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TEL No. May ~,~1 1?~59 No .004 P.G3 <br />• • <br />D. plvtAtjp~S: General taxes for the year of closing, based on the most recent levy and <br />assessment, together with any pre-paid water or sewer charges or assessments, shall be prorated <br />as of the date of closing. Except as otherwise provided herein with regard to Tenani bearing a <br />portion of real estate texas during this lease, Seller shall be solely responsible for all real estate <br />taxes, assessments, bills and expenses relating to the Property, including past due amounts, <br />interests and penahies up to and including the date of cloning, regardless when such became or <br />become due, and Buyer shall be responsible thereafter. <br />E. ~jration of lotion: If Tenant fails to exercise his option as provided herein prior to <br />the termination ofthis lease, such option shell be null end void unless prior to such time Landlord <br />and Tenant have agreed in writing to the extension of the option. <br />F. Effeet of Exercise of Opft~n on Lease Obligation: In the evont Tenant purchases the <br />property as provided herein, ell other rights and obligations of this LeasdOption relating to the <br />rental of the property shall immediately cease on Dosing of the sale. <br />O. Risk of Loss/Insurence: All rick of loss shall remain on Landlord until any sale <br />hereunder is closed. Tarrant shall at all times refrain from committing waste to the leased <br />property, Tenant shall at all times maintain on the Property insurance against liability in a form <br />and amount and with companies acceptable to Landlord with limits of not less than two hundred <br />filly thousand dollars (5250,000) per person or per incident. Landlord shall at all times be listed <br />as an additional named insured on ell insurence policies covering the property with right to receive <br />at least thirty days prior notice of cancellation of any policy of insurance covering the property. <br />Landlord may also maintain insurance on the Property but if Landlord chooses to do so, <br />Landlord's insurance shall be secondary to the covorage provided by Tenant's insurence. <br />H. Landlord's ReDresentatione: Landlord represents, covenants and agrees that, at the <br />Ihne of signing this agreement, there are rro easements or other agreements affecting the Property <br />not of record and that from and after the time of signing this agrcement, Latxilord shall not create <br />any casements or other rights affecting the property. Landlord further represents, covenants and <br />agrees that, at the time of signing this agreement, the Property is zoned wmmacial and that they <br />are aware of no violations of environmental, zoning, safety or other codes, regulations or laws <br />affecting or relating to the property. Landlord further represents, covenants and agrees that, after <br />the signing hereof, they will not do anything with regard to the property which would violate any <br />environmental, zoning, safety or other Lodes, regulations or laws. <br />5. Landlord end Tenant's Obli lion For the duration of this lease, Tenant agrees to use <br />the premises solely for storage of excavating and other equipment and related materials and <br />supplies and fur no other purposes whatsoever without the prior written consent of the Landlord. <br />-3- <br />