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on <br />hR'r1C Lr XIX <br />LESSEE'S OPTIONS <br />En <br />Section 1901. Lessee shall have and is (.ranted the <br />option to extend this Lease and Agreement for extension terms <br />of year each for a basic annual rental of ���-�<".��., Dollars <br />per year, payable in advance on the first business day of each <br />year of the extension term; plus the additional rentals heretofore provided <br />in Article II hereof and otherwise upon the terms, conditions and provisions <br />of this Lease and Agreement. The options provided for herein shall be <br />deemed automatically exercised by Lessee (without requirement of any <br />notice of exercise) unless thirty (30) days prior to the end of the initial <br />term or any extension term Lessee shall give Lessor written notice by certi- <br />fied or. registered mail (with or without return receipt requested) that Les- <br />see does not elect to have the lease term extended beyond the then current <br />initial or extension term. Whenever used in this Lease and Agreement the <br />words "extension term" or "renewal term" shall have the same meaning and <br />shall refer to the term concerning which the option to extend is granted by <br />this Section 1901. Furthermore, whenever the unqualified word "term" <br />appears in this Lease and Agreement, the referencs shall include the initial <br />and any extension terms. <br />Section 1902. A. Prior to December 1., 1978 the Lessee shall have <br />the right and option to purchase the leased premises if, but only if: <br />(i) Lessor shall default in the performance of any of <br />its obligations under this Lease and Agreement; or <br />(ii) The leased premises shall sustain major damage <br />or destruction; or <br />(iii) `l'itle to or the temporary use of all or substantially <br />all of the leased premises shall be condemned as <br />provided in Article XIV hereof; or <br />