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• <br />If the Lessee exercises its option to purchase, it shall pay to the Lessor the <br />Purchase Price. Nothing herein contained shall be construed to provide that Lessee shall be <br />under any obligation to purchase the demised premises, or under any obligation in respect to any <br />creditors, members or security holders of Lessor other than as provided for in Paragraph 7. <br />9. Oation to Renew. Lessor hereby grants to Lessee the right and option to <br />renew this Lease for a one (1) year term upon the same or like conditions as herein contained, at <br />the end of initial term and any renewed term, and Lessee shall exercise this option by written <br />notice to Lessor given upon any date prior to the expiration of this Lease. <br />10. Utility Service. The Lessee agrees to pay or cause to be paid all charges <br />for sewer, gas, water, electricity, lights, heat or power, telephone or other utility services used, <br />rendered or supplied upon or in connection with the leased premises throughout the term of this <br />Lease, and to indemnify Lessor and save it harmless against any liability or damages on such <br />account. The Lessee shall also procure any and all necessary permits, licenses or other <br />authorizations required for the lawful and proper installation and maintenance upon the leased <br />premises of wires, pipes, conduits, tubes and other equipment and appliances for use in <br />• supplying any such service to and upon the leased premises. <br />11. Transfer to Lessee. In the event Lessee does not exercise its option to <br />purchase under Paragraph 8 or option to renew under Paragraph 9, and upon full discharge and <br />performance by the Lessee of its obligations under this Lease, the demised premises shall <br />become the absolute property of the Lessee, and Lessor shall execute the proper instruments <br />conveying title to the premises to Lessee. <br />12. Defaults. If the Lessee shall default in the payment of any rentals or other <br />sums payable to the Lessor hereunder, or in the observance of any other covenant, agreement or <br />condition hereof, which cure by Lessee shall not have been commenced within thirty (30) days <br />after written notice to correct the same, then, in any or either of such events, the Lessor may <br />proceed to protect and enforce its rights by suit or suits in equity or at law in any court of <br />competent jurisdiction, whether for specific performance of any covenant or agreement <br />contained herein, or for the enforcement of any other appropriate legal or equitable remedy, or <br />the Lessor, at its option, without further notice, may terminate the estate and interest of the <br />Lessee hereunder, and it shall be lawful for the Lessor forthwith to resume possession of the <br />demised premises and the Lessee covenants to surrender the same forthwith upon demand. <br />• <br />-7- <br />