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, , ( '. .. 200511152 5. Term. The initial term of this Ground Lease sba.H be for a period of five (5) years ("Term") comm~cing on the date that construction of the Site Compound begins (the "Commencement Date"), and shan terminate on the fifth (5Ih) anniversary of the Commencement Date, unless sooner terminllted in accordance with this Ground Lease. Lessee shall have the right to renew the Ground Lease for four (4) successive five (5) year periods (each a "Renewal Term"), upon the same tenns and conditions in effect during the Term. This Ground Lease shall automatically renew for each successive Renewal Term unless Lessee provides written Dotice to Lessor of its intention not to renew at least thirty (30) days prior to the expiration of the Term or any Renewal Term. 6. Rent. Lessee agrees to pay to Lessor as annual rent the sum of Six Thousand Dollars ($6000.00) ("Rent") payable in equal montWy instaUments on the first day .of each calendar month during the Term and any Renewal Term" except that the first payment of Rent shall be made within ten (10) business days following the Commencement Date as defined in section 5 hereto. In the event the Commencement Date does not fall on the first day of a. month, the first and last monthly payment of Rent shall be prorated accordingly. At the beginning of each Renewal Term, Rent shall increase fifteen percent (15%) over the Rent for the previous Term or Renewal Tenn. Rent payments sball be payable to Lessor at the address set forth above or at such other address as Lessor shall notify Lessee in accordance with Paragraph 15. 7. Taxes. If personal property taxes are assessed, Lessee shall pay any portion of such taxes directly attributable to the Site Compound. Lessor shall pay all real property taxes, assessments and. deferred taxes on the Property. If any increase to Lessor's real property taxes is the direct result of Lessee's improvements to the Premises. tb.en. Lessee will reimburse the Lessor its proportionate sbare of such ta..x increase provided that, as a condition of Lessee's obligation to pay such tax increases, Lessor shall provide to Lessee documentation from tho taxing authority, reasonably acceptable to Lessee, indicating that the increase is due to Lessee's improvements. 8. Insurance; .Waiver of Subroantion. . (a) Lessee, at its sole cost and expense shall provide and maintain, during the Term of this Ground Lease a:od any Renewal Terms, commercial general liability insurance with combined single limit coverage of Doe Million Dollars ($1,000,000). Lessee shall name Lessor as an additional insured on Lessee's insurance policy and provide Lessor, at its request. with an insurance .certificate. (b) Lessor and Lessee each hereby waive any rights it may- have against the ather (in the event the other party is insured and including, but not limited to, Ii direct action for damages) 00 account of any lass or damage occasioned to Lessor or Lessee, as the case may be (EVEN IF (A) SUCH LOSS OR DAMAGE IS CAUSED BY THE FAULT, NEGLIGENCE, OR OTHER TORTIOUS CONDUCT, ACTS OR OMISSIONS [EXCLUDING 'GROSS NEGLIGENCE AND WTI..LFUL MIS.cONDUCT] .OF THE RELEASED PARTY OR THE RELEASED PARTY'S DmECTORS, EMPLOYEES, AGENTS OR INVITEES AND/OR (B) THE RELEi\.SED P ARlY IS STRICTLY LIABLE FOR SUCH LOSS OR D_4.MAGE), to their respective property, the Property or the Site Compound arising from any risk (without regard to the amount of coverage or the amount of deductIble) covered by the waiving party's insurance which is in effect at the time of the loss or damage. Without in any way limiting the foregoing waivers IlDd to the extent permitted by applicable law, the parties hereto waive any right of subrogation that Lessor or Lessee may have against the other party or their respective officers, directors, employees, agents, Users, or invitees. The Lessor and Lessee will use their good faith best efforts to obtain a waiver of subrogation rights from their respective insurance Pnge3 Site Nnme and number. JalOlllDn ClIIlh-WIll' Lumb...Co.lll:!8I-471