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policy of extended coverage insurance issued by State Farm,
ii being policy number 98-00-0665, effective October 17, 1978,
through October 17, 1979, which has been made available to
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the Lessee for review. Lessor agrees to renew this policy i
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for an additional one year term upon its expiration on October ~
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i~ 17, 1979, and will be responsible for the payment of the
remium. The
p parties agree to share the expense_of the premium j s
for the extended renewed term by pro-rating the cost of the
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premium and using the date of closing as defined in the option
II to purchase as the date of proration. The Lessor, as Seller,
will be given a credit at the time of closing for the amount
~ of the premium for the renewed term covering that period of
time of the unexpired term which falls after the date of closing.
The Lessor agrees that the Lessee shall be named as co-insured
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on all policies of extended coverage or liability insurance
I held~by Lessor and shall be entitled to a certificate from the
insurer showing said coverage to be in effect. Lessor'shall
maintain in force fire, casualty and extended coverage insurance
naming Lessor as insured, insuring the demised structure and
the Lessee shall be named as co-insured to the extent of its
interest in the property and shall be entitled to a certificate
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from the insurer showing said coverage to be in effect. Lessee
shall be responsible for the insuring of its furniture, furnish-
ings, equipment, leasehold improvements or other personal
s ~ property against damage due to fire, water or other hazard and
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the Lessor shall in no way be held responsible for such damage. s
The parties agree that they will share equally any loss sus-
~ j tained as a result of vandalism to the premises, not covered
~ by any policy of insurance; this does not cover any damage by
vandalism to the personal ro ert of the Lessee.
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10. OPTION TO PURCHASE. Lessor hereby gives the Lessee
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the right and option to purchase the demised premises and all
structures and improvements thereon for the sum of NINETY
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y SEVEN THOUSAND FIVE HUNDRED AND NO/100 ($97,500.00) DOLLARS,
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