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If the Lessee has not exercised its option to purchase the <br />Project at the expiration of the term of the Lease and upon the full <br />discharge and performance by the Lessee of its obligations under this <br />Lease, the Authority shall execute a deed of the Project to the <br />Lessee conveying all of its interest thereto, subject only to <br />Permitted Encumbrances. <br />Section 15. Defaults. If the Lessee shall (a) default in the <br />payment of any rentals or other sums payable to the Authority <br />hereunder, or in the payment of any other sum herein required to be <br />paid for the Authority, (b) fail to comply with the terms set forth <br />in the Lease Resolution, or (c) default in the observance of any <br />other covenant, agreement or condition hereof, and such default under <br />(c) shall continue for ninety (90) days after written notice to <br />correct the same, then, in any of such events, the Authority may <br />proceed to protect and enforce its rights, either at law or in <br />equity, by suit, action, mandamus or other proceedings, whether for <br />specific performance enforcement of of n any covenant <br />other appropriate legal contained <br />for the e or equitable <br />remedy. <br />Section 16. Notices. Whenever either party shall be required <br />to give notice to the other under this Lease, it shall be sufficient <br />service of such notice to deposit the same in the United States mail, <br />in an envelope duly stamped, registered and addressed to the other <br />party at its last known place of business. A copy of any notice <br />shall be mailed by first -class mail to the Trustee at its last known <br />place of business. <br />Section 17. Construction of Covenants. <br />All provisions <br />contained herein shall be construed in accordance with the provisions <br />of the Act and to the extent of inconsistencies, if any, between the <br />covenants and agreements in this Lease and the provisions of the Act, <br />the provisions of said Act shall be deemed to be controlling and <br />binding upon the parties. <br />Section 18. Successors or-Assigns. r e Lessee, shall be binding upon <br />All covenants of this <br />Lease, whether by the Authority <br />the successors and assigns of the respective parties hereto. <br />cm <br />