Common use of Condominium Clause in Contracts

Condominium. (a) A Declaration of Condominium Ownership (the “Declaration”) of Williamsburg Village was recorded in the Office of the Recorder of Deeds of C▇▇▇ County, Illinois, on January 4, 1983, and thereupon the property within which the Premises are located became subject to (i) the terms and provisions of the Declaration, (ii) the Condominium Property Act of the State of Illinois (the “Act”), (iii) the By-Laws (the “By-Laws”) of the Williamsburg Village Owners Association (the “Association”) and (iv) the rules and regulations of the Association (the “Rules”). The Declaration, the Act, the By-Laws and the Rules, as from time to time amended, are sometimes collectively called the “Condominium Documents”. Tenant acknowledges receipt of a copy of the Declaration, the By-Laws and the Rules. Landlord’s space within the Building is sometimes called the “Condominium Unit”. All the condominium property of which the Condominium Unit is a part, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those in the Condominium Documents, the definitions in the Condominium Documents shall control. (b) Tenant accepts this Lease subject to all of the terms and restrictions of the Condominium Documents and agrees to comply with and perform each of the terms, covenants and conditions of the Condominium Documents relating to the use or occupancy of the Premises. If pursuant to the Condominium Documents, the Condominium Unit is withdrawn from the provisions of the Declaration, Landlord, at its option, may terminate this Lease effective upon the date of such withdrawal. Landlord shall not be obligated for the performance by the Board of Managers of the Association (the “Board”) or of any of the obligations assumed or undertaken by the Board pursuant to the Condominium Documents and Tenant shall have no claim against Landlord by reason of any default under the Condominium Documents by the Board or the Association. By the execution of this Lease, Tenant agrees that the Association and Board are and shall be third party beneficiaries of the provisions of this Lease. (c) The Declaration requires the approval of all leases by the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, this Lease shall become null and void. Tenant agrees to cooperate with Landlord in attempting to procure such approval and shall provide such information as is requested by the Board. (d) This Lease does not grant any rights to Tenant to participate in the management or affairs of the Association, including, but not limited to any voting rights enjoyed by the Landlord.

Condominium. (a) A Pursuant to a Declaration of Condominium Ownership (the “"Declaration”") of Williamsburg Village was covering the Building dated December 7, 1987 and recorded April 26, 1988 on Reel 1394, Page 453 in the Office of the Recorder Register of Deeds the City of CNew York, the demised premises constitutes a portion of the Commercial Condominium Unit of the CitySpire Condominium (the "Condominium"), consisting of portions of the subcellar, cellar, ground floor and floors two (2) through twenty-four (24) of the condominium building known as 156 ▇▇▇▇ County▇▇▇▇ ▇▇▇▇▇▇, Illinois▇▇▇ ▇▇▇▇, on January 4, 1983, ▇▇▇ ▇▇▇▇ (▇▇e "Building") and thereupon of an interest in the property within which common elements of the Premises are located became Building appurtenant to the Unit. Tenant acknowledges that its right to use and occupy the demised premises is subject and subordinate in all respects to (i) the terms and provisions of the Declaration, (ii) Declaration and the by-laws adopted by the Condominium Property Act of the State of Illinois (the “Act”"By-laws") and to such other rules and regulations as the Board of Managers may from time to time promulgate (the "Condominium Rules and Regulations"), (iii) the By-Laws (the “By-Laws”) of the Williamsburg Village Owners Association (the “Association”) and (iv) including without limitation, the rules and regulations of the Association (the “Rules”). The Declaration, the Act, the By-Laws and the Rules, attached hereto as from time to time amended, are sometimes collectively called the “Condominium Documents”. Tenant acknowledges receipt of a copy of the Declaration, the By-Laws and the Rules. Landlord’s space within the Building is sometimes called the “Condominium Unit”. All the condominium property of which the Condominium Unit is a part, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those in the Condominium Documents, the definitions in the Condominium Documents shall control.Schedule E. Landlord agrees to (b) Tenant accepts this Lease subject to all