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201008237 ARTICLE XIV Default 14.1 Lessee agrees to pay the rent, withaut demand, on the terms and conditions hereinabove set forth and perform all of Lessee's obligations under this L�ase with Purchase Option, and, in the event Lessee shall default, or fail to perform all of the obligations required under the terms of this Lease with Purchase Option, and such default ar failure to perfortn continues for fifteen (15) days after written notice from Lessar to Lessee setting farth with specificity the default or failure to perform, Lessor may, in addition to ather remedies provided by law and otherwise herein set forth: (a) Terminate th.is Lease with Purchase Option; (b) Re-enter the premises; or (c) Upon termination of the Lease with Purchase Option during the initial lease terrn, or any extended lease term, relet the premises for the Lessee's account, but the Lessor shall not be obligated to relet the premises. 14.2 No waiver of any condition or covenant of this Lease with Purchase Option by Lessor shall be deemed to imply or constitute a further waiver by Lessor or any other condition or covenant under this lease. The rights and remedies created by this Lease with Purchase Option are curnulative, and the use af one remedy shall not be taken ta exclude or waive the right to the use of another. ARTICLE XV Purchase Option 15.1 Lessor hereby grants to Lessee the option to purchase the leased premises at any time after May 1, 2014, so lang as this lease is still in effect, for the consideration and upon the terms and conditions hereinafter set forth. 15.2 The election of the Lessee to exercise this purchase option must be evidenced by a natice in writing addressed to the Lessor, and sent as provide in Section 16.2 hereunder. If'the Less�e elects to exercise the aption, the closing shall be on or befare saxty (60) days after the date of the notice of the exercise of such option. 15.3 The purchase price of the leased premises shall be TWO HUNDRED NINETY- FIVE THOUSAND and NO/100 DOLLARS ($295,000.00). The purchase price shall be payable in cash or certified funds from Lessee to Lessor at closing. 15.4 In the event that Lessee shall give Lessor notice of the exercise of the option to purchase, the underlying lease terms of this agreement shall continue until the date of closing, and, in the event a monthly payment for rent under the terms of this agreement shall be due and payable prior to the date set for closing, such rent shall be prorated to the date of closing. 15.5 At the closing, the leased premises shall be conveyed by Lessor to Lessee free and clear of any rnartgage or other encumbrance, and the transfer by Lessor to Lessee shall be by satisfactory warranty deed. 7