upr000121 282

1/12 of per annum on total value of property, namely, $1 ,350,000.00 83 $5,625*00 Plus depreciation at rate of l/l2 of per annum upon value of improve­ments and chattels, $965,000.00 ** 3,216.67 plus taxes and assessments (except assessments chargeable to Capital Account), site to be used for manufacture, processing, refining, handling, shipping and storage of vegetable, animal and marine fats and oils and agricultural and related products, and movement of general cargo; Pacific Corporation shall have right to purchase premises at any time during first five years of term, except oil, gas and other miner­als in subject property, for sum of $1 ,350,000.00, plus amount of assessments chargeable to Capital Account, less (a) $3,216.67 for each month Pacific Corporation has made monthly rental payments, and (b) less amount of any insurance proceeds that may have applied to reduce base upon which rental was calculated; purchase price, including Interest at rate of 5—1/2^ per annum upon balance thereof in equal monthly payment during remaining months of term of agreement. When Pacific Corporation has paid all sums due, Land Company shall deliver deed conveying land and improvements to Pacific Corporation, together with bill of sale for the chattels, and deliver, if requested by Pacific Corporation and at Pacific Corporation’s expense, standard policy of title insurance showing title vested in Pacific Corporation, except oil, gas and other miner­als and mineral rights, subject to: (a) Any taxes and any assessments for public improvements which are a lien at the time of the conveyance; (b) Covenants, conditions, restrictions, reservations, easements, exceptions and encumbrances of record; -3-