acknowledges that the remaining portion of the terms and restrictions Building (other than the balance of the Unit and other than the Garage Condominium Documents and agrees to comply with and perform each Unit) is used as a first-class, high-quality residential condominium. Tenant's use of the termsdemised premises shall, covenants and conditions at all times, be in keeping with the residential nature of the Condominium Documents relating Building and shall not cause any annoyance or disturbance to the use or occupancy residents thereof. (c) To the extent that the obligations set forth in this lease on the part of Landlord to be performed, including without limitation any obligations with respect to services and the maintenance, repair and restoration of the Premises. If pursuant to the Condominium DocumentsBuilding and Building systems, the Condominium Unit is withdrawn from are, in accordance with the provisions of the DeclarationDeclaration and By-laws, Landlord, at its option, may terminate this Lease effective upon in fact the date obligations of such withdrawalthe Condominium regime. Landlord shall not be obligated responsible for the performance by the Board of Managers of the Association (the “Board”) or of any of the such obligations assumed or undertaken by the Board pursuant and Tenant agrees to look solely to the Condominium Documents and regime for the performance of such obligations. Landlord shall in no event be liable to Tenant nor shall have no claim against Landlord by reason the obligations of Tenant hereunder be impaired or the performance thereof excused because of any default under failure or delay on the Condominium Documents regime's part in performing such obligations. If however Landlord concurs with Tenant that there is a default in the performance of any such obligation, Landlord shall make a reasonable effort to obtain compliance with any such obligation by the Board or the Association. By the execution of this Lease, Tenant agrees that the Association and Board are and shall be third party beneficiaries of the provisions of this LeaseCondominium regime. (c) The Declaration requires the approval of all leases by the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, this Lease shall become null and void. Tenant agrees to cooperate with Landlord in attempting to procure such approval and shall provide such information as is requested by the Board. (d) This Lease does not grant any rights to Tenant to participate in the management or affairs of the Association, including, but not limited to any voting rights enjoyed by the Landlord.

Condominium. 39.01. On or about December 19, 2000, the Land and the Building were subjected to the provisions of Article 9-B of the New York Real Property Law (aherein called the “Condominium Act”), thereby creating The One Liberty Plaza Condominium (herein called the “Condominium”) A in accordance with that certain Declaration of Establishing a Plan for Condominium Ownership of Premises Located at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ Pursuant to Article 9-B of the Real Property Law of the State of New York (herein called the “Condominium Declaration”). The units of the Condominium are sometimes referred to herein individually as a “Unit” and collectively as “Units.” The Condominium was formed for the sole purpose of facilitating the receipt by a tenant of the Building (herein called the “Tax-Benefit Tenant”) of Williamsburg Village certain tax benefits, which was recorded in the Office of the Recorder of Deeds of C▇▇▇ County, Illinois, on January 4, 1983, and thereupon the property within which the Premises are located became subject to accomplished by: (i) creating the terms and provisions of the DeclarationCondominium, (ii) conveying the Condominium Property Act of Units containing the State of Illinois premises theretofore demised to the Tax-Benefit Tenant (herein called the “Act▇▇▇ Units”) to the New York City Industrial Development Agency (herein called the “▇▇▇”), a tax-exempt entity, with Landlord retaining a reversionary interest and (iii) requiring the By-Laws ▇▇▇ to immediately lease back the ▇▇▇ Units to Landlord pursuant to a lease demising to Landlord all of benefits and burdens of ownership of the ▇▇▇ Units (herein called, together with any additional such leases that may be entered into as set forth in the immediately following sentence hereof, the “By-Laws”) of the Williamsburg Village Owners Association (the “Association”) and (iv) the rules and regulations of the Association (the “Rules▇▇▇ Leaseback”). The Pursuant to Landlord’s lease with the Tax-Benefit Tenant (herein called the “Tax-Benefit Lease”), Landlord may from time to time convey additional Units to the ▇▇▇ in the same manner as set forth in the immediately preceding sentence in connection with the leasing of additional premises in the Building to the Tax-Benefit Tenant. 