HomeMy WebLinkAbout0130the Seller's interest in the subject real and personal
property subject only to those matters to which title
was subject when obtained by the Seller, the leases and
such other matters as may have been caused or as may
have arisen other than through the acts of the Seller,
and/or said sole beneficiary. The options granted here-
in shall not be affected by the termination of the Lease
for reasons other than any default by the Tenants or their
assignees.
4. In the event Buyer exercises the option for _. _
Tract No. 1 without exercising the options
for Tracts Nos. 2 and 3 at the. same time, Buyer shall,
at the time of the exercise of the option for Tract No.
1, make an additional security deposit by certified
check, cashier's check or money order in an amount
equal to thirteen and one-third per cent (13-1/396) of
• the base price applicable to Tract No. 1. In the event
• ~ Buyer exercises the option for Tract No. 2 without exer-
" ~ cising the option for Tract No. 3 at the same time,
Buyer shall, at the time of the exercise of the option
for Tract No. 2, make an additional security deposit
by certified check, cashier's check or money order
- equal to thirteen and one-third per cent (13-1/396) of
'' the base price applicable to Tract No. 2. T'he adds-
= tional security deposits made pursuant to the foregoing
provisions shall be applied to the purchase price of
Tract No. 3 if the purchase thereof is consummated as
. herein provided, retained by the Seller if Buyer does not
elect to .exercise the option for Tract No. 3 or if
Buyer's purchase of Tract No. 3 is not consummated at no
fault of Seller, and returned to Buyer if Seller is
unable to consummate the sale to Buyer of Tract No. 3.
-Until said additional security deposits are disbursed
in accordance with the foregoing provisions, Seller
• will hold the same as security deposits in a special
savings account or in United States Treasury Bills, or
in both, or in such other manner as Buyer shall approve
.in writing; all income earned on said security deposits
• shall belong to Seller. Seller shall be deemed to be
~. unable to consummate the sale of Tract No. 3, and shall
be obligated to return the additional security"deposits
„ as aforesaid,"in the event Seller is unable to deliver
" title to said tract to Buyer, in accordance with the
aforesaid terms and conditions. It is expressly agreed
-4- 800K 179 P~c~ X30
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