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<br />12. Waiver and Default. The waiver by one party of the performance of any <br />provision of this Lease shall not invalidate this Lease nor shall it be considered a waiver by it of <br />any other provision under this Lease or of any subsequent breach by the other party of the same <br />proVISIOn. <br /> <br />13. Holdover. If Lessee holds over after the expiration of the Term hereof, with <br />or without the consent of Lessor, Lessor shall have the option, to be exercised in its sole and <br />absolute discretion, to treat any such holdover period as a month-to-month tenancy, and not a <br />renewal hereof or an extension for any further term, and in such case (a) monthly rent shall be <br />payable in an amount equal to Sixty Thousand Dollars ($60,000.00) per month, and (b) such <br />month-to-month tenancy shall be subject to every other term, covenant, condition and agreement <br />contained herein. Due to the length of the Term, Lessor and Lessee cannot accurately determine <br />what a suitable holdover rent will be upon expiration, but have agreed that the aforementioned <br />amount is appropriate to (i) incentivize Lessee to timely surrender the Lessor Property upon <br />expiration of the Term, and (ii) compensate Lessor for loss of use ofthe Lessor Property <br />occasioned by such holdover and the potential delay that Lessor would likely experience with <br />respect to Lessor's planned development of the Lessor Property. Nothing contained in this <br />Section shall be construed as (i) a consent by Lessor to any holding over by Lessee, (ii) a <br />requirement that Lessor accept a holdover tenancy, (iii) a waiver by Lessor of its rights to pursue <br />all available contractual, legal and equitable remedies against Lessor (including without <br />limitation, recovery of possession), all of which rights and remedies are expressly reserved, or <br />(iv) relieving Lessee from liability for any general, special or consequential damages that such <br />holding over may cause Lessor. <br /> <br />Lessee's Initials <br /> <br />Lessor's Initials <br /> <br />14. Counterparts. This Lease may be executed in one or more counterparts, and <br />bear the signature of each party on a separate counterpart, each of which when so executed and <br />delivered shall be deemed an original but all of which taken together shall constitute but one and <br />the same instrument. <br /> <br />[SIGNATURES ON FOLLOWING PAGE] <br /> <br />Schedule 1 <br /> <br />40836735.16 <br />