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HomeMy WebLinkAbout0613 In the event the ptoatilsory note referred to In hero oph 26 Mhof Is paid in full prior to the expirotion of the originol term hereof, then such final payment shall ipso facto effect on assignment by Lessor to lessee of all rentals due and payable or to become due and payable to Lessor by Lessee under this (ease during the remaining portion of the original term hereof. The rentals so ossipned shall be applied by Lessee os against rentals poyoble or to become due and poyoble to Lessee by Lessor under the Sub-Lease Agreement above referred to. - In the event Lessee exercises its option to •:tend the term hereof os provided in Paragraph 2 hereof, and the Lessor, os lessee in the Sub-Lease Agreement above referred to, elects to extend the tenet thereof os provided in said Sub-Dose Agreement then of such time the exercise of such option by Lessee and Lessor, respectively, shall ipso facto effect on assignment 6y Lessor to Lessee of all rentals due and payable a to become due and poyoble to Lessor by Lessee under this lease during the extended term. The re tole so assigned shall M applied by Lessee os against rentals poyoble or to become dw and poyobl• to Lessee by Lessor under the Sub•Lease Agreement above referred to. /sad Jea>as K. Gbftey, Joseph 8-. ~ sad Joe H. Efl<tcmaa ' 22. to the went that the promissory note referred to in Paragraph 26 herwl becomes fully paid and discharged prior to the expirotion of the onyyinol term hereof, this lease shall be considered in an extended term for the purpose of construing Paragraphs 6 and 7 hereof (or the duration of the originol term hereof. 23. Any notices under or inquiries regarding this lease shall be delivered to Lessor of ~ 20tr~1 P18ces, Vero BEfiR!11~ ~'~-m'i~a ~.~ ,and to Lessee of 200 Eost Golf Road, Palatine, Illinois, Attention; Reol Estate Monoger, or such other address os the parties may from time to time designate in writing. Notice may be gtwn by ngtstered mail or certified moil, and In such event the dote of service shall be the dote on which the notice is deposited in o United States Post Office, properly stomped and addressed. 24. It is expressly understood and agreed by and between Lessor and Lessefi that there is no verbal understanding or agreement which in any way changes tht terms, covenants and conditions herein set forth; end further, that this lease shall not be binding upon Lesse• unless executed by o duly authorized officer a agent of Lessee. 25. In the event shot thi originol term hereof is extended by reason of the provisions of ParagrapPh 7 hereof, then the options for extended terms provided for in Paragraph 2 hereof shall be exercisable at least thir~ (30) days prior to the termination of the original term ns so extended and if the option is exercised the extended term sho I commence on the day next following the termination of the onQinol term as so extended. In the event the current term hereof is extended by reason of the provisions of Paragraph 11 hereof, the option for extended terms provided for in Pora~~raph 2 hereof shall be exercisable of least thirty (30) dogs prior to the termination of the current term es so extended and if tM option is exercised the extended term sftoll commence on the da next following the termination of the current term os so extended. %Sad James N. Cot'Pey, ~TOf~eph $. Barmsn~ sad .,Tae H. ~armf~n 26. Lessor, in consideration of the payment to be mode to Lessor pan final delivery on behalf of the Lessor of a certain promissory note in the face amount of.~IQ ~~ N~rigtV-t~ia Thousand Four Hrmdred Trtenti-- Nineaad80/100-------------------- 9Q~ 9 - Dollars (S.2 ~ •~ ) including interest anticipated over the period of the note, hereby grants, assigns, transfers and sets over to (!rn~tfinmrttxl Illinois National Bank sad Trust CCmp8ay of Chicago - - - - - 'its successors and assigns, having o place of business at ~C~Ott Il,1.in+DiB , hereinafter called the "Bonk," out of the installments of rental due and to become due under this lease, the sum of .One Thaussnd Six ~itIDdred Twenty-f~aur sad 61/100 - - - - - - - - - - - - - - - - - - -Dollars (S 1,,624.61 )per month until the entve amount of the said note, together with interest, if any, which may accrue after maturity, has been paid, and the Lessor irrevocably authorizes and directs the Lessee to pay the rentals hereinobove assigned to the fSonk of its sold place of business, and the Bonk to collect said rentals and apply the some upon that certain indebtedness owing from the Lessor to the Bonk, as evidenced by the sold promissory note.'Nothing herein contained, nor any action token hereunder, is intended a shall be construed to cho rise tM leased premises os being in the possession a under the control of the Bonk in any manner whatsoever. TJti`-4eisee hereby acknowledges notice of the within Assignment of Rentals to the Bonk. _~tfttStSil1{//ir,_ IN N-ITNESS WHEREOF, the parties hereto have caused the dw execution hereof on the day M`~~•7M~~~~C' ~~~ written. j• ~.~' ~: G^ ~.,_ (Lessor) ' J ~-~ ~ , J C'7 '~J -...;~~ S~ .._ 8 ~~ ~- T ESSE S TO F.ARMAN OIL CO INCe = r' bQ' ~S~Af.):',, ;y . :- ~r ~~ (j1~-~.)~ _t3 V_ Ce~'ltav_ Pre ''~':..~.•.- / • ~.. (SEAL) (SEAL) ecr '69 (SEAL) (BEAU (Lessee) WITNESSES AS TO LESSEE: Pure Oil Division 6 Union Oil Company,of California f2. 7. rriu.Ea~us er FORM Union Oif Company af'~p1i . - 3` .••~ "rte°~'`~ ©~,'i, 7- ~ ~ ~ .. -' -'l .r erg.. -~;. :~'~-ry er ~ l Union mil Compony~~ - olr~prnio V • ' • r Z~ BOOK~79 PAGE 613 ~~ ~'f~~~~•••••,` ; -- ___... ~ _.._- '--...:r:._ moo'`