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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 from 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 more than 1.5% 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 of Purchase Option. The term of the Purchase Option shall commence upon the 1 “ <br />day of the 13th 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. 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 />129264411 <br />11