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I~SASS AGR$8MI3NT - Page 12. ~
In order to exercise the foreqoiaq option to pur-
chase, the LESS$E shall qfve notice by Certified Mail
or written notice in person to the LSSSOR of such in-
tention, at~least by the fifty-fourth (54thj month of
this lease, and shall request the LSSSOR to execute and _
deliver a full covenant and Warranty Deed to the premises
. and improvements in favor of the 7,$SSBE, and, if requeated,
the LSSSOR will also execute a written assignment of the ~
LESSOR'S interest in this lease to the LSSS$S'S nominee, ,
or a cancellation of this lease. Said notice shall be
accompanied by an earnest money deposit check of S$VENTY-
_ FIVS HUNDRED DOLLARS ($7,500.00) made payable to I,$SSOR.
Within ten days of the receipt of said notice and said
check, LI3SSOR shall furnisli LESSB~ a c~nplete Abstract of
Title covering the demised premises. Should the title k
be found marketable and/or insurable, LESSSS shall pay
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the balance of the pur'chase money to LSSSOR, in exchange
for a duly executed Warranty Deec1 from LESSOR, within +
twenty days of the delivery-of the Abstract of Title to
LSSSEE. Should title not be found marketable or insurable, ~
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" I.$SSBE shall immaediately ca~use the title deficiencies to f
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be listed and subanitted in writinq to LSSSOR, whereupon,
I,$SSOR shall have ninety days in which to rectify any such
title deficiencies. Should the deficiencies be removed
within the period stated above, the sale shall be conswnated
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~ by the exchange of the purchase money for a duly executed ~
Warranty Deed. In any event, ad valorum real estate taxes
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for the year of closing and the insurance pre~nium on the _ ~
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policy carried by LSSSOR shall be prorated as of the date ~
of closing.
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