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<br />Page | 10 <br />4894-6811-3695v.2 0017787-000542 <br />4894-6811-3695v.2 0017787-000542 <br />terms, conditions, covenants, restrictions or reservations of this Lease. Notwithstanding the <br />foregoing, the Term shall not exceed sixty five (65) years from the Effective Date . <br />2.3 Termination at End of Term. This Lease shall terminate without need of further <br />actions of any Party at 12:00 midnight Pacific Standard Time on the last day of the Term. <br />2.4 Condition of the Premises. TENANT HEREBY ACCEPTS THE PREMISES “AS <br />IS”, AND ACKNOWLEDGES THAT THE PREMISES IS IN SATISFACTORY <br />CONDITION. COUNTY AND AGENCY MAKES NO WARRANTY, IMPLIED OR <br />OTHERWISE, AS TO THE SUITABILITY OF THE PREMISES FOR TENANT’S <br />PROPOSED USES. COUNTY AND AGENCY MAKE NO COVENANTS OR <br />WARRANTIES, IMPLIED OR OTHERWISE, RESPECTING THE CONDITION OF THE <br />SOIL, SUBSOIL, OR ANY OTHER CONDITIONS OF THE PREMISES OR THE <br />PRESENCE OF HAZARDOUS MATERIALS, NOR DOES COUNTY OR AGENCY <br />COVENANT OR WARRANT, IMPLIED OR OTHERWISE, AS TO THE SUITABILITY OF <br />THE PREMISES FOR THE PROPOSED DEVELOPMENT, CONSTRUCTION OR USE BY <br />TENANT. COUNTY AND AGENCY SHALL NOT BE RESPONSIBLE FOR ANY LAND <br />SUBSIDENCE, SLIPPAGE, SOIL INSTABILITY OR DAMAGE RESULTING <br />THEREFROM. COUNTY AND AGENCY SHALL NOT BE REQUIRED OR OBLIGATED <br />TO MAKE ANY CHANGES, ALTERATIONS, ADDITIONS, IMPROVEMENTS OR <br />REPAIRS TO THE PREMISES. TENANT SHALL RELY ON ITS OWN INSPECTION AS <br />TO THE SUITABILITY OF THE PREMISES FOR THE INTENDED USE. <br />TENANT INITIALS: ______ ______ <br />2.5 Limitations of the Leasehold. This Lease and the rights and privileges granted Tenant <br />in and to the Premises are subject to all covenants, conditions, restrictions, and exceptions of record <br />as of the date hereof or otherwise disclosed to Tenant prior to the date hereof. Nothing contained in <br />this Lease or in any document related hereto shall be construed to imply the conveyance to Tenant of <br />rights in the Premises which exceed those owned by Lessor, or any representation or warranty, either <br />express or implied, relating to the nature or condition of the Premises or County’s or Agency’s <br />interest therein. <br />2.6 Tenant’s Investigation. Tenant acknowledges that it is solely responsible for <br />investigating the Premises to determine the suitability thereof for the uses contemplated by Tenant. <br />Tenant further acknowledges by executing this Lease that it has completed its investigation and has <br />made such determinations as Tenant believes may be required under the circumstances. <br />ARTICLE III <br />TOTAL RENT <br /> <br />3.1 Base Rent. Throughout the Term of this Lease, regardless of an earlier termination date <br />Tenant shall pay to the County and the Agency the Base Rent as set forth herein. <br /> <br />3.1.1 County Base Rent. Until the satisfaction, expiration or termination of the <br />Trust MHSA Loan, Tenant shall make annual payments to County of thirtythirteen and fifty-three <br />and four-tenthsone hundredths of one percent (33.413.53%) of the then available Residual Receipts <br />(defined above), but only to the extent said Residual Receipts are available, until the amount of two <br />million, three hundred and forty-one thousand, eight hundred and sixty-four dollars ($2,341,864) is <br />EXHIBIT 11