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DRS233 <br /> 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 Lease by and between <br /> the City and Lessor dated . This purchase option is <br /> being exercised pursuant to Article XI of said Lease. The City <br /> is now, and on the date set forth above for payment will be, in <br /> full compliance with all terms and conditions of the Lease. In <br /> accordance with Article XI, the City shall purchase the <br /> Improvements for a price of the total principal portion of the <br /> Lease Payments set forth in Exhibit B to the Lease plus accrued <br /> interest thereon to the date of payment as the rates set forth in <br /> Exhibit B of the Lease, less all Lease Payments previously paid <br /> to Lessor, for a total Purchase Price of $ <br /> City of Everett <br /> By <br /> Authorized Representative <br /> C-1 <br />