HomeMy WebLinkAbout0486 term, Lessees shall surrender the premises in as good state and condi-
tion as they were at the conunencement of this Lease, reasonable use and
wear thereof and damages by the elements excepted.
17. DEFAULT. If Lessees fail to comply wizh any of the
material provisions of Chis Lease, other than the covenant to pay rent,
or of any present rules and regulations or any that may be hereafter
prescribed by Lessors, or materially fails to comply with any duties ~
imposed on Lessees by statute, within seven (7) days after delivery of
written notice by Lessors specifying the noncompliance and ind~cating ~
the intention of Lessors to terminate the Lease by reason thereof,
Lessors may terminate Che Lease.
If Lessees fail to pay rent when due and the default
continues for three (3) days after delivery of written demand by -
Lessors for payment of the rent or possession of the premises,-
Lessors may terminate the Lease:
18. ABANDOiJMENT. If at any time during the term of this
Lease Lessees abandon the premises or any part thereof, Lessors may,
at their option, obtain possession of the premises in the manner
provided by law, and without becoming liable to Lessees for damages
or for any payment of any kind whatever. Lessors may, at their
discretion, as agents for Lessees, relet the premises, or any part
thereof, for the whole or any part of the then unexpired term, and
may receive and collect alI rent payable by virtue of such reletting,
and, at Lessors' option, hold Lessees liable for any difference
between the rent that would have been payable under this Lease during
the balance of the unexpired term, if this Lease had continued in
force, and the net rent for such period realized by Lessors by means
of such reletting. If Lessors' right of re-entry is exercised
folZowing abandonment of the premises by Lessees, then Lessors may
consider any personal property belonging to Lessees and left on the
premises to also have been abandoned, in which case Lessors may
dispose of aIl such personal property in any manner Lessors shall
k
deem proper and is hereby relieved of all liability for doing so.
19. OPTION. Lessors hereby grant to Lessees an option to
buy the leased premises at any time the Lessees may elect before May
15, I979 at a price of Eighty Thousand Dollars ($80,000.00). The
SelZers shal~ carry a wraparound mortgage for an amount not to exceed
Seventy Thousand Dollars ($70,000.00) amortized over a eriod of
~y~ ~ 2~s ~ ~e~
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