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SI-a
<br /> (4)—Maintenance. (a) During the term of this lease,lessee shall at lessee's expense make minor repairs to said ,
<br /> premises, buildings and improvements, including repairs to plumbing, heating equipment, electrical wiring and fixtures,
<br /> and replace broken windows,provided the aggregate cost of all repairs and/or replacement of windows required at any one
<br /> time does not exceed$50.00.Lessee agrees to paint the buildings and improvements whenever it deems such painting necessary.
<br /> (b) Lessor agrees at lessor's expense to make all other repairs to the said premises, buildings and improvements,
<br /> equipment and fixtures furnished by lessor,and to keep the same in good repair during the term of this lease,as well as to
<br /> replace any equipment furnished by lessor which becomes worn-out or damaged and cannot in the opinion of lessee, be
<br /> placed in first-class condition by reasonable repairs. In event lessor shall fail promptly to make repairs or replacements as
<br /> provided for herein, lessee is authorized to make the necessary,repairs or replacements and to apply accruing rentals to
<br /> reimburse itself for such expenditures.
<br /> (c) Lessor further agrees that in the event any structures on said premises are damaged or destroyed, lessor
<br /> shall notify lessee within twenty (20) days from the date of such destruction or damage whether or not lessor intends to
<br /> restore the premises to their former condition and if lessor so elects to restore the premises to their former condition,lessor
<br /> shall replace within sixty (60) days any such structures damaged or destroyed. If lessor fails to notify,lessee within
<br /> said twenty (20) day period or notifies lessee that lessor does not intend to restore the premises, or fails to restore
<br /> the same, lessee at its election may immediately terminate the lease effective as of the date the damage or destruction
<br /> occurred, in which event rental shall abate from the date of destruction or damage, or do the necessary repairing
<br /> or rebuilding itself and have the right to apply accruing rentals to reimburse itself for the principal expenditure,together
<br /> with interest at six per cent. If prior to and/or during the time the premises are undergoing repairs the use thereof by
<br /> lessee is materially interfered with,the rent accruing during such period or periods shall abate.
<br /> (5)—Removal of Property. Lessee shall have the right at any time during the continuance of this lease or within
<br /> thirty (30) days after its termination to sever and remove all buildings,and improvements,fixtures, equipment and other
<br /> property owned by lessee or placed on said premises by lessee during the term of this or any previous lease,or any extension
<br /> or renewal thereof.
<br /> (6)J---Lessee's:Right of Ter:dination: Should lessees be prevented°from establishing`%or'continuing the business of
<br /> distributing petroleum products on the whole or any part of said premises, due to any law, ordinance or regulation by
<br /> any Federal, State or Municipal authority, or due to any restriction on said premises and said restriction is not removed -
<br /> within ninety (90) days from the date thereof,then, in either of such events, lessee may terminate this lease upon giving
<br /> lessor thirty (30) days'written notice of termination, in which event lessee shall be relieved of all obligations under this
<br /> lease, including all liability for rent from the date lessee was prevented in any manner from conducting such business,
<br /> and all rental obligations shall be adjusted between the parties as of such date. If,during the term of this lease, a part
<br /> only of said premises be taken for public use under right of eminent domain, and if the remainder, in the opinion of the
<br /> lessee'.is-riot suitable for its purpose;lessee, at its option, may cancel and terminate this lease, but if it shall-not
<br /> elect so to do;the monthly rental thereafter to be paid stall be reduced by an amount which bears the same ratio to that
<br /> herein provided for as the area ta,ken bears to the total area prior to such taking.;
<br /> (7)—Damages for Defect in Title. Lessor covenants that he is well seized of said premises,has good right to lease
<br /> the same,and warrants and agrees to defend the title thereto; and to reimburse and hold,le§see harmless from all damages
<br /> and expenses which lessee may suffer by reason off any,restriction.,encumbrancre or defect ii,such,title.,r T .
<br /> (8)—Taxes and Encum rances. Lessor agrees.to�pay all.taxes, assessments and obligations which are or may
<br /> become a lied A'the demised premises and impPovem nts-as-tjhe ry'become due. If lessor should fail to do so, lessee shall
<br /> have the right to make such•payments for the account,of;_•lessor, in which event it shall be subrogated to all the rights
<br /> of the holder'of such lien and in adçlition thereto shall have the right to apply accruing rentals in satisfaction of such
<br /> obligations;or lessee,`in the event of a foreclosure of any such lien and the sale of said demised premises and improvements,
<br /> shall have the right to buy in said premises and improvements for its own account.
<br /> (9)—Options to Purchase. Lessor hereby grants to lessee the exclusive right, at lessee's option, to purchase the
<br /> demised premises, together with.all structures, improvements„and equipment-,thereon, free and clear of all liens and
<br /> encumbrances (including'leases which were not'on the premises`at'the date of this lease) at any time during the term
<br /> of this lease or any extension or renewal thereof,
<br /> (a) for the sum of -Thi tiy,Fo.UZ' Thoussnd Five-Hundred Dollars - Ia`t`■ iiere
<br /> (.4314J00•oo) dollars,it being ��!”'
