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<br /> of roal estate mortga�es and to },�rovide for insurance in favor of mortgagee, and to bo subject
<br />� to a first nlort;age of :�>40 000 00 no�* existing on said premisas descr3bed in this clause, which
<br /> said �40 000 00 mort�ago and the 'oonds, secured thereby, the said lessaes hexein named, or
<br /> their assigns, are, in caao they purchase said nrernises, to assurl7e as a part of the puarchase
<br /> pricQ, 3tn. their deed. The option given to �urchase the premises described in this clause on
<br /> this contract shall be axercised by said lessees or their assi�ns �rithin one year from the date
<br /> of this lease by giving to lesaor a written notice, which notice must be given on or beforo
<br /> :�ay 1, 1°10, and upon receipt of such notice, lessor will, under the conditions ��rein stated,
<br /> make, execute and deliver to lessees a good and sufficient �varranty deed and furnish an
<br />! � abstract sho;�ring a ;ood, r�arketable title thereto in lessor or its assigne, sub�ect to the said
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<br /> mortga;e of �40 000 04 herein described, and in tne event of the exexcise of such option and th
<br /> purchase o� said pro�ertJ heroin providod to be sold and conveyed, then �'600 00 per month of
<br /> the �entals providsd for in this lease which have 'peen naid by lossees to lessor �vith interest
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<br /> � at six Per cent ?er annum thereon f rom the dates of payment to the date of the delivery of said
<br /> deed shall be a��plied upon the �urchase nrice of �70 000 00 for said pro�erty as a part of the
<br /> �10 000 00 payment ; '_ the said �70 000' 00 to bear interest , hoti�ver, at six per cent per annuM '
<br /> from .�day lst , 1909, to the date of delivery of said desd, and lessor in addition to six per
<br /> cent on the �70 000 OO from I�ay 1, 1909 �s to be reimbursed and re�aid for all amounta paid out
<br /> by it for taxas, repairs and insurance on said buildings and premises upon which the o�,;�tion is
<br /> �iven, falling due after 1�ay 1, 1909 . It is expressly a�reed that if saici option to rurchase�
<br /> is not exercised by the said lesseea or the I�IcClintock Hotel Com;�any wit hin one year from
<br /> rday 1, 1909, in the man�^:er herein required, then the �aia option to �urchase to become '
<br /> a�solt.tely v�id and of no effect, and all ri�hts and �arivileaos givon under said option sha11
<br /> absolutely end and terrlinate on �,iay lst, 1910. This oy�tion can only be exercised by �he le;al
<br /> owner of this lQase.
<br /> Eleventh: It is further agroea that 3n case of the purchase of the nremiees deacriUed
<br /> in the option herein Uiven by said lessees or the ��icClintock Hotel Com�any, within the� time
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<br /> herein �rovided, tlien this lea�e and all its provisions shall be cancelled anr3 annulled between
<br /> f the parties hereto and their assigns at the date o� the delivery of ths said deed, exce�t as to
<br /> the annex situated on the South Twenty-four faet of the North sixty-eight feet of said Lots One
<br /> and t�vo, and the �Iest Forty-four feet of the south sixty-four f�°et of Lot three in said block
<br /> fifty-six ti�rhich is retainad 'py said lessor, and not included in said o�tion of nurchase, but
<br />� which last described pro�nQrty lessees can, if the� desire, retain under all the .terms and con-
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<br />�� ditions of this lea�e from and after their �urchase of the other pramisea degcriUed herein,
<br /> until April 30, 1919, at a rental therefor of �100 00 per month to be paid by them or their said
<br /> assigns, monthly in advance on the first ciay of each and evexy month, as prov�dad by the main
<br /> terms of this leasa, said annex and hotel yard south thereof, if retained by said lessees, to
<br /> be used in connection vrith saia hotel buildin�; after their purchase theroof, under the option
<br /> herein stated. If, upon the purchase of said pxopertp under their option, lessees do not
<br /> desire to retain said annex and yarcl back of same, then and in that case lessor agrees to take
<br /> vaek sam� and cancel the lQase relative thareto, in which event lessees agree, at their eg�ense,
<br /> to rebuild ths brick tiFaalls and ol�onin;s in the mason,ery, which now connect said annex with the �
<br /> Y.oehlor �Iotel, ana restore same in the conaition they were before said o�enings were made .
<br /> It is a-greed that the covanants, conditions and terma of this contract and lease shall
<br /> succeed to and be bin�ling ul�on the heirs, executors, representatives, assigns and successors of
<br /> the �arties he-reto, subject to all its terms, reatrictions and conditions herein set forth.
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