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<br /> 76- U0 � 598
<br /> 22 . DeQosit and Advance Rental , Lessee has deposited with Lessor the sum
<br /> of OIPN TIt0U9APD TWO HU1tD1tI�D FZFTR�$1 ,250 . 00) as securi ty for fiai thful perfor-
<br /> mance an3 o�'servan'ce by Lessee'ofi t� terms , provisions , and conditions of this I
<br /> lease . it is ahreed that in the event Lessee defaults in respect of any of the
<br /> terms , provisions , and conditions of Chis lease , including , but not limited to ,
<br /> the payment of rent and additional rent , Lessor may use , apply , or retain the
<br /> whole or any pert of the security so deposited to the extent required for the
<br /> payment of any rent and additional rent or any other sum as to which Lessee
<br /> is in default or for any s �mie which Lessor may expend or n�ay be required to
<br /> ` ` expend by reason of Lessee ' s default in respect of any of the terms , covenants ,
<br /> and conditions of thfs Lease , includinq but not limited to , any damaqes or de -
<br /> ficiency in the reletting of the premises , whether such damages or deficiency
<br /> accrued before or after sunmary proteedings or other re-entry by Lessor .
<br /> In the event that Lessee shall fully and faithfully comply wlth all of the
<br /> terms , provisions , covenants , and conditions of this lease , the security shall
<br /> be returned to Lessee after the date fixed as the end of the lease and after �
<br /> delivery of entire possession of the demised premises to Lessor . The above
<br /> ar.rount will be utilized as the first nanths rent and last months rent , except
<br /> the las � months rent being utilized as a security deposit Aurin9 the term of
<br /> the lease , as outlined above .
<br /> ?_ 3 . I�n_t�er retation . Wherever either the work "Lessor" or° Lessee " is used
<br /> in this lease , ii s�ie�Ti—re considered as meaning °Lessors " or" Lessees " , re-
<br /> spectively , wherever the context permits or requires , and when the singular
<br /> and/or neuter pronouns are used herein , the same shall be construed as including
<br /> ' all persons and corporations designated respectively as Lessor or Lessee in the
<br /> heading of this instrument wherever the context requires .
<br /> ?_4 . A reement C�lete . This lease containes the entire agreement of
<br /> the parties w t respect to�he sub� ect matter hereof , and no representation ,
<br /> inducement , promises or agreement , oral or otherwise not embodied herein
<br /> with respect to the sub,ject matter hereof , shall be of any force or effect .
<br /> 25 . Time of the Essence . Tin�e is of the essence + n the doin9 ,
<br /> �; performing an oc�T—bs��ng�each and every term , covenant or condition of
<br /> this lease by both the Lessor and the Lessee .
<br /> �; 26 . _C�a_�t�io�_n�s�. The captions of the several items of this lease are not
<br /> < a part of tiel context hereof and shall be ignored in construin9 this lease .
<br /> � ' They are intended only as aids in location and reading the various
<br /> ;f ;' provlsions hereof .
<br /> � ; "Upon exspiration of the ten year lease period the lessee , apon 1l10 days
<br /> notice to the leasor , shall have the right to purchase the leased premises
<br /> he is currently leasing . The purchase price shall not he more than the
<br /> ' appraised value of the premises as determined by an independent real estate
<br /> ' appraiser - less ten percent , and not less than the outstanding indebtness
<br /> ; against the project . The purchase price shall be paid in cash at the time of
<br /> the exspiration of the lease . "
<br /> r: It� 4lITPI[SS WHERCQF , the parties hereto , have executed two duplicate
<br /> counterparts hereof , each of �vhich shall constitute an orininal , on or as of
<br /> thi s leL day of ,- - -- - IrEBAUpitT --- -- , 19 '(6 .
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