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<br /> 1VIgSC �E��.AI�T�OIJS �t]�CORI� S
<br /> TXE AV6UfTIN[CO.127B7 �
<br /> the agreements, obligations, conditions, and covenantg herein set forth, Por and during said
<br /> extended term oP years; and the execution by the partiea of a new lease or an inetrument of anp
<br /> kind, extending the term oP this lease in accordance with such notice, shall not be required .
<br /> Page �.
<br /> ARTICLE X1V.
<br /> P[1RCHASE OPTION:
<br /> For the conaiderations herein named, Leasor hereby gives and grante to Lesaee the eac2usive option;
<br /> and privilege of purahaaing the leased premises, including all, iP any, of L�seor's improvements
<br /> and property thereo :n, whether real, personal or mixed, f'ree and clear of aIl liens and encumbranr�es,
<br /> Por the aum of FOURTEEr1 THOUSAND FI VE HUNDRED AND NO/100TH8 (�14,500.40) in cash at any time a.fter
<br /> the first (lst} year of the term or any extensions thereof; pronided Lessee �shall �ive Lessor not
<br /> less than eixty (60) ds.ye' notice of Lessee 's eleetion to exercise this purchase option. Upon
<br /> Les�ee 's giving such notice, Lessor shall comply with the requirements of the second succeeding
<br /> Article, entitled, "C�NVEYANCE REqUIRENiENT5."
<br /> ARTICLE XV.
<br /> PURCHASE REFUSALs _
<br /> In the event Les�or shall receive Prom a third party at any time during the term of thia lease a
<br /> bona fide ofPer to purchase the leased premises at a apeciPied price, �rhether such price be first
<br /> fixed by Leseor or the third party, and Lessor shall decide to aell the same for such amount,
<br /> Lessor sh�,ll promptly give to Lessee notice o� the terms oY such offer and oP Lessor's willingnes�
<br /> to sell Por the price ofPered, and Lessee ehall have the first refusal and privilege (which will
<br /> hereafter be referred to as an "option" ) oY purchasing eaid premises at such price; auch option
<br /> to be exercised within ten (10) days aPter i;esaee receivea notice from Lessor by Leasee 's notify-'�
<br /> ing Leesor that i� will purchase said premisea for the amount epecified in said offer. In the
<br /> event Les�ee shall not give Leesor notice, within sa�id ten-da,y period, of ita election to purchase
<br /> Por the amount speci2'ied in eaid oYfer, Leasee ahall not be abligated to purchase, and Lessor may
<br /> thereaYter sell said premises to the party ma,king the ofPer; sub�ect, however, to this leaee and
<br /> to the leasehald estate herein granted, �nd to the extenaion and/or additionsl purehase options,
<br /> if any, herein granted ta Lessee. If for �any reason said premises are not sold to such party,
<br /> not3ce of any subaequent bona Pide offers, acceptable to Lessor, shall be given to Lessee upon
<br /> the same terms and conditiona for acceptance or re�ection as hereinabove provlded.
<br /> IP Lessee shail�elect to purchase eaid premieea under the option hereby granted, Lessor shall com-
<br /> ply wlth the requirements oY the next succeeding Article.
<br /> Page 9.
<br /> ARTICLE XVI.
<br /> CONVEYAN�E RE�UIRF�uIENTS: '
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<br /> The giving by Lessee of notice oP the exercise of' a.ny purcha.ae option hereinbePore granted, ahall
<br /> fix and determine the right of Lessee to purchaee the property included in the option rvhich Lesee�e
<br /> eleata to exercise, and the obligation of Leesor to sell the same. Lesaor Bhall furnish, free of!
<br /> expense to Lesaee, within FIFTEEN (15) days after the receipt oP said notice, a complete Abatrac�C
<br /> of Title certiPied fra�► title in the aanern ment, Title Statement, or Title Guarantee Policy pre- '
<br /> pared and iesued by a flnancially responaible title abstraet company, or a Title CertiYicate com-
<br /> monly rePerred to as a pTorrena Certificate of Title,N aho�ving good merohantable title in Lessor ;
<br /> as of a date not earlier than the date of said notice. A reasonable time will be allowed Lessee
<br /> ta examine such abstract or other evidence of title, and if the sa.me does not then sho� good
<br /> merchantabls title in Lessor, a reasonable time will be allowed Lessor to cure defects and clear
<br /> the title preparatory to delivery of dee8 and any other in�truments required to effeot the trans-►
<br /> Per and ecriar�yance. �
<br /> Upon acceptance by Lessee oP said title, and payment to Leasor of the purchase price herein �
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<br /> speciPied, Lessor ahall convey to Lesaee or its nominee, by General Warranty Deed, a Yee_eim�n?P_ : __ ___
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