HomeMy WebLinkAbout2253 shall provide that the subtenants or the sublessees shall do
nothing which would constitute a violation of any of the terms ;
of this lease. It is understood and agreed that forfeiture or }
termination of this lease shall automatically effect a for- ~
feiture and termination of all subleases; provided that any
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subleasing shall not relieve the Lessee or its assigns from ~
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any obligation under this lease. ~
23. LESSEE'S OPTION TO PURCHASE. The Lessor hereby
grants to Lessee the right and option to purchase the leased .
premises at any time during the tenth year of this lease upon
the following conditions:
(a) The option to purchase shall be exercised by ~
written notice to Lessor, said notice to be given during
the tenth year of this lease. If the option is not exercised
prior to the expiration of the tenth year of this lease same
shall expire and the Lessee shall have no further option to E
purchase the leased premises pursuant to the provisions of
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this article. If this lease is terminated for any reason
E prior to the expiration of the tenth year of this lease,
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~ then the purchase option herein granted shall expire •
contemporaneously with the termination of the lease. ;
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(b) Upon the exercise of the option to purchase
granted Lessee under this article the purchase price shall
be the greater of the following amounts:
(i) The sum of $258,500.00; or '
(ii) A sum of money which is equivalent to
- the purchasing pow~r of $235,000.00 as of the month of
January, 19~2. In ~arriving at the amount which is
~ equivalent to the purchasing power of ~235,000.00 as
- of the month of January, 1972, the sum of $235,000.00
~ shall be multiplied by the average index number of
~ retail commodity prices for the month of January last
~ preceding the month in which the purchase option is
~ exercised and dividing the result by the index number
~ for the month of January, 1972. The index numbers to
~ be employed are the index numbers of retail commodity
prices designated "Consumer Prices Index - All Items ~
(1967 = 100)" '
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