39.02. As more particularly set forth in the Condominium Declaration, it is intended that Landlord, as either the Actowner or the holder of an ▇▇▇ Leaseback with respect to all of the Units of the Condominium, will operate the entire Land and the entire Building as if Landlord were the owner of the entire Land and the entire Building and the Land and the Building were not owned in the condominium form of ownership. Accordingly, the terms and conditions of this Lease shall be administered in the same manner as would be the case if Landlord were the sole fee simple owner of the Land and the Building outside the condominium form of ownership and nothing contained in the Condominium Declaration (including, without limitation, the By-Laws of the Condominium annexed thereto), as same may be amended from time to time, shall be construed to increase Tenant’s obligations or diminish Tenant’s rights under this Lease. 39.03. On or about December 19, 2000, Landlord’s predecessor-in-interest, WFP One Liberty Plaza Co. L.P., entered into an agreement with The City of New York (herein called the “Tax Agreement”) pursuant to which, notwithstanding the subdivision of the pre-existing single tax lot for the Land and the Rules, Building (herein called the “Existing Tax Lot”) into individual tax lots for each of the Units (herein called the “New Tax Lots”) in connection with the formation of the Condominium: (i) the aggregate assessed real estate tax value (herein called the “Aggregate Value”) of the New Tax Lots will be the same as the assessed value that the Existing Tax Lot would have received from time to time amended, are sometimes collectively called had the “Condominium Documents”. Tenant acknowledges receipt of a copy Existing Tax Lot not been subjected to condominium status and not been subdivided into the New Tax Lots; (ii) each New Tax Lot will have an assessed real estate tax value equal to its share of the DeclarationAggregate Value, which will be the By-Laws and same percentage share assigned to the Rules. Landlord’s space within the Building is sometimes called the “Condominium Unit”. All the condominium property of which the Condominium corresponding Unit is a part, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those in the Condominium Documents, the definitions in the Condominium Documents shall control.Declaration; (biii) Tenant accepts this Lease subject Landlord will have the right to contest the Aggregate Value only with respect to all of the terms New Tax Lots in the aggregate, and restrictions will not have the right to contest the assessed real estate tax value for one or more Units on an individual basis; (iv) the City of New York will accept as valid a single application for review of assessed valuation and a single petition for judicial review of assessed valuation, each of which shall (x) aggregate the assessments of the Condominium Documents New Tax Lots, (y) state a single aggregated value for the aggregated New Tax Lots and agrees to comply with and perform each (z) be a single request for assessment reduction of the terms, covenants and conditions Aggregate Value of the New Tax Lots; (v) any reductions in the Aggregate Value will be apportioned in accordance with the percentage shares assigned to the Units in the Condominium Documents Declaration; and (vi) the income and expense statements required pursuant to Section 11-208.1 of the Administrative Code of the City of New York and any other statements, documents or instruments required to be submitted by Landlord relating to the use or occupancy assessment of real estate taxes shall in each case be submitted for all of the PremisesNew Tax Lots as a single whole, and not for any individual Unit. 39.04. If pursuant Notwithstanding anything to the Condominium Documentscontrary contained in this Lease, for purposes of applying the Condominium Unit is withdrawn provisions of Article 3 of the Lease with respect to the calculation of the Tax Payment payable by Tenant from time to time, Landlord and Tenant hereby agree that the Taxes “payable” by Landlord for any Tax Year shall be deemed to be the same amount of Taxes that would otherwise be “payable” by Landlord with respect to the Real Property but for the exemption of any ▇▇▇ Units from one or more components of Taxes for such Tax Year (i.e., as if the Land and the Building had not been subjected to the provisions of the