Common use of Options to Extend Lease Term Clause in Contracts

Options to Extend Lease Term. 3.2.1 Provided that the Tenant shall keep, observe and perform all of the terms, covenants and conditions of this Lease on Tenant's part to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten (10) year periods. Tenant may exercise each option to extend the Lease Term only by giving written notice to Landlord not less than one hundred eighty (180) days and not more than two hundred forty (240) days prior to the expiration of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease Term, and the provisions of this Section 3.2 shall, at such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this Lease. 3.2.4 If Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue to be paid in addition to the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereof.

Options to Extend Lease Term. 3.2.1 Provided that the Tenant shall keep, observe and perform all of the terms, covenants and conditions of this Lease on Tenant's part to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall is not be then in default of any of the termsterm, covenants and conditions covenant or condition of this Lease after beyond any applicable notice and/or cure periodsperiods , Tenant may extend shall have the Lease Term for two (2) additional successive ten (10) year periods. Tenant may exercise each option to extend the term of this Lease Term only by giving written notice for the Renewal Terms, to Landlord not less than one hundred eighty (180) days and not more than two hundred forty (240) days prior to commence immediately upon the expiration of the original Lease Initial Term or the applicable option periodFirst Renewal Term, as applicable; provided, however, if Tenant has been placed in default hereunder by Landlord and Tenant has disputed such default in good faith by written notice to Landlord, Tenant shall continue to have the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunder, the described hereinabove. Tenant's use and occupation rental of the Demised Premises shall, during each extended Lease Term, Renewal Term shall be upon the same terms, covenants and conditions contained hereinin this Lease, except that Tenant shall be required pay to pay Minimum Annual Landlord as Base Rent that amount equal to the then "Prevailing Market Rate" for the Premises for the applicable Renewal Term, as hereinafter defined (including annual adjustments). Landlord acknowledges that the inclusion of this Section 3.3 granting Tenant an option to extend this Lease was a material inducement to Tenant in entering this Lease. Accordingly, Landlord agrees that, for purposes of this Section 3.3, Tenant may in good faith dispute a default on the amounts set forth in Section 3.2.4 below. 3.2.3 In ground that the event that Tenant fails economic detriment of the default on the Landlord is de minimis and grossly disproportionate to timely and properly exercise any a forfeiture of the Tenant's option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease Term, and the provisions Lease. For purposes of this Section 3.2 shall3.3, at such timethe term "Prevailing Market Rate" shall mean the then prevailing market renewal rate (i) Tenant shall fail to respond to Landlord's Notice as provided above, be automatically deemed null and void, of no further force and effect, and (ii) Tenant shall be deemed deleted from this Lease. 3.2.4 If Tenant properly and timely exercises each fail to deliver the requisite notice exercising its option to extend by the Lease Termdate prescribed above, (iii) Tenant does not respond within ten (10) days following receipt of Landlord's Notice or (iv) Tenant does not accept the Prevailing Market Rate within ten (10) days following Landlord's notification of the Prevailing Market Rate, as determined either by the average of the two Appraisers or from all three Appraisers, as applicable, then Tenant's option to extend this Lease for the Renewal Term shall be void and inoperable. Landlord and Tenant shall each pay the fee of the appraiser designated by them originally and shall split the fees of the Third Appraiser. If Tenant shall fail to respond to Landlord's Notice as provided above, or if Tenant shall fail to deliver the requisite notice exercising its option to extend by the date prescribed above, then Tenant's option to extend this Lease for the applicable Renewal Term shall be void and inoperable. Notwithstanding anything to the contrary contained herein, in addition the event Tenant elects not to all other obligations and covenants of Tenant contained in renew this LeaseLease as provided hereinabove, Tenant shall pay Minimum Annual Rent during each extended term have the option to remain in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension possession of the Premises for a period of three (3) months following the expiration of the then current Term or applicable Renewal Term (the "3 Month Holdover Period"), by providing written notice of such election to Landlord on or before ninety (90) days prior to upcoming expiration of the Term or applicable Renewal Term. In the event of such an election by Tenant, this Lease Term shall continue to be paid automatically extend for such period and in addition consideration thereof, Tenant shall pay, as Base Rent due for each month of the 3 Month Holdover Period, an amount equal to the Minimum Annual Monthly Installment Base Rent as calculated herein during any extended Lease for the final calendar month of the Term, as well as any other sums that become due and payable in accordance with plus Twenty-Five cents ($0.25) per square foot of Rentable Floor Area of the terms hereofPremises.

