HomeMy WebLinkAbout061114. In the .vent Lesse• should make any payments for the account of Lessor os herein provided, and/or Lessee should
make an payments to or for the account of Lessor pertaining to said Jeas•d premises for which Lessor is responsible, and
Lessor does not reimburse Lesse• therefor upon demand, then all such expenditures so mad. by Lessee to or for the account
of Lessor shall bear interest from the dote of such expenditure until repaid to L~ess•t of the rate of 6lfi per annum, and Lessee
shall hove the right, in addition to any other remedy, to automoticolly extend the current term of this loose, without any further
rental payments or obligations, for and during such o period of time as will absorb, of on agreed monthly rate of rental of
OII@_ Tt>ousnrid $i.Z Hlnitired 'Atmnttr-=D~ aII~ 61100 Dollars (= 1p62~_67 ) per month, any and all
suss ewin~ -y Lestor h Lessee, with interest thereon, es herein pevidad.
INITIAL MRRE:
W- IS. OP'Tialf TO PURCHASB. The Lessee herein, (la the eapadtT of "lawoe'h bw Wis ~T catered Ltto a certain
written 8nblease Apeeweat w1W the Lessor hsnla, (!n the capacity of "lewee'h ootrerla~ die premise benlnabotre
~ desalted is thls Leans Apeemeat. la comectlaa tltenwiW !t is e:prsssl[ eadentood sad speed that ll the reef or atgr
part thereat, paTabb Hader wid Snbleass Apeeateut, shall at nay Clete be fa arrears sad eapsid after the same is doe sad
parable, sad U aeeh dsEanlt U not complebiT eared bT ~tlM lessee ie w1d Sublease Apeemeat w11bM >birtT (3~ daTa after
written aotiee of sect dahnlt has beq Siva bT the lessor m wld 8ebleaae Apeemeet to the iwsae !a uid Sablewe
AQeemeat, then Pan Oll dieLlaa =Ualoa Oli CotapattT of Glifotnia, !b entxaasas sad assign, (the
Lessee la tltls Lease Apeemsat) shall have the ~ and opUoa at ~T tLse ther+attar duriat the term of hb Lease Apee-
ment, of aaT e:teasiaa 6ersot, to pncbase the leased pee>ises heraLtabot» dsacMbed, top-Iber wltb all baildiapr strnc-
tures, impronemeats, titrtnres, equipment, erachiseeT and appiLacea sltwled thereon and facleded b tltia Lease Apeeateat,
at and for • cash caasideratloa o[ 'ltil0 ~ Se"Y~eII 'thOUeaAd Sid[ ~~~ Ste' Slid NO~100 - -
- - - - - - - - - - - - ~ - - - - - -Dollars (_ ~f~•~ ), less as amomt tar the depnciaUoa at
We raN of toot per coat (4R) per aaswr ao F~-Six 01'1@ ~itln ~d NQ~ AA -
- - - - - - - - - - - - - - -Dollars (_ ~p~•~ ), the speed value of aU lmpot-emeeta aatr o0 or
to be eaastincted or iastaUed on the teased premUea, computed tar Ibe period frost sad after 16e date d this Vase Apee-
moot ap to fbe data oa which Leaeee aotitles iwssor of the e:erclae of snob option; provided, however, sect depreciation
shall not be caatpnted for a pedod lower than tea (10) wars.
In event twee eserclees snob optiao, Wen Lessee shall d~ Lessor wrlttea notice thereat. b event Lessee ptecbases
the lased pnmisee, they all tares end aseesameob theteaa for the certeat tatuble Tear shall be prorated to Wedaleoq.
which Lsssee aotitles Lessor of the e:etcise d sect opUaa. b event • a part of the Nosed p»atUea la coadeiaed, the
aawmt of damap-s awarded to Lesse b caosegeence Wenot shall be deducted from the potcbwe price epos etterclse
o[ tbU option bT IAasee. llotwitltstaadin~ ear champ b the ownership of the leased premises, or the death ar (aiwbWtT,
of Lessor, Lsaa's notice of electioe to ptrrchwe ebaU be sutilcient l< tleposited~ le rite mall addressed to the Lessor
named herein, at the addtew benWaRer shown, sod sndr aoUce shall be bladlab as the bein. devfsees, a:acetas, ad-
esiaUtntors, snceessoea, pantees sod assips of Lessor.
ao~179 ~ 611
EOP.113105.701 366 _