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In the event any installment payment to be made by VENDEE under <br /> <br />the terms of this agre'ement is not paid by VENDEE when due or within thirty <br />(30) days thereafter, or in the event VENDEE shall fail to pay any of said <br />taxes and/or assessments when the same are due and payable or in the event <br />VENDEE shall fail to insure said building or keep the same insured as herein- <br />above provided, then upon the occurrence of any of said events, VENDOR may <br />terminate this agreement and initiate forfeiture of the interest of the VENDEE <br />in default, as provided by law. <br /> <br /> For and in part consideration of the sale of the above described <br />premises by VENDEE as herein set forth, in the event VENDEE shall for any <br />reason whatsoever move the majority of its productions outside of the City <br />of Lakewood, Ohio, or in the event VENDEE has fulfilled all of the terms and <br />provisioms of this Agreement as herein set forth, and has paid the balance of <br />the purchase price in full and elects to sell, assign, transfer, convey or <br />in any way dispose of all or any part of the above described premises for any <br />reason whatsoever, VENDEE does hereby give and grant to VENDOR the right, <br />privilege and option to re-purchase the above described premises. <br /> <br /> In the event said VENDEE shall move th~ majority of its productions <br />-out of the City of Lakewood, Ohio VENDOR shall give written notice thereof to <br />VENDEE accordingly. Thereupon VENDEE shall have thirty (30) days next following <br />receipt of said notice to comply with said condition. In the event the condi.tion <br />i~ not ~ompiied with then VENDOR shall have sixty (60) days next following the <br />expiration of said thirty (30) days period within which to elect to exercise it~ <br />option to re-purchase said premises in accordance with the terms hereof. <br /> <br /> In the event the VENDEE elects to seil,'assign, transfer, convey or in <br />any way dispose of all or any part of the above described premises, then VENDEE <br />shall give written notice thereof to VENDOR. Thereupon VENDOR shall have sixty <br />(60) days after receipt of said notice within which to elect to re-purchase said <br />premises in accordance with the terms hereof. <br /> The parties hereto hereby further agree that in the event either one of <br />the aforesaid conditions Shall occur within five (5) years next following the date <br />6f this Land Contract, and in the event said VENDOR elects to re-purchase said <br />premises, then said VENDOR may re-purchase said premises for the price of Twenty <br />Three Thousand 'Five Hundred Dollars ($23,500.00) payable in cash, less the unpaid <br />principal balance due and owing at such time. In the event either one of said <br />conditions shall occur later than five (5) years next following the date of the <br />execution of this Contract, then the purchase price shall be de~ermined by a real <br />estate appraiser mutually agreeable to VENDOR and VENDEE, whose determination shall <br />be binding on both parties. <br /> <br />- 3- <br /> <br /> <br />