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69.1. Purchase Price. The Purchase Price for the Premises shall be equal to the sum of
<br />$9,200,000 (the "Initial Price") plus the Increase Amount (as defined below) (said Initial
<br />Price plus the Increase Amount, if any, being the "Purchase Price"), payable in cash at
<br />Closing (as defined below); provided, however, that the Initial Price is based in part upon
<br />Lessor's original purchase price of the Premises and in the event that Lessor receives any
<br />monies back in respect thereof from its seller as set forth in its original purchase
<br />agreement, the Initial Price shall be reduced by said amount so received. The "Increase
<br />Amount" shall be the amount equal to 50% of the increase in the Consumer Price Index
<br />for all Urban Consumers for the Los Angeles -Anaheim -Riverside area, all items
<br />published by the United States Department of Labor, Bureau of Labor Statistics (1982-
<br />84-100) ("Index") from May 2020 ("Base Index") to the date of the Notice of Exercise
<br />(as defined below); such increase to be calculated by taking the Initial Price and
<br />multiplying it by a fraction, the numerator being the Base Index, and the denominator
<br />being the Index published for the month in which the Notice of Exercise is delivered, if
<br />the Index is changed so the Index differs &am that used as of the date hereof, the Index
<br />shall be converted under the conversion factor published by the United States Department
<br />of Labor, Bureau of Labor Statistics, if the Index Is discontinued or revised during the
<br />Lease Term, such other governmental Index or computation with which it is replaced
<br />shall be used to obtain substantially the same results as would be obtained if the Index
<br />had not been discontinued or revised. Notwithstanding the foregoing, the Increase
<br />Amount shall not increase the Initial Price by an amount equal to mono than 1.501* per
<br />year (non -compounding). Additionally, in the event Lessor receives funds for the
<br />Regulatory Safety Permit, the Purchase Price shall be reduced by $1,000,000 or the
<br />amount of such funds that are received by Lessor, provided, however, that any interest
<br />collected by Lessor in connection with such Regulatory Safety Permit amount shall not
<br />be included in the reduction of such Purchase Price.
<br />69.2. Term or Purchase Option. The term of the Purchase Option shall commence upon the I °
<br />day of the 131h month of the Term of the Lease (the "Purchase Option Commencement
<br />Date") and shall expire on the earlier of (a) the five (5) year anniversary of the
<br />Commencement Date and (b) 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" In the event Lessee fails to timely exercise the
<br />Purchase Option within the Purchase Option Period, the Purchase Option, and all rights
<br />of Lessee, shall immediately and automatically cease and terminate, and the Purchase
<br />Option shall in that event be null and void and be of no further force or effect whatsoever.
<br />Lessee may exercise the Purchase Option only in the manner provided in Section 69.4
<br />below.
<br />69.3. InvesU ati�ons. During the Purchase Option Period, Lessee shall be permitted to
<br />investigate the Premises and undertake all actions that it deems necessary ordesirable 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 />026447,1
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