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(a) The sum of $91,500.00 plus the depreciated value <br /> of all additions and improvements made to said <br /> premises by the Seller; or <br /> <br /> (b) The amount which the Seller has been offered in <br /> writing by a prospective purchaser of said dominant <br /> parcel and which the Seller is willing to accept. <br /> <br /> If the Buyer exercises its right to buy the said dominant parcel, <br />the Buyer shall have ninety (90) days after such exercise in which to arrange <br />financing for the purchase, and the deal shall be closed through escrow with <br />the customary warranty of title and prorations. <br /> <br /> SELLER'S RIGHT OF FIRST REFUSAL. If at any time in the future the <br />Buyer desires to sell or otherwise dispose of th~ "Premises" described in <br />this Land Installment Contract, the Seller shall be notified in writing by <br />the Buyer of such desire to dispose of said "Premises," and the Seller there- <br />upon, for a period of ninety (90) days, shall have the right and option to <br />purchase said "Premises" ~or a price which is the lesser of the following <br /> <br />two amounts: <br /> <br /> (a) <br /> <br /> The sum of $91,500.00 plus the depreciated value <br /> of all additions and improvements made to the <br /> Premises by the Buyer. <br /> <br /> (b) The amount which the Buyer has been offered <br /> in writing by a prospective purchaser of said <br /> premises and which the Buyer is willing to accept. <br /> <br />If the Seller exercises its right to buy said Premises, the Seller shall <br />have ninety (90) days after such exercise in which to arrange financing for <br />the purchase, and the deal shall be closed through excrow with the customary <br />warranty of title and prorations. <br /> <br /> COMPLETION OF CONTRACT AND TRANSFER OF PREMISES, TITLE WARRANTY. <br /> <br />When the Purchase Price and all other amounts to be paid by Buyer pursuant <br />to this contract are fully paid, Seller shall convey the Premises to Buyer by <br />warranty deed warranting good and marketable fee simple title to the Premises <br />in the Buyer, free and clear of all liens and encL~mbrances whatsoever except <br /> <br />-9- <br /> <br /> <br />