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further described on Exhibit A attached hereto and incorporated herein and as
<br />shown on Exhibit B attached hereto and incorporated herein, in which case the
<br />term "Property" shall include said parcel;
<br />Buyer elects to purchase the parcel described, in this Section 1.C.
<br />Signature:
<br />together with all easements, appurtenances, rights, privileges and hereditaments
<br />appertaining thereto or thereunto belonging, all right, title and interest of Seller in
<br />and to any land lying in the bed of any highway, street, road or avenue, open or
<br />proposed, in front of, abutting, or adjoining the property, all buildings,
<br />improvements located thereon or attached, and all electrical, heating, plumbing
<br />and other fixtures located thereon (including but not limited to all pews, but
<br />excepting therefrom those items identified on Exhibit C attached hereto), as well
<br />as all leases, licenses, certificates, approvals, authorizations or permits with
<br />respect to said properties.
<br />2. Purchase Price. The purchase price (the "Purchase Price") for the
<br />Property (excluding the parcel described in Section 1.C) shall be Two Million Dollars
<br />($2,000,000.00), or, if Buyer elects to purchase the parcel described in Section 1.C, Two
<br />Million One Hundred Thousand Dollars ($2,100,000.00), payable as follows:
<br />A, the Purchase Price shall be paid by Buyer.to Seller in cash,
<br />cashier's check or other immediately available funds as follows:
<br />Date Amount
<br />October 31, 1999 $500,000.00
<br />(subject to Section 2F.)
<br />January 2,2000 500,000.00
<br />January 2, 2001 500,.000.00
<br />January 2, 2002 500,000.00
<br />B. In the event that Buyer elects to purchase Permanent Parcel
<br />Number 831-37-008 for additional consideration of $100,000.00 pursuant to
<br />Section 1 C. above, each of the payments required on the dates designated in
<br />Section 2A. shall be $525,000.00.
<br />C. Buyer's obligation to pay the Purchase Price will be represented
<br />by a .Promissory Note payable to Seller, and secured by a purchase money
<br />mortgage, such Promissory Note and Mortgage to be delivered by Buyer at
<br />Closing. Buyer shall have the option of prepaying any amounts described in this
<br />Section 2 at any time, without penalty..
<br />p, The parties acknowledge and agree that Buyer shall pay to Seller
<br />installments of the Purchase Price as described in Section 2A, or Section 2B (i)
<br />even if the Closing has not yet occurred prior to any of the dates for payment of
<br />the described installments, and (ii) even if all of the conditions precedent
<br />described in Section 11 have not been satisfied. To the extent that installments
<br />of the Purchase Price are paid to Seller prior to Closing, the Seller will execute a
<br />Mortgage Deed to the Buyer to secure repayment of the advanced payments in
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