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EXHIBIT C <br /> FORM OF NOTICE OF ELECTION OF OPTION TO PURCHASE <br /> [date] <br /> To: Lessor <br /> You are hereby notified that the City of Everett, Washington <br /> has elected to exercise on [date of payment] <br /> Its option to purchase the fire station (the "Improvements") <br /> currently leased by the City pursuant to the Amended and Restated <br /> Lease (the "Lease") by and between the City and Lessor dated <br /> . This purchase option is being exercised pursuant to <br /> Article XI of said Lease. The City is now, and on the date set <br /> forth above for payment will be, in full compliance with all terms <br /> and conditions of the Lease. In accordance with Article XI, the <br /> City shall purchase the Improvements for a price of the total <br /> principal portion of the Lease Payments set forth in Exhibit B-1 <br /> to the Lease plus accrued interest thereon to the date of payment <br /> as the rates set forth in Exhibit B-1 of the Lease, less all Lease <br /> Payments previously paid to Lessor, for a total Purchase Price of <br /> City of Everett <br /> By <br /> Authorized Representative <br /> C-1 <br />