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~. • <br />-5- <br />are successfully taken to patent before December ~1, 1978, the <br />purchase price shall be Two Hundred Thousand Dollars 0,200,000.00), <br />plus that percentage of One Hundred Fifty Thousand Dollars <br />• ($150,000.00) that is equal to the percentage obtained by dividing <br /> the total acreage of the Subject Lands into the total acreage <br />within the Subject Lands successfully taken to patent. <br />D. Credits Aeainst Purchase Price: <br />1. Royalty Payments: The purchase price shall be <br />reduced by all royalty payments made by Lien pursuant to paragraphs <br />7.A., 7,B., 7.C., and 7.D. hereof. <br />2. Deductions for Costs of Seeking Patent: Lien <br />• shall pay all survey costs, attorneys' fees, and other costs neces- <br />sarily incurred in seeking to secure patents on the subject Lands; <br />provided, however, that at such time as such patents are finally <br />granted or denied, or at such time as Lien in its sole judgment <br />determines that further measures to seek patent should not be <br />taken, t{7 P. 1)17 r•f!17A CP nriro of i~hn C~~hjon+ T.a nric chop ~c _^..1..'..^. ^.~ v~ <br />an amount equal to one-half of all costs thus necessarily incurred <br />by Lien in seeking to patent the Subject Lands. <br />E. Time of Payment: Lien shall pay the purchase price <br />• of the Subject Lands, less credits thereon, to Commercial in cash <br /> <br />or certified funds within forty-five (45) days after Lien's exercise <br />of the option granted hereby, or, in the alternative, Lien may pay <br />down ten percent (10/0) of the purchase price, after deducting credits, <br />within said forty-five (45) days, the balance to be paid in nine (9) <br />consecutive equal annual installments of principal, at an interest <br />rate of seven and one-half percent (7Z%) per annum on the unpaid <br />balance; provided, however, that said annual payments upon principal <br />• shall not be less than Twenty Thousand Dollars 020,000.00). <br />10. CONVEYANCE OF TITLE. Upon Lien's payment in full of the <br />purchase price, less credits thereon, Commercial shall convey all <br />of its interest in the Subject Lands to Lien, free and clear of <br />all liens, encumbrances, claims or demands. As to any of the <br />