Options to Extend Lease Term. 3.2.1 Provided that 41.01 Tenant is hereby granted two (2) options (the Tenant shall keep, observe and perform all of the terms, covenants and conditions of this Lease on Tenant's part "Options") to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two an additional term of five (25) years each (the "Extensions"), the first beginning on March 1, 2002, and expiring on February 28, 2007, (unless terminated sooner pursuant to any other terms or provisions of the Lease), and the second beginning on March 1, 2007, and expiring on February 28, 2012, (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted rent as set forth in Section 41.02 below (and without any additional successive ten (10) year periods. Tenant may exercise each option options to extend the Lease Term after the expiration of the Extensions). The Options may be exercised by Tenant only by giving delivery of written notice to Landlord, which notice must be received by Landlord not less than at least one hundred eighty (180) days and not more than two hundred forty (240) days before the expiration of the original Lease Term or the first Option term set forth in Section 1.06 above. If Tenant fails to timely deliver such written notice, or if this Lease is terminated pursuant to any other terms or provision of this Lease prior to the expiration of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunderfirst Option term, the Tenant's use Options shall lapse, and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights no right to extend the Lease Term. The Options shall be exercisable by Tenant on the express conditions that (i) at the time of delivery of Tenant's notice of its election to exercise the Option, and at all times prior to the provisions commencement of the Extension, Tenant shall not be in default under this Section 3.2 shallLease, at (ii) Tenant has not previously been in default (whether or not any such timedefault has been timely cured) under this Lease on more than three (3) occasions during the Lease Term, and (iii) Tenant has not assigned this Lease nor sublet all or any part of the Premises, it being understood that the Option is personal to the original named Tenant under this Lease. In the event of any such assignment or sublease, the Option shall lapse and shall be automatically deemed null and void, void and of no further force and or effect. 41.02 The rental at the beginning of each of these Option periods shall be at the then "Fair Market" rate, and said rental rates shall be deemed deleted from this Lease. 3.2.4 If Tenant properly and timely exercises adjusted at the end of the first 30 months of each option to extend Option period by the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term increase in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any Consumer Price Index, hereafter called CPI, over the preceding thirty (30) month period. The CPI shall mean the average for "all items" shown on the U. S. City Average for Urban Wage Earners and Clerical Workers (including Single Workers), all Additional Rent that becomes due items, groups, sub-groups and payable during any extension special groups of items as promulgated by the Bureau of Labor Statistics of the Lease Term U. S. Department of Labor. In no event, however, shall continue to the rental during the Option period be paid in addition to less than the Minimum Annual Base Rent as calculated herein due during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereofprevious lease term.

