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or with only changes or revisions being made thereto which are approved by Optionee in its reasonable discretion. 3. Purchase Price; Relocation Compensation. (a) Purchase Price. The purchase price for the Property shall be Three Million One Hundred Fifty Thousand Dollars ($3,150,000) (the "Purchase Price "). If Optionee exercises the Option, the Purchase Price shall be paid by Optionee to Owner at the Closing as follows: (a) Optionee shall receive a credit to the Purchase Price equal to the sum of the Option Payment, the Initial Deposit, and all Applicable Deposits made by Optionee, plus all interest accrued on the Deposits while in Escrow, and (b) Optionee shall deposit into the Escrow at or prior to the Closing for delivery to Owner a sum (the "Closing Payment ") equal to the balance of the Purchase Price. (b) Relocation Compensation. Owner has informed Optionee that the Property currently is leased to an affiliate of Owner, Continental Tool Company, Inc.(the "Tenant "), pursuant to a lease agreement between Owner and the Tenant (the "Existing Lease "). If the Closing occurs, then effective as of the Closing (i) Owner shall cause the Existing Lease to be terminated, and (ii) Optionee shall lease back the Property to the Tenant pursuant to a lease agreement executed and delivered by Optionee and the Tenant at the Closing, in the form of Exhibit F attached hereto (the "New Lease "). Among other things, the New Lease shall grant Optionee the right to terminate the New Lease following notice to the Tenant, as specifically set forth in the New Lease. In addition to the Purchase Price, if the Closing occurs, then provided the Tenant executes and delivers to Optionee the New Lease and the Hazardous Materials Disclosure Certificate contemplated by the New Lease, Optionee shall deposit in Escrow (for release to the Owner upon the Closing) the sum of One Million Dollars ($1,000,000) (the "Relocation Compensation ") as full and complete compensation to cover Owner's and Tenant's costs to relocate their businesses to other locations and for disruption to their businesses. (c) Allocation. Prior to the Closing, Owner shall have the right to allocate some or all of the Relocation Compensation to the Purchase Price by giving written notice thereof to Optionee and Escrow Holder. To the extent that all or any portion of the Relocation Compensation is allocated to the Purchase Price, the Relocation Compensation shall be reduced by like amount. 4. Escrow. (a) Opening of Escrow. Promptly after the full execution and delivery of this Agreement, the parties will open an escrow (the "Escrow ") with Escrow Holder and shall deposit with Escrow Holder a copy of this fully executed Agreement, or executed counterparts hereof. The "Opening of Escrow" shall be deemed to have occurred on the date following the execution and delivery of this Agreement by Optionee and Owner that Escrow Holder executes the "Acceptance of Escrow Holder" immediately following the signature pages of this Agreement (the "Acceptance ") and returns to Optionee and Owner such Acceptance. Option Agreement 20 Chemical 10.05. 2010 v.5 6