Common use of Lease Back Clause in Contracts

Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Xxxx Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000. DocuSign Envelope ID: 076218D5-1C71-4786-B431-1D5D6DAA5DA4

Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Xxxx Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000. DocuSign Envelope IDPrior Contract. Seller and Buyer previously entered into a Real Estate Contract dated December 18, 2019 as amended (the "Prior Contract"). Seller and Buyer confirm that: 076218D5-1C71-4786-B431-1D5D6DAA5DA4(i) the Prior Contract is no longer in force or effect and (ii) neither Seller nor Buyer have a claim against the other party under the Prior Contract.

Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Xxxx Ness Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000. DocuSign Envelope ID: 076218D5-1C71-4786-B431-1D5D6DAA5DA4.

Lease Back. Seller uses the Property for its police station. Seller is constructing a new police station. Seller anticipates that its new police station will be completed prior to October 30, 2020. If Seller's new police station will not be completed by October 30, 2020, Seller shall have the right to lease the Property after closing for three separate thirty (30) day periods. Seller shall provide Buyer written notice of its exercise of its lease back right no later than October 23, 2020 with respect to the first 30- day period; no later than November 23, 2020, with respect to the second 30-day period; and no later than December 21, 2020 with respect to the third 30-day period. Such lease shall be made pursuant to the terms of Xxxxxxx Xxxx Form No. 1338 – Commercial Lease, Short Form. The monthly rent under the lease shall be $14,000. There shall be no security deposit. Seller shall use the leased premises for its police department. Seller as lessee shall maintain liability insurance of not less than $2,000,000. DocuSign Envelope ID: 076218D5-1C71-4786-B431-1D5D6DAA5DA4.