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LEGAL DEPARTMENT <br /> <br />CITY OF MARTINSVILLE, <br />VIRGINIA <br /> <br />hereto, within ninety (90) days from the date of this agreement for a price of not less than <br />Ninety-eight Thousand Nine Hundred and Sixty Dollars ($98,960.00) and not more than One <br />Hundred Fifty Thousand Dollars ($150,000.00). <br /> <br /> 3. The party of the second part shall be responsible for any and all repairs and <br />maintenance of the premises, except for those repairs which are structural in nature. <br /> <br /> 4. The party of the second part shall obtain an insurance policy on the premises listing <br />the party of the first part, and its Lessors, as additional insureds, and on the party of the <br />second part's personal property at the expense of the party of the second part. <br /> <br /> 5. All utilities shall be maintained in the party of the second part's name and shall be <br />the responsibility of the party of the second part. <br /> <br /> 6. The party of the second part agrees that upon the termination of its use of the <br />premises for conducting its motor sports training program that it will leave the premises in as <br />good a condition as it found them, normal wear and tear excepted. <br /> <br /> IN WITNESS WI-EEREOF, the party of the first part has caused this memorandum to <br />be executed by Mark A. Crabtree, D.D.S., its Chairman, and Patrick Henry Community <br />College has caused this memorandum to be executed by Joanne Whitley, its Dean, this the <br />day and year first above written. <br /> <br />MARTINSVILLE REDEVELOPMENT AND <br />HOUSING AUTHORITY <br /> <br />By. <br /> <br />Mark A. Crabtree, D.D.S., its Chairman <br /> <br /> <br />