Options to Extend Lease Term. 3.2.1 Provided that 41.01 Tenant is hereby granted the Tenant shall keepoptions (each, observe an "Extension Option," and perform all of collectively, the terms, covenants and conditions of this Lease on Tenant's part "Extension Options") to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten periods of five (105) year periods. Tenant years (each, an "Extension Term," and collectively, the "Extension Terms"), each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may exercise each be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant only by giving delivery of written notice of such exercise (the "Extension Notice") to Landlord, which Extension Notice must be received by Landlord not less than one at least two hundred eighty twenty-five (180225) days and not more than two hundred forty (240) days before the expiration of the Initial Lease Term or the first Extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to the expiration of the original Initial Lease Term or the applicable option periodfirst Extension Term, as the case may be. 3.2.2 Should applicable, all remaining Extension Options shall lapse, and Tenant properly and timely exercise any option shall have no right to extend or further extend the Lease Term granted hereunder, Term. The Extension Options shall be exercisable by Tenant on the express conditions that (i) at the time of delivery of Tenant's use Extension Notice and occupation at all times thereafter and prior to the commencement of the Demised Premises shall, during each extended Lease applicable Extension Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall not be required to pay Minimum Annual Rent in the amounts set forth monetary default under this Lease, (ii) Tenant has not previously been in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to monetary default (whether or not such default has been timely and properly exercise any option to extend the cured) under this Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend on more than three (3) occasions during the Lease Term, and (iii) except for a Permitted Assignment, Tenant has not assigned this Lease, sublet all or any part of the provisions Premises, or otherwise Transferred this Lease, it being understood that, except in the case of a Permitted Assignment, the Extension Options are personal to the original named Tenant under this Section 3.2 shallLease. In the event of any such assignment, at such timesublease, or other Transfer other than a Permitted Assignment, all unexercised Extension Options shall lapse and shall be automatically deemed null and void, void and of no further force or effect. After agreement by Landlord and effectTenant on the Base Monthly Rent as provided in Section 41.02 below, and Tenant's obligation to renew shall be deemed deleted from this Leaseirrevocable by Tenant. 3.2.4 If Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual 41.02 Base Monthly Rent during each extended term in Extension Term, including any interim increases thereof, shall be the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension "Market Rent" of the Lease Premises, as hereinafter provided. The term "Market Rent" for the Premises during the applicable Extension Term shall continue mean the rent, including all escalations, at which an unrelated landlord and tenant, with neither being under undue influence or duress, would be willing to be paid lease the Project based upon its highest and best use and for a five-year term. Tenant and Landlord agree to negotiate the amount of Market Rent for the Project in addition good faith for a period of forty-five (45) days after exercise by Tenant of each Extension Option as provided in Section 41.01 above (the "Negotiation Period"). In the event Landlord and Tenant agree upon the Base Monthly Rent pursuant to the Minimum Annual foregoing provisions within the Negotiation Period, then Tenant's obligation to renew for the applicable Extension Term shall become irrevocable. In the event Tenant and Landlord are unable to agree upon the Base Monthly Rent as calculated herein during within the Negotiation Period, then at any extended time after expiration of the Negotiation Period, and prior to any subsequent agreement on the amount of Base Monthly Rent, Landlord or Tenant may terminate Tenant's right to lease the Premises for the applicable Extension Term (but not the remaining portion of the then existing Lease Term, as well as any other sums that become due ) by delivering written notice to the other. Landlord's and payable in accordance with Tenant's agreement on Base Monthly Rent for the terms hereofapplicable Extension Term shall be evidenced by a written amendment to this Lease Agreement executed by Landlord and Tenant.

