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Bxj 1~~~ pG`~~~ <br /> shall have a right of first refusal, which right shall expire <br /> thirty days following receipt of written notice of intent to <br /> sell. The form of notice shall consist of a copy of the contract <br /> <br /> of sale between the lender and the third party, which contract <br /> shall contain the following provisions: <br /> "This contract and assignment of the Leasehold estate <br /> described herein, shall not become effective unless <br /> and until (a) the LESSOR waives its right of first <br /> refusal, (b) fails to exercise its right of refusal. <br /> The right of first refusal of the Lessor is as follows: <br /> The LESSOR shall have the right to purchase the lease- <br /> hold estate upon the same terms and conditions as set <br /> forth in this agreement. Said right shall expire, <br /> unless exercised, on the 30th day following receipt <br /> by the LESSOR of a copy of this agreement. Should <br /> the LESSOR elect to exercise such right, it shall be <br /> given written notice thereof to the lender prior to <br /> the expiration of the right of first refusal. The <br /> right of the LESSOR, in the event such right is <br /> exercised, is to all of the rights of the Assignee/ <br /> borrower named herein, including but not limited to <br /> rights under the leasehold estate, rights under this <br /> contract and rights under any conditional offer to <br /> finance the Assignee made in connection with this <br /> Contract." <br /> 4 <br /> <br />