HomeMy WebLinkAbout1835(d)If, in the opinion of Lessee, the premices for the convenience store,
motor fuel facility are rendered and deemed to be totally unfit for any use
by Lessee, then, in such event, Lessee shall have the option to cancel and
terminate the lease agreement herein by giving Lessor thirty(30)days written
notice of such intent. In the event Lessee elects to terminate and cancel
this ltase agreement, Lessor shall be obligated and responsible to Lessee,
for the unamorti2ed portion of the ~65,000 spent by Lessee on the service
center,as consideration for a twenty(20)year lease on the demised premises.
The designated balance shall be remitted to Lessee(Treasure Coast) over a per-
iod of ten(10)years (120)months from date of cancellation, and shall be amor-
tized at the current interest rate then in effect at t~e time of cancellation):
EXAh~LE:If lease is terminated at the end of five 5)years by Lessee, then 25X
of E65,000 would be deducted, and the balance of s48,750.00 would be paid to ,
Treasure Coast Oil on a monthly basis, principal and interest, over 120 months,
at current interest rate in effect for comnercial loans at the Sun Bank of St.
Lucie County, Florida.
(e)Lessor shall not, under any.,.circumstances, convey any portion of the
demised premises to the State of Florida, or any political subdivision or agency
thereof, for highway, road or street purposes, without first notifying and sec-
uring consent and approval of Lessee. Lessor shall notify Lessee imnediately
upon receiving notification of such intent by any governing authority, and shall
advise Lessee of any negotiations which might culminate in any such conveyance
by Lessor of any portion of said demised premises.
ARTICLE XIII.
LEASE REFUSAL:
If during the term of this lease, or any extension or renewal thereof,Les-
sor shall decide to accept any bona fide offer to lease the premises for a term
to begin after the end of the term, or any extension or renewal thereof, Lessor
shall notify Lessee of the terms of such offer and Lessee shall have the fir;t
refusal and option to lease said premises on the same terms and conditions. Such
option may be exercised by notifying Lessor within thirty(30)days after the ser-
vice of such notice.
ARTICIE XIY.
PURCNASE REFUSAL:
The parties hereto have agreed that Lessee should have the prior right to
purchase the demised premises throughout the original term and all extended terms
hereof, on as favorable terms as Lessor may from time to time be willing to sell
the same to a third party, even though the price at which Lessor may be willing to
sell shall be less than that set forth in any purchase option or options for a spe-
cific sum which may elsewhere in this lease be granted and then available to Lessee,
and that during such original and extended terms hereof, such right or refusal in
Lessee should co-exist with other options and rights contained herein and 5hould be
a continuing one and available to Lessee as often as the present Lessor and any sub-
sequent Lessor shall be willing to sell said premises to any third party. Accord-
ingly, in the event Lessor shall receive from a third party at any time during the
original term of this lease or any extension thereof, a bona fide offer to purchase
the said premises at a specified price,whether such price be first fixed by Lessor
or the third party, and Lessor shall decide to sell the same for such amount, Les-
sor shall promptly give to Lessee notice thereof, accompanied by an affidavit set-
ting out the full terms of such offer, and of Lessor's willingness to sell for the
price offered, and Less~e shall have the first refusal and privilege(hereinafter
referred to as an "option")of puchasing said premises at such price; such option
to be exercised within fifteen(15)days after Lessee receives notice from Lessor,
by Lessee's notifying Lessor that it will purchase said premises for the amoun~ spe-
cified in said offer. In the event Lessee shall not give Lessor notice, within
said fifteen(15)day ~eriod, of its election to purchase for the amount specified
in said offer, Lessee shall not be obligated to purchase, and Lessor may thereafter
sell said pranises to the party making said offer, always subject, however, to the
provisions of this lease,and to the leasehold estate herein granted, including w?th-
out limitation, Lessee's right to receive notice and affidavit of, and to purchase
according to, the terms of any future bona fide offer acceptable to the then Lessor
of the demised prenises and to any and all other or additional purchase options, ex-
tension options and to all rights and privileges of Lessee in this lease contained.
In the event any such bona fide offer shall cover a tract larger than, but includ-
ing the demised premises, Lessee's right of refusal unde his Article shall apply
~
L R LESSE
Page of 9 pages.
ES OR
~ ~'~K `34~ E~,,:F 1~335
~
~~~:: -_ . - :.~
~
_. _ ~E~~