Options to Extend Lease Term. 3.2.1 Provided that (i) Tenant is not in default under the terms of this Lease at the time each renewal option is exercised beyond applicable cure periods, and (ii) Tenant or a Permitted Transferee (as defined in Section 18.06 above) is occupying the entire Premises, including any expansion space, Tenant shall keephave two (2) options to renew this Lease for an additional period of sixty (60) months each (individually, observe the "FIRST EXTENSION TERM" and perform "SECOND EXTENSION TERM"; or an "EXTENSION TERM"; and collectively, the "EXTENSION TERMS"). The Extension Terms shall be on all of the terms, covenants terms and conditions of this Lease on Tenant's part to be keptLease, observed and performedexcept that Landlord shall have no additional obligation for free rent, and provided furtherleasehold improvements or for any other tenant inducements for the Extension Terms and, that at the time effective as of the exercise first day of any option granted pursuant each Extension Term, the Base Rent in effect immediately before each such extension period shall be increased (but not decreased) to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any an amount equal to ninety-five percent (95%) of the terms, covenants and conditions of fair market rental rate as (hereinafter defined) for each Extension Term. There shall be no additional extension terms beyond the Extension Terms set forth herein. Tenant must exercise its options to extend this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten (10) year periods. Tenant may exercise each option to extend the Lease Term only by giving Landlord written notice of its election to Landlord not less do so no later than one hundred eighty (180) days and not more nor earlier than two three hundred forty sixty (240360) days prior to the expiration end of the original Lease Term initial Term, or the applicable option periodFirst Extension Term, as the case may be. 3.2.2 Should Tenant properly and applicable. Any notice not given in a timely exercise any option to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant manner shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely void, and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived its extension rights. The Extension Options set forth herein are personal to the original Tenant executing this Lease ("ORIGINAL TENANT") and forfeited shall not be included in any and all rights to extend the Lease Term, and the provisions assignment of this Section 3.2 shall, at such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this LeaseLease (other than an assignment to a Permitted Transferee). 3.2.4 If Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue to be paid in addition to the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereof.

Options to Extend Lease Term. 3.2.1 Provided that 41.01 Tenant is hereby granted two (2) options (each, an "Extension Option," and collectively, the Tenant shall keep"Extension Options,") to extend the Lease Term for an additional term of five (5) years (each, observe an "Extension Term" and perform collectively, the "Extension Terms") each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the terms, covenants same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant only by delivery of written notice of such exercise (the "Extension Notice") to Landlord, which Extension Notice must be received by Landlord at least one hundred eighty (180) days before the expiration of the Initial Lease Term, or the first extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease on Tenant's part is terminated pursuant to be keptany of its other terms or provisions prior to the expiration of the Initial Lease Term or the first Extension Term, observed and performedas the case may be, all remaining Extension Options shall lapse, and provided further, Tenant shall have no right to extend or further extend the Lease Term. Each Extension Option shall be exercisable by Tenant on the express conditions that (i) at the time of the exercise delivery of any option granted pursuant Tenant's Extension Notice and at all times thereafter and prior to this Section 3.2, or the commencement of any extension termthe applicable Extension Term, Tenant shall not be in default of any of the termsunder this Lease, covenants and conditions of (ii) Tenant has not previously been in default (whether or not such default has been timely cured) under this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten (10) year periods. Tenant may exercise each option to extend the Lease Term only by giving written notice to Landlord not less than one hundred eighty (180) days and not on more than two hundred forty three (2403) days prior to the expiration of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, occasions during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease Term, and (iii) Tenant has exercised the provisions concurrent "Extension Option" as defined in and provided under the Adjacent Premises Lease. After exercise of this Section 3.2 shall, at such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this Lease. 3.2.4 If each Extension Option by Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue to be paid in addition to the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereofforegoing provisions, Tenant's obligation to renew shall be irrevocable by Tenant.

