Any matters which by the terms of the option are made conditions precedent to its exercise must be strictly observed1. Thus, the notice must be given within the specified period2; and, if payment of the purchase money at the expiration of the notice is made a condition precedent, the payment must be duly made3. It is not essential that the tenant is to have performed all the stipulations of the lease, unless that performance is made a condition precedent4. If performance of the covenants is made a condition precedent, the tenant satisfies the condition if there are no subsisting
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