Approving a Lease for the St Joseph/Wayne Parking Facility

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has contracted are not in default under the terms of their respective agreements. The Lessee covenants that, except for Permitted Encumbrances, it will not encumber the Facility, or permit any encumbrance to exist thereon, and that it shall use and maintain the Facility in accordance with the laws and ordinances of the United States of America, the State of Indiana, and all other proper governmental authorities. The Authority agrees that it will, at the request of the Lessee, execute and deliver to or upon the order of the Lessee such instrument or instruments as may be reasonably required by the Lessee in order to subject the Facility, or the Authority's interest therein, to such encumbrances as shall be specified in such request and as shall be permitted, by the provisions of this Section 13 or otherwise by the definition of "Permitted Encumbrances. " Section 14. Option to Purchase. Authority hereby grants Lessee the right and option, on any rental payment date, upon thirty days' written notice to the Authority, to purchase the Facility at a price equal to the amount required to enable the Authority to provide for the redemption of all outstanding Bonds, all premiums payable on the redemption thereof, and accrued and unpaid interest, and to pay the cost of redeeming the Bonds and liquidating the Authority if it is to be liquidated. Upon request of the Lessee, Authority agrees to furnish an itemized statement setting forth the amounts required to be paid by Lessee on the next rental payment date in order to purchase the Facility in accordance with the preceding paragraph. If Lessee exercises its option to purchase, Lessee shall pay to Trustee that portion of the purchase price which is required to provide for the payment of all the Bonds, including all premiums payable on the redemption thereof, accrued and unpaid interest thereon and the costs of redemption thereof. Such payment shall not be made until the Trustee gives to the Lessee a written statement that such amount will be sufficient to retire all Bonds including all premiums payable on the redemption thereof and accrued and unpaid interest. The remainder of such purchase price, if any, shall be paid by Lessee to Authority. Nothing herein contained shall be construed to provide that Lessee shall be under any obligation to purchase the Facility, or under any obligation in respect to any creditors or bondholders of Authority. If Lessee has not exercised its option to purchase the Facility at the expiration of the term of the Lease and upon the full discharge and performance by Lessee of its obligations under this Lease, Authority shall execute a deed of the Facility to the Lessee conveying good and merchantable title thereto, subject only to Permitted Encumbrances. -7-