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additional construction shall be part of the property covered by this Lease. The above-mentioned <br />plans and specifications have been filed with and approved by Lessee. <br />TO HAVE AND TO HOLD the same with all rights, privileges, easements and <br />appurtenances thereunto belonging, unto Lessee, for a term of seven (7) years, with respect to Fire <br />Station Project beginning on the date the Fire Station Project is completed and ready for occupancy <br />and ending on the day prior to such date seven (7) years thereafter, and, with respect to Services <br />Building Project beginning on the date the Services Building Project is completed and ready for <br />occupancy and ending on the day prior to such date seven (7) years thereafter. However, the term <br />of this Lease shall terminate at the earlier of (a) the exercise of the option to purchase by Lessee and <br />payment of the option price, or (b) the payment or defeasance of all obligations of Lessor incurred <br />(i) to finance the cost of the leased property, (ii) to refund such obligations, (iii) to refund such <br />refunding obligations, or (iv) to improve the leased property. The dates on which the Fire Station <br />Project and Services Building Project are completed and ready for occupancy shall be endorsed on <br />this Lease at the end hereof by the parties hereto as soon as the same can be done after such <br />completion and such endorsement shall be recorded as an addendum to this Lease. The Lessor <br />hereby represents that it is possessed of a good and indefeasible estate in fee simple to the above- <br />described real estate, and Lessor warrants and will defend the same against all claims whatsoever <br />not suffered or caused by the acts of omissions of Lessee or its assigns. <br />2. Semiannual Rental Payments. The Lessee agrees to pay rental for said <br />premises as set forth herein. <br />(a) Fire Station Project. The first semiannual rental installment in the <br />amount of One Hundred Twenty-one Thousand Seven Hundred Sixty-eight and 00/100 <br />::ODMA\PCDOCS\SBDOCSI\25224\2 -2- <br />