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APR 19 '96 14�11 KENNEDY & �RAVEN
<br />OPTSON AGREEMENT
<br />P.Z
<br />4�i��s6
<br />TIiZ S OPTION AGREEMENT, made and en�ered x�� �a �° h. �� ��� o�
<br />2,1� �,996 b!�r anci be�ween TONY JAhi��R /0 �i��+.� .�1��,������� ;�2�����"����
<br />���`r�k,v, ;�-i;��;'..s�5���.:�,� � ierJ@�l-l.-�'i'i9 � Q d1'1C� l��lv� ��,����.},�fi�,��,'s?L�'�t.,�a::S� 5 i..�.: �-Frp�������n�
<br />WYTNES5E`I''�Y:
<br />In consideration of the option raoney here�nafte� regerred ta,
<br />Sellez hereby grants to Bu�er an exclusive optian to puxchase the
<br />rea3. propert�r hereinafter described subject to the terras and
<br />candi�ions set forth in th3s Optiori �i ��em�n�, Bu�er shall
<br />exeraise said aption on or befor� %�T�t-�;� ����`P; ,���� k�y giving notice
<br />to Sell�r oi Buye�'s intent to pux��c7i�.�e sa'z'd"' �roperty and by
<br />purchasing sai.d prnperty on the terms h�rezna�tez set farth
<br />(subject to delay of Closing at the request of Seller as
<br />heteinafter set £orth) . Tf Buyer sha1.I �ai1. to timely exercise
<br />said option wi.thin said time pEri4d, the option granted herein
<br />shall expa.ze �i �.�.ca�,�i�. x���.ic� to �3u.�r��° ��� ��J.l.�r �sk�a? � ���� a � �� i.el
<br />1. Descrlptian of Land Soid. Seller, in consideration o�
<br />the covenant� and agreements of Buyex� hereinafter contai.aed, hereby
<br />seils and ag�ees to convey unto the $uyer, thEir snCCesso.rs and
<br />assigns, by warranty deed, accompanied by an abstract of ti-�Ye or
<br />an Oc�ner's Du�liCate Certiiicate of Ti�le and �egistered proPerty
<br />abstract and Se11er's aEfidavit, upon the prompt and fu11
<br />perfarmance by the Buye= af their part of this Agresment, certain
<br />=eal property and alZ of th� improvemen�ts, equipment and fixtures
<br />thereon known as the BeY Rae Ballroom Property at Hi.gh�ay 10
<br />in the City o� MQUZ�ds View, Rams�� County, 5ta�e of Min�zesota and
<br />legally des�ribed on. Exhibit A attached he�ceto (collect3vel.y
<br />here3naftEr referred to as the "Property"). The "Property" sha1.].
<br />inciude all personal property located upon and used in connection
<br />�rith operation of the Bel Rae Ball.room, and any and all. business
<br />conducted therefrom, inclnda.ng, without Zimitation, a11. tab].es,
<br />chairs, public address equipment, kitchen equipment, suppiies, and
<br />inventory, bar equ.zpment, supplies, and i.nventory, and within ;�:�,;
<br />days o� �xecutS.on of �his Agreement, Se11ex sha.�]. �r�vzd� �o Buyer
<br />an �a��r�az�.��°�,� i�emi�ing a11 �uch �e:��c�sa��, ����ae��� ,, a;���r��iz��
<br />. �:
<br />��:��.�ri�r, > ,��:i�.�� >`.:��ia>��:.....:ka��r� :<:; �� : ��.c€k��.;...�:r'c�;`..��� �. .��,� <. r.i�����,� .,.��;�`c�
<br />Z1D6i102947
<br />2lU12S-36
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