HomeMy WebLinkAbout1969 enjoyment of the premisea herein described.
8. No substnr~tial cha~ge or alteration Nill be made by the
lessee of the pren~ises M~ithout first submitting plau~s to the lessor
and obtafning written approval ~nd ths lessee doee have the right
to Flace a large siqn on the property deecribed herein identifyfng
said property as the lessee sh all deaire.
OPTIpN TO PURCHASE
At any time during the term of this lease; the 2essee may
execute an option to purchase the above described property on the
b llowing terms and conditions:
1. The total purchase Frice will be FIFTY-FIV~ THOUSAND and
t
d
00/100ths ($55,000.00) DOLLARS and aIl paymen~s made under this
Zease agreement up to the time this optfon is exercised shall be
applied to said purchase price.
2. The lessee shall secure a firat mortgage on the above
described progerty, the proceeds of which will be payable to the
lessor or its designated assignee. This mortgage will be for the
maximtur. amount which can be secured as a loan on the above descr~bed
property at the time that the option is exeECised and this sum shall
be agplied to the balance due on the purchase price. It at the time -
the option is exercised and the above 2oan is secured, there are
still sums due to the lessor on said putchase price, the lessor will
take back a second mortgage for the unpaid balance with interest at
at~.~he rate of six per cent (6$) per annum, eaid second mortgage to
run for the same period as the first mortgaqe ~rt31 run and there will
be no paymenta due on the second mortgaqe for a period of one_year
from the date of clo~inq and payments thereafter shall be ma11e in
equal mo thly installmen~ s.~fl~/hP~/~s ~U e-s~1 ~~~t~'~/uV e/~P'~'e Y~,.
f} s~~ e/~ A s~o,pi.vc yoi~/. ~
3. LeBSee shall have the right to prepa~r any and all $ume ~
~
due under said mortqagea without penalty.
4. At the time said option to purcHase is'exercised, safd
lessor shall furniah a good and sufficient warranty deed so as to
convey to the lessee a merchantable fee simpl~ titZe free and clear
° 213 ~a~E 19fi6 -3
- b00K -
~
.
I~10~~? r4t,E 14~5
. _
~.,:a~ _ . _ -
~ . .
~:5.... ''t"' ~,*5'.'.+i'"Fr..e..