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Page 10, <br />ARTICLE XIV. <br />CONVEYANCE REQUIREMENTS,: <br />The giving by Lessee of notice of the exercise of any <br />purchase option hereinbefore granted, shall fix and determine the <br />right of Lessee to purchase the property included in the option <br />which Lessee elects to exercise, and the obligation of Lessor to <br />sell the same. Lessor shall furnish, free of expense to Lessee, <br />within Twenty ( 20 ) days after the receipt of said notice, <br />a complete Abstract of Title certified from title in the Govern- <br />ment, Title Statement, or Title Guarantee Policy prepared and <br />issued by a financially responsible title abstract company, or a <br />Title Certificate commonly referred to as a "Torrens Certificate <br />of Title," showing good merchantable title in Lessor as of a date <br />not earlier than the date of said notice. A reasonable time will <br />be allowed Lessee to examine such abstract or other evidence of <br />title, and if the same does not then show good merchantable title <br />in Lessor, a reasonable time will be allowed Lessor to cure defects <br />and clear the .title preparatory to delivery of deed and any other <br />instruments required to effect the transfer and conveyance. <br />Upon acceptance by Lessee of said title, and payment to <br />Lessor of the purchase price herein specified, Lessor shall convey <br />to Lessee or its nominee, by General Warranty Deed, a fee simple <br />title in and to said real estate and the appurtenances thereunto <br />belonging, free and clear of all liens, encumbrances, and charges <br />of whatsoever character, with release of dower, curtesy, homestead, <br />and all statutory rights; and shall also deliver to Lessee, free of <br />expense to Lessee, such abstract or other evidence of title, show- <br />ing good merchantable title to said premises in Lessor at the time <br />of delivery of deed. <br />If any personal property shall be included in the option, <br />Lessor shall furnish evidence, satisfactory to Lessee, of Lessor's <br />ownership thereof, and shall convey the same by Bill of Sale with <br />full covenants of warranty. <br />Such purchase shall serve to cancel the within lease in <br />all particulars, and if Lessor shall have been paid rents covering <br />a period subsequent to date of delivery of deed, such payment shall <br />be applied on and shall constitute a part of the purchase price of <br />the property conveyed. <br />If at the time of purchase there shall be a valid <br />mortgage, trust deed, or like ericumbrance against said premises <br />or any part thereof, which cannot be then paid and satisfied with- <br />out payment of penalty or bonus, the amount of indebtedness evi- <br />denced by such instrument shall be withheld by Lessee from the <br />purchase price and conveyance shall be made subject to said in- <br />debtedness, Lessee assuming payment thereof. <br />k <br />