Options to Extend Lease Term. 3.2.1 Provided (a) Landlord hereby grants to Tenant three (3) options (the "Options") to extend the Lease Term for additional term(s) of either ten (10) years or twenty (20) years (the "Extension(s)"), on the same terms and conditions as set forth in this Lease, but at an increased Base Rent as set forth below and without any additional Option(s) other than those granted in this Section 2.05, and except that the Tenant shall keep, observe and perform all obligations of the terms, covenants and conditions Landlord set forth in Section 7.02 of this Lease on Tenant's part shall not be applicable and shall not be in force for any Extensions. Each Option shall be exercised only by written notice delivered to be keptLandlord not less than three hundred sixty five (365) days before the expiration of the initial Lease Term or the preceding Extension of the Lease Term, observed respectively, which notice shall also state the duration of the subject Extension. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option and performedany succeeding Options shall lapse, and provided further, there shall be no further right to extend the Lease Term. Each Option shall be exercisable by Tenant on the express conditions that at the time of the exercise of any option granted pursuant exercise, and at all times thereafter and prior to this Section 3.2, or the commencement of any extension termsuch Extension, Tenant shall not be in default of under any of the terms, covenants and conditions provisions of this Lease after beyond the expiration of any applicable notice and/or cure periods. Following Tenant's timely and valid exercise of an Option, Landlord shall prepare and Tenant may extend shall execute and deliver to Landlord an amendment to this Lease confirming the term of the Extension and the amount of Base Rent payable by Tenant during such Extension. Time is of the essence with respect to Tenant's exercise of the Option(s) granted in this Section 2.05. (b) The Base Rent during each of any first, second and third Extension shall be ninety five (95%) percent of the fair rental value of the Leased Premises on the date that Tenant shall exercise such option. For the purposes of such calculation, the term "fair rental value" shall mean the price that a ready and willing tenant would pay, as of the applicable expiration date, as a monthly Base Rent to a ready and willing landlord of property comparable to the Lease Term Premises if such property were exposed for lease on the open market for a reasonable period of time and taking into account all of the purposes for which such property may be used, and that the Landlord shall have no further obligations under Section 7.02 of this Lease. The Base Rent for each of these Extensions shall increase by seven & one-half (7.5%) percent on each of the fifth and, if applicable, tenth and fifteenth anniversaries of the Commencement Date of such Extension. In the event that Landlord and Tenant cannot agree on the fair rental value within sixty (60) days of Tenant's exercise of the subject option, the fair rental value shall be determined by an arbitration, using a broker (as provided below.) (i) If Landlord and Tenant are not able to agree upon the fair rental value of the Leased Premises within the prescribed time period, then not later than ten (10) days thereafter, each party shall appoint a broker qualified under the terms of this Lease and notify the other party of such appointment, identifying the appointee. Each party hereto agrees to select as its respective appointee a licensed real estate broker, who is an individual of substantial experience with respect to industrial building ownership, management and marketing in the Jackson County, Georgia industrial market, which person shalx xxxx at least five (5) years experience in sales and leasing of industrial real property and who shall not be regularly employed or have been retained during the last two (2) additional successive ten (10) year periodsyears as a broker by the party selecting such person. Tenant Neither party may exercise each option to extend consult directly or indirectly with any broker regarding the Lease Term only by giving written notice to Landlord not less than one hundred eighty (180) days and not more than two hundred forty (240) days fair rental value prior to appointment, or after appointment, outside the expiration presence of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant other party. The arbitration shall be required to pay Minimum Annual Rent conducted in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described hereinAtlanta, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease TermGeorgia, and under the provisions of this Section 3.2 shall, at such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this Lease. 3.2.4 If Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension commercial arbitration rules of the Lease Term shall continue to be paid in addition to American Arbitration Association and the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with applicable Laws of the terms hereofState of Georgia governing the arbitrator.

Options to Extend Lease Term. 3.2.1 Provided that the no Default by Tenant shall keep, observe and perform all (as defined in Paragraph 13.1) exists as of the terms, covenants and conditions of this Lease on Tenant's part to be kept, observed and performed, and provided further, that at the time of the ’s exercise of any option granted pursuant to Tenant under this Section Paragraph 3.2, or the commencement of any extension term, Landlord hereby grants to Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may two (2) options to extend the Lease Term (beyond December 31, 2006) for two a period of three (23) additional successive ten consecutive months each (10each such three (3) year periods. month extension term being referred to herein as an “Extension Term”), on the following terms and conditions: (a) Tenant may shall give Landlord written notice of its exercise each of the applicable option to extend the Lease Term only by giving written notice to Landlord not less no later than one hundred eighty forty-five (18045) days and not more than two hundred forty (240) days prior to before the expiration of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend date the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease Term, and the provisions of this Section 3.2 shall, at such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this Lease. 3.2.4 would end but for said exercise. If Tenant properly is in default under this Lease beyond any applicable notice and timely cure period on the date that it exercises each an option to extend the Lease Term, then in addition such exercise of the option to all other obligations extend shall be void and covenants of Tenant contained in Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend. (b) All terms and conditions of this Lease shall apply during the applicable Extension Term, except that the Rent for the Extension Term shall be equal to $38,511.20 per month as provided in Paragraph 1.8 above, and Tenant shall pay Minimum Annual Rent during each extended term have no further options to extend the Lease Term beyond the Extension Terms described in this Paragraph 3.2. (c) Upon the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue pursuant to be paid in addition to this Paragraph 3.2, the Minimum Annual Rent as calculated herein during any extended term “Lease Term, ” as well as any other sums that become due used in this Lease shall thereafter include the applicable Extension Term and payable in accordance with the Lease Termination date shall be the expiration date of the applicable Extension Term unless sooner terminated pursuant to the terms hereof.

