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- .-2. The purchase price for each of the tracts - •
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- ' , . . ~ -'by Seller, located in the improvements situated on the -
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: . - ~ tracL-s, and .~scu ir, one operation oi' the property. -
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' The purchase price for each of the tracts numbered
- f-~ 1 and 2 shall be twenty per cent (20~) of the "base • - ~ - -
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: - ~ price"; the purchase price for the tract numbered 3 ~ -
• -. '-;= shall be sixty per cent (60~) of the "base price".
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~ - , The purchase price shall be allocated to personal pro-. -
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perty to the extent of depreciated book value thereof, _~~
~- - - = •as shown on the books and records of the Seller, and
- - .: ~ the balance to the real property. "Base price" for ~ . .
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~ - each tract shall be determined at the time the option .- -
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~'•_; ~:~ ~_ ~ as exercised. for said tract ~ and shall be as follows: ~ -
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.: ~ .: - _ A. ~~ Tko Hundred Seventy--Five Thousand Dollars ~ .. _
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• _-- ~ ($275,000.00). if an option is exercised ~ °- -
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during 1970. . w
- -- '~ ~ ' • -. - . B. '-. Two Hundred Eighty Thousand Dollars - • . -
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' - ~- ~ ($2$0,000.00). if an option is exercised
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` yluring 1971. _ ~ ` -.
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--- C. Two Hundred Eighty-Five Thousand Dollars =~
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-. .- ($285,000.00) if an option is exercised ~~ -
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-:,_ - • :. during 1972:~ - -- - -: ;-
• ;~ :~ • ~ If, within ninety (90) days prior to the closing of ~.
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:- the sale of any of .the aforesaid tracts, an insured .
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- casualty loss occurs, then (a) if the damaged pro-- -
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.. perty has been restored or .repaired prior to closing, -
. . ' _ -- the option price shall not be affected; (b) if the
• •...- .~ - damaged property has nom been restored or repaired
- : -•: - -prior to closing, then the option price shall be de- ~ -
- -. - - terzined pursuant to the foregoing provisions and, at - - -
:. .the election of the Seller, shall then be reduced by
• ~ - -~.~ the anount of insurance proceeds payable to or received
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~ by Seller or shall be unreduced provided Seller ~fves
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and• assigns to Buyer all insurance .proceeds received •
. - - ' or payable. tlith the -exceptions of any rental or other
• - -- payments due the Seller, there shall be no prorations.
- •• The Sellers shall. be responsible for the normal sellers
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