may, sell to the tenant and the tenant shall purchase the property (emphasis
added). The property then would be assessed at the fair market value and the parties
specifically elected three appraisers to get involved in this process. One appraiser from
each party and the third elected by the appraisers themselves.
As significant, §15.2, "the right of first refusal" provides that upon
receipt by the landlord of a solicited bona fide offer to purchase the property, the
landlord shall immediately give written notice of that fact to the tenant. Upon receipt of
that notice, the tenant shall have the option to purchase the property. The price to be paid
by the tenant for the premises shall be the lesser of the proposed purchase price set forth
in the notice of transfer or the purchase price as defined by §15.1 above. In the
event the tenant exercise the right of first refusal, the tenant shall within 90 days
thereafter to give written notice of the tenant's intent to exercise.
These provisions are concrete evidence that the parties intended for this
property to remain in their family and if not, that the purchase price be fair and equitable
if a family member elected to purchase the property. It is also apparent that based on the
fact that the Petitioner, Fred Brenner was at one point the tenant, he retained the power
and ability to purchase the property on his own accord or to exercise the right of first
refusal in the event that somebody else sought to purchase the property, at his sole
discretion.
Therefore, any claims by the Respondent that there was any ambiguity in this
closely held family lease, business and property are easily defeated; in fact, these
provisions establish to the contrary. All members of the family participated in the