Options to Extend Lease Term. 3.2.1 Provided that 41.01 Tenant is hereby granted the Tenant shall keepoptions (each, observe an “Extension Option,” and perform all of collectively, the terms, covenants and conditions of this Lease on Tenant's part “Extension Options”) to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten periods of five (105) year periods. Tenant years each (each, an “Extension Term,” and collectively, the “Extension Terms”), each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may exercise each be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant only by the giving of written notice of such exercise (the “Extension Notice”) to Landlord not less than at least one hundred eighty (180) days and not more than two hundred forty (240) days before the expiration of the Initial Lease Term or the first Extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to the expiration of the original Initial Lease Term or the applicable option periodfirst Extension Term, as the case may be. 3.2.2 Should applicable, all remaining Extension Options shall lapse, and Tenant properly and timely exercise any option shall have no right to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to or further extend the Lease Term. The Extension Options shall be exercisable by Tenant on the express condition that at the time of delivery of Tenant’s Extension Notice and at all times thereafter and prior to the commencement of the applicable Extension Term, Tenant shall not be in default under this Lease beyond any applicable cure period(s). In the event of the failure of any such conditions, all unexercised Extension Options shall lapse and the provisions of this Section 3.2 shall, at such time, shall be automatically deemed null and void, void and of no further force and or effect, and shall be deemed deleted from this Lease. 3.2.4 If . After exercise of each Extension Option by Tenant properly and timely exercises each option to extend the Lease Term, then in addition to all other obligations and covenants of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue to be paid in addition to the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereofforegoing provisions, Xxxxxx’s obligation to renew shall be irrevocable by Tenant. 41.02 Base Monthly Rent during each twelve (12) month period of each Extension Term shall be computed as follows. As used herein, the term, “Extension Adjustment Month,” shall mean the first (1st) month of each Extension Term and each month including each anniversary of the commencement of each Extension Term, the term, “Extension Comparison Index,” shall mean the Index published and which is in effect the third month preceding the commencement of each Extension Adjustment Month, and the term, “Beginning Index,” shall be the Index in effect during the fifty-seventh (57th) month of the Initial Lease Term. Base Monthly Rent for each twelve (12) month period of each Extension Term shall be the product of the Base Monthly Rent as specified in Section 1.07 above for the second five (5) year period of the Initial Lease Term, multiplied by a 29 .. fraction, the numerator being the applicable Extension Comparison Index and the denominator being the Beginning Index. In no event, however, shall the Base Monthly Rent during any twelve (12) month period of any Extension Term be less than one hundred two percent (102%) or greater than one hundred six percent (106%) of the Base Monthly Rent due during the immediately preceding period of the Lease Term. Landlord will give Tenant notice of each increase by written invoice; however, failure of Landlord to give such notice shall not be construed as a waiver of the increase and any such increased amount shall accrue as Rent. If the Index is discontinued or revised during any Extension Term, Landlord reserves the right to use a conversion factor, formula or table or substitute Index as may be published by the Bureau of Labor Statistics or, if none, a different Index in order to obtain substantially the same result.

