Atlantic Greyhound Corp. v. Smithdeal

HAYES, District Judge.

This controversy arises over the interpretation of a written contract by the terms of which the defendants leased certain unimproved real estate to the plaintiff for a term of fifteen years at a fixed rent per month throughout the entire term, but plaintiff was to erect the improvements for a bus station and pay the taxes. The agreement also contained an option to purchase the premises as follows: (1) during the first year the purchase price was $140,000 and $2,000 more each year or $168,000, if not purchased until the fifteenth year; (2) during the first five years no…