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200510853 the purchaser of the Building Bonds under the terms of the Bond Purchase Agreement. WHEREFORE, IN CONSIDERATION of the premises and the mutual covenants and agreements herein set forth, Lessor and Lessee do hereby covenant and agree as follows: ARTICLE I GRANTING OF EASEMENT AND GRANTING OF LEASEHOLD Section 1.01(a) Lessee hereby covenants and warrants that it has fun right, title and authority to grant the license and easement rights granted in this Section 1.01(a) and further covenants and warrants that it will defend such rights in Lessor against the claims of all persons whomsoever. Lessee (as easement grantor) hereby grants to Lessor (in the separate capacity of easement grantee) a license and easement with respect to the tracts ofreal estate located in the City of Grand Island, Hall County, Nebraska, which are described as the Site for the Project on Exhibit A hereto attached and incorporated by reference herein, for the location, construction, acquisition, installation, operation and maintenance of improvements, structures, goods which are to become fixtures, fixtures and equipment constituting the Project, being an of property constituting the Project, is to be leased and sold by Lessor to the City pursuant to this Agreement. Such license and easement shall include fun access and use by Lessor (as grantee and its licensees and invitees and shan permit all actions necessary or incidental to the location, construction, acquisition, installation, operation and maintenance of the Project. The Project as financed from the proceeds of Lessor's Building Bonds is hereby acknowledged to be the separate property of the Lessor, subject to the rights provided for Lessee under the terms of this Agreement. This license and easement shan continue until August 15,2025 unless all of the Building Bonds and any refunding bonds issued by Lessor to refund the Building Bonds (whether one such series or more) have been paid in full. (b) Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, upon and subject to the terms and conditions hereinafter set forth, the Project, as and to the extent constructed and acquired under the terms of this Agreement. Lessor shan lease the Project to Lessee for a term beginning on date of issuance of the Building Bonds and ending on August 15, 2025 (subject to modification to any lesser term as may be provided for in the Addendum). Until payment in full of an rental obligations hereunder the Project shall remain the property of the Lessor and shan not become a part of the real estate described on Exhibit A hereto attached. Upon the final payment of all rental obligations under this Agreement the Project shall be conveyed to Lessee in accordance with Article XVIII hereof. Section 1.02. Lessor and Lessee agree that, as and to the extent that this Agreement may be regarded as relating to goods, goods which may become fixtures, fixtures, furniture or equipment, this Agreement as assigned to the Trustee shan constitute a "finance lease" within the meaning of such term as used in Article 2A of the Nebraska Uniform Commercial Code. In such connection Lessee acknowledges (a) that neither Lessor nor the Trustee has selected, manufactured or supplied any goods constituting the Project, (b) that Lessor is acquiring the Project in connection with this Agreement and (c) that Lessee has received a copy of Lessor's contract with the contractor constructing the Project prior to the execution of this Agreement. Lessee further acknowledges that Lessee has been informed in writing before the execution of this Agreement that Lessee is entitled 3