Laserfiche WebLink
5. Kent. In order to complete all feasibility stu- <br /> dies, Lessee shall have twelve ( 12) consecutive calendar <br /> months rent-free to accomplish the purposes outlined <br /> above. At anytime d-pring the first year, up to, and <br /> including, July 1987, Lessee shall have the irrevo- <br /> cable, exclusive option to purchase the property at the <br /> sum of $7 .00 per square toot on the terms and conditions <br /> as hereinafter set forth. <br /> 6 . In the event Lessee does not exercise the option <br /> to purchase the property following the first year of the <br /> rental term, then this Lease will continue for an addi- <br /> tional twelve ( 12 ) consecutive month period, but only in <br /> the event Lessee complies with the following: <br /> A. Lessee shall pay to Lessor, monthly in <br /> advance, the sum of $2 , 100. 00 per month, payable on the <br /> _ First day of each calendar month. All rental to be paid <br /> by Lessee to Lessor shall be in lawful money of the United <br /> States of America and shall be paid without deduction or <br /> offset, prior to notice or demand. Any rent payment not <br /> paid within ten ( 10 ) days of its due date shall be subject <br /> to a five percent ( 5% ) late charge. <br /> B. During this second twelve-month Lease term, <br /> Lessee shall be permitted to exercise his option to <br /> purchase the property during the twelfth month. The- <br /> purchase <br /> hepurchase price shall be $6. 50 per square foot. <br /> C. In the event Lessee does not exercise the <br /> option to purchase the property following the second year <br /> of the rental term, then this Lease will continue for an <br /> additional twelve (12 ) consecutive month period; but only <br /> in the event Lessee complies with the following : <br /> ( 1) Lessee shall pay to Lessor, monthly in <br /> advance, the sum of $2 ,100.00 per month, payable on the <br /> first day of each calendar month. All rental to be paid <br /> by Lessee to Lessor shall be in lawful money of the United <br /> States of America and shall be paid without deduction or <br /> offset, prior to notice or demand. Any rent payment not <br /> made within ten (10 ) days of its due date shall be subject <br /> to a five percent ( 5$ ) late charge. <br /> ( 2) During this third twelve-month Lease <br /> term, Lessee shall be permitted to exercise his option to <br /> purchase the property during the twelfth month . The <br /> purchase price shall be $6 . 00 per square foot. <br /> 7 . Taxes . It is expressly understood and agreed by <br /> -2- <br />