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Lease and on or before the first day of April of each year thereafter. Such appraisal may be <br />based upon a recognized index of conversion factors. During the term of this Lease, the Lessee <br />shall also, at its own expense, maintain rent or rental value insurance in an amount equal to the <br />full rental value of the Property for a period of two (2) years against physical loss or damage of <br />the type insured against pursuant to the preceding requirements of this Section IX. During the <br />full term of this Lease, the Lessee will also, at its own expense, self - insure the Property up to the <br />limits established under the Indiana Tort Claims Act against public liability and property damage <br />claims. Lessee, to the fullest extent permitted by law, agrees to indemnify and hold Lessor <br />harmless from any and all claims, liabilities, losses, costs and expenses (including attorneys' <br />fees) arising from or in connection with the occupancy, condition, use or control of the Property <br />and any improvements located thereon during the Lease term. Lessee shall be liable to Lessor <br />for any damages to the Property and for any act done by Lessee or any person coming on the <br />Property by the license or invitation of Lessee, express or implied. <br />7. ASSIGNMENT AND SUBLETTING. <br />The Lessee shall not assign this Lease without the written consent of the Lessor which <br />consent may be withheld by Lessor in Lessor's sole discretion. Lessee shall have the authority to <br />sublet any portion of the Property in its sole discretion. <br />8. TRANSFER TO THE LESSEE. <br />Upon expiration of this Lease and upon full payment by the Lessee of Base Rent and <br />Additional Rent due under this Lease, for the payment of One Dollar ($1.00) by Lessee to <br />Lessor, the Property shall become the absolute property of the Lessee, and, upon the Lessee's <br />request, the Lessor shall execute and deliver to Lessee a Quit -Claim Deed and Assignment and <br />other instruments and pay expenses required to convey to the Lessee all of the Lessor's title <br />thereto. <br />9. DEFAULTS. <br />A. If the Lessee shall default in the (i) payment of any Base Rent or <br />Additional Rent or other sums payable to the Lessor hereunder, or (ii) observance of any other <br />covenant, agreement or condition hereof and such default shall continue for thirty (30) days after <br />written notice to correct the same, then, in -any of such events, the Lessor may proceed to protect <br />and enforce its rights by suit or suits in equity or at law in any court of competent jurisdiction, <br />whether for specific performance of any covenant or agreement contained herein or for the <br />enforcement of any other appropriate legal or equitable remedy, or may authorize or delegate the <br />authority to file a suit or make appropriate claims, or the Lessor, at it's option, without further <br />notice, may terminate the estate and interest of the Lessee hereunder, and it shall be lawful for <br />the Lessor forthwith to resume possession of the Property and the Lessee covenants to surrender <br />the same forthwith upon demand. <br />B. The exercise by the Lessor of the above right to terminate this Lease shall <br />not release the Lessee from the performance of any obligation hereof maturing prior to the <br />Lessors actual entry into possession. No waiver by the Lessor of any right to terminate this <br />12 <br />