DELHI CENTER - DELHI PARK CONSTRUCTION AND FUNDING AGMT-2000

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Section 1.03. Term of Lease The term of this lease shall be for a term of 20 years, commencing at 12:01 am. on September 6, 2000 ( "Commencement Date ") and ending at 12:01 A.M. on September 5, 2020 ( "Original Term "), unless terminated earlier pursuant to the provisions of this lease. Section 1.04. Extended Term In the event Tenant is not then in default under this lease, Tenant shall have the option and right to extend the Original Term of this lease for a period of 20 years and 10 years, respectively, commencing on the expiration of the Original Term and /or Extended term. If Tenant elects to extend the term of this lease, Tenant must give Landlord written notice of Tenant's election to extend at least 30 days before expiration of the Original Term and /or Extended Term. The written notice shall be deemed effective on personal delivery to Landlord at the Office of the Clerk of the Council or on the date it is deposited in the United States mail in accordance with the provisions of Section 12.03. During the Extended Term of this lease, if any, Landlord and Tenant shall be bound by all of the obligations, covenants, and agreements of this lease except that Tenant shall have no right to further extend the term of this lease beyond or after expiration of the second extended term granted under this section, unless agreed to in writing by the City and Delhi. References throughout this lease to "the term of this lease" shall include both the Original Term and the Extended Terms, if any, unless otherwise indicated. Section 1.05. Holding Over In the event Tenant holds over and continues in possession of the Premises after expiration of the Original Term, when Tenant has not validly exercised its option to extend the term of the lease in accordance with Section 1.03; or after expiration of the Extended Term, when Tenant has validly exercised its option to extend the term of the lease in accordance with Section 1.04, Tenant's continued occupancy of the Premises shall be considered a month -to -month tenancy subject to all the terms and conditions of this lease. ARTICLE 2 RENT Section 2.01. Annual Rent Tenant agrees to pay Landlord annual rent ( "Annual Rent ") for each year during the term of this lease in the amount of $1.00 (One Dollar) per year for each year of this lease, including each ensuing year of this lease subject to the option to renew, pursuant to Section 1.04 of this lease. Section 2.02 RESERVED Section 2.03. Time and Place for Payment of Rent All Annual Rent provided for in Section 2.01 of this lease shall be paid by Tenant on an annual basis on the first day of each calendar year. Tenant may elect to pay the Rill amount due under the term of this lease on the original date of execution of this lease. All rent required under this lease shall be paid to Landlord at 20 Civic Center Plaza, M -30, Santa Ana, California, or any other place or places that Landlord may designate by written notice to Tenant. Section 2.04. RESERVED