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14 <br /> ATTACHMENT 3 <br /> 43. OPTION TO PURCHASE <br /> Landlord does hereby grant to County the option (the "Option") to purchase <br /> all or a portion of that certain parcel of real estate upon which the <br /> build1 ng containing the Leased Premises is located, and being all of <br /> Orange County PIN Number 9864-80-7829, and TMBL # 4.40.A.1A, less <br /> an approximately one acre parcel to be retained by Landlord, as more fully <br /> described by metes and bounds description on Exhibit A attached hereto <br /> and incorporated herein by this reference (the "Shopping Center") upon <br /> the terms and provisions set forth herein. All references to Shopping <br /> Center in the Section 43 shall mean that PortioF exercised. <br /> 1 . Option Period. The Option commences on the date of this Lease and <br /> continues until the e�Ter c9f-termination of this Lease Q_r FtBbr,lard 1 <br /> :201:2. Such period of time is hereinafter referred to as the "Option Period." <br /> If the Option is exercised on or before February 1 , 2012 it is for the purpose <br /> herein the "First Option Period," and there after "Option Period." <br /> 2. Exercise of Option. At any time during the Option Period, County <br /> may exercise the Option to purchase the Shopping Center by giving written <br /> not1ce to Landlord in accordance with the terms of this Lease stating <br /> that County is exercising the Option by giving such notice. Such notice of <br /> exercise shall be effective on the date not1 ce is deemed to be given under <br /> the terms of this Lease. <br /> 3. Failure to Exercise Option. If County fails to exercise the Option <br /> within the Option Period, this Agreement shall automatically terminate; <br /> the parties shall have no further obligations or liabilities to one another <br /> hereunder; and County shall have no right whatsoever to purchase the <br /> Shopping Center or any portion thereof or interest therein. Time is of the <br /> essence with respect to exercise of the Option and with respect to <br /> each and every term of this Lease regarding the Option and purchase <br /> and sale of the Shopping Center. <br /> 4. Purchase Price. During the First Option Period, tT-he purchase <br /> price (the "Purchase Price") for the Shopping Center shall be Fifteen <br /> Million Four Hundred Eighty-Nine Thousand and No/100 Dollars <br /> ($15,489,000.00) payable at Closing, less a credit calculated as <br /> follows: If, and only if, "Closing" (as defined below) occurs on or before the <br /> last day of the First Option Period (i.e., February 1 , 2012), County shall <br /> receive a credit of Fifteen Thousand and no/100's Dollars ($15,000.00), <br /> multiplied by the number of monthly installments of rent paid by County to <br /> Landlord under the terms of the Lease during the Option Period, beginning <br /> on the Effective Date and ending on the date of Closing. Such credit shall <br /> be prorated for the month in which Closing occurs. If the Closing occurs <br /> after the First Option Period, County shall not be entitled to any such <br /> credit. If the County exercises the Option after the expiration of the First <br /> Option Period, the Purchase Price shall be as agreed between County and <br /> Landlord. If the parties cannot reach agreement on the Purchase Price, the <br />