Transfer of Existing Facilities and Lease of the Project Facilities Real Property. For and in consideration of the agreement of the Corporation to provide funds to improve the Existing Facilities through renovations and expansions, and to construct the New Facilities, the Commission hereby conveys to the Corporation fee simple title to the Existing Facilities subject to the provisions hereof and those of the Facilities Agreement. Subject to the provisions of Section 3.6 hereof, the County hereby demises and leases to the Corporation and the Corporation hereby leases from the County the Project Facilities Real Property for a Base Lease Term which ends on 2, 2053, for the rentals and other consideration set forth in Section 3.4 hereof and in accordance with the provisions of this Base Lease. The parties hereto agree to amend Exhibit A to this Base Lease at such time, and from time to time, as the County or the Commission acquires or makes available Project Facilities Real Property in addition to those parcels of Project Facilities Real Property described on Exhibit A as of the date hereof, and to amend Exhibit A to this Base Lease to substitute or release parcels of Project Facilities Real Property or portions thereof in accordance with the provisions of Section 3.6 hereof.
Transfer of Existing Facilities. Contemporaneously with the execution of this Agreement, the Village and County shall enter an agreement to provide for the transfer of ownership and control of all existing Bannockburn Retail Sewage Collection Facilities that currently serve the Southeast Regional Area (the "Transferred Facilities") from the Village to the County (the "Transfer Agreement"), except those Facilities identified in Subsection 3.3.B below. The Transfer Agreement shall be in substantially the form of that attached hereto as Exhibit B. Upon the execution of this Agreement, the Transferred Facilities shall be owned, operated, and controlled by the County and shall be a part of the County Southeast Sewerage System.
