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day of the 13" month of the Term of the Lease (the "Purchase Option Commencement <br />Date") and shall expire on the expiration or termination of this Lease for any reason <br />whatsoever (the "Purchase Option Termination Date"). The period between the Purchase <br />Option Commencement Date and the Purchase Option Termination Date shall be referred <br />to herein as the "Purchase Option Period." The time between the Purchase Option <br />Commencement Date and the five (5) year anniversary of the commencement of the <br />Lease shall be known as the "Early Purchase Option Period." In the event Lessee fails to <br />timely exercise the Purchase Option within the Purchase Option Period, the Purchase <br />Option, and all rights of Lessee, shall immediately and automatically cease and terminate, <br />and the Purchase Option shall in that event be null and void and be of no further force or <br />effect whatsoever. Lessee may exercise the Purchase Option in the manner provided in <br />Section 69.4 below. <br />69.3. Investigations. During the Purchase Option Period, Lessee shall be permitted to <br />investigate the Premises and undertake all actions that it deems necessary or desirable to <br />ascertain the condition of the Premises which includes, but is not limited to, the <br />environmental condition of the Premises, status of title to the Premises, and the condition <br />of the improvements on the Premises. Accordingly, during the Purchase Option Period, <br />Lessee shall have, in addition to its rights as the tenant of the Premises hereunder, and is <br />hereby granted, the right to make and conduct such non-invasive surveys, studies, tests, <br />investigations, and inspections (environmental and otherwise) as Lessee deems <br />reasonably necessary or convenient; provided that Lessee may make such invasive <br />surveys, studies, tests, investigations or inspections as it deems reasonably necessary or <br />convenient only upon the prior written consent of Lessor which shall not be unreasonably <br />withheld. All such surveys, studies, tests, investigations and inspections shall be <br />performed at the sole cost and expense of Lessee and Lessee shall indemnify, defend and <br />hold Lessor harmless from and against any and all cost, expense, liability arising from or <br />in connection with any such surveys, studies, tests, investigation and inspections. <br />69.4. Exercise of Purchase Option. To exercise the Purchase Option, Lessee shall serve written <br />notice of exercise upon Lessor or Lessor's legal representatives at any time after the <br />Purchase Option Commencement Date but prior to the Purchase Option Termination <br />Date ("Notice of Exercise"), which such Notice of Exercise shall be accompanied by a <br />cash or cash equivalent in the amount of One Hundred Thousand Dollars ($100,000.00) <br />("Deposit"). The Deposit shall be invested by Escrow Holder (as defined below) in a <br />federally insured interest -bearing account with any interest accruing thereon to be paid or <br />credited to Lessee. At the Close of Purchase Option Escrow, the Deposit and any <br />accrued interest thereon shall be applied and credited toward payment of the Purchase <br />Price. The Notice of Exercise shall provide at least 90-120 days for Lessor to locate an <br />exchange property prior to the Closing of the Purchase Option Escrow, <br />69.5. Escrow. if Lessee timely exercises the Purchase Option by the timely delivery of the <br />Notice of Exercise and the Deposit, Lessor and Lessee shall immediately open an escrow <br />("Option Escrow") with Chicago Title Company ("Escrow Holder", the specific escrow <br />officer being chosen by Lessor, or Lessor may choose such other escrow or title company <br />in its reasonable discretion upon written notice to Lessee, which such escrow or title <br />company shall be subject to Lessee's approval, which will not be unreasonably withheld, <br />conditioned or delayed), whereupon the Deposit shall be delivered to Escrow Holder. <br />This Agreement shall constitutejoint escrow instructions to Escrow Holder with respect <br />to the purchase and sale of the Premises. The parties shall execute such additional <br />escrow instructions which are not inconsistent with the provisions of this Agreement and <br />10 <br />12311947 1/48581-00004 <br />