DeclarationCondominium Act). Thus, Landlordthere shall be added to the Taxes actually payable by Landlord with respect to any such Tax Year, at its optionthe aggregate amount of Taxes from which any ▇▇▇ Units are exempted for such Tax Year (herein called the “Exempted Tax Amount”). In computing the Exempted Tax Amount, may terminate any tax abatement or exemption that would otherwise apply to the ▇▇▇ Units, but for their pre-existing exemption from Taxes, shall be taken into account. Thus, for example, if in any Tax Year the City of New York institutes a program providing for an across-the-board five percent (5%) abatement of Taxes payable with respect to commercial office buildings in Manhattan, said five percent (5%) abatement shall be taken into account in computing the Exempted Tax Amount. 39.05. Notwithstanding anything to the contrary contained in this Lease, the provisions of the first sentence of Section 3.02(b) of the Lease effective upon the date of such withdrawal. Landlord shall not be obligated apply to any refund of Taxes received by Landlord for any Tax Year if and to the performance extent that such refund consists of Taxes paid with respect to any ▇▇▇ Unit for a period of time that such ▇▇▇ Unit was exempt from such Taxes (e.g., if an ▇▇▇ Unit is conveyed by Landlord to the Board of Managers ▇▇▇, there is a delay in taking such ▇▇▇ Unit off of the Association (the “Board”) or of any of the obligations assumed or undertaken City’s tax rolls and Taxes are paid by the Board pursuant Landlord with respect to such ▇▇▇ Unit for a period with respect to which such ▇▇▇ Unit is exempt from such Taxes). 39.06. Notwithstanding anything to the Condominium Documents and Tenant shall have no claim against Landlord by reason of any default under the Condominium Documents by the Board or the Association. By the execution contrary contained in Section 3.01(e) of this Lease, Tenant agrees the term “Operating Expenses” shall not include common charges of the Condominium, if and to the extent that such common charges duplicate or are in excess of amounts otherwise properly includable in Operating Expenses in accordance with the Association terms and Board are conditions of this Lease (i.e., the determination of whether and to what extent an item of expense is includable as an Operating Expense in accordance with the terms and conditions of this Lease shall be made without regard to whether the amount of such item is payable by Landlord as part of common charges or directly to a third party beneficiaries party). 39.07. Landlord hereby represents and warrants that (i) the Premises are part of a Unit owned by Landlord; (ii) Landlord has full right, power and authority to enter into this lease and (iii) in no event shall Tenant be responsible for any Operating Payment or Tax Payment in excess of those amounts that would be payable by Tenant pursuant to the provisions of this Lease. (c) The Declaration requires the approval of all leases by the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, this Lease shall become null and void. Tenant agrees to cooperate with Landlord in attempting to procure such approval and shall provide such information as is requested by the Board. (d) This Lease does not grant any rights to Tenant to participate Article 3 hereof in the management or affairs absence of the Association, including, but not limited to any voting rights enjoyed by the Landlordcondominium form of ownership.

Condominium. (a) A Lender hereby acknowledges that, notwithstanding anything to the contrary in Section 5.5 of the Deed of Trust, the Sherbrooke Project is currently subject to a condominium regime pursuant to that certain Declaration of Sherbrooke – II Townhouse Condominium Ownership (dated September 19, 1997 and recorded among the “Declaration”) land records of Williamsburg Village was recorded in the Office of the Recorder of Deeds of CPrince ▇▇▇▇▇▇▇ County, IllinoisVirginia in Deed Book 2489 at Page 1067 (as the same may be modified or amended, on January 4, 1983, and thereupon the property within which the Premises are located became subject to (i) the terms and provisions of the Declaration, (ii) the Condominium Property Act of the State of Illinois (the “ActSherbrooke Declaration”), (iii) and the By-Laws related thereto attached to the Sherbrooke Declaration as Exhibit C (as the same may be modified or amended, the “Sherbrooke By-Laws”) and that certain Declaration of Covenants, Conditions and Restrictions by S. Brooke Corporation and Sherbrooke Swim and Racquet Association dated December 31, 1991 and recorded among the aforesaid Land Records in Deed Book 1877 at Page 1159 (as the same may be modified or amended, the “Recreational Facility Declaration”). ▇▇▇▇▇▇▇▇ Sherbrooke shall, on a phase by phase basis, become a Special Declarant under the “Sherbrooke Condominium Documents” (as hereinafter defined) in connection with its acquisition of the Williamsburg Village Owners Association Sherbrooke Project on such phase by phase basis pursuant to that certain Transfer of Special Declarant Rights for Sherbrooke – II Townhouse Condominium by and between S. Brooke Corporation and ▇▇▇▇▇▇▇▇ Sherbrooke, L.C. dated on even date herewith, as the same may be amended (the “AssociationTransfer of Special Declarant Rights”) (▇▇▇▇▇▇▇▇ Sherbrooke shall be known as “Declarant” for purposes of Paragraphs 9, 10 and (iv) the rules and regulations of the Association (the “Rules”11 herein). The Declaration, the Act, the By-Laws and the Rules, as from time Borrower hereby agrees to time amended, are sometimes collectively called the “Condominium Documents”. Tenant acknowledges receipt of provide to Lender a copy of the Transfer of Special Declarant Rights executed in connection with its acquisition of each phase of the Sherbrooke Project within five (5) days of the date hereof. It shall constitute a default under the Loan Documents if there is any amendment, modification or termination of the Sherbrooke Condominium Documents without Lender’s prior written consent; provided, however, Lender understands that the Declarant currently intends to apply to the Commonwealth of Virginia to amend the Sherbrooke Condominium Documents to modify the public offering statement to name Declarant as the declarant under the Sherbrooke Condominium Documents with respect to those phases of the Sherbrooke Condominium which Declarant will be acquiring and to amend the plans of the Sherbrooke Condominium Documents to insert the Unit types which Borrower will be constructing on those phases of the Sherbrooke Condominium which Declarant will acquire (the “Initial Amendment”). Lender hereby consents to the Initial Amendment subject to the following conditions: (i) the Initial Amendment shall be in substantially the same form as that draft of the Initial Amendment previously delivered to the Lender for its review in connection with this Agreement; (ii) no modification to the form of the Initial Amendment shall be submitted to the Commonwealth of Virginia for approval without the prior written consent of Lender; and (iii) evidence of approval of the Initial Amendment by the Commonwealth of Virginia shall be received by Lender within sixty (60) days following the date hereof. The “Sherbrooke Condominium Documents” shall mean the Sherbrooke Declaration, the Sherbrooke By-Laws Laws, any public offering statement, any plats and plans of the Rules. Landlord’s space within Sherbrooke Condominium, and any other documents related to the Building is sometimes called the “Condominium Unit”. All the condominium property of which the Condominium Unit is a partSherbrooke Condominium, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those in the Condominium Documents, the definitions in the Condominium Documents shall controlforegoing documents maybe amended or modified. (b) Tenant accepts this Lease subject to all of the terms and restrictions of the Condominium Documents and agrees to comply with and perform each of the terms, covenants and conditions of the Condominium Documents relating to the use or occupancy of the Premises. If pursuant to the Condominium Documents, the Condominium Unit is withdrawn from the provisions of the Declaration, Landlord, at its option, may terminate this Lease effective upon the date of such withdrawal. Landlord shall not be obligated for the performance by the Board of Managers of the Association (the “Board”) or of any of the obligations assumed or undertaken by the Board pursuant to the Condominium Documents and Tenant shall have no claim against Landlord by reason of any default under the Condominium Documents by the Board or the Association. By the execution of this Lease, Tenant agrees that the Association and Board are and shall be third party beneficiaries of the provisions of this Lease. (c) The Declaration requires the approval of all leases by the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, this Lease shall become null and void. Tenant agrees to cooperate with Landlord in attempting to procure such approval and shall provide such information as is requested by the Board. (d) This Lease does not grant any rights to Tenant to participate in the management or affairs of the Association, including, but not limited to any voting rights enjoyed by the Landlord.

