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Land Lease Agreement 2

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Land Lease Agreement 2 Page 2
Land Lease Agreement 2
2
(i) TERM: The term of the lease shall be three (3) years with an additional
one (1) year automatic extension provided; however, in the event that
Tenant ceases using the Property for the permitted use as described in this
Agreement the lease shall expire within ninety (90) days of written notice
from Landlord to Tenant and, after the expiration of the initial three (3)
year term, Landlord may, in its sole discretion, unilaterally terminate this
lease by giving Tenant six (6) months’ written notice of termination.
The lease shall expire within ninety (90) days of written notice from
Landlord to Tenant, if Landlord determines that the property is not being
used according to the permitted uses by Tenant or Tenant’s agents or
assigns. Landlord reserves the right to unilaterally terminate this
Agreement upon the expiration of the initial three (3) year term, by giving
Tenant six (6) months written notice of termination.
(j) COMMENCEMENT DATE: January 22, 2008.
(k) ANNUAL RENT: One Dollar ($1) annually payable on or before July 1 of
each year.
(l) SECURITY DEPOSIT: None
1.2 Exhibits. The following exhibits are attached to this Lease and are made part of
this Lease:
Exhibit A: Description and Depiction of the Land.
Exhibit B: Improvements for Permitted Use.
ARTICLE 2--AGREEMENT AND USE
2.1 Lease. Landlord hereby demises and leases to Tenant the Land, and Tenant shall
lease the Land from Landlord, according to the terms and conditions of this Lease Agreement.
The duration of this Lease will be for the Term described in section 1.1.(i).
2.2 Use. Tenant shall use the Land only for the Permitted Use. Tenant shall not
allow the Land to be used for any unlawful purposes. Tenant will not commit waste and will not
create any nuisance or interfere with, annoy or disturb any other tenant of Landlord’s Property.
Tenant shall not erect signs or other improvements on the Land without the approval of
Landlord, which approval may be withheld in the sole discretion of Landlord, unless such signs
are required by state or federal law, in which case such approval shall not be unreasonably
withheld or delayed. Tenant will keep and maintain the Improvements in good condition and
repair. Tenant will keep the Land free from all trash, debris, and waste. Landlord will provide
Tenant with access to the Land twenty-four (24) hours per day, seven (7) days a week, three
hundred sixty-five (365) days a year, subject to limitations set forth in Section 2.5 of this
agreement. Notwithstanding anything to the contrary contained in this Lease Agreement, if, in
the exercise of any rights hereunder, Tenant, its licensee, or agents shall cause damage to the
Landlord's Property or any equipment located on Landlord’s Property, Tenant shall, within ten
Land Lease Agreement 2
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