HomeMy WebLinkAbout1364 ~age 11
ARTICLE XV. (continued)
The provisions of this Article shall be construed to be
solely f or the benefit of Lessee and to be additional to, indepenuent
of, and shall in noWise affect the existence af, any or all other
privileges, optians or rights of purchase contaa.ned in this lease.
If Lessee sha11 elect to purchase said premises under the
opt~ion hereby grar_ted, Lessor shall comply with the requ~.rements
tr.e next succeeding Article.
ARTIC LE X1lI .
COT~TVEY~ICE RE~,UIR~~~v~~ :
The giving t~y Lessee oi' notiee o~ the exercis~ o~' any purw
chase aptior~ hereinbefore granted sha11 fix ~nd determine ~he right
of Lessee to purchase the property included in ~he option which Ixssee
elects to exercise, ~nd the obligation of Lessor to sell the same.
Lessor shall furmish, free of exFense to Lessee, wi~hin fifteen (15)
days after the receipt of said notice, a complete Abstract of. Title
certif ied from ti tIe in t~e Government, prepared and iss ued by a
financially responsible titile abstract company, ahoxing fe~ simple
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an e as ement9
tx~le ~.n sa~d premzses and appur~enances, including y
granted hereunder, in Lessc~r as af a date not earlier than the d~.te o~
said notice, or a Title Guarantee Policy Rithaut exception objectionable
to Les~ee, issued b~r a financially responsible title i.nsurance company,
acceptable to Lessee. If an abstract is furnished, a reasonable time
rvill be allowed Lessee to examine s~ach abstract. If the abstract or
interim title binder does not shoR fee simple title ir_ I,~ssor, a re~s on-
able time ~i11 be allowed Lessor to cure defects and cl.ear the ~itle
preparatory to del.ivery of deed an~. any other instruments required to
e~f ect the transf ~r and c onveyancs .
Upon acceptance by Lessee s~id titls and payment ta Lessor
of the purchas e price he re in s pecif ied, Les s or sha11 c onvey ta Les s e e,
or its nominee, by Gen~ral !Narranty Deed, a fee simple title in and to
said real estate ar_d the ap~urtenances thereunto belonging together ~ith
any perpetual e~sements in adjoinin~ or ~djacent land necessary fox~ the
installation, maintenance, operation and use of seRer, waterg ~aa, po~rer
and other utility lines and for drive~ee.~s a:~d approaches for the use
and benefit of the above described parcel o~ real estate, free and clear
og a11 lien~, encumbrances, and charges of ~h~taoe~er character, ~ith
r~lea.se of do~er, curtesy, homestead, and sll statutory rights; and ahal~.
also deliver to Lessee, free of expense to Lessee, such ~bstra.ct or
Title Gu~r~ntee Polic~, shoRing fee simple title to said premises in
Lessor ~t the time of delivery o~ deed. Payment hereunder may be made
by Lessee tendering its check, dr~ft or voucher in the amount of the
purchase price, and if there be more than one Les~or, tender to ~ny
Lessnr shall constitute tendeP to all.
Ip any personal propPrt shall b~ i~cluded in the option,
Lessar shall furtz~sh evidence, sa~isfactor~ to Lessee, of L,essor's oxner-
ship thereof, and shall. convey the same by Bill of Sale rrith ful~
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c oven~nts of warr~nty . .,~,,,Y ~
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