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, • <br /> - . <br /> - , <br /> 4'- <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 /> . a 1985 and terminate June 30, 1989. The following rent shall <br /> 5 <br /> be paid to the Lessor by the Lessee on or before July 1 of <br /> 1 <br /> the year indicated: <br /> e <br /> ‹ 1985 $50,000.00 <br /> x . <br /> 1986 $56,250.00 <br /> - 1987 $56,250.00 <br /> • r.- <br /> S 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 /> 1989 Lessor agrees to sell and Lessee agrees to buy the <br /> 2 property herein described upon the payment to Lessor by <br /> Lessee of the sum of $56,250.00. <br /> • a 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 /> ... <br /> 2 <br /> ' • <br /> :' • _ . . . <br />