HomeMy WebLinkAbout1874 out and psriorm iia th~ msaoer her~in Nt iorth aqq oi the other cov~nant~
aad coadition~ oi thi~ lea~t.
8. Le~~~e ot it~ espeas~, ~hall carry lirt aad e:tended aownQe
insunnce oa tl~o demised premisea to the full r~placem+ent valw th~reoi.
Les~e~ at it~ ~spenN ~halt also analata~ in force public 1Lbility Ltuuraace
namio~ Lea4ae a~d Le~sor~ aa in~ur~d~, in •~mm ~ot l~o• than =500, 000. 00
ior aqy one accLdent and not less tban ;100, 000. 00 for aqy ln~ury to a sinale
p~r~on. All policiso oi lnsnnace aaaiiut los~ by fire or other ca~wlty ~hsll
be ,m4de payable ia eate of lo~r to Lassor~ tod Less~ a• their iaterests
may sppear. Les~ee ~hall provide Leooor~ copiRS of said polici~ea.
8. In the event oi damaQe to or deatractloa oi the prenni~ea durin~
ttie term oi this lease, th~ L~s~ee shall be obliQated to repsir or replace
the same ~rithin a r~asonable time and ehall be entitled to apply the proceed~
oi aqy casnalty tn~uraaee co`nrin~ ~ueh dams~~ or de~tructi~on to ~ueh purpose.
10. Ii Les~e~ ahall pertorm all and sia~ular the covenant• bereia
imposed npon it. Leasors ~rill warnnt and defead Le~see in the eq~oym~ent
; and peaceinl posseesLon ot the pr~miuee dnrinQ th~ term hereot. ~
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~ 11. Le~sora Qive and ~rsnt to Leseec, the Lessee not bein~ in defanlt
~ undsr any oi the tQrms hereot, !he ezclaaive riQht and option to purch4ae tbe
abo~~-de~crtbed premiaeo, includia~ the persoaal property de~cribed in
E~chibit A at t6e espiratioo of the term oi thi~ lease for a purct~a~e price of
~7, l00. DO cash. 3aid option may be ezerci~ed by Lestee giving writt~n o~ice
ther~oi to Le~sora at a=p? tim~ within ninety (90~ days pripr to the expiration oi thia
l~aat or witbin filte~n (15) dar~ th~reafter. In the ~~eat oi tbe ezercise of this
optf~oa, tbe traasaction ~hall bs eloa~d oa or betore Februar~ Z0, 1879. at the
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~ oitic~s of I.~~~ee. pro~idsd, howe~er, if Les~s~'s es~mination oi title prior to
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~ clo~ins ~Lall reo~al tbat Leoeors an not ve~ted witb good and marlc~table title
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to the abo~?e-de~crfbed pr~mi~e+~, then the time for clo,in~ sh4ll be eztended
ior a r~a~onable p~rf~od to •nabl~ Les~or~ to c1ear the title to said property
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