Resolution No 16-2024 - Related to Property Conveyance to McCormick Company Lathrop St.

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title to said property was subject when conveyed to the �® Lessor; (ii) those liens and encumbrances created by the Lessee or to the creation or suffering of which the Lessee consented; (iii) those liens and encumbrances resulting from the failure of the Lessee to perform or observe any of the agreements on its part contained in this Lease; (iv) Permitted Encumbrances other than the !� Indenture and this Lease; and (v) if the option is exercised pursuant to the provisions of Section 11.2(b) hereof, the rights and title of the condemning authority. (Section 11.5. Relative Position of Options and Indenture. l The opElons respectivey granted to a Lessee in this ArticleCexcept under Section 11.3 hereof shall be and remain prior and superior to the Indenture and may be exercised whether orinot the Lessee is in default hereunder, provided that such default will not result in nonfulfillment of any condition to the exercise of any such option. Section 11.6. Option to Make Addition to Building. The Lessee shall have, and is hereby granted, the option to con- struct an addition to the Building on any unimproved part of the Leased Land which may have been purchased by the Lessee pursuant to Section 11.3 hereof and/or on any non -leased land contiguous thereto and to use the outside wall of the Building as a common wall and to make such openings between the Build- ing and the addition as may be necessary, provided: If any physical features of the Project, including but not limited to floors, walls, ceilings, roofs, structural supports, fixtures, heating plant, utility services, loading dock facilities and lateral support are altered or removed as a result of such addition, the Lessee shall (i) furnish rfotice in, writing to the Lessor and Trustee dated not less than'90 days prior to the start of construction describing the proposed addition and stating its intention to exercise this option, (ii) furnish the Lessor and Trustee a certifi- cate of an Independent Engineer who is acceptable to the Trustee, dated not less than ninety; (90) days prior to the date of the commencement of construction stating that, in the opinion of such Independent Engineer the portion of the Building to be altered or removed is not needed for the operation of the Project. as a manufac- turing and distribution plant independent of the addition thereto, and that any such alteration or removal will not impair the usefulness of the Project as a manufac- turing and distribution plant, and (iii) bear all of the expense for making any suchalteration or removal, and all of the expense for any damage or destruction done to any portion of the Project which -was not reported as part of the proposed alteration or removal, and all of the expense -for any damage or destruction done to XI-5