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r <br /> • - <br /> • 13. Leases. Lessor agrees that on July 1, 1985 <br /> all presently existing leases shall be the property of <br /> Lessee. Lessor agrees to assign said leases to Lessee and to <br /> execute any and all instruments necessary to accomplish the <br /> . <br /> transfer of ownership of any such leases . Rent due the <br /> Lessor on July 1, 1985 for any such lease shall be prorated <br /> to July 1 , 1985 and either adjusted or paid to the <br /> appropriate party at that time. Any security deposits being , <br /> held by Lessor shall be paid over to Lessee on July 1, 1985. <br /> Lessee shall account to any tenant as provided by law for the <br /> security following the assignment of the lease of any such <br /> tenant. <br /> 14. Default. In the event of default this <br /> lease/purchase contract shall terminate and Lessee shall <br /> • - immediately surrender the premises to Lessor. As used in <br /> this lease/purchase contract, the term "event of default" <br /> • means the occurrence of any one or more of the following <br /> 0 <br /> events: <br /> (a) Lessee fails to make any lease payment as it <br /> • 3 becomes due in accordance with the terms of this lease, and <br /> • any such failure continues for thirty (30) days after the due <br /> date thereof. <br /> (b) Lessee fails to perform or observe any other <br /> covenant, condition, or agreement to be performed or observed <br /> by it hereunder and such failure is not cured within thirty <br /> (30) days after written notice thereof by Lessor. <br /> 8 <br /> • <br />