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~ : ~ ~~'` ~ 201000241 ~`_ - 4... .EASE A~I~EEIVIENT VV'ITH ®PTI~IN T® {PI~RCHASE READ, ~S7";A,T . Tfa'is .ease%Option Agreement is made and entered into this d3 day of ~urc~„ C~ by and` between P~ f hereinafter referr~$ to as Landlord/Seller, and _ ~~ ~~~~~ ~ ~~ and assigns, hereinafter referred to as 7"enantll3uyer. In consideration of the payment of rent, the obligation of Tenant/Buyer to perform all minor repairs and maintenance during the term of this Lease Agreement, and the mutual understandings concerning the promises and covenants contained herein, the parties hereby agree as follows: together with all improvements and appurtenances, hereinafter referred to as the Property, and including the following personal property: __~l_ rc~ ~ 1 ~r ~ ~`° ~ cccn- c~ ~~r- 2. L~ Term. The term ofi this Lease/Option shall be far a period of ~_ months, beginning on ~~ a ~ .and ending on ~c,~1-~„/„~Q. l~he initial term of this Lease/Option may ,be extend d by 1"e ant/Buyer far ~_ addition period(s) of the same number of months at the sole discretion";of '' Tenant/Buyer. Written notice shall be provided to Landlord/Seller no later than 1 q days prior #o the expiration _of„a Lease period should Tenant/Buyer elect not to renew; otherwise, said terms shall renew automatically. _ 3 Ren# Payment. TenantlBuyer agrees to pay Landlord/Seller the sum of $ ~OC~ per month, beginning on . '~ r~ucakS~ D3 , mac{~ as rent for the Property during the initial term of this Lease and continuing throughout any exte sions ther ofi. All rental payments shall be due and payable an the 1st day of each month and late after the 1.0th. The sum of $ ~ of each rental payment shall be credited and applied towards the purchasr~ price of the Property if, and only if, this Option is exercised; otherwise, all monies paid shall be hereby relinquished and forfeited by Tenant/Buyer and are nonrefiundable. A late fee of ~~% or $ / 3 S _ shall apply for any rental payment received later than the 10th, and a fee of $_~~,~ shall apply for each returned chick: 4. Option To Purchase. Tenant/Buyer is granted the exclusive right to purchase the Property herein described_dt~ring the term of this Lease Agreement, and any extensions thereof, except for the exclusions listed in Paragraph 6.' ~" - 5. Purchase Price. Tenant/Buyer agrees to pay, and Landlord/Seller agrees to sell said property for the total. sum of $ 1 Cr G(3_ payable as follows: Option Consideration: $~~„ due and payable when Subtena~r is found. Additional Monies: $ ~ µ 3 i due on or before ~~~us~ ©~~z' ., 3.of ~,,~ (or when 'closing takes place) only if Option is exercised by Tenan#/Buyer. Aside from Option Consic~eration'~an Additional Monies, Tenant/Buyer agrees to pay off any loan balance(s) due at the time of the exercising of this Option: 6. Cancellation. Tenant/Buyer shall have the unqualified right to completely rescind this Agreement, and the covenants thereof, within 30 days of the date it is signed by bath parties. The fulfillment of this Lease Agreement is contingent upon Tenant/Buyer finding a suitable Subtenant/Buyer within 30 days. lJntil a suitable Subtenant/Buyer is.fourld~ #dr the Property, Landlord/Seller may continue to market the Property. Landlord/Seller may. also list the Property~with ,an ; agent providing that "Tenant/Buyer and assigns" is excluded from such listing. If Landlord/Seller produces a bond fide ' .written Offer prior to Tenant/Buyer securing aSubtenant/Buyer, this Agreement shall be canceled at LandlordfSeller`s ,:.written. request. Such request must be delivered to Tenant/Buyer along with a copy of the accepted Offer. Once a. Subtenant/Buyer is secured, Landlord/Seller loses any right to cancel. After 3D days, this Agreernerit is '; Inoncancellable by either party (except as noted in Paragraph 13). Tenant/Buyer must notify Landlord/Seller in. writing of any intent to rescind this Agreement. 7. Encumbrances. Landlord/Seller warrants that the total of all liens, whether of public record or not, are as ~follows_ (A) A first mortgage in favor of c ~~~ ,,.,, in the approximate amount of $~ ~ ~~ , tto (B) A secn~nd mortgage in f vnr f ~ ~ , - '/~.,~'' ~~ in the approximate amount of $ .~ (C) Other; N~ NOTE: ALL LE I]ERS AND'TIiaR~_ PARTIES ARE HEREBY PUT ON NOTICE AND DULY WARNEC7 THAT ANY MORTGAGES, LIENS, OR Lll?~'IONS OCCURRING SUBSEQUENT TO THE DATE OF THIS LEASE/OPTION AGREEMENT ARE HEREBY DECLARE17' BY LANDLORb/SELLER TO BE NULL AND VOID AND OF NO LEGAL FORCE AND EFFECT. A C0P1C C?F TNIS Y Property Description. Landlord/Seller agrees to lease and Tenant/Buyer agrees to rent the real estate located at