HomeMy WebLinkAbout1836to such larger tract. If Lessee shall fail to avail itself of its prior right to
purchase such larger tract, whether or not Lessor shall thereafter sell the same
to a third party, Lessee shall nevertheless retain its right to receive notice and
affidavit of, and prior right to purchase according to, the terms of any and all
future or subsequent bona fide offers which may be acceptable to the then Lessor
of the demised premises.
The provisons of thls Article shall be construed to be solely for the benefit
of Lessee and to be additlonal to, independent of, and shall in nowise affect the
existence of, any or all other privileges, options or rights of purchase contained
in this lease.
If Lessee shall elect to purchase said premises under the option hPreby granted,
lessor shall comply with the requirements of the next succeeding Article.
ARTICL~ XV.
CONVEYANCE REQUIREMENTS:
The giving hy Lessee of notice of the exercise of any purchase ~ption herein-
before granted shall fix and determine the right of Lessee to purchase the property
included in the option which Lessee e~lects to exercise, and the obligation of Les-
sor to sell the same. Lessor shall furnish, free of expense to Lessee, within fif-
teen(15)days after receipt of such notice, a title guarantee policy, issued by a
financially respons~ble'title insurance company. A reasonable time will be allowed
Lesse~ to examine same, and if the same does not show fee simple title vested in
Lessor, a reasonable time will be allowed Lessor to cure defects a~d clear the title,
preparatory to delivery of deed and any other instruments req~ired to effect the
transfer and conveyance. -
Upon acceptance by Lessee of said title and payment to Lessor of the purchase
price herein specified, Lessor shall convey to Lessee or its nominee, by General
Warranty Deed, a fee simple title in and to said real estate and the appurtenances
thereunto belonginq, together with any perpetual easements in ad~oining or adjacent
land necessary for the installation, maintenance, operation and use of sewer, water,
gas, power and other utility lines and for driveways and approaches for the use and
benefit of the above described parcel af real estate, free and clear of all liens,
encumbrances, and charges of whatsoever character, with release of dower, curtesy,
homestead, and all statutory riqhts; and shall also deliver to Lessee, free of ex-
pense to Lessee, such Title Policy showing fee simple title to said premises in
Lessor at the time of delivery of deed. Payment hereunder may be made by Lessee's
tendering itscl~eck, draft or voucher in the amount of the purchase price, and if
there be more tlian one Lessor, tender to any Lessor shall constitute tender to all.
If any personal property shall be included in the option, lessor shall furnish
evidence, satisfactory to Lessee, of Lessor's ownership thereof, and shall convey
the same by Bill of Sale with full covenants of warranty.
Such purchase shall serve to cancel the within lease in all particulars, and
if Lessor shall have been paid rents covering a period subsequent to date of deli-
very of deed, such payment shall be applied on and shall constitute a part of the
purchase price of the property conveyed.
Such purchase shall serve also to cancel the lease which is being executed
to run concurrently with this lease, heing a lease from Treasure Coast Oi1,Inc.,
to Kwo~, for the rental of the service center facility ta be constructed in con-
junc~ion with the terms and conditions of this lease.
If at the time of purchase there shall be a valid mortgage, trust deed, or
like encumbrances, or other liens of any kind, against said premises or any part
thereof, which cannot be then paid and satisfied without payment of penalty or
bonus, the amount of indebtedness evidenced by such instrument shall be witht~eld
by Lessee from the purchase price and conveyance shall be made subject to said
indebtednpss.
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