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thereto, to be leased to Tenant pursuant to this Lease and on which Tenant intends to construct the <br />Improvements. The legal description of the Premises is attached hereto as Exhibit A. <br />1.1.26. "Project" shall mean the Improvements, and all related appurtenances, <br />constructed by Tenant on the Premises. <br />1.1.27. "Rent" shall mean one dollar and zero cents ($1.00) per month, pursuant to <br />the terms and conditions of this Lease, due and payable from Tenant to Lessor for lease of the <br />Premises to the Tenant for the Project. <br />1.1.28. "Risk Manager" shall mean the Risk Manager for the City, or designee, or <br />upon written notice to Tenant, such other person as may be designated by the City Council. <br />1.1.29. "Tenant Ownership Change" shall mean (a) any transfer or assignment by <br />Tenant of the Leasehold Estate or (b) any "Aggregate Transfer" of at least twenty five percent <br />(25%) of the "Ownership hiterest(s)" in Tenant, in each case that is not an "Excluded Transfer." <br />1.1.30. "Term" is defined in Section 2.2. <br />1.1.31. "Transfer" is defined in Section 10.1. <br />1.1.32. "Transfer Notice" is defined in Section 10.4. <br />1.1.33. "Work" shall mean both Tenant's construction activity with respect to the <br />Improvements, including permitted future changes, alterations and renovations thereto and also <br />including, without limiting the generality of the foregoing, site preparation, landscaping, <br />installation of utilities, street construction or improvement and grading or filling in or on the <br />Premises. <br />ARTICLE II <br />LEASE OF PROPERTY <br />2.1 Lease of Premises. <br />2.1.1. Lessor hereby leases the Premises to Tenant for the Term, and Tenant hereby <br />leases the Premises from Lessor for the Term, subject to the terms, conditions, covenants, <br />restrictions and reservations of this Lease. <br />2.1.2. Warranty of Peaceful Possession. Lessor covenants and warrants that, <br />subject to the Tenant's payment of Rent and performance and observation of all of the covenants, <br />obligations and agreements herein contained and provided to Tenant, Tenant shall and may <br />peaceably and quietly have, hold, occupy, use and enjoy the Premises during the Term and may <br />exercise all of its rights hereunder. Except as otherwise set forth herein, the Lessor covenants and <br />agrees that it shall not grant any mortgage or lien on or in respect of its fee interest in the Premises <br />unless the same is expressly subject and subordinate to this Lease. <br />Page 16 <br />75A-53 <br />