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<br /> lr�� �� JLr�JirL7. 1� �� �.J � ��� ��� �
<br /> TXEAU6UfTINECO.�P'�87 � ��
<br /> � SEVENTH.
<br /> �'he Iessee is hereby granted an option of five ( 5) years from ttie expiration of this preaent lease
<br /> for five ( 5) additional years under the same terms and conditions as are expres9ed herein; horovever,
<br /> said IPSSee , in order to exercise said option, muQt notify both af said leasors or their Iegal reg-
<br /> resentatives by regiatered mail, which notlfication must be sixty ( 60) days prior to the termination
<br /> of this Iease ; said lessors Purther agree that if, durin� the term of said I.ease or of the extension,
<br /> in the event said Ieasee exercisea the option herein contained, that they decide to ael.l the real
<br /> estate hereir� involved, that said lesses shall. have Pirst option of buying the same.
<br /> It is expressly agreed between the p�.rties hereto, that if default i� made in the payment of the
<br /> rent above reserved, or any part thereof, or in any of the covenants and agreements herein co nta�.ned,
<br /> to be kept by the lessee it shaZl be lawful for the Ieasors, their heirs or asei�ns at ar� time
<br /> thereaPter, at the electlon oP sa.id Iessors, their heirs or asaigns, without notice, to declare the
<br /> said term ended, ar.d to re-e nter eaid demised premises, or any party thereoP, elther with or without
<br /> process of Iaw, and the said Ie�see, or any person or persons oceuping the same, to expel, remove,
<br /> and put out, using such force as may be neeessary so to do, and the eaid premises again to repoasese
<br /> and en,�oy, as before thi� demise, without pre,judice to any reme dies whieh might o�herwise to be used
<br /> for arrears oP rent or preceding breach of covenants.
<br /> In case aaid premises ahall be rendered untenantable by fire or other casualty, the Iessors may, at
<br /> their option, terminate the I.ease, or rebuild and repair the premisea within 3 months fram date of
<br /> such destruction. But in the event the Iessors rebuild sa3d premi�es then Iessee �hall have the
<br /> option to con�inue in possession of the basement and firat and second etory oP any building which
<br /> may be erected thereon, the rental of eaid prem�.ses to then be determined as follows: That Por
<br /> rental purpoaea the land shall be apnrai�ed at �16,000.00 and the buildin� shall be appraised at
<br /> the costs thereof, then these figures are to be added together and the Iessee shall pay a rental
<br /> of l,� per month and 'before a building is erected sald Zessee ah�,ll have the option of Qgreeing with
<br /> said lessors as to the kind and type of bullding that is to be erected, and shali approve aaid b3.ue
<br /> printa and plans; however, in the event that said lessee does not okay or submit to Iessors a plan
<br /> of buildin� within 30 days after the destruetion of the building said lessors are then at liberty
<br /> to erect a buildin� and lease the same to other partles; it being the intention of the parties
<br /> hereto that the Iessee shall be given the privi].ege oP leasing any �any new building which is erected
<br /> on the premisPS and in the event he fails to exerc3se this right within the time hereinbeYore epec-
<br /> iYied, then and in that event all oP h3.s rights in and to this Ieaee shall terminate. In the event
<br /> a two or more story building is erected and the �essee does not care to oecupy any pQrtion thereoP
<br /> himself he is given the pr3.vilege of sub-leasing that portion thereoP to someone else.
<br /> It is �'urther agreed tha'� in the event that the lessee and Iessors cannot a�ree on the size oP the
<br /> bullding that the Ie�sors may erect a higher building than what Iessee a�rees to lease, in which
<br /> event the cost� oP the bullding which is erected hi�her than that which will be used by said lessee
<br /> ahall ir� no wise or manner aPfect the rental to be made on that portion of the building which eha11
<br /> be occupied by said lessee. �
<br /> It is further agreed that in the event� said premises a�re rendered wholly untenantable by reaeon of
<br /> fire or other casualty then the Iessee shall not be required to pay rent during '�he period th�
<br /> premiges cannot be accupled; in the event eaid premises are partially deetroyed, iP �he le$see aan � � •
<br /> occupy part o�' the, premises the le�see shall pay ren� ln pxoport�.on tp the u,�ae ma,de oP s��l; pr��nises
<br /> while in partial tenatable condition. .
<br /> It is Purther agreed that the covenants anc� agreements herein contalned �hall be binding u�on,
<br /> apply a.ld inure to their reepeotive heirs, executors, adminiatrators, 8uacessors and assigne of both
<br /> the l�ssors and lessee. . �
<br /> IN WITNESS WHEREOF the pArties have hereunto set their hands and seals the day and year firat above
<br /> �itten.
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