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HomeMy WebLinkAbout1444 , • ,E_, - 1 • ' ~ - , f ' t ' ~ i. , ~ ' ~1 _ . _ - - - - - - _ _ _ ° . _ - - ~ R~11224 IN~~E i~~s;~ ~ - ~ Paeasnph 3 s (o) Costs, E~pe~aea axd Ta~ces. The Compan9 shall pay or cause , to be paid all oi the costa and ezpenaes in connection with the prepara- . tion and delivery of said deeds and of the filing or recording wben filed ~ and recordecl of saicl deeds, this Lease and the ~1s~ignment, and all tages and charges payable in connection with any of the furegoing or ~ the conveyance and transfer to Properties of the Leased Premisea. (d) ~iolatioKa a~d Ntasa~cea. The ezistence on the date of con- veyance as aforeeaid oi any violations or alleged violations of con- atrnetion, senitary, eafety or similar laws, ordinancea or regulations or any nnisances or alleged n~ieancea ahall not eacuse any failnre on the part of Properties to acxept title to the Leased Premises at the closing of title, and, anbjeot to the provision8 of Paragrapha 11,13,17 and 21, the Company shall not have any obligations with respect to any snch violations or alleged violationa or nnisances or alleged nnieanees ezcept , (notwithatanding that snch violations, alleged violations, nnisancea or I alleged nnieances oocnrred at or prior to aneh date) the obligations E - with reapeat thereto provided in this Lease. ; f (e) Delivery of Pro~niBSOry Notea in Lieu of Property. The Com- ~ pany hereby agreee that, if the aggregate Initial Pnrchase Price of Leased Parcels which have been conveyed to Propertiea on or prior ~ to December 15,1972, sball be less than the aggregate principal amonnt g of Notea pnrchased prior to snch date, it will, within five bnsineas days ~ thereafter, cause Contiuental to delirer to the Trnstee a promissory ~ note or notes of Continental payable to the Trastee in an aggregate n principal amonnt eqnal to ench deficiency and an opinion of connsel, each complying with this Paragraph 3(e). IIpon compliance by tLe Compauy with the provisions of this Paragraph 3(e), the Company's ~ x obligation to convey and Properties' obligation to pnrcLase Leased' . ` - Parcels pnrsuant to Paragraph 1 and this Paragraph 3 shall terminate. ~ A failnre bs the Couipany so to comply herewith shall constitnte a ~ ~ defanlt on the part of the Company heret~nder. The promissory notes ' x ~ to be delivered pursuant to this Paragraph 3(e) (herein called the ~ "Promissor~- Notes") sl?all be in snbstflntially the form get forth in ~ Appendiz F and sLall: _ ~ (i) be dated in each case (A) on the day of delivery thereof if delivered on any Map 31 or November 30, or (B) on tbe May 31 . ~ ~ i ~ r ~ £ 1 .,~,1,~~,43 u~~u ~EC,uF;u~ ` ~11. ~ I ~nn nr? .