HomeMy WebLinkAbout0863 Lessee setting forth~-the sale price, ter~s and conditions thereof, .
and the Lessee ahaii have 30-d~ya from the date of said notice
within which to elect to purchase said property, upon the terms
and conditiona stated by Lessor and to enter into a written
coatract to purchase same. In the event Lessee shaii not enter
into such written contract within 30 daqs, then the option herebq -
grauted, shall terminate,:~and shall be nu11, void, ~tnd of no
~ ~urther force_ and effect.
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Lessee is hereby givea the right.to make such structural
alterations or additiona to fihe buiiding to be constructed upon
~he premises, and to extend and enlarge same so long as such ai~er-
ations or additions shall be in keeping with the general architec-
tural platnning of the building to be constructed by Lessor, and
shail be of good material and workmanship of the same quality and
kind ~a:s' used by Lessor in~constructing the building obligated by
them to be coastructed. ' ~
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Simultaneously, with the execution of this Lease, Lessee shall
deposit with Lessor the sum of $25,000.00 in cash or securities
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` satisfactory to the Lessor of the value of $25,000.00, which shall
, be and constitute security and guuar~tqfor the payment of rentai, and
_ rental considerations provided for in this Lease, and also for the
. faithful performance by the, L-essee of all of the terms, conditions
and covenanta and agreemeats, contained in this Lease on the patt
of the Lessee to be kept and performed. The parties hereto expressly
covenant and agree wi#h referen~e ~o $~id securities, as follows:
(a) -If the Lease is cancelled for defauit of the Lessee, then
~o part of the security shall be refiurned bq the Lesaor unto the
Leasee, nor sha11 the Lessor be bouad to account uQto the Lessee
for any part ~f the securitq fund. ~
(b) If the Lease is canceiled fQs dtfsuit of the Lessee, and
s4eh cancellation ia ,ac~ampanied by. either surrender of pogsession
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