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60,530 PACE <br /> 270.37 feet to an iron stake, the Northwest corner of Paul <br /> Hogan; thence with Hogan South 6 deg. 02 min. West 163.92 <br /> feet to an iron stake in the North right of way of U. S. <br /> Highway 70-A; thence along said Highway North 66 deg. 06 min. <br /> West 228.65 feet to an iron stake, the Southeast corner of <br /> Paul Collins; thence with Collins North 5 deg. 44 min. East <br /> 75.85 feet to the place and point of beginning, according to <br /> survey and plat of Property of Brodie S. Carr, surveyed <br /> September 27, 1960, by Robert A. Jones, Registered Surveyor. <br /> This is the same property conveyed to Lessor from Brodie S. <br /> Carr, widower, by deed recorded at Book 227, Page 1448 of the <br /> Orange County Registry. <br /> 2. The Lease. The lease will commence July 1, <br /> 5 1985 and terminate June 30, 1989. The following rent shall <br /> be paid to the Lessor by the Lessee on or before July 1 of <br /> the year indicated: <br /> 1985 $50,000.00 <br /> 0 1986 $56,250.00 <br /> 1987 $56,250.00 <br /> 1988 $56,250.00 <br /> 3. Purchase of Property. Provided that all of <br /> the terms and conditions of this lease are met, on July 1, <br /> W . <br /> 1989 Lessor agrees to sell and Lessee agrees to buy the <br /> x property herein described upon the payment to Lessor by <br /> Lessee of the sum of $56,250.00. <br /> 8 4. Conditions. The following conditions must be , <br /> established to the satisfaction of Lessor prior to July 1, ?' <br /> 1985 and as a condition to Lessee's obligation to perform any <br /> and all of the terms of this lease/purchase contract: <br /> (a) There must be no restriction, easement, zoning <br /> or other governmental regulation that would prevent the <br /> reasonable use of the property for commercial purposes. <br /> 2 <br />