upr000030 72

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 $00bim h* Said option shell be exercised by Mas delivery at mty Mat witHia the kptloa parted by Partnership to Lead Caapany and to said escrow 6®<a* of written notice of Partnership*! intention to eatereiee said optic®, payaest into said •sersar f« delivery to the land Company of the purchase prle* of the option parse!, and delivery to land Ccespany end to said escrow e®Wftt ** * ittlttoa agreement that Partnership bos received all necessary swermaatal authority, If such authority he then required, for the construct- of, sad that Partnership sprees thereafter to psra^Oy amt cos- plftte e<«etructlon of a rnmmm building of ear floor elevation, cover. is*g a ground area of not lea® than 10,000 square feet for its printing operation®, afftims and storage of newsprint paper, tJpca the caeerciae of ^tioa by farta*CT&ip in the aetaaer aforesaid, this agreement shall beeme a binding agreement by land Coopany to will and by Partnership to purchase the ****** parcel far the su* of «gi|§ plus the proportion of assessments fbr finite improvement® praporly chargeable aa determined by standard recounting psaetloes a® snpital ekpesditurss assessed %& 1the effective date b«re®f «S»» property of the Land Company outlined in Mack oa said Safciblt A, that the area of the option parcel bears, to the said, parcel outlined ta black on Exhibit A, md which have bees paid by land Ccnpaay upon the following tarns wad condition*! fa) Xfptm axerciec of said option and until Partnership sshfeSJ default iM m® perfeaasase of any of tbs terse and conditions of this agreement , l^rthftrefeip shall be entitled to the p^rn?- ioa of the option parcel. (b) Upon acfdel ties of title t© the cation parcel $wtaim&lp eball commence and thereafter a® pre^tly §a reasonably praeti* cifele complete the construction of said warehouse hmiAtwg L.^ the optic® parcel. *