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interest of the Selling Owner at the same price and on
the same terms and conditions as set forth in the offer
of the bona fide prospective purchaser. If Timothy J.
Tehan or the other owners do not exercise the said
option, the Selling Owner shall be free to sell his/her
interest to the bona fide prospective purchaser pro-
vided: (i) the purchase price and terms and conditions
of sale shall not be different than set forth in the
bona fide offer previously sent to Timothy J. Tehan and
the other owners; (ii) if the sale is not consummated
within thirty (30) days after the option of Timothy J.
Tehan and the other owners expire, the interest shall
once again be subject to the restrictions herein; and
any transferee of the Selling Owner’s interest shall
automatically be bound by the terms of this Agreement
and shall be required to join in, execute, acknowledge
and deliver a copy of this Agreement, and he/she shall
thereupon become an owner.
3. Sale of Property. At such time as Timothy J.
Tehan ceases to occupy the Property, the Property shall
be sold and the net proceeds of sale shall be allocated
and distributed among the Owners in proportion to their
percentage of ownership interest. [Reproduced liter-
ally.]
On or about November 5, 1997, decedent executed a deed
(first deed), which was recorded. That deed provided in perti-
nent part:
Witnesseth, that for no consideration, the Grantor
[decedent] does hereby grant and convey unto each of
the Grantees [decedent’s children], in fee simple and
as tenants in common, an undivided 4.5% interest, in
and to that piece or parcel of improved land [dece-
dent’s residence] * * *.
On or about January 2, 1998, decedent executed a second deed
(second deed), which was recorded. That deed provided in perti-
nent part:
Witnesseth, that for no consideration, the Grantor
[decedent] does hereby grant and convey unto each of
the Grantees [decedent’s children], in fee simple and
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Last modified: May 25, 2011