Loyal Christian Benefit Ass'n v. Bender

HESTER, Judge:

This appeal was taken from an order sustaining a motion for summary judgment. For the reasons that follow, we affirm.

On August 28, 1981, appellants, Peach Street Investors, and appellee, Loyal Christian Benefit Association, entered into a written agreement whereby appellants agreed to assign their leasehold interest in approximately 10,500 square feet of land situated at 700 Peach Street in Erie, Pennsylvania in exchange for appellee’s payment of $1,350,-000.00. Included among appellants’ interests was the option to purchase the land at the termination of the lease. The purchase…