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<br />., <br />. <br /> I <br /> I <br /> I <br /> 11 <br /> Ii <br /> I <br /> ,I <br /> il <br /> " <br /> " <br /> II <br /> Ii <br /> II 5 FAILURE TO EXERCISE OPTION f the City of lakewood does not exer- <br /> Ii <br /> I! clse this option as herein provided, this option shall then terminate and I <br /> 'I the sum of One Dollar ($l.OO) paid by the City of lakewood shall be retained <br /> II by James and Harcia Pfaff free of all claims of the option, and neither party I <br /> II <br /> I' I <br /> II shall have any further rights or claims against the other and James and <br /> " I <br /> II Harcia Pfaff shall be free to sell the subject real property to any person, <br /> I <br /> ,I <br /> II firm or corporation they see fit. <br /> i¡ <br /> !i 6. ASS I GN~1ENT This Option Agreement shall not be assigned without <br /> Ii <br /> !I the express written consent of both parties hereto. <br /> II 7. MISCEllANEOUS PROVISIONS <br /> A. This Option Agreement shall be construed under the applicable <br /> Ii provisions of Ohio law. The parties hereto agree to comply with all <br /> I' <br /> Ii provisions of the Uniform Property Acquisition Act. <br /> ,I <br /> :1 B. This Option Agreement represents the entire Agreement between <br /> I <br /> !, ! <br /> Ii the parties and no oral understanding in existence prior to the 1 <br /> , execution of this Agreement shall have any force or effect. <br /> I <br /> , C. Time is of the essence of this Agreement. <br /> , <br /> , <br /> ¡: <br /> !: 8. MUN I C I PAL APPROVAL Th i s O¡Jt i on sha 11 not be va lid unt i 1 the Counc ill <br /> II of the City of lakewood has adopted legislation approving this Agreement pur- <br /> I <br /> i <br /> i suant to all appl icable provisions of the Ordinances of the City of lakewood , <br /> ¡I A certified copy of the ordinance shall be sent to the Se ers. <br /> Done at lakewood, Ohio, on this __ day of - 980 <br /> CITY OF lAKEWOOD <br /> 2· <br /> ~ <br /> -- <br /> . Sinagra Mayor <br /> vII TNESSES <br /> James A. Pfaff <br /> 'I <br /> Î ~1arcia~Pfaff <br /> ! I <br /> I <br /> i l <br /> -2- I <br /> I <br /> ' <br /> ¡ <br />'""f-r'1f'/""""-"'-"" <br /> <br /> <br /> <br /> <br />