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2009-06-10 CC Packet W/Handouts
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2009-06-10 CC Packet W/Handouts
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<br />8. Heirs and Assian~, The terms of this Lease Agreement apply to the Buyer and the Seller. <br />In the case of the death of either the Buyer or the Seller, the terms of this Lease <br />Agreement shall also apply to and be binding upon any heirs of Buyer or Seller. <br /> <br />8. Otmon to Purchase. Seller hereby grants to Buyer for the term of this Lease Agreement, <br />so long as Buyer is not in default in the performance of any term under this lease, the <br />exclusive option to purchase the Business, with the purchase price being determined by <br />the "Purchase Price Schedule" ~bed hereto. Buyer may exercise the option to <br />purchase the Business at any time during the duration oftbis Lease Agreement, by <br />providing the Seller with written notice of Buyer's .intent to exercise the Option, together <br />with the full purchase price. Buyer's notice of intent to exercise the Option to Purchase <br />shall be considered ineffective if not lWCOmpanied by the full purchase price as <br />determined by the "Purchase Price Schedule" attached hereto. <br /> <br />8. P......<>1'l!pb H....t1il1gs. Paragraph headings are for convenience only. They are DOt part of <br />this agreement and sball not be used in the construction thereof. <br /> <br />8. ApDlicabl~ Law and SevC1llbiJit!. Buyer and Seller agree that this contract is to be <br />enforced and construed in accordance with Minnesota law. If a comt of competent <br />jurisdiction invalidates one or more of the terms of this COntnlct, the surviving terms <br />continue in force. <br /> <br />WHEREFORE, the above nAmed Seller and Buyer have executed the foregoing Lease <br /> <br />Agreement at on this 1 5+ <br /> <br />day of jvi'1 <br /> <br />,2004. <br /> <br />, <br /> <br /> <br />~ X {,.v~ <br />Buyer <br /> <br />The foregoing instrument was acknowledged before me this J sr day of <br />-l vI.. i ' 2004, by/~ ~~ ,the /'f€!r::;:s r~.oVJof . <br />Sahawk, ., a Minnesota CotpOnltion, on behalf of the cotpOmtion. <br />,~."-, "',, ,.-. - . - - -- <br /> <br /> <br /> <br />MARK Z. HANNO <br />NOTARY PUBliC -MINNESOTA <br />My Commission Expires Jan. 31, 2005 <br /> <br />, Si <br />The !oregojB instrument was ~ed before me this I day of <br />- I./L..- ,2004,by ~ r~,A?;,Jt,t: k-"'~(\hc.PresidentofGnaw, <br />Inc., a MinDe!lOta CotpOration, on belutIf of the corporation. <br /> <br /> <br /> <br />MARK Z. HANNO <br />NOTARY PUBLIC. MINNESOTA <br />My Commission Expires Jan. 31. 2005 <br /> <br />19 <br />
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