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<br />AA.~'Z~LE Z <br />GRANTING OF LEASEHOLD " <br />Lessor hereby leases to Lessee, and Lessee hereby <br />leases from Lessor upon and subject to the terms and conditions <br />hereinafter set forth, the Project for a basic term of sixteen <br />(16~ years beginning as of July 1, 1979, and ending on Juiy 1, <br />1995, Lessee shall have such rights in respect of options ±o <br />extend the term as are hereinafter prescribed in Article X <br />hereof. <br />The said Project consists of the land described on <br />Exhibit "A" and the buildings and improvements to be constructed <br />on such land pursuant hereto, including all additions, substitu- <br />tions and replacements thereto and also includes all furniture, <br />machinery, equipment and other personal property provided pursuant <br />to the terms of this Lease Agreement for use in connection with <br />the Project and all additions, substitutions and replacements <br />therefor. <br />-3- <br />