75A - AGMT FOR 99 YEAR LEASE AT 1901 W WALNUT

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fees and purchase price of the premises. Upon exercise of this Option by Tenant, a closing shall take place within 60-days after City Council approval of a purchase agreement. Before the closing date, Tenant shall provide evidence of financing to purchase the Property. In the event., Tenant's reasonable efforts were unable to procure financing, the deposit shall be retained by the Lessor as liquidated damages. Whether or not the sale of the Property successfully closes, all expenses relating to the sale and to the closing, including, but not limited to, all appraisal and escrow fees, shall be borne by Tenant. Notwithstanding the forgoing, the City reserves the right to make a determination as to the validity of this Option, and to exercise this Option, in accordance with all laws and regulations prior to authorizing a purchase agreement. ARTICLE III I N D1►0 3.1 Rent. Throughout the ninety-nine (99) year Term of this Lease, regardless of an earlier termination date, Lessor shall lease the Premises to the Tenant for the Project, and the Tenant shall accept the lease of the Premises from the Lessor, at a Rent of one dollar and zero cents ($1.00) per month, pursuant to the terms and conditions of this Lease. 3.2 Triple Net Rent. It is the intent of the Parties that all Rent shall be absolutely net to Lessor and that, except as otherwise provided herein, Tenant will pay all costs, charges, insurance premiums, taxes, utilities, expenses and assessments of every kind and nature ("Tenant Costs") incurred for, against or in connection with the Premises which arise or become due during the Term as a result of Tenant's use and occupancy of the Premises. Tenant shall pay all Tenant Costs during the Term prior to delinquency. Tenant agrees to indemnify and hold harmless Lessor against any liability, claim, or demand for the late payment or non-payment of any Tenant Costs. Under no circumstances or conditions, whether now existing or hereafter arising, or whether beyond the present contemplation of the Parties, shall Lessor be obligated or required to make any payment of any kind whatsoever or be under any other obligation or liability under this Lease except as expressly provided herein. 3.3 Insufficient Funds. If any payment of Rent or other fees made by check is returned due to insufficient funds or otherwise, Lessor shall have the right to require Tenant to make all subsequent Rent payments by cashier's check, certified check or automated clearing house debit system. All Rent or other fees shall be paid in lawful money of the United States of America, without offset or deduction or prior notice or demand. No payment by Tenant or receipt by Lessor of a lesser amount than the Rent or other fees due shall be deemed to be other than on account of the Rent or other fees due, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Lessor shall accept such check or payment without prejudice to Lessor's right to recover the balance of the Rent or other fees or pursue any other remedy available to the Lessor in this Lease. Page 18 75A-55