COMMUNITY DEVELOPMENT AGENCY-2008

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the agreement of the parties as set forth in this lease, as shown in concept in Exhibit C hereto, which is incorporated herein by this reference as though fully set forth F. The City enters into this lease, in part, based upon the express finding after close of a noticed public hearing by the City Council of the City that, after consideration of all terms and conditions of this Lease, it has found and determined that the lease and the redevelopment of the Agency parcels pursuant to the Lease is the best interests of the City of Santa Ana and the health, safety and welfare of its residents, and is in accord with the public purpose and provisions of the applicable state and local laws G. The Agency enters into this lease after full conformance with the Community Redevelopment Act, California Health & Safety Code section 33000 et seq., following a duly noticed public hearing. H. At the time of approval of this lease by the City Council and the Agency Board of Directors, acquisition by Tenant of the LHA parcel had not been accomplished and its acquisition was at that time made a condition of this lease. ARTICLE 1 LEASE OF PREMISES AND TERM OF LEASE Section 1.01. Agreement to Lease For and in consideration of the rents to be paid and covenants to be performed by Tenant under this Lease, Landlord agrees to lease the Premises to Tenant, and Tenant agrees to lease the Premises from Landlord, on the terms and conditions set forth in this Lease. Except as expressly otherwise provided in this lease, "the Premises" includes the real property plus any appurtenances and easements whether recorded or unrecorded, exclusive of any Improvements now or subsequently located on the Premises, notwithstanding that any Improvements may or shall be construed as affixed to and as constituting part of the described Premises, and without regard to whether ownership of the Improvements is in Landlord or in Tenant. Section 1.02. Contingencies to Commencement of Lease The parties hereto agree and acknowledge that the lease contemplated herein cannot be achieved without the Tenant having satisfied the following contingencies, and that Tenant shall have no rights under this Lease until all of these contingencies have been satisfied: A. Tenant demonstrating, to satisfaction of City Manager and Executive Director of Agency, that it has the fmancial ability to construct and operate the Community Center and Improvements over the term of the Lease. B. Tenant obtaining all City entitlements from City. The parties further agree and acknowledge that the existence of this Lease does not in any way constrain or restrict the City's discretion to approve, approve with conditions or deny any application submitted by Tenant regarding the Community Center or Improvements. Section 1.03. Term of Lease The term of this lease shall be for a term of approximately 20 years, commencing on the execution of all of the contingencies set forth in section 1.02 above, and ending at 12:01 a.m. on September 22, 2029 ("Original Term"), unless terminated earlier pursuant to the provisions of this lease.