Deutsch

Plaintiffs appeal from an order sustaining the general demurrer of defendant Phillips Petroleum Company and dismissing plaintiffs’ amended unlawful detainer complaint against this defendant.

Facts

On December 19, 1973, plaintiffs purchased the commercial real property located at 16103 Ventura Boulevard, Encino, California which is the subject of this lawsuit. Plaintiffs also acquired an assignment of the lessor’s interest in a lease of said premises, dated June 21, 1955, between plaintiffs’ grantor, Ohio National Life Insurance Company, and assignor, Tidewater Associated Oil Company (Tidewater). This lease, which provided for fixed monthly rentals, gave Tidewater of the subject property for a 25-year period. Paragraph 11 of the lease granted Tidewater an option to purchase the subject property exercisable “at the expiration of the 15th or any subsequent year of the [lease] ... by giving Lessor 180 days prior written notice of the intention so to do and by paying to Lessor at the time of such purchase the sum of $1.00 plus a sum equal to such balance of Lessor’s cost of the demised premises [stated elsewhere as $83,700] ... as would then remain unamortized if such cost…