HomeMy WebLinkAbout1755 is not made prior to April lst of the year subsequent to the assessment of real
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estate taxes, then Lessor will be entitled to all rights reflected in paraqraph
4 of this lease.
10. The Lessee will, at its own expense, during the t~m of this
lease, carry public liability insurance in the amount of $100, 000. 00/S300, 000. 00,
providing for any neqlfqence of the I.essee in the use of the premises hereinabove
described. Said insurance shall include coverage therein of the Lessor at ii~e-
expense of the Lessee and Lessee will fwrnish proper evidence to the Lessor that
such insurance fs being no maintained.
ll. In oonsideration of the execution of this lease, the Lessor
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hereby extends an option to the Lessee to purchase the above-described prop-
eriy at an~ time durinq the term of this lease for an aqreed purchase price of
THIRTY-FIVE THOUSAND AND NO/100 ($35, 000. 00) DOLLARS. The Lessee can
exercise this option at any time durinq the term of this lease by qiving the Les-
E sor thirty (30) days written notice of its intention to exercise said option. In
event the option is exercised, the Lessee must pay to the Lessor the sum of
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FIVE THOUSAND AND NO/100 ($5, 000.00) cash, with the principal balance of
F THIRTY THOUSAND AND NO/100 ($30, 000. 00) to be represented by a purchase
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~ money mortgaqe and promissory note in the forms ordinarily utilized in St. Lucie
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County, Florida. Said morbgaqe and note will provide for 140 equal monthly
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payments of TWO HUNDRED rTINETY-EIGHT AND 47/100 (S298.47) each, which -
includes interest at the rate of six per cent (696) per annum, the first monthly
payment to be due and payable one month after date of closing . It is specific-
ally understood that no payments under this lease will be included as a part of
the purchase price or down payment, in event the option is exercised. It is
further understood and agreed that said option to purchase can be exercised not
only by the Lessee, but by HERBERT J. FEIBII.MAN or his wife, VIOLET FEIBEL-
MAN.
Page 4.
FEIBELMAN. FIlIEDMAN. HYMAN t ~R17TON
22d N. E. 2wo Avurus, M~wrl. Rowww
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