Condominium. 37.01. On or about December 19, 2000, the Land and the Building were subjected to the provisions of Article 9-B of the New York Real Property Law (aherein called the “Condominium Act”), thereby creating The One Liberty Plaza Condominium (herein called the “Condominium”) A in accordance with that certain Declaration Establishing a Plan for Condominium Ownership of Premises Located at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ Pursuant to Article 9-B of the Real Property Law of the State of New York (as the same has thereafter been amended by that certain First Amendment to Declaration of Condominium Ownership (dated December 18, 2002, herein called the “Condominium Declaration”). The units of the Condominium are sometimes referred to herein individually as a “Unit” and collectively as “Units.” The Condominium was formed for the sole purpose of facilitating the receipt by a tenant of the Building (herein called the “Tax-Benefit Tenant”) of Williamsburg Village certain tax benefits, which was recorded in the Office of the Recorder of Deeds of C▇▇▇ County, Illinois, on January 4, 1983, and thereupon the property within which the Premises are located became subject to accomplished by: (i) creating the terms and provisions of the DeclarationCondominium, (ii) conveying the Condominium Property Act of Units containing the State of Illinois premises theretofore demised to the Tax-Benefit Tenant (herein called the “Act▇▇▇ Units”) to the New York City Industrial Development Agency (herein called the “▇▇▇”), a tax-exempt entity, with Landlord retaining a reversionary interest and (iii) requiring the By-Laws ▇▇▇ to immediately lease back the ▇▇▇ Units to Landlord pursuant to a lease demising to Landlord all of benefits and burdens of ownership of the ▇▇▇ Units (herein called, together with any additional such leases that may be entered into as set forth in the immediately following sentence hereof, the “By-Laws”) of the Williamsburg Village Owners Association (the “Association”) and (iv) the rules and regulations of the Association (the “Rules▇▇▇ Leaseback”). The Pursuant to Landlord’s lease with the Tax-Benefit Tenant (herein called the “Tax-Benefit Lease”), Landlord may from time to time convey additional Units to the ▇▇▇ in the same manner as set forth in the immediately preceding sentence in connection with the leasing of additional premises in the Building to the Tax-Benefit Tenant. 37.02. As more particularly set forth in the Condominium Declaration, it is intended that Landlord, as either the Actowner or the holder of an ▇▇▇ Leaseback with respect to all of the Units of the Condominium, will operate the entire Land and the entire Building as if Landlord were the owner of the entire Land and the entire Building and the Land and the Building were not owned in the condominium form of ownership. Accordingly, the terms and conditions of this Lease shall be administered in the same manner as would be the case if Landlord were the sole fee simple owner of the Land and the Building outside the condominium form of ownership and nothing contained in the Condominium Declaration (including, without limitation, the By-Laws of the Condominium annexed thereto), as same may be amended from time to time, shall be construed to increase Tenant’s obligations or diminish Tenant’s rights under this Lease. 37.03. On or about December 19, 2000, Landlord’s predecessor-in-interest, WFP One Liberty Plaza Co. L.P., entered into an agreement with The City of New York (as the same has thereafter been amended by that certain First Amendment to Tax Agreement dated December 30, 2002, herein called the “Tax Agreement”) pursuant to which, notwithstanding the subdivision of the pre-existing single tax lot for the Land and the Rules, Building (herein called the “Existing Tax Lot”) into individual tax lots for each of the Units (herein called the “New Tax Lots”) in connection with the formation of the Condominium: (i) the aggregate assessed real estate tax value (herein called the “Aggregate Value”) of the New Tax Lots will be the same as the assessed value that the Existing Tax Lot would have received from time to time amended, are sometimes collectively called had the “Condominium Documents”. Tenant acknowledges receipt of a copy Existing Tax Lot not been subjected to condominium status and not been subdivided into the New Tax Lots; (ii) each New Tax Lot will have an assessed real estate tax value equal to its share of the DeclarationAggregate Value, which will be the By-Laws and same percentage share assigned to the Rules. Landlord’s space within the Building is sometimes called the “Condominium Unit”. All the condominium property of which the Condominium corresponding Unit is a part, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those in the Condominium Documents, the definitions in the Condominium Documents shall control.Declaration; (biii) Tenant accepts this Lease subject Landlord will have the right to contest the