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<br />� � � 76- OU59 "l �
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<br /> ARTICLc I
<br /> , Nuture Of Obligation ; 'ferm And Rent
<br /> Section 1 . 01 . Descriptian of Interest in llemised Premises . The Lessor
<br /> r� hereby demises , leases and rents to the Company , as Lessee hereundcr , and the Coaipany
<br /> hereby tukes , accepts �nd rents the Demised Premises from the Lessor , upon and subjec [
<br /> �.; to tlie terms , covennnts , conditons and provisions hereinafter stated und the following
<br /> �{ limitations , restrictions , reserva [ions and encumbrances :
<br /> � (a) all covenants , easements , encumbrances , defects of. title , reservations , `
<br /> restrictions and conditions affecting the �ahole or any part of the Demised Ptemises '
<br /> ;i which exist at the date of [he delivery of this Lease ;
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<br /> # (b ) all present and £uture Federal , state , county or vilinge laws , ordinances ,
<br /> regulations , orders , assessmen[s and levies affecting the whole or any purt of tlie
<br /> ii Project or thc use thereof ; and
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<br /> � : (c ) the right hereby reserved for the Lessor , its officers , employees ,
<br /> �� consultants , contractors and their employees , subcontractors , materialmen and oCher
<br /> � authorized representatives , to enter and use the Demised Premises to the extent
<br /> -; reasonably necessury for , and during the period of , the acquisition and construction
<br /> � of the Yroject .
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<br /> � Secti'on 1 . 02 . Excluded Property . The Demised Premises sliall not include
<br /> :� such buildings , structures , improvements , machinery and equipment and other property �
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<br /> `3 siCuated in or upon ttie Demised Premises owned by L-he Company on [he daCe of ehis Lease
<br /> :° and itemized in said Inventory of Project Froperty O�aned by tlie Company , and such
<br /> ' additional property as from time to time may be provided by the Company at iCs own
<br /> ' cost nnd expense and is tagged or othenaise identiPied and added to such Inventory of
<br /> �` Project Property Owned by the Company , as furcher provided in Section 3 . Ol .of tliis Leuse .
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<br /> ; Section 1 . 03 . Term af Lease . Ttie term of this I,ease shall commence at
<br /> '' 12 : 01 a . m . on the ist day of OctoUer , 1976 , and expire at 12 : 01 a . m . on the lst day
<br /> ? of October , 198G , unless earlier terminated pursuant to the provisions hereof . The term
<br /> � of this Lease may be extended , in the event additional bunds shall be issued pursuant
<br /> ';; to Section 210 of the Ptortgage in accordance with sucli au�endment hereof as shall be
<br /> . . executed by and Uetween the I.essor and this Company , as provided in the Atortgage and
<br /> ; ' ` ' this Lease . Thc terms " term of this Lease" shall mean , unless some ottter meaning is �
<br /> � � plainly intended , such term above stated or as earlier terminated in conformity wi [h
<br /> - -:;? this I.ease .
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<br /> `; Section 1 . 04 . Rent FayaUle ; Basic Itent • �ldditional Rent . The Company
<br /> ; covenants and agrees to pay as rent for the Demised Premises for the tcrm of this Le�se
<br /> , ;tt the IIasic Rent (herein called " Basic Rent " ) and the Additional Rent (lierein called
<br /> "Additional Rent" ) as hereinbelow defined ( the word " rent" ns used in this Lcase
<br /> meaning collectively the IIasic Rent and Additional Rent ) .
<br /> � The Snsic Rent shall , in the aggrega [c , Ue an amount sufficient for the
<br /> • ' payment in full of all the IIonds Erom time to time issucd undcr the rtortgage and then
<br /> : '=� outstunding (herein referred to as "Amortization Requircment " ) including ( i ) the total
<br /> %`� interest becoming due and payable on tlie llonds to thc respective dates of yayment
<br /> � ;, tttereof ; ( ii ) tttc Cotal principal amount of the Bonds and ( iii ) [he redemption premium ,
<br /> if uny , that shall be paid on the redemption of bonds prior to their maturity , less thc
<br /> � amount of other funds available for the payment of the Bonds , as provided in the
<br /> < ;; Mortgage . A Basic Rent Schedule with respect to the Series A Bouds is appended hereto
<br /> as Exhibit B .
<br /> ' The Basic Rent shall be due nnd payable , in semiannual installments , fiftecn
<br /> t days before each interest payment date on the llonds . Each sen�iannual installment of
<br /> Basic Rent payable by the Company hcreunder shall Ue in an amount which , with otl�cr
<br /> funds in the Bond Fund then availaUle tor thc payment of 13onds , shall be sufPicicn[ to
<br /> provide for the payment in full of the intcrest on [he I�onds and the principal on the
<br /> Bonds as they become due and payable in L' he years and amounts prescribed in the Dlortga�e ,
<br /> y�' all in conformity with the Pior [gage . `. f
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