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(3)— Rental. Lessee agrees to pay the following rent for said premises:—
<br />A sum equal to one -half (2) cent for each gallon of Lessee's gasoline
<br />delivered to the said premises each calendar month during the term hereof,
<br />payable monthly on or before the fifteenth (15th) day of each month next
<br />following the month for which payment is made.
<br />Lessee agrees that rental shall be payable in monthly installments and that if any installment thereof shall be
<br />due and unpaid for ten (10) days after written notice of such default has been delivered to the Division Manager of the
<br />lessee, at its place of business as shown in this lease, lessor shall then have the right to terminate this lease on thirty (30)
<br />days' written notice to lessee.
<br />Lessee, at its option, may apply at any time such rental or any installment thereof to the payment of any indebtedness
<br />due or to become due from lessor to lessee. Such application shall be deemed payment of such rental.
<br />(4)— Maintenance. Lessor agrees to maintain said premises and improvements, including plumbing, heating, and
<br />electric wiring, in good repair, and to paint same according to lessee's specifications when deemed necessary in the opin-
<br />ion of the lessee during the term of this lease, and to rebuild within sixty (60) days any structure on said premises
<br />damaged or ,destroyed. In the event of lessor's failure to do so, lessee, at its election, may either terminate the lease
<br />on thirty (30) days' notice to lessor, in which event rental shall abate from the date of destruction or damage, or do
<br />the necessary repairing or rebuilding at the expense of the lessor and have the right to apply accruing rentals for
<br />the purpose of reimbursing itself for the principal expenditure, together with interest at six per cent. If, prior to and /or
<br />during the time the premises are undergoing repairs, the use thereof by lessee is materially interfered with, the rent
<br />accruing during such period or periods shall be abated.
<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
<br />extension or renewal thereof.
<br />(6)— Lessee's Right of Termination. Should lessee 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 not 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 shall be reduced by an amount which bears the same ratio to
<br />that herein provided for as the area taken bears to -the total are$ 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 lessee harmless from all damages
<br />and expenses which lessee may suffer by reason of any restriction, encumbrance or defect in such title.
<br />(8) —Taxes and Encumbrances. Lessor agrees to pay all taxes, assessments and obligations which are or may
<br />become a lien on the demised premises and improvements as they 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
<br />rights of the holder of such lien, and in addition thereto shall have the right to apply accruing rentals in satisfaction of
<br />such obligations; or lessee, in the event of a foreclosure of any such lien and the sale of said demised premises and
<br />improvements, 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 Lite smir oF
<br />-awarded to or oeeepted by lessor ee ft result thereof shsAi be deduebed from saiel war&-,-
<br />underateed that if any pftrt ef said premises be eandenmee), the amount ef damage.
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<br />(b) on the same terms and at the same price as any bona fide offer for said premises 1G1 �j
<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" 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 i
<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 />fully complied with. I£ lessee elects to exercise lessee's prior right to purchase pursuant
<br />to any such bona fide offer, it is agreed that the terms and conditions set forth in the
<br />next to the last paragraph hereof shall govern such purchase.
<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'profeissional engineer or surveyor showing time elevation of property and
<br />corners marked with concrete monuments, .upon receipt of . which the lessee shall have: a reasonable me in -which to
<br />examine title, and upon completion of such examination, if title is found satisfactory, and upon tender of the purchase
<br />price to lessor; lessor shall promptly deliver to lessee a good and stilicient Warranty Deed conveying the premises to
<br />lessee free and clear of,all encumbrances (including, but without limiting, any rights of doweror curtesy). All rentals
<br />and taxes shall be prorated between grantor and grantee to the date of delivery of the aforesaid deed.
<br />Lessee's notice of election to purchase pursuant to either of the options granted 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 />(10)— Application of Option Purchase Price. In event accruing rentals are insufficient to reimburse 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 suelf 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 percent.
<br />(1i)—Option to Extend Term. (a) The lessor hereby grants to lessee the right and option to extend this lease for
<br />an additional. period of five years on the same terms and conditions as incorporated
<br />in the original five year -term of this lease,_exeept forth s obtion.. " ''
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