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ARTICLE XI <br />?iiGA G %1(i 4�U <br />• Qom%® Options in Favor of Lessee <br />�',` Section 11.1. General 0 tion to Purchase Pro'ect and <br />�i,�Terminate Lease. The Lessee s al have, and is hereby <br />v�lgrantedso long as it is not - in default in payment of the <br />'rents, the option to purchase the Project at any time prior <br />to;�or within one hundred eighty (180) days after, the <br />expiration or sooner termination of the Lease Term or any <br />renewal term. <br />T exercise this option, if all the Bonds and coupons <br />appertaiAng thereto, if any, (and premium, if any), have <br />been fully paid (or provision for the payment thereof shall <br />have been,made in accordance with the provisions of the <br />Indenture),.the Lessee shall give written notice to the <br />Lessor of the exercise of such option, and the purchase <br />price shall be the sum of $1.00 for the Project. <br />To exercise this option, if any of theBonds or coupons <br />appertaining thereto, if any, (and premium,'rif any,) shall <br />then be unpaid (or provision for the payment thereof shall <br />not have been made in accordance with the provisions of the <br />Indenture), the Lessee shall give written notice to the <br />Lessor and to the Trustee, and shall specifyk,therein the <br />date of closing such purchase, which date shall be not less <br />than forty-five (45) nor more than ninety (96) days from the <br />date such notice is mailed; and in case of aj•redemption of <br />the Bonds in accordance with the provisions of the Indenture, <br />the Lessee shall make arrangements satisfactory to the <br />Trustee for the giving of the required notice of redemption. <br />The purchase price payable by the Lessee in the event of its <br />exercise of the option granted in this paragfaph shall be <br />the sum of the following: <br />(1) an amount of money which, whenadded to the <br />amount then on deposit in the Bond Fund; will be suffi- <br />cient to retire and redeem all the then outstanding <br />Bonds on the earliest redemption date next succeeding <br />the closing date, including without limitation, prin- <br />cipal, premium, if any, all interest to accrue to said <br />redemption date and redemption expense, plus <br />(2) an amount of money equal to th'e Trustee's and <br />paying agents' fees and expenses under tie Indenture <br />accrued and to accrue until such final payment and <br />redemption of the Bonds, plus <br />XI-1 <br />