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Section 1.2. ACCEPTANCI? OP TIIE DEMISED PREMISES. "Tenant accepts the <br />Demised Premises in its "AS IS WHERE IS" condition. Except as expressly provided otherwise <br />in this Lease, Landlord makes no, and Landlord expressly disclaims any, representations or <br />warranties, express or implied, regarding the Demised Premises, including but not limited to the <br />habitability, merchantability, fitness or suitability of the Demised Premises far Tenant's intended <br />use, hazardous materials in, on or under the Demised Premises, or zoning, entitlements or any <br />laws, ordinances. regulations or covenants and resh•ictions which may apply to Tenant's use of <br />the Demised Premises. <br />Section 1.3. PERMI"I~TED EXCEPTIONS. 'Tenant's interest in and right to use the <br />Demised Premises is and shall be subject to all of the following: <br />(A) all easements, restrictions, liens, encumbrances, rights-of-way or other matters of <br />record affecting the Demised Premises (the "Property llocuments"); <br />(B) all matters that would be disclosed by an accurate survey or physical inspection of <br />the Demised Premises; and <br />(C) all present and future ordinances, laws, regulations and orders of all boards, <br />bureaus, commissions and bodies of any municipal, county, state or federal government uow or <br />hereafta~ having or acquiring jurisdiction of the Demised Premises. <br />Section 1.4. PERMITTED USES. Tenant shall have the right to use the Demised <br />Premises for the operation and maintenance of the Parking Garage, and for ancillary uses in <br />connection therewith, but for no other use without the prior written consent of Landlord. In no <br />event shall the Demised Premises be used for any noxious or hazardous business or any unlawful <br />purpose or for any purpose which could invalidate the insurance herein required. <br />ARTICLE II. <br />DEMISED TERM <br />"The term of this Lease shall be for a period commencing on the first to occur of (a) the <br />date that the construction of the Parking Garage is complete, or (b) the date selected by Tenant <br />(the "Commencement Datc") and expiring on the first to occur of (i) February I5, 2033, (ii) the <br />date upon which all outstanding Bonds have been redeemed, or (iii) the date upon which the <br />Master Lease and/or the Sublease expires or is terminated (the "Demised Tcrm"). The <br />covenants, undertakings and agreements of Landlord that as by their nature or under the <br />circumstances can only be or may be performed after the expiration or termination of the <br />Demised Tcrm, including without limitation those set forth in Article VII of this Lease, shall <br />survive the expiration or termination of the Demised Tcrm. <br />ARTICI_,E III. <br />RENT AND IMPOSI7~IONS <br />Section 3.1. BASIC REN"T. Tenant agrees to pay to Landlord, without deduction or <br />demand, basic rent for the Demised Term in the amount of One Dollar and No/100 ($1.00). <br />-2- <br />