /> '; shall continue for a period of ten days after notice of such default has been given in writing byi;
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<br /> ��i lessor to lessee, at his last knovan place of addresa , tnen such leesor may proceed to collect th�+
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<br /> '� aum, or at the election of the lessor such failure to perform the conditions and provisions of th�is
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<br /> �; �nd lessee upon vv�ritten notice from the lessor of such election shall, without further not3.ce,
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<br /> ;' quit and surrender said premises, or u�on proof of such default, if lessee refuses to vacate or ;;
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<br /> !� contests said forfeiture, lessor may recover possession thereof by action of forcib2e entry and ;,
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<br /> �' detainer , or in any other ma.nner provided by law, and upon forfeiture of this lease, or upon its �I
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<br /> " termination, in any other manner , leases of any sub-tenants, holding under the lessee, ar�d any ii
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<br /> '' right �vhich any sub-tenant may have in any part o� said premises shall at the option of the lessd�,
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<br /> I� eease and terminate without notice. !
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<br /> ; T�'�ELFTH; It is agreed that lessee may at its option renew this Iease for a term of five (5} yea�?is
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<br /> ' fram the date of i.ts ex�ir�.tion as herein fi�ed, by giving to lessor written notice of its elect3ilon
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<br /> �� to renew th� same not later than ninety days before date of such expiration and upon the deTivery�
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<br /> '� of such notice this lease shdll thereupon be renewed for said extended term and shall continue tc�
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<br /> �` be binding upon the parties as to all its terms, conditions and covenants for such extended term��
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<br /> �I', the rental for the extended period to be determined by a board of appraisexs or arbitrators sel�eted
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<br />, �; in the follo�in,� manner, to-�sit; � � �i
<br /> I ; Each p�.rty hereto to choose one appraiser or axbitrator and in the event the t�ao thus ehosen ase ;s
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<br /> ;� unable to reach a conclusion, then a third to be selected by said t�vo appr�.isers so chosen and tHle
<br />� '� conclusion reached by two of the three appraisers so chosen to be binding on the parties �hereto. ��
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<br /> '' THIRTEEN'PH: Lessor hereby a grees �hat lessee may, at its option, purchase said real estate cove�ed
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<br /> � by this I.ease at any time during the term hereof on the following basis; in the event said optior�
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<br /> �' is .exercised prior to Ja,nuary 15, �935, the purchase price sh�,ll be �13 ,500.00. -In the event saic�
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<br /> ';� option is exercised after January 15, �935, then the pwr.chase �rice shall be increased �1000.00 �'
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<br /> ! for each �r�ear after January 15, 1935, durir� the term of this lease, said option to purchase is j�
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<br /> �� exercised; but lessee shall �not exercise this option to purchase said property unless it shall ��
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<br /> ;� notify lessor in writin� of its election to so purchase at lease ninety day� before Ja.nuary j�
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<br /> f3.fteenth of the year in which s�id purchaee is to be made and the within lease contemplates tha�
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<br /> ,' said eale shall be completed on or before January 15th of that year. Upon exercising said optio�
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<br /> ':; and making the payment provided, lessor agrees to give lessee a good and sufficient deed to said,l
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<br /> property conveying a marketable fee simple title thereto. Also agreea to the transfer of said �,
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<br /> !'� premise� to submit to l�ssee an abstract of title to said premises showin�; a ma.rketable title to ;
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<br /> ; be in the name of lessor and in the event such abstract does not sho�v s�.ch marketable title, agr�es
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<br /> �', within a re�.sonable time, to do those things necessasy to show a market,a.ble title. It is also �
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<br /> ? understood that the option to buy does not continue beyond the term herein leased and has no ji
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<br /> � a�plication to extensions of this lease. ;'
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<br /> " FOURTEENTH; On -the termination of this lease, whether b� lapse of time or otherwise: the lesseei
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<br /> ;i shall promptly and without f urther notice to quit, turn over and de�iver and surrender to the ��
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<br /> �� I.essor the leashole premises covered by this lease in a.s �ood condition as the same may be at �'
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<br /> any time durin�; the ti��e of this lease, ordinary and usual wear and tear and damage or destructi�n
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<br />' � by the elements, f ire and unavoidable e�sua7�ty excepted. ;;
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<br /> ; FIFT�ENTH: All the terms, provisions, conditions and coven�,rr�its'::.in this �.ease, whther so expresse�
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<br /> �' or not , shall bind �.nd inure to the benefit of, as the case may be, the heirs, executors, a�dmini�-
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<br /> trators, successors and assigns of the respective p�.rties hereto. �
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<br /> ;; SIXTEENTH: In the event any ordinances of the City of Grand Island or laws of the 3tate of Ne- �;
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<br /> ;� bras�a, are herea.fter legally passed, legal7.y prohibitin�; the lessee from mainta.ining or operati#g
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