Schnee v. Elston Et Ux.

Opinion by

Mr. Justice Simpson,

On March 31, 1927, Harry E. Elston, hereinafter called defendant, was the owner of the buildings and premises 58, 60 and 62 East Main Street, Norristown, Pa. On that day defendant leased them to plaintiffs for a term of ten years, the lease also giving the latter an option to purchase the properties in fee simple at any time during the term of the lease, for the price of $225,-000. It further provided that plaintiffs should “keep the buildings on the premises insured against loss by fire, in the amount of $87,500, said insurance to be made payable to [defendant,…