Aggregate Value only with respect to all of the terms New Tax Lots in the aggregate, and restrictions will not have the right to contest the assessed real estate tax value for one or more Units on an individual basis; (iv) the City of New York will accept as valid a single application for review of assessed valuation and a single petition for judicial review of assessed valuation, each of which shall (x) aggregate the assessments of the Condominium Documents New Tax Lots, (y) state a single aggregated value for the aggregated New Tax Lots and agrees to comply with and perform each (z) be a single request for assessment reduction of the terms, covenants and conditions Aggregate Value of the New Tax Lots; (v) any reductions in the Aggregate Value will be apportioned in accordance with the percentage shares assigned to the Units in the Condominium Documents Declaration; and (vi) the income and expense statements required pursuant to Section 11-208.1 of the Administrative Code of the City of New York and any other statements, documents or instruments required to be submitted by Landlord relating to the use or occupancy assessment of real estate taxes shall in each case be submitted for all of the PremisesNew Tax Lots as a single whole, and not for any individual Unit. 37.04. If pursuant Notwithstanding anything to the Condominium Documentscontrary contained in this Lease, for purposes of applying the Condominium Unit is withdrawn provisions of Article 3 of this Lease with respect to the calculation of the Tax Payment payable by Tenant from time to time, Landlord and Tenant hereby agree that the Taxes “payable” by Landlord for any Tax Year shall be deemed to be the same amount of Taxes that would otherwise be “payable” by Landlord with respect to the Real Property but for the exemption of any ▇▇▇ Units from one or more components of Taxes for such Tax Year (i.e., as if the Land and the Building had not been subjected to the provisions of the DeclarationCondominium Act). Thus, Landlordthere shall be added to the Taxes actually payable by Landlord with respect to any such Tax Year, at its optionthe aggregate amount of Taxes from which any ▇▇▇ Units are exempted for such Tax Year (herein called the “Exempted Tax Amount”). In computing the Exempted Tax Amount, may terminate any tax abatement or exemption that would otherwise apply to the ▇▇▇ Units, but for their pre-existing exemption from Taxes, shall be taken into account. Thus, for example, if in any Tax Year the City of New York institutes a program providing for an across-the-board five percent (5%) abatement of Taxes payable with respect to commercial office buildings in Manhattan, said five percent (5%) abatement shall be taken into account in computing the Exempted Tax Amount. 37.05. Notwithstanding anything to the contrary contained in this Lease, the provisions of the first sentence of Section 3.02(b) of this Lease effective upon the date of such withdrawal. Landlord shall not be obligated apply to any refund of Taxes received by Landlord for any Tax Year if and to the performance extent that such refund consists of Taxes paid with respect to any ▇▇▇ Unit for a period of time that such ▇▇▇ Unit was exempt from such Taxes (e.g., if an ▇▇▇ Unit is conveyed by Landlord to the Board of Managers ▇▇▇, there is a delay in taking such ▇▇▇ Unit off of the Association (the “Board”) or of any of the obligations assumed or undertaken City’s tax rolls and Taxes are paid by the Board pursuant Landlord with respect to such ▇▇▇ Unit for a period with respect to which such ▇▇▇ Unit is exempt from such Taxes). 37.06. Notwithstanding anything to the Condominium Documents and Tenant shall have no claim against Landlord by reason of any default under the Condominium Documents by the Board or the Association. By the execution contrary contained in Section 3.01(e) of this Lease, Tenant agrees that the Association and Board are and term “Operating Expenses” shall be third party beneficiaries not include common charges of the provisions Condominium, if and to the extent that such common charges duplicate or are in excess of amounts otherwise properly includable in Operating Expenses in accordance with the terms and conditions of this Lease. Lease (c) The Declaration requires i.e., the approval determination of all leases by whether and to what extent an item of expense is includable as an Operating Expense in accordance with the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, terms and conditions of this Lease shall become null and void. Tenant agrees be made without regard to cooperate with whether the amount of such item is payable by Landlord in attempting as part of common charges or directly to procure such approval and shall provide such information as is requested by the Boarda third party). (d) This Lease does not grant any rights to Tenant to participate in the management or affairs of the Association, including, but not limited to any voting rights enjoyed by the Landlord.

