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85002917
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85002917
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Last modified
10/17/2011 9:12:24 PM
Creation date
4/1/2008 4:29:35 PM
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DEEDS
Inst Number
85002917
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1 j <br />oo2$s7 <br />insurance <br />premiums shall be paid by the optionee under the <br />sublease and not prorated in escrow. <br />6. TERMINATION AND ASSIGNMENT OF THIS OPTION: <br />This option agreement shall continue in full force and effect <br />as long as the lease agreement between optionors and optionee <br />is in full force and effect, and has not been terminated <br />due to default of optionee as lessee. If said lease is <br />terminated by optionors due to the default of optionee, then <br />all optionee's right, title and interest under this option <br />agreement shall also terminate. In addition, the rights <br />of the optionee under this agreement shall not be assignable <br />to any other person or entity unless the optionee has also <br />assigned to such person or entity all its right, title and <br />interest in the lease agreement. The assignment of this <br />option shall be subject to the same consent and approval <br />as required in the lease agreement. <br />7. TITLE: Title to the subject property at the <br />close of escrow shall be delivered from optionors to optionee <br />subject only to the liens, encumbrances, covenants, conditions <br />and restrictions of record at the date of the execution of <br />the lease, and such liens or exceptions to title as may be <br />created by, or the result of the actions of optionee after <br />the date of the execution hereof. <br />8. MISCELLANEOUS: <br />8.1. Time is of the essence of this agreement <br />and each and every provision thereof. <br />4. <br />L J <br />
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