<br /> understood that if any part of said premises be condemned, the amount of damages -
<br /> awarded to or accepted by lessor as a result thereof shall be deducted from said sum; +
<br /> (b) on the same terms and at the same price as any bona fide offer for said premises '14`s
<br /> received by lessor and which offer lessor desires to accept. Upon receipt of a bona fide
<br /> offer, and each time any such offer is received, lessor shall immediately notify lessee
<br /> in writing of the full details of such offer,including the name and address of the offeror,
<br /> whereupon lessee shall have thirty (30) days after receipt of such notice in which to
<br /> elect to exercise lessee's prior right to purchase. No sale of or transfer of title to said
<br /> premises shall be binding on lessee unless and until the foregoing requirements are
<br /> -€ully,complied with If lessee elects tocexercise lessee's prior right-to purchase pursuant
<br /> to any_such bona fide offer it is agreed that the terms-and coudifiwns,srtt,forth hi the
<br /> next to..the list paragraph hereof shall govern'sueh'mirehase.• •
<br /> Each such option herein granted shall be independent of the other, shall be pre-emptive and continuing, and shall
<br /> be binding upon lessor, lessor's heirs, devisees, legal representatives, successors and assigns. The election by lessee not to
<br /> purchase said premises in the case of any bona fide offer referred to in (b) above shall not terminate or in any wise
<br /> . affect either of such options but each shall thereafter continue unaffected as set forth in this paragraph.
<br /> Upon receipt of lessee's notice of election to exercise either of the options granted herein, which notice shall be
<br /> given in accordance with the Notice Clause of this lease, lessor shall immediately deliver to lessee, at lessor's expense,
<br /> a complete abstract of title or other evidence of title satisfactory to lessee, and shall also furnish, at lessor's expense,
<br /> an up-to-date survey by a licensed or registered professional engineer or surveyor showing elevation of property and
<br /> corners marked with concrete monuments, upon receipt of which the lessee shall have a reasonable time in which to
<br /> examine title, and upon completion of such examination, if title is found satisfactory, and upon tender of the purchase
<br /> poiss.1*,lefisootAtirsdr shall promptly}deliver to Lessee a good and sufficient Warranty Deed conveying the premises to
<br /> lessee free.and clear-of all encumbrances (including,but without limiting, any rights of dower or:cu'rtesy). All rentals
<br /> and taxes shall be prorated between grantor and grantee tp,ttleldate of delivery of the aforesaid deed.
<br /> Ikessee'sf notice of election to purchase pursuant to,either the optiops ranted in this clause shall be sufficient
<br /> if.deposited in the mail addressed to lessor.or if sent by telegraph_at or:before midnight of,the day'on which the option
<br /> period expires.,- - ..
<br /> (40)—Application of option Purchase iPrice, In•event;accruing-rentals,are insufficient'to reimb'urse:lessee for
<br /> expenditures made'by'lessee as authorized hereunder, and in event lessee exercises the option to purchase the demised
<br /> premises, lessee may apply such part of the purchase price as is necessary to (a) completely reimburse itself for such
<br /> expenditures and'(b;)pay:any other indebtedness of lessor to lessee,together with interest at six per cent._
<br /> (11)—Option to Extend Term. (a) The lessor hereby grants to lessee the right and option to extend this lease for
<br /> j
<br /> an additional p.er ,od.....of five years on...._th.e same terms and......00ndit.ions.
<br /> as._.inco.r..p.orat.ed in th.e_...o.riginal ten...year term....of this lease....and....for a.. INfl HERE
<br /> s.e.co.nd five_...yf:ar per..io.d, beginning at the exp.ir_at.ian of the .first-Sive ''
<br /> year p-er..i.o.d., under_the same t.erms...an.d._.£On.ditions.,...._.exc.ept for this °�
<br /> •option.- ,...
<br /> Lessee shall notify lessor-in writingof'Its eleetioii to eefend this lease sixty (60) days prior to the date of the expiration
<br /> of the term of this lease and notice thereof shall be deemed sufficient if given in the manner hereinafter provided.
<br /> (b) If at any time during th &in('of this lease or"any extenaian rirenedral thereof,lessor shall receive a'bona fide
<br /> .offer to lease the demised premises for a term to begin subsequent to the present demised term or any extension pr renewal
<br /> thereof,and lessor desires to accept such offer,lessor shall immediately submit to lessee a written copy of such offer with a
<br /> full disclosure of all terms and provisions thereof and lessee shad,have thirty (30) days after receipt thereof in which
<br /> _— }n pct-to lease.said pr•mia•a-npon"tbe.same.terms and j ovisi`ona contained in such offer.
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