HomeMy WebLinkAbout1362
i
Pa~e 9
AFTICLE XIII
EXTENS ~~N OPTI(~N:
For the considerations herein named, Lessor ~ives and ~rants
to Lessee the exclus ive option ar.d nrivi lege of ex~enc~ in~ the term of
~his lease for FIV~ ( 5) yea~~s be~inning at the expira~ion o.f
the ori~;inal term~~reof ,
provided Lessee sha11 notify Lessor of Lessee's
exerc ise of such opti on at any t ime durin~ s aid nriginal ~erm. tlpon the
givin~ of such notice, this lease sh~ll be extended, and shall cor.tinue
in fuil f~rce ancl effect, wi t}~ all of the agreements, obligat~ ans, con-
ditic~n:;, arid covenants ~1P.PE'iY~ set forth, for and during sai~ extPnaec~
term of years; and the execution by the partiss of ~ new lease or an
instrument of any kind, extending the term of thi~ lease in accordance
with such notice shall not be reauired• in t:.~ event Lessee exercises the ex-
tQnsion aption herei:~ ~rar~ted, the ren~al ~_~zrin~= sai~~ exten1ed term sh~11 be
"Ix ~:t1.~;~~~:~.;~ FI~~`i~' r~;~ ±:G/1c~~~:~A:~~~~Ix (~;~65400~` ) DGLL:~:~S ner month.
~ 1,. _
I'~t~-'~N :
' . . -~e3°`e~~~.~.~.~....._
grant9 unto Lessee fer and during the full period comprisin~ the
ini 'al or any extended ter~m of this leasa the continu~n~ and indefeasi-
b1e op ' on of purchas in~ the demis ed premis es, hereditaments and appurte-
nances, clu~in~ a11, if ar~y, of Lessor's improvements and property
thereon whE her real, persorial or mixed, free and clear of any and all
liens and enc~nbrances o~' any kind or t18.t11I'@ xhatsaever, for the sum of
( ) dollars in cash.
~s op ion may exercisP~a
a~ny
~'ime during said reriod by notice
from Lessee to Lesso~ anc~ the ~ivin~ b,q Tessee of notice of the ex~rc~se
of this option shall fr~x and determine as of the ~ate ~f s~rvice of su~h
notice the obligation of `~es5ee to purchase th~ demised premises and the
obligation of Lessor t+~ seT~~, and ronvey the same for the sum hereinabove
specified. This option ah~ll ~~on.~titute a covenant running with the land
throughout th~e period above spe~~fied and sha11 be construed to be solely
for the benefit of Lessee and to 'f~a additional to and independent oF ar~y
and aIl other privilegea, options o~'-~urchase and rights or options of
refusal contained in this lease. Pleith~r the fact that LesseQ may hav~,
at any time, or fror~ time to time, x~efus~e~. or failed to purchase the de-
mised pre~r~ses under or pursuant ito any pura~iase refusal op~ion in this
lease contained, whe~her or not Lessor shall ?ra.,ve sold the premises to
~ny third party at a greater or 1es~er priae th~A, the ~ption price
specified ~bove in this Article, nor any other fac~. act or nP~lect to
act shall be sffective to defeat Lessee's ri~ht of ~chasing th~ damis~d
premises from the present, or any subsequent, Lessor ~~~-.the option price,
and under the terms, stated in this Article. tlpon LesgPP's giving such
notice, Lessor sh~ll camply with the requirements of the se~Qn~~ sacceeding
l~rticle entitled "Conveyance Rec~uirsments."
Upon Lessee's givin~ ~notice of its exercige o.f this o~tioR, the
provisi~ns of Article XV o£ ~his lease shall be inoperative ana of ri~.,
' force or effect and any t~i~hts that Lessor may have~heretofore had sha~1
_ _ _ _ _ _
.
. . -
. : ;
J.,r~ } V