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Lease <br /> "Lease" means this Lease dated as of March 1, 1994, by and between the City <br /> and the Authority, as originally executed and as it may from time to time be amended or <br /> supplemented in accordance herewith. <br /> Leased Property <br /> "Leased Property" means the Parcels and the Project(as the same may be changed <br /> from time to time by Removal or Substitution). <br /> Net Proceeds <br /> "Net Proceeds" means any insurance proceeds or condemnation award paid with <br /> respect to the Leased Property remaining after payment therefrom of all expenses incurred in <br /> the collection thereof. <br /> Opinion of Counsel <br /> "Opinion of Counsel" means a written opinion of counsel of recognized national <br /> standing in the field of law relating to municipal bonds, appointed and paid by the City. <br /> Parcel A <br /> "Parcel A" means the real property identified as Parcel A in Exhibit A hereto <br /> upon which the Project is to be built. <br /> Parcels <br /> "Parcels" means the real property, together with any improvements thereon or to <br /> be located thereon, as described in Exhibit A hereto. <br /> Permitted Encumbrances <br /> "Permitted Encumbrances" means, as of any particular time: (i) liens for general <br /> ad valorem taxes and assessments, if any, not then delinquent, or which the City may, pursuant <br /> to Section 6.02, permit to remain unpaid; (ii) the Ground Lease; (iii) this Lease; (iv) the <br /> Assignment Agreement; (v) any right or claim of any mechanic, laborer, materialman, supplier <br /> or vendor not filed or perfected in the manner prescribed by law; (vi) easements, rights•of way, <br /> mineral rights, drilling rights and other rights, reservations, covenants, conditions or restrictions <br /> which exist of record as of the date of initial issuance of the Bonds and which an independent <br /> third party certifies in writing will not materially impair the use of the Leased Property by the <br /> City; and (vii) easements, rights of way, mineral rights, drilling rights and other rights, <br /> reservations, covenants, conditions or restrictions established following the date of recordation <br /> of this J ease and to which the Authority and the City consent in writing. <br /> LAI-63219.5 3 <br />