Options to Extend Lease Term. 3.2.1 Provided that the Tenant shall keep, observe and perform So long as Lessee has performed all obligations of the termscurrent term and no delinquency remains outstanding, covenants and conditions of this Lease on Tenant's part Lessee shall have two consecutive Options to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two (2) additional successive ten (10) year periods. Tenant may exercise each option to extend the Lease Term only by giving written notice to Landlord not less than one hundred eighty (180) days and not more than two hundred forty (240) days prior to the expiration of the original Lease Term or the applicable option period, as the case may be. 3.2.2 Should Tenant properly and timely exercise any option to extend the Lease Term granted hereunder, the Tenant's use and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants and conditions contained herein, except that Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option to extend the Lease Term as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend Extend the Lease Term, subject to the following: a.) Lessee shall retain all of the space in Building 81; b.) The space shall be taken on an “As Is” basis without further allowance for Tenant Improvements; c.) Each party shall bear the cost of any commission incurred by that party in relation to these Options to Extend; d.) Options are exclusive to Lessee and may not be transferred or assigned; e.) Option periods are consecutive to the provisions then expiring Term; f.) Lessee shall provide Lessor with not less than six months advance written notification of this Section 3.2 shallintent to exercise each Option period. Should Lessor not receive notice as herein described, at such timeboth Options shall expire. g.) The first Option shall commence on January 1, be automatically deemed null and void, of no further force and effect2021, and shall extend to be deemed deleted from co-terminous with the then current Term for other Buildings within the Park occupied by Lessee. Currently, these Buildings are 52, 60, and 00 Xxxxxxxx Xxxxx. If the first Option for the Buildings on Xxxxxxxx Court is extended through the Initial Term of this Lease, the then current expiration of those Leases is projected to be April 30, 2024. h.) Base Monthly Rent for the period January 1, 2021 to April 30, 2021 shall be at the same rate as the expiring Term. Thereafter, Base Monthly Rent shall be subject to the annual escalation per Section 8 of this Lease. 3.2.4 If Tenant properly and timely exercises each option i.) The Term of the second Option to extend Extend the Lease Term would be May 1, 2024 to April 30, 2029 (five years). Notification to exercise this Option would be due to Lessor not later than October 31, 2023. Should Lessor not receive such notice as herein described, the Option shall expire. j.) The Base Monthly Rent for the first year of the second Option (5/1/24-4/30/25) would be at the same rate as the then expiring Term. Thereafter, then in addition the Base Monthly Rent shall be subject to all other obligations and covenants the annual escalation per Section 8 of Tenant contained in this Lease, Tenant shall pay Minimum Annual Rent during each extended term in the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any extension of the Lease Term shall continue to be paid in addition to the Minimum Annual Rent as calculated herein during any extended Lease Term, as well as any other sums that become due and payable in accordance with the terms hereof.

