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PARCEL III
<br />AGKEENTENT
<br />THIS AGREEMENT is made this day of �� ��, 19 Ybetween
<br />JAMES PORTER BONE and PATRICIA BONE, his wife,
<br />hereinafter called seller, and SAFEWAY STORES, INCORPORATED, A Maryland Corporation,
<br />hereinafter called buyer, as follows:
<br />1. In consideration of the payment to seller of ------EIGHT HUNDRED AND 00/100--------------------
<br />------------------------------------------------------------- DOLLARS ($800.00 ),
<br />receipt of which is hereby acknowledged, seller hereby grants to buyer the exclusive option, e ercisable of or before
<br />sixty (60) days from the date first written above , to purchase for ----
<br />THOUSAND AND 00/100------------------------------------------- DOLL )
<br />the following described real property and all improvements thereon in the City of Batesville
<br />County of Independence , State of Arkansas
<br />LOTS 1 AND 2 AND THE NORTH HALF OF LOTS 9 AND 10, BLOCK 4, HIGHLAND ADDITION, TO
<br />THE CITY OF BATESVILLE, INDEPENDENCE COUNTY, ARKANSAS, AND ALL THAT PORTION OF
<br />LOT 3 SOUTH OF COLLEGE AVENUE (NOT DEDICATED) AND ALL OF LOT 8, BLOCK 4, HIGHLAND
<br />ADDITION TO THE CITY OF BATESVILLE, INDEPENDENCE COUNTY, ARKANSAS
<br />hereinafter called said property.
<br />Together with all of seller's right, title and interest in adjoining streets and alleys.
<br />sixty (60)
<br />Seller hereby further grants to buyer the right to extend this option for one (I) additional period of/i+iHet} (90 days by mailing to seller prior to
<br />the expiration of this option, at the address set forth in paragraph 2 hereof, written notice of such extension, it being provided that buyer, upon
<br />the exercise of this extension right, shall pay to seller by check or draft an additional deposit of -----TWO THOUSAND
<br />FIVE HUNDRED AND 00/100-------------------------------------- DOLLARS($ 2,500.00 )
<br />2. The exercise of said option shall be by written notice, effective upon mailing or hand delivery, by buyer to seller at c/o TEXACO
<br />BULK PLANT, HIGHWAY 167 NORTH, BATESVILLE, AR 72501
<br />3. Buyer may, at its expense, during the option and escrow periods, enter upon said property to make surveys and site analyses (including soil
<br />tests).
<br />d. If buyer fails to exercise this option in the manner and within the time herein provided, seller shall retain said deposit (which shall include all
<br />sums paid under the provisions of Paragraph 1), and this agreement shall be of no further force or effect.
<br />5. Upon buyer's exercise of said option, this agreement shall constitute a contract for the purchase of said property on the terms and conditions
<br />hereinafter set forth.
<br />. The purchase price of — — — —
<br />---------------------------
<br />--------------------------------------------------------- DOLLARS( ),less
<br />the said deposit(s), shall be payable on delivery of the deed and completion of the escrow as hereinafter prove e .
<br />7. Within thirty (30) days after buyer's exercise of said option, an escrow covering the purchase and sale of said property shall be opened by
<br />buyer with Beach Abstract and Guaranty Company
<br />at Post Office Box 2580
<br />Little Rock, AR 72203 , hereinafter called escrow agent, and
<br />buyer shall deposit with escrow agent an executed copy of this agreement and seller shall deposit a grant or warranty deed of said property to
<br />buyer and all title papers required by escrow agent or buyer.
<br />S. Buyer's title to said property shall be evidenced by an owner's policy of title insurance in the amount of the purchase price written by a title
<br />insurer of buyer's choice. Title shall be subject only to current taxes not yet delinquent and shall be free and clear of all other matters not
<br />approved by buyer in writing. Said other matters include, without limitation, all encumbrances, leases, tenancies, rental agreements,
<br />reservations, covenants, conditions, restrictions, easements, rights of way and encroachments onto or from said property. Seller promises to
<br />furnish buyer with copies of all written leases, tenancies and rental agreements and to advise buyer fully as to any not written. Seller further
<br />promises that buyer, at buyer's expense, will be able to obtain a survey confirming that said property extends to the street line of all adjacent
<br />streets and that there are no easements, rights of way or encroachments. Should buyer inform seller of matters not acceptable to buyer, seller
<br />shall make every effort to correct such matters.
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