Condominium. This Lease and all rights of Tenant hereunder are and shall be subject and subordinate in all respects to any condominium declaration and any other documents (a) A Declaration of Condominium Ownership (collectively, the “Declaration”) of Williamsburg Village was which are or shall be recorded in order to convert the Office Land and the improvements erected thereon to a condominium form of ownership in accordance with the provisions of Article 9-B of the Recorder of Deeds of C▇▇▇ CountyReal Property Law, Illinoisor any successor thereto, on January 4, 1983, and thereupon provided the property within Declaration does not include any terms which the Premises are located became subject to (i) the terms and provisions of the Declarationincrease Tenant’s monetary obligations, (ii) the Condominium Property Act of the State of Illinois increase Tenant's non-monetary obligations (the “Act”other than to a de minimis extent), (iii) decrease Tenant’s rights (other than to a de minimis extent) or (iv) interfere (other than to a de minimis extent) with Tenant’s use of the ByPremises for the Permitted Use, and provided further that (x) Tenant’s portion of floor 2 and the Mechanical Areas and the entirety of floors 3, 4, 5 and 7-Laws 18 of the Building shall comprise one (1) independent unit (or a unit together with appurtenant limited common elements, exclusive easement areas or similar rights) of which no portions of the Building other than such floors shall form a part (the “By-LawsSale Unit”), and (y) there shall be one single owner (or group of owners acting as one, e.g. tenants in common) of the Williamsburg Village Owners Association Sale Unit. If any such Declaration is to be recorded, Tenant, upon the request of Landlord, shall enter into an amendment of this Lease reasonably acceptable to Tenant confirming such subordination and modifying this Lease in such respects as shall be necessary to conform to such condominiumization, including, without limitation, appropriate adjustments to Tenant’s Share and Tenant’s Operating Share; provided, that such amendments do not include any terms which (the “Association”i) and increase Tenant’s monetary obligations, (ii) increase Tenant’s non-monetary obligations (other than to a de minimis extent), (iii) decrease Tenant’s rights (other than to a de minimis extent) or (iv) the rules and regulations interfere with Tenant’s use of the Association (Premises for the “Rules”)Permitted Use. The Declaration, Concurrently with the Act, the By-Laws and the Rules, as from time to time amended, are sometimes collectively called the “Condominium Documents”. Tenant acknowledges receipt of a copy recordation of the Declaration, and as a condition to the By-Laws and the Rules. Landlord’s space within the Building is sometimes called the “Condominium Unit”. All the condominium property subordination of which the Condominium Unit is a part, as from time to time amended to annex additional property, is sometimes called “Williamsburg Village” and all portions of Williamsburg Village, except the individual condominium units, are sometimes called the “Common Elements”. To the extent that any of the definitions in this Lease conflict with those thereto, Landlord shall obtain for Tenant in recordable form a subordination, non-disturbance and attornment agreement in the Condominium Documents, the definitions in the Condominium Documents shall controlform attached hereto as Exhibit WW. (b) Tenant accepts this Lease subject to all of the terms and restrictions of the Condominium Documents and agrees to comply with and perform each of the terms, covenants and conditions of the Condominium Documents relating to the use or occupancy of the Premises. If pursuant to the Condominium Documents, the Condominium Unit is withdrawn from the provisions of the Declaration, Landlord, at its option, may terminate this Lease effective upon the date of such withdrawal. Landlord shall not be obligated for the performance by the Board of Managers of the Association (the “Board”) or of any of the obligations assumed or undertaken by the Board pursuant to the Condominium Documents and Tenant shall have no claim against Landlord by reason of any default under the Condominium Documents by the Board or the Association. By the execution of this Lease, Tenant agrees that the Association and Board are and shall be third party beneficiaries of the provisions of this Lease. (c) The Declaration requires the approval of all leases by the Board. Landlord agrees to attempt to procure such approval from the Board within the time established for such approval by the Declaration. If, after making reasonable effort, Landlord cannot procure such approval within the time provided, this Lease shall become null and void. Tenant agrees to cooperate with Landlord in attempting to procure such approval and shall provide such information as is requested by the Board. (d) This Lease does not grant any rights to Tenant to participate in the management or affairs of the Association, including, but not limited to any voting rights enjoyed by the Landlord.