Options to Extend Lease Term. 3.2.1 Provided that the Landlord hereby grants to Tenant shall keep, observe and perform all of the terms, covenants and conditions of this Lease on Tenant's part two (2) options to be kept, observed and performed, and provided further, that at the time of the exercise of any option granted pursuant to this Section 3.2, or the commencement of any extension term, Tenant shall not be in default of any of the terms, covenants and conditions of this Lease after any applicable notice and/or cure periods, Tenant may extend the Lease Term for two a period of five (25) additional successive ten years each (10each such period being referred to herein as an "Extended Term" and together referred to herein as the "Extended Terms"), on the following terms and conditions: (1) year periods. Tenant may shall give Landlord written notice of its exercise each of the applicable option to extend the Lease Term only by giving written notice to Landlord not less no earlier than one hundred eighty nine (1809) days and not more months nor later than two hundred forty six (2406) days prior to the months before expiration of the original initial Lease Term Term, or the applicable option periodfirst Extended Term, as the case may be. Time is of the essence Tenant shall have no right to exercise the option applicable to the second Extended Term if it fails to timely and properly exercise the option applicable to the first Extended Term. 3.2.2 Should (2) Tenant properly may not extend the Lease Term pursuant to this Paragraph 4.C if Tenant is in material default of any of its obligations under this Lease as of the date of Tenant's notice of exercise of this option, or if Tenant shall have assigned, sublet or otherwise transferred its interest in this Lease and/or the Premises, or any portion thereof, whether or not Landlord's consent to such assignment or transfer has been given. The preceding sentence to the contrary notwithstanding, Tenant shall not be precluded from extending the Lease Term as provided herein solely because Tenant may have assigned this Lease to an affiliate of Tenant or to an entity that acquires all or substantially all of the assets of Tenant, by merger or otherwise. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend and timely such exercise any of Tenant's option to extend the Lease Term granted hereunder, the Tenant's use shall be void and occupation of the Demised Premises shall, during each extended Lease Term, be upon the same terms, covenants no force or effect. (3) All terms and conditions contained hereinof this Lease shall apply during the applicable Extended Term, except that the Rent for the Extended Term shall be determined in accordance with Paragraph 5.G below, Tenant shall be required to pay Minimum Annual Rent in the amounts set forth in Section 3.2.4 below. 3.2.3 In the event that Tenant fails to timely and properly exercise any option have no further options to extend the Lease Term beyond the Extended Terms described in this Paragraph 4.C and Landlord shall have no obligation to construct or install any building shell improvements (as described herein, then Tenant shall be deemed to have irrevocably waived and forfeited any and all rights to extend the Lease Term, and the provisions of this Section 3.2 shall, at in Exhibit C attached hereto) or leasehold improvements within such time, be automatically deemed null and void, of no further force and effect, and shall be deemed deleted from this Leasebuilding shell improvements. 3.2.4 If (4) Once Tenant properly and timely exercises each delivers notice of its exercise of the applicable option to extend the Lease Term, then in addition Tenant may not withdraw such exercise and, subject to all other obligations and covenants the provisions of Tenant contained in this LeaseParagraph 4.C, Tenant such notice shall pay Minimum Annual Rent during each extended term in operate to extend the following amounts: FIRST OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 21 $1,822,461.21 $151,871.77 Lease Year 22 $1,868,022.74 $155,668.56 Lease Year 23 $1,914,723.31 $159,560.28 Lease Year 24 $1,962,591.39 $163,549.28 Lease Year 25 $2,011,656.18 $167,638.01 Lease Year 26 $2,061,947.58 $171,828.97 Lease Year 27 $2,113,496.27 $176,124.69 Lease Year 28 $2,166,333.68 $180,527.81 Lease Year 29 $2,220,492.02 $185,041.00 5 Lease Year 30 $2,276,004.32 $189,667.03 SECOND OPTION MINIMUM ANNUAL RENT MONTHLY RENT Lease Year 31 $2,332,904.43 $194,408.70 Lease Year 32 $2,391,227.04 $199,268.92 Lease Year 33 $2,451,007.72 $204,250.64 Lease Year 34 $2,512,282.91 $209,356.91 Lease Year 35 $2,575,089.98 $214,590.83 Lease Year 36 $2,639,467.23 $219,955.60 Lease Year 37 $2,705,453.91 $225,454.49 Lease Year 38 $2,773,090.26 $231,090.85 Lease Year 39 $2,842,417.52 $236,868.13 Lease Year 40 $2,913,477.95 $242,789.83 Any and all Additional Rent that becomes due and payable during any Term. Upon the extension of the Lease Term shall continue pursuant to be paid in addition to this Paragraph 4.C, the Minimum Annual Rent as calculated herein during any extended term "Lease Term, " as well as any other sums that become due used in this Lease shall thereafter include the applicable Extended Term for which the option is exercised and payable in accordance with the Lease Termination date shall be the expiration date of the applicable Extended Term unless sooner terminated pursuant to the terms hereof.