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liens. encumbrances, restrictions and defects in title. except current property taxes not in default. On or before the date of closing. Buyer shall deposit with Er crow Agent the purchase priceless 2nycreclit5, am proration. S. CLOSING. The Escrow Agent shall disburse the funds to Setter and record the documents when; (al Sella is prepared to deliver to Buyer sole and actual possession of the Premises, free and clear of all tertaints, signs, encroachments and panics in possession; and (b i Escrow Agent is prepared. after recording the deed delivered to it by Seller. to issue and deliver to Buyer an ALTA Form 5 owner's policy with extended coverage, or a comparable form, in the amount of the purchase price. insuring that title to the Premises is vested in Buyer in fee simple. subject only to current property taxes not delinquent. Taws and other items of current revenue and expense shall be prorated as of the closing date and if the amount of such taxes is not then ascertainable. the prorating shall be on the basis of the amount of the most recent Ascertainable taxes (increased by 40% over the preveeding year 1. All risk of loss or damage to the Premises occurring prior to the closing date shall be Seller's. Escrow charges. title insurance premiums. recording fees, all documentary and transfer axes and ail other costs incident to completing the purchase shall be paid by Buyer. 6.. WITHDRAWAL If at the expiration of sixty (60) days after the date this option is exercised. any one or more of the conditions specified in Article 5 have not been satisfied. Buyer May. at any time thireafter, it its option and without prejudice to any other rights or remedies it M2yh2ve against Seller. withdraw from this transact' lon knd be released of all liability hereunder. by giving notice to Seller and Escrow Agent; whereupon all consideration paid for this Option shall be refunded by Seiler to Buyer. and Escrow Agent shall mum the deed to Seller and any cash deposits to Buyer. 7. RIGHT OF FIRST REFUSAL TO PURCHASE. It is further agreed that should Seller. or All, Seller's heirs. executors. successors or assigns, at any time during the term of this Option to Purchase. receive in offer to purchase 211 or any part the Premises. and Seller desires to accept the offer: or CID should Sella during any such time make an offer to sell 211 or any p;,.; ): the Premises tincluding. without limitation. listing the Premises for sale with 2 real estate bro'ker). Seller shall give Buyer thirty (30) days notice in writing of the offer detailing the name and address of the proposed purchaser or broker. together with Copies of all relevant documents. the amount of the proposed purchase price and all other terms and conditions of the offer. Buyer shall have the first option to purchase the Premises which an the subject of the offer by giving written notice to Seller of its intention to purchase within S' the thirty (30) day period at the same price and on the same terms of the offer. If Buyer does not give notice of its intention to exercise its option to purchase within this period. this Agreement and 211 of its terms and conditions shall nevertheless remain in full force and effect and Seller and any subsequent purchaser or purchasers of the Premises shall continue to be bound. This right of first refusal to purchase shall run with the land and be applicable to 211 subsequent offers and all ,subsequent owners. 8. NOTICES. Evcr• notice under this Agreement shall be given only by certified or registered letter or telegram. and shall be deemed given when the letter is deposited in the mail or the telegram fi)Wd&:th h 212c) P any, - stag or Ch &W f%V1LC&r2p COM p id an q direct qd to SWer at 11/aMIX; MUM fAiv and to Buyer atMcDon2ld's Plaza. Oak Bi9ok. Illinois 60521. Attention; Director of Real Estate. Legal 9. SUCCESSION. This Agreement shall bind and inure to the benefit of Seller*s heirs. 2dnuni- tr3tOfS. executors. SUCCCSSO!b and assigns and Buyer's successors and assigns. 10. RECORDING. Either party M2V record this document and each shall cooperate with the other so that this document shall be made in recordable form and thereafter may be recorded. EXECUTED by Seller and Buyer as of the date above stated. SELLER: BUYER: MCDONALD'S CORPORATION By: B...; icc President ATTEST. VITNESS; ATTEST. Assistant Secretar%a A*ITNESS: A 4APPEM) %CKNOU LED(jNIE\T�i