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145999
OPTION FOR FIRST REFUSAL
CHRYSLER OUTBOARD CORPOR.ATION, a Delaware corporation,
hereinafter called "Chryaler," and INDIAN RIVER MINERAL•Ss ~i~1C. ~ a
Florida corporation, hereinafter called "Indian R.iver." in consideration
of the purchase by Chrysler and the sale by Indian River of the property
deecribed in Exhibit A, and simultaneously with the closing thereof, agree:
1. If Chrysler at any time receives a bona fide offer from a third
party to purchase the property described in Exhibit A, and Ghrysler de-
sires to accept such offer, then Chrysler shall notify Indian River in
writiag giving the name and address of the offerer and the price, terms
and conditions of such offer, and Indian P.i:-Pr shall have 15 days after the
giving of such notice in which to elect to purchas~~ the property described
in Exhibit A, at either of the following prices, terms and conditions:
(a) The same price, terms and conditions that are offered
by the third party, or
(b) In cash at closing for a purchase price equal to the sum
of the purchase price that Chrysler paid to Indian River,
namely ~27, 950. 00, plus an amount equal to ninety-five
percent (95°yo) of the appraiaed value of any buildings and other
f improvemente to the land at any time by Chrysler, including
j without lunitation excavation, dredging, and bulkheading.
The conditione with respect to furnishing title evidence,
~ quality of title, examin,atioa of title, curing title defects,
cloaing, and aay other conditions shall be the same as in
the offer by the third party. The appraieed value of the
buildings and other improvements sha11 be tbe fair market
value as determined by agreement between Chrysler and
Indian River, or if no such agreement is reached betweeri them,
then by three appraisers, one of whom shall be named by
Chrysler, one of whom ahall be aamed by Indiaa River, and
the third of whom shall be named by the other two appraisers
so chosea, all of such appraisers to be members of either
The A,rnerican Society of Appraisers or The American Insti-
tute of Real ~state Appraisers, or one of their successor
orgaaizations. The costs of appraisal shall be born equally
• by Chrysler and Indian River.
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Notwithstanding the closing date apecified in the offer by the third party,
Indian River may close the purchase at any time within 90 days after giving
the notice of election to exercise its option.
~ BOOK 147 _ 566
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MtRiMON, fAwYRq, JOMNfTON, OUNwODY ~ COLE. 1600 FINiT NATIONAL oANK~sU1LDINa, MIAMI, FL01lIDA
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