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004-324
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Renewal <br />Renewal <br />23. Tenant shall have the right to renew or extend the <br />within lease for a period of Five (5) years, following the <br />expiration of the original term hereof at a rental of Three <br />Hundred Fifty and no /100 Dollars ($350.00) per month, and <br />under the same terms and conditions as for the original term <br />as set out herein. In the event Tenant exercises this option <br />to renew or extend, written notice thereof shall be given <br />Landlord at least thirty (30) days prior to the commencement <br />of such renewal or extension period. <br />24. Tenant shall have the right to renew or extend the <br />within lease for a period of five (5) years following the <br />expiration of the renewed or extended term provided for in <br />Section 23 hereof, subject to the conditions herein on the same <br />terms, as expressed in this instrument with the exception of <br />rate of rental, which shall be determined at the time of renewal <br />between the parties in interest, said rental to be a reasonable <br />rental under the then existing conditions, provided, the Tenant <br />shall give Landlord notice in writing of Tenant`s desire so to <br />renew at least ninety (90) days before expiration of the term <br />of this lease, otherwise this option shall become null and void, <br />and, further provided that this option shall not be assignable <br />or transferable except in the instances of subletting and assign - <br />ment permitted by paragraph 14 of this lease. <br />First Refusal 25. During Tenant's occupancy under this lease, or any <br />extension or renewal thereof, Tenant shall have first refusual <br />option to purchase the leased premises (together with right <br />of way for ingress or egress) upon the same terms and conditions <br />as contained in any valid, acceptable, bona fide offer Landlord, <br />or Landlord's successors, may receive. The foregoing right <br />shall not apply to any offer which the Landlord may have for <br />purchase of the whole tract now belonging to Landlord, or any <br />part or parts thereof, other than the leased premises and right <br />of way, provided any such sale by the Landlord shall restrict <br />the use of the tract or tracts sold during the term of this <br />lease, or any extension, to a use or uses not competitive with <br />F, <br />the business use of the Tenant. <br />-10 <br />
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