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1 <br /> I <br /> I <br /> i <br /> AGREEMENT TO PURCHASE DEMISED PREMISES <br /> I <br /> CONDITION PRECEDENT <br /> In the event Lessee is not in default under this <br /> Agreement, then he shall have the exclusive, irrevocable <br /> right to exercise the right to purchase set forth in <br /> paragraphs 5 and 6 of this Agreement. Lessee shall give <br /> Lessor notice, in writing, at least two months prior to <br /> the exercise of the right to purchase. <br /> II <br /> PURCHASE PRICE <br /> The total purchase price to be paid for said proper <br /> ties shall be the sum set forth in paragraphs 5 and 6 of <br /> this Agreement. Lessee may, if he so desires, obtain, at <br /> his sole cost and expense, a survey of the subject pro- <br /> perty. However, the purchase price will be determined, i.n <br /> all instances, by the gross square footage owned by <br /> Lessor. <br /> - III <br /> ESCROW <br /> Upon Lessee' s written notice to Lessor of Lessee' s <br /> right to purchase, Lessee and Lessor shall establish an <br /> escrow at a responsible title company located within San <br /> Joaquin County, California. The entire purchase price, <br /> determined under the provisions of paragraphs 5 and 6 of <br /> this Agreement, will be deposited by Lessee, at the close, <br /> of escrow. Escrow shall close within ninety ( 90 ) days of. <br /> the expiration of the applicable Lease term set forth in <br /> this Agreement. <br /> IV <br /> DEFAULT f <br /> If Lessee fails to complete the purchase, as herein <br /> provided, by reason of any default of Lessee, Lessor shall <br /> be released from their obligation to sell the property to <br /> Lessee. <